THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN (TOGETHER THIS "ANNOUNCEMENT"), IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES OF AMERICA, CANADA, AUSTRALIA, JAPAN, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF THE MARKET ABUSE REGULATION (EU) 596 / 2014 WHICH FORMS PART OF UK LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 ("UK MAR"). IN ADDITION, MARKET SOUNDINGS (AS DEFINED IN UK MAR) WERE TAKEN IN RESPECT OF CERTAIN OF THE MATTERS CONTAINED IN THIS ANNOUNCEMENT, WITH THE RESULT THAT CERTAIN PERSONS BECAME AWARE OF SUCH INSIDE INFORMATION, AS PERMITTED BY UK MAR. UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN AND SUCH PERSONS SHALL THEREFORE CEASE TO BE IN POSSESSION OF INSIDE INFORMATION.
12 August 2025
Harena Resources Plc
("Harena" or the "Company")
Update in relation to Fundraising
Oversubscribed Subscription to raise £0.18M in addition to the £1.05M recently raised
Harena Resources Plc (LSE: HREE), the rare earths company focused on the Ampasindava ionic clay rare earth project in Madagascar (the " Ampasindava Project "), is pleased to announce that the Company has raised further gross proceeds of approximately £0.18 million at the Issue Price through a oversubscribed Subscription of 12,100,000 new Ordinary Shares (the " Subscription Shares ") with certain institutional and professional investors, conditional on Admission (as defined below).
The Subscription has been undertaken at the Issue Price of 1.5 pence per new Ordinary Share and on the same terms as the Placing announced by the Company on 4 August 2025 (the " Fundraising Announcement "). In total the Placing and the Subscription has raised gross proceeds of approximately £1.23 million.
It is intended that the net proceeds of the Subscription will be deployed by the Company for the same purposes as that of the Placing as detailed in the Company's announcement on 31 July 2025.
Admission
Applications have been made: (i) to the UK's Financial Conduct Authority (the "FCA") for the admission of the 12,100,000 Subscription Shares to trading on the equity shares (transition) category of the Official List of the FCA; and (ii) to trading on the London Stock Exchange for the admission of the 12,100,000 Subscription Shares to trading on its main market for listed securities (together, "Admission"). Admission is expected to take place on 8.00 a.m. on or around 18 August 2025.
Total voting rights
Immediately following Admission, the Company will have 495,984,352 ordinary shares of 0.5 pence each in issue, each with one voting right. There are no shares held in treasury. Therefore, the Company's total number of ordinary shares in issue and voting rights will be 495,984,352 and this figure may be used by shareholders from Admission 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 Guidance and Transparency Rules.
Warrants
In line with the Company's announcement on 31 July 2025, the Company has conditionally agreed to issue a further 5,000,000 Fee Warrants to Ivan Murphy and Paul Richards for their services in respect of the Subscription. The Fee Warrants are exercisable at 3 pence for a period of five years from the date of Admission. The Fee Warrants are not subject to any vesting conditions. The Fee Warrants will not be admitted to trading on the London Stock Exchange or any other stock exchange. Consequently, a total of 40,000,000 Fee Warrants and 40,000,000 Performance Warrants have been issued to date.
The FCA notification in respect of these director dealings, made in accordance with the requirements of UK MAR, is appended further below.
Unless otherwise defined, definitions contained in this Announcement have the same meaning as set out in the Fundraising Announcement.
For further information please contact:
| Harena Resources Plc Ivan Murphy, Non-Executive Chairman Allan Mulligan, Executive Technical Director
|
+44 (0)20 7770 6424
|
|
Allenby Capital Limited - Financial Adviser & Joint Broker Jeremy Porter / Vivek Bhardwaj (Corporate Finance) Amrit Nahal / Kelly Gardiner (Sales & Corporate Broking)
|
+44 (0)20 3328 5656 |
| Tavira Financial Limited - Joint Broker Jonathan Evans / Oliver Stansfield
|
+44 (0)20 7330 1833 |
| Celicourt Communications - Public Relations Mark Antelme / Charles Denley-Myerson |
44 (0)20 7770 6424 celicourt@celicourt.uk |
Notes to editors
Harena ( www.harenaresources.com.au ) is a rare earths exploration and development company focused on the Ampasindava Ionic Clay Rare Earth Project in Madagascar (Harena's interest is 75%). The project hosts one of the largest ionic clay rare earth deposits outside of China, with significant concentrations of high-value magnet metals. Harena is committed to low-impact, high recovery mining, providing a sustainable supply of critical minerals for the global energy transition and military defence industries. Forward-Looking Statements This announcement contains forward-looking statements that involve risks and uncertainties. Actual results may differ materially from those expressed or implied in such statements.
This Announcement is made in accordance with the Company's obligations under Article 17 of UK MAR and the person responsible for arranging for the release of this Announcement on behalf of Harena is Allan Mulligan, Executive Technical Director .
Director/PDMR MAR disclosures
The following notification, made in accordance with the requirements of the UK Market Abuse Regulation, gives further details.
| 1 |
Details of the person discharging managerial responsibilities / person closely associated |
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| a) |
Name |
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| 2 |
Reason for the notification |
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| a) |
Position/status |
See above
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| b) |
Initial notification /Amendment |
Initial notification |
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| 3 |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
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| a) |
Name |
Harena Resources Plc |
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| b) |
LEI |
213800TNHZOA4JIZK687 |
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| 4
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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 |
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| a)
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Description of the financial instrument, type of instrument Identification code |
Ordinary shares of 0.5p each in Harena Resources Plc ("Ordinary Shares")
Identification code (ISIN) for Harena Resources Plc ordinary shares: GB00BMGRFP88 |
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| b) |
Nature of the transaction |
Warrants over Ordinary Shares |
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| c) |
Price(s) and volume(s) |
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| d) |
Aggregated information: - Aggregated volume - Price |
N/A |
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| e) |
Date of the transaction |
12 August 2025 |
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| f) |
Place of the transaction |
London Stock Exchange, XLON |
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