Exercise of Warrants, Directors Dealings and TVR

Oriole Resources PLC

22 January 2024

 

Oriole Resources PLC 

('Oriole Resources' or 'the Company' or 'the Group')

Exercise of Warrants, Directors Dealings and Total Voting Rights

Oriole Resources PLC (AIM: ORR), the AIM-quoted exploration company focussed on West Africa announces that, following receipt of notices to exercise warrants over ordinary shares in the Company (the 'Exercise') by four of the Company's directors, application has been made for 17,444,445 new ordinary shares of 0.1p each ('Ordinary Shares') in the Company to be admitted to trading on AIM on 26 January 2024 ('Admission'). The exercise prices of the warrants are as set out below:

Instrument	Exercise Price (pence)	Number of New Ordinary Shares to be admitted
Warrants	0.25	17,444,445

The warrants are being exercised by four directors of the Company and details of these together with their resultant interests in the share capital of the Company are set out below:

Name	No. of Existing Ordinary Shares	No. of Shares to be issued in respect of Warrant exercise	Number of Ordinary Shares held post Admission	Percentage of enlarged issued share capital following Admission	Total Warrant  holdings post Admission	Total Option holdings post Admission
Eileen Carr	152,672,969	9,500,000	162,172,969	4.18%	1,611,111	24,300,000
Tim Livesey	38,308,323	2,777,778	41,086,101	1.06%	-	76,479,940
Robert Smeeton	32,436,378	3,500,000	35,936,378	0.93%	3,166,666	64,383,952
Claire Bay	9,739,901	1,666,667	11,406,568	0.29%	-	47,530,000

Further details on the exercise are included in the notification below, made in accordance with the requirements of UK MAR. 

The new Ordinary Shares will rank pari passu with the Company's existing Ordinary Shares.

Following Admission, a total of 171,444,443 warrants and 264,526,245 options over Ordinary Shares (representing approximately 11.2 per cent. of the Company's enlarged issued share capital) remain outstanding.

Total Voting Rights

Following Admission, the Company's issued share capital will be 3,881,983,450 Ordinary Shares. This figure of 3,881,983,450 may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure and Transparency Rules.

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Following the publication of this announcement, this inside information is now considered to be in the public domain.

** ENDS **

ANNEX - PDMR notifications

Template for notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Eileen Carr
2	Reason for the notification
a)	Position/status	Chair
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Oriole Resources PLC
b)	LEI	213800X32GJR5AGAR511
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument	Ordinary shares of 0.1 pence each in the capital of the Company
	Identification code	Ordinary share ISIN: GB00B0T29327
b)	Nature of the transaction	Exercise of warrants
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			0.25p	9,500,000
d)	Aggregated information
	- Aggregated volume	n/a
	- Price
e)	Date of the transaction	22nd January 2024
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Timothy Livesey
2	Reason for the notification
a)	Position/status	Chief Executive Officer
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Oriole Resources PLC
b)	LEI	213800X32GJR5AGAR511
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument	Ordinary shares of 0.1 pence each in the capital of the Company
	Identification code	Ordinary share ISIN: GB00B0T29327
b)	Nature of the transaction	Exercise of warrants
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			0.25p	2,777,778
d)	Aggregated information
	- Aggregated volume	n/a
	- Price
e)	Date of the transaction	22nd January 2024
f)	Place of the transaction	Outside a trading venue
1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Robert Smeeton
2	Reason for the notification
a)	Position/status	Chief Financial Officer
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Oriole Resources PLC
b)	LEI	213800X32GJR5AGAR511
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument	Ordinary shares of 0.1 pence each in the share capital of the company
	Identification code	Ordinary share ISIN: GB00B0T29327
b)	Nature of the transaction	Exercise of warrants
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			0.25p	3,500,000
d)	Aggregated information
	- Aggregated volume	n/a
	- Price
e)	Date of the transaction	22nd January 2024
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Claire Bay
2	Reason for the notification
a)	Position/status	Executive Director, Exploration & Business Development
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Oriole Resources PLC
b)	LEI	213800X32GJR5AGAR511
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument	Ordinary shares of 0.01 pence each in the share capital of the company
	Identification code	Ordinary share ISIN: GB00B0T29327
b)	Nature of the transaction	Exercise of warrants
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			0.25p	1,666,667
d)	Aggregated information
	- Aggregated volume	n/a
	- Price
e)	Date of the transaction	22nd January 2024
f)	Place of the transaction	Outside a trading venue

 For further information please visit www.orioleresources.com, @OrioleResources on Twitter, or contact:

Oriole Resources Plc	Tel: [phone]
Tim Livesey / Bob Smeeton / Claire Bay
BlytheRay (IR/PR Contact)	Tel: [phone]
Tim Blythe / Megan Ray
Grant Thornton UK LLP	Tel: [phone]
Samantha Harrison / Ciara Donnelly
SP Angel Corporate Finance LLP Ewan Leggat / Harry Davies-Ball	Tel: [phone]

Notes to Editors:

Oriole Resources PLC is an AIM-listed gold exploration company, operating in West Africa. It is focussed on early-stage exploration in Cameroon, where the Company has reported a Resource of 375,000 oz Au at 2.30g/t in the JORC Inferred category at its 82.2%-owned Bibemi project and has identified multi-kilometre gold and lithium anomalism within the district-scale Central Licence Package project. BCM International is currently earning up to a 50% interest in the Bibemi and Mbe projects in return for a combined investment of US$1.5m in signature payments (US$550,000 of which has already been received), up to US$8m in exploration expenditure, as well as JORC resource-based success payments.

At the more advanced Senala gold project in Senegal, AGEM Senegal Exploration Suarl ('AGEM'), a wholly-owned subsidiary of Managem Group, has earned an initial 51% beneficial interest in the Senala Exploration Licence by spending US$4 million and has the option to spend up to a further US$4 million by 17 February 2024 to earn an additional 19% interest in the licence. The Company also has several interests and royalties in companies operating in East Africa and Turkey that could deliver future cash flow.

 

END