Amendment: Issue of Equity Incorrect No. of Shares

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO OR FROM THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO DISTRIBUTE THIS ANNOUNCEMENT.

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSE OF ARTICLE 7 OF REGULATION 2014/596/EU WHICH IS PART OF UNITED KINGDOM ("UK") DOMESTIC LAW PURSUANT TO THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS (SI 2019/310) ("UK MAR"). MARKET SOUNDINGS WERE TAKEN FROM CERTAIN PERSONS IN RELATION TO THE PLACING AND THE SUBSCRIPTION. THIS INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN AND SUCH PERSONS SHALL THEREFORE CEASE TO BE IN POSSESSION OF INSIDE INFORMATION.

URA Holdings plc

("URA" or the "Company")

Amended: Placing and Subscription to raise £240,000 in ordinary shares (the "Fundraise")

URA is pleased to announce that it has raised £240,000 (before expenses) through a placing and subscription, issuing in aggregate 10,000,000 new ordinary shares in the capital of the Company ("New Ordinary Shares") at an issue price of 2.4p per New Ordinary Share. The placing and subscription were limited by the maximum amount the Company can currently place within its existing disapplation of pre-emption rights authority. 

The Fundraise was conducted at a 7.69% discount to the mid-market closing price on 31 August 2023 and is within the existing authority to issue shares for cash on a non pre-emptive basis.

As a further component of the Fundraise, the Company executed a warrant instrument, issuing 125,000 warrants to Peterhouse Capital Limited in accordance with their engagement letter at an exercise price of 2.4p per ordinary share for a period of three years.

The proceeds of the Fundraise will be used to purchase critical equipment and machinery required for the restart of mining operations at the Gravelotte Emerald Mine and for general working capital.

The following Directors participated in the Subscription:

Director                                   Subscription Amount     Number of New Ordinary Shares

Edward Nealon                    £15,000                 625,000

Peter Redmond                   £15,000                 625,000

Ed Nealon, Chairman of URA Holdings Plc commented:- "I would like to again thank our existing shareholders for their ongoing support and would also like to welcome the new shareholders who have participated in this placement. I would like to thank the board, who again contributed over 10% of the placement, as well as our management team for their dedication and hard work as we progress ever closer to trial mining and production phase."

Additional information

Applications for Admission

Applications will be made for the New Ordinary Shares to be admitted to standard segment of the official list and to trading on the Main Market for listed securities of London Stock Exchange plc. It is expected that admission will become effective on 6 September 2023.

The New Ordinary Shares will, on admission, rank pari passu in all respects with the ordinary shares currently in issue and will rank in full for all dividends and other distributions hereafter declared, paid or made on the ordinary share capital of the Company.

Total Voting Rights

Following the issue of the New Ordinary Shares, the Company will have 172,345,590 ordinary shares in issue, each share carrying the right to one vote.

This figure of 172,345,590  ordinary shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.

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