Further re Establishment of EBT
Summary by AI BETAClose X
Richmond Hill Resources PLC
(“Richmond Hill” or the “Company”)
Further re Establishment of EBT
Richmond Hill Resources PLC (AIM: RHR) announces that it has now established the Richmond Hill Resources Employee Benefit Trust (" EBT ") to implement the use of an incentive plan as set out in the announcement of 17 December 2025.
The Company intends to issue and allot 59,421,094 new ordinary shares in the Company to the EBT (the " EBT Shares ") at a price per share of £0.001, being the Company's nominal share value, as advised in its admission document published on 26 September 2025, which is equivalent to 8.27% of the Company’s as enlarged issued ordinary share capital of the Company. These ordinary shares shall be held in the EBT on trust pending transfer upon the vesting (or exercise, as the case may be) of awards granted, and for such other purposes relating to the ongoing recruitment, retention and incentivisation of employees as may be recommended by the Company from time to time (subject to the approval of the Remuneration Committee). The Company has entered into a loan agreement with the trustees to fund the subscription of the EBT Shares by the trustees.
Admission
Application will be made to the London Stock Exchange for admission of the EBT Shares to trading on AIM (" Admission "). It is expected that Admission will become effective and dealings in the EBT Shares will commence at 8.00 a.m. on or around 11 February 2026. The EBT Shares will be issued fully paid and will rank pari passu in all respects with the Company's existing Ordinary Shares.
Total voting rights
Following Admission, the total number of ordinary shares in the capital of the Company in issue will be 718,264,341 with voting rights. This figure 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's share capital pursuant to (i) the Company's Articles, (ii) the Financial Conduct Authority's Disclosure Guidance and Transparency Rules and/or (iii) the AIM Rules for Companies issued by the London Stock Exchange plc as amended from time to time.
Forward Looking Statements
This announcement contains forward-looking statements relating to expected or anticipated future events and anticipated results that are forward-looking in nature and, as a result, are subject to certain risks and uncertainties, such as general economic, market and business conditions, competition for qualified staff, the regulatory process and actions, technical issues, new legislation, uncertainties resulting from potential delays or changes in plans, uncertainties resulting from working in a new political jurisdiction, uncertainties regarding the results of exploration, uncertainties regarding the timing and granting of prospecting rights, uncertainties regarding the Company's ability to execute and implement future plans, and the occurrence of unexpected events. Actual results achieved may vary from the information provided herein as a result of numerous known and unknown risks and uncertainties and other factors.
This announcement contains inside information for the purposes of the UK Market Abuse Regulation and the Directors of the Company are responsible for the release of this announcement.
For further information, please contact:
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Richmond Hill Resources Hamish Harris
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Tel: +44 (0)787958 4153 |
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Cairn Financial Advisers LLP (Nominated Adviser) Ludovico Lazzaretti / James Western
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Tel: +44 (0)20 7213 0880
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Clear Capital Limited (Broker) Bob Roberts
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Tel: +44 (0) 20 3869 6080 |
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