Admission & First Day of Dealings

24 July 2015

1nq

NQ Minerals PLC (ISDX:NQMI)
(“NQ Minerals” or the “Company”)

ADMISSION & FIRST DAY OF DEALINGS

 

NQ Minerals PLC, an Australian-based exploration and mining company, is pleased to announce today that its shares have been admitted to trading on the ISDX Growth Market under the ticker NQMI and will commence trading on 24 July 2015.

KEY POINTS:

  • The Company is focusing on projects where past exploration work has established the presence of mineral occurrences;
  • Management team has decades of experience in the exploration and production of gold, silver and a variety of base metals;
  • NQ Minerals is focused on two exploration projects known as Ukalunda and Square Post, in North Queensland, Australia. These projects are both located in prospective mining districts that form part of the well-known Charters Towers Gold Province, where more than 20 million ounces of gold has been mined;
  • The Company is seeking to admit 134,046,000 Ordinary Shares of £0.001 each. The ISIN Number of the shares will be GB00BYN8YP12;
  • The Directors have raised £1,000,000 by way of a Subscription to fund the exploration and drilling program and the funding is conditional on Admission; and
  • The Company raised the money through INcrowd, the first crowdfunding platform to offer exclusive access to investment opportunities in publicly quoted debt and equity securities.

Commenting, Non-Executive Chairman Brian Stockbridge, said:

“I am delighted that we have today successfully listed NQ Minerals as planned. The Directors consider that NQ Minerals has a distinct advantage arising from the previous exploration work that has been carried out on the tenements. This has a resulted in a valuable database that will allow the team to target spending to achieve the most efficient exploration and improve the chances of success. The short-term strategy is aimed at increasing value by targeted exploration and the easiest way to add value is by drilling.

“The Directors consider that 2015 and 2016 are likely to see a healthy news flow from both the Ukalunda and Square Post projects as exploration proceeds and any positive results should allow value to be added. The management has a proven track record not just in locating properties with valuable resources but, more importantly, in developing these projects to bankable stage.”

Assuming full subscription under the Subscription, the Subscription Shares will represent approximately 9.33%. of the Enlarged Share Capital comprising 134,046,000 Ordinary Shares of £0.001 each. At the Subscription Price of 8p per share, the Company will be valued at £10.7 million on Admission. Net proceeds of the Subscription (assuming full subscription under the Subscription) receivable by the Company will (after the expenses of the Subscription and Admission, which are expected to be £200,000) amount to £800,000.

The Board comprises three Directors in respect of whom brief biographies are set out below.

Walter Daniel Doyle CEO – (aged 59 years)

Walter has over 30 years of experience of mining and resource properties in Australia. The Doyle family has three generations of mining history and has participated in the discovery of several large resource properties, including the initial discovery and exploration of the Century mine, one of Australia’s primary silver/lead deposits.  Having spent many years abroad, Walter is a venture capitalist who is also a specialist in public equity markets worldwide and has particular expertise and long term contacts in North American and London capital markets. Most recently, Walter was behind the resurrection of Sirius Minerals (AIM:SXX) which was transformed from a destitute shell company into a potash business where the share price went from 2p to 32p.

Brian Stockbridge – Non-Executive Chairman (aged 41 years)

Brian Stockbridge is an investment banker, based in London. He has held senior positions with several well-respected City firms, including Grant Thornton, Noble & Company (now part of Espirito Santo Investment Bank), and Allenby Capital. In 2012, Brian opened the London office of the independent investment banking operation Zeus Capital. As a regulator at the Panel on Takeovers & Mergers, he was the primary case officer for over 150 transactions valued up to and over £1bn. Brian is experienced in raising funds for companies and is a former Qualified Executive for the purposes of AIM. In 2014, Brian set up International Financial Strategic Associates (IFSA), a boutique financial advisory and investment company, offering assistance to directors and shareholders of small and medium sized companies with principal investment, fundraising and mergers and acquisitions.

Frederick Bryan Smart – Non-Executive Director (aged 63 years)

Bryan Smart is a Chartered Accountant with over 40 years of experience in finance both in professional and commercial roles and from 1996 to 2006 he worked as Finance Director for DaimlerChrysler (UK) Ltd. He has been a non-executive director of AIM-listed Scotty Group PLC, which supplies satcom solutions for military applications. He has also served on the board of Rangers International Football Club plc, which was listed on AIM. He was an executive director of Tradelinens Ltd, a joint venture established with a Chinese importer until its successful sale in 2014. His current responsibilities include non-executive director roles in AB Dynamics plc, a company that designs and manufactures robotic test equipment for the automotive industry, and also in Greka Drilling plc and Greka Engineering plc, both AIM listed companies which are engaged in coal bed methane drilling in China and India.  He also acts as a consultant for Greenoaks Ltd, a Mercedes dealer group and is a trustee of Brooklands Museum.

The registered office of the Company is Finsgate, 5-7 Cranwood Street London EC1V 9EE. The Company’s principal place of business is Level 5, RSL Centre, 9 Beach Road, Surfers Paradise, Queensland 4217, and Australia. The telephone number of the Company is 020 7309 2222. The Company’s corporate website, at which the information about the Company’s business, its directors, financial reports, latest announcements are published and other investor related information as recommended by Rule 75 of the ISDX Growth Market Rules can be found, is www.nqmpl.com.

Other than as set out below, the Company is not aware of any person who immediately following Admission will, directly or indirectly, be interested in 3 per cent. or more of the voting rights of the Company or who, directly or indirectly, jointly or severally exercise or could exercise control over the Company, or whose interest is notifiable under the Disclosure Rules or otherwise in the UK:

 As at Admission
 Number of Ordinary SharesPercentage of issued Ordinary Share Capital* 
Beaufort Nominees Limited 8,531,000 6.36%
 Brian Stockbridge 3,000,000 2.24%
 Blue Doe Gold Plc 10,000,000 7.46%
 Walter Doyle 100,000,000 74.6%

It is anticipated there will be 21,046,000 shares in public hands on admission representing 15.7% of the entire share capital.

The sector classification is Mining. The expected admission date is 24 July 2015.

The directors of NQ Minerals PLC accept responsibility for this announcement.

FOR FURTHER INFORMATION PLEASE CONTACT:

Brian Stockbridge
NQ Minerals plc
Tel: + 44 (0) 7876 888 011

Corporate Advisor
Nick Michaels and Jon Isaacs
Alfred Henry Corporate Finance Limited
www.alfredhenry.com
Tel: +44 (0) 207 251 3762

Financial PR & IR
Alistair de Kare-Silver, Dominic Barretto and Harriet Jackson
Yellow Jersey PR Limited
www.yellowjerseypr.com
Tel: +44 (0) 7738 076 304

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