Issue of Equity, TVR & Director Dealing
Summary by AI BETAClose X
Mendell Helium plc
(“Mendell Helium” or the “Company”)
Issue of Equity, Total Voting Rights & Director Dealing
Mendell Helium, the helium production company with operations in Kansas, announces that, in accordance with their share-based remuneration arrangements disclosed in the Company’s admission document dated 11 June 2026, Nick Tulloch, Chief Executive Officer, will receive 699,790 new ordinary shares (“New Shares”), in respect of £30,000 of accrued remuneration for the period from 1 July 2026 to 30 September 2026 and Paul Mendell, Chief Technical Officer, will receive 260,871 New Shares, in respect of US$14,835 of accrued remuneration for the period from 18 May 2026 to 30 September 2026. The New Shares will be issued at a price of 4.287 pence per share, representing the volume weighted average price of the Company’s ordinary shares over the 14-day period ended 30 September 2026.
Following this issuance, the total number of ordinary shares that will be held following Admission by Nick Tulloch and Paul Mendell, Persons Discharging Managerial Responsibility (PDMR), are as follows:
|
Name |
New Shares to be issued |
Total ordinary shares held in the Company following Admission |
Percentage of the Company’s enlarged issued ordinary share capital following Admission |
|
Nick Tulloch |
699,790 |
9,086,2731 |
2.53% |
|
Paul Mendell |
260,871 |
31,945,825 |
8.90% |
1Including shares held by his spouse, Fetlar Capital Ltd and West Cliffs Capital L.L.C-Fz, companies controlled by Nick Tulloch.
Additional Issue of Equity
The Company has agreed to issue and allot 139,958 New Shares as payment in lieu of approximately £6,000 of accrued fees owed by the Company to professional advisers. These New Shares will be issued at the same price of 4.287 pence per share, which was the volume weighted average price of the Company’s ordinary shares over the 14-day period ended 30 September 2026.
Admission
Application will be made for, in aggregate, 1,100,619 New Shares to be admitted to trading on AIM (“Admission”). Admission is expected to occur at 8:00 am on or around 16 November 2026. The New Shares will rank pari passu with the existing ordinary shares.
Total Voting Rights
Following Admission, the Company's enlarged share capital will comprise 359,031,556 ordinary shares of 1 pence each. Therefore, the total number of voting rights in the Company will be 359,031,556. This figure may be used by shareholders as the denominator for calculations by which they will determine if they are required to notify their interest in the Company, or a change to their interest in the Company, under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.
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.
ENDS
Engage with the Mendell Helium management team directly by asking questions, watching video summaries and seeing what other shareholders have to say. Navigate to our Interactive Investor website here: https://mendellhelium.com/link/PKa6Ve
Enquiries:
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Investor questions on this announcement We encourage all investors to share questions on this announcement via our investor website
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||
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Mendell Helium plc Nick Tulloch, CEO
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Via our website investors@mendellhelium.com | |
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Cairn Financial Advisers LLP (Nominated Adviser) Ludovico Lazzaretti / Liam Murray
|
Tel: +44 (0) 20 7213 0880 | |
|
SI Capital Limited (Broker) Nick Emerson
|
Tel: +44 (0) 1483 413500 | |
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Fortified Securities Guy Wheatley
|
Tel: +44 (0) 203 4117773
| |
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Tel: +44 (0) 20 3973 3678 | |
|
AlbR Capital Limited Gavin Burnell / Colin Rowbury / Jon Belliss
|
Tel: +44 (0) 207 4690930
| |
|
Spire by St Brides (Public & Investor Relations) Alan Green |
Tel: +44 (0) 20 7236 1177
|
Overview of Mendell Helium
Mendell Helium is a helium producer in Kansas, USA where it operates through its wholly owned subsidiary M3 Helium.
M3 Helium’s flagship well, Rost 1-26, is in Fort Dodge, just to the east of Dodge City, Kansas. It has been tested as containing 5.1% helium composition and a drill stem test yielded a maximum flow rate of approximately 2,900 Mcf per day. Water removed from Rost 1-26 is delivered to Brobee, a nearby disposal well that has been permitted at 10,000 barrels of water per day at 1,200 psi. Production at Rost 1-26 commenced in early November 2025 and the most recently recorded flow rate in December 2025 was 250 Mcf per day equating to approximately $1.4 million of helium per year (at $300/Mcf helium).
M3 Helium has subsequently drilled a second well, Rost 2-26, which is currently being de-watered and early results have been encouraging. In particular Rost 2-26 has reported a helium composition of 11.5%. It also owns additional leases in the Fort Dodge area capable of supporting up to eight new production wells. M3 Helium has also agreed a joint venture with Ritchie Exploration, Inc. to recomplete the Schneweis Ventures 13A, a well with a drill stem test of over 10,000 Mcf per day and a historic flow rate of 300 Mcf per day. Since coming back on line, the well has recorded peak flow rates of up to 700 Mcf per day, although rates have been variable during de-watering.
At the Rost wells in Fort Dodge, M3 Helium treats the raw gas on site to concentrate the helium and has leased two tube trailers which it uses for deliveries to its offtaker.
M3 Helium also has interests in five producing wells (Peyton, Smith, Nilson, Bearman and Dimmitt) within the Hugoton gas field in South-Western Kansas, one of the largest natural gas fields in North America. Significantly these wells are in the proximity of a gathering network and the Jayhawk gas processing plant meaning that producing wells are all tied into the infrastructure.
Forward Looking Statements
These forward-looking statements are not historical facts but rather are based on the Company's current expectations, estimates, and projections about its industry; its beliefs; and assumptions. Words such as 'anticipates,' 'expects,' 'intends,' 'plans,' 'believes,' 'seeks,' 'estimates,' and similar expressions are intended to identify forward-looking statements. These statements are not a guarantee of future performance and are subject to known and unknown risks, uncertainties, and other factors, some of which are beyond the Company's control, are difficult to predict, and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements. The Company cautions security holders and prospective security holders not to place undue reliance on these forward-looking statements, which reflect the view of the Company only as of the date of this announcement. The forward-looking statements made in this announcement relate only to events as of the date on which the statements are made. The Company will not undertake any obligation to release publicly any revisions or updates to these forward-looking statements to reflect events, circumstances, or unanticipated events occurring after the date of this announcement except as required by law or by any appropriate regulatory authority.
|
1 |
Details of the persons discharging managerial responsibilities / person closely associated
| |||||
|
a) |
Name
|
Nick Tulloch | ||||
|
2 |
Reason for the notification
| |||||
|
a) |
Position/Status
|
Chief Executive Officer | ||||
|
b) |
Initial notification/ Amendment
|
Initial | ||||
|
3 |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| |||||
|
a) |
Name
|
Mendell Helium plc | ||||
|
b) |
LEI
|
213800XIUQ3AHRZ6UF89 | ||||
|
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
Identification code
|
Ordinary shares of 1 pence each
GB00BLD3FF28
| ||||
|
b) |
Nature of the transaction |
Issue of shares pursuant to director remuneration
| ||||
|
c) |
Price(s) and volume(s)
|
| ||||
|
d) |
Aggregated information
- Aggregated volume
- Price
|
N/A
| ||||
|
e) |
Date of transaction
|
9 November 2026 | ||||
|
f) |
Place of transaction
|
AIM | ||||
|
1 |
Details of the persons discharging managerial responsibilities / person closely associated
| |||||
|
a) |
Name
|
Paul Mendell | ||||
|
2 |
Reason for the notification
| |||||
|
a) |
Position/Status
|
Chief Technical Officer | ||||
|
b) |
Initial notification/ Amendment
|
Initial | ||||
|
3 |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| |||||
|
a) |
Name
|
Mendell Helium plc | ||||
|
b) |
LEI
|
213800XIUQ3AHRZ6UF89 | ||||
|
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
Identification code
|
Ordinary shares of 1 pence each
GB00BLD3FF28
| ||||
|
b) |
Nature of the transaction |
Issue of shares pursuant to director remuneration
| ||||
|
c) |
Price(s) and volume(s)
|
| ||||
|
d) |
Aggregated information
- Aggregated volume
- Price
|
N/A
| ||||
|
e) |
Date of transaction
|
9 November 2026 | ||||
|
f) |
Place of transaction
|
AIM | ||||
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