Schedule One - Bradda Head Holdings Limited | RNS | Ticker

Schedule One - Bradda Head Holdings Limited

RNS Announcement

RNS Number : 0678E

AIM

05 July 2021

ANNOUNCEMENT TO BE MADE BY THE AIM APPLICANT PRIOR TO ADMISSION IN ACCORDANCE WITH RULE 2 OF THE AIM RULES FOR COMPANIES ("AIM RULES")

COMPANY NAME:

Bradda Head Holdings Limited ("Bradda Head" or the "Company")

COMPANY REGISTERED OFFICE ADDRESS AND IF DIFFERENT, COMPANY TRADING ADDRESS (INCLUDING POSTCODES) :

Registered Office:

Craigmuir Chambers

Road Town

Tortola

VG1110

British Virgin Islands

Business address:

Viking House

Nelson Street

Douglas

Isle of Man IM1 2AH

COUNTRY OF INCORPORATION:

British Virgin Islands (BVI)

COMPANY WEBSITE ADDRESS CONTAINING ALL INFORMATION REQUIRED BY AIM RULE 26:

www.braddaheadltd.com

COMPANY BUSINESS (INCLUDING MAIN COUNTRY OF OPERATION) OR, IN THE CASE OF AN INVESTING COMPANY, DETAILS OF ITS INVESTING POLICY). IF THE ADMISSION IS SOUGHT AS A RESULT OF A REVERSE TAKE-OVER UNDER RULE 14, THIS SHOULD BE STATED:

Bradda Head, previously called Life Science Developments Limited and before that Copper Development Corporation, is a delisted company previously quoted on AIM. In January 2018 Bradda Head acquired Bradda Head Limited, a lithium focused exploration company established to develop a portfolio of USA based lithium projects (the "Lithium Assets").

The Lithium Assets were originally the subject of a joint venture with ASX listed Zenith Minerals Limited but after a restructuring in Q1 2021, Bradda Head now holds a 100% in the Lithium Assets via its wholly owned subsidiaries Zenolith (USA) LLC ("Zenolith") and Verde Grande, LLC. To date, since 2018 Bradda Head has raised approximately US$4 million for its current business and currently has cash of approximately US$1.2 million, with the balance of funds deployed in developing the Lithium Assets.

Bradda Head's lithium portfolio consists of seven assets: 3 sedimentary lithium assets (Wikieup, Burro Creek East, and Burro Creek West); 1 pegmatite asset (San Domingo); and 3 brine assets (Wilson, Spencer and the Pennsylvania brines). The brine assets are split down again into salt flat brines (Wilson and Spencer) and the Pennsylvania oilfield brines.

With the funds it has available to it, Bradda Head is continuing to carry-out work on its Burro Creek East asset pre-IPO and additional permitting work at WIkieup. The remainder of the funds will be used to pay the professional and other costs of the proposed listing of the Company's shares on AIM.

Bradda Head is a BVI company which wholly owns 2 USA Subsidiaries (Zenolith and Verde Grande), which in turn hold the licences that make up the Lithium Assets.

The funds raised on Admission will be used to advance development of the portfolio of assets, a number of which to a defined JORC Resource stage.

DETAILS OF SECURITIES TO BE ADMITTED INCLUDING ANY RESTRICTIONS AS TO TRANSFER OF THE SECURITIES (i.e. where known, number and type of shares, nominal value and issue price to which it seeks admission and the number and type to be held as treasury shares):

Number of ordinary shares of no par value ("Ordinary Shares") for which Admission is being sought: 292,983,383

There are no restrictions as to the transferability of the Ordinary Shares.

The issue price of the new Ordinary Shares is 5.5 pence (the "Placing Price").

No Ordinary Shares are or will be held in treasury on Admission.

CAPITAL TO BE RAISED ON ADMISSION (AND/OR SECONDARY OFFERING) AND ANTICIPATED MARKET CAPITALISATION ON ADMISSION:

Capital to be raised on Admission: £6.2million

Anticipated market capitalisation on Admission £16.1 million (at the issue price of 5.5p)

PERCENTAGE OF AIM SECURITIES NOT IN PUBLIC HANDS AT ADMISSION:

48.6%

DETAILS OF ANY OTHER EXCHANGE OR TRADING PLATFORM TO WHICH THE AIM SECURITIES (OR OTHER SECURITIES OF THE COMPANY) ARE OR WILL BE ADMITTED OR TRADED:

None

FULL NAMES AND FUNCTIONS OF DIRECTORS AND PROPOSED DIRECTORS (underlining the first name by which each is known or including any other name by which each is known):

John Ian Stalker, Chairman

Charles Edward Millett FitzRoy, Chief Executive Officer

Denham Hervey Newell Eke, Finance Director

James (Jim) Mellon, Non-Executive Director

Euan William Jenkins, Independent Non-Executive Director

Michael Alexander Borrelli, Independent Non-Executive Director

FULL NAMES AND HOLDINGS OF SIGNIFICANT SHAREHOLDERS EXPRESSED AS A PERCENTAGE OF THE ISSUED SHARE CAPITAL, BEFORE AND AFTER ADMISSION (underlining the first name by which each is known or including any other name by which each is known):

	At the date of this Announcement % of Existing No. of Share		On Admission % of Enlarged No. of Share
Name	Shares	Capital	Shares	Capital
Jim Mellon¹	56,504,968	37.3%	64,078,322	21.9%
Zenith Minerals Limited²	22,727,771	15.0%	43,947,507	15.0%
Anthony Baillieu	14,088,723	9.3%	14,365,996	4.9%
Jason Macdonald³	14,095,706	9.3%	14,095,706	4.8%
IG Markets Ltd⁴	-	-	27,833,421	9.5%

Notes

¹ Jim Mellon's shares are held by Galloway Limited which is indirectly owned by Jim Mellon and of which Denham Eke is a director.

² Zenith Minerals Limited is an ASX-listed company of that name.

³Held by Bramlea Pty Ltd as trustee for the J & E Macdonald Trust, a trust of which Jason Macdonald is the ultimate beneficiary.

⁴23,287,966 shares, being 7.9% of the shares on Admission, held by IG Markets Ltd's are held on behalf of Mr. Liam Hale.

NAMES OF ALL PERSONS TO BE DISCLOSED IN ACCORDANCE WITH SCHEDULE 2, PARAGRAPH (H) OF THE AIM RULES:

None

(i) ANTICIPATED ACCOUNTING REFERENCE DATE

(ii) DATE TO WHICH THE MAIN FINANCIAL INFORMATION IN THE ADMISSION DOCUMENT HAS BEEN PREPARED (this may be represented by unaudited interim financial information)

(iii) DATES BY WHICH IT MUST PUBLISH ITS FIRST THREE REPORTS PURSUANT TO AIM RULES 18 AND 19:

(i) 28 February;

(ii) Audited accounts on the Company to 28 February 2021;

(iii) Half-yearly accounts for the six-month period ended 31 August 2021 by 30 November 2021, its accounts for the year ended 28 February 2022 on or before 31 August 2022. The Company will publish its interim report for the six months ending 31 August 2022 by 30 November 2022.

EXPECTED ADMISSION DATE:

19 July 2021

NAME AND ADDRESS OF NOMINATED ADVISER:

Beaumont Cornish Limited

Building 3,

Chiswick Park,

566 Chiswick High Road,

London W4 5YA

NAME AND ADDRESS OF BROKER:

Joint Brokers:

Peterhouse Capital Limited

80 Cheapside

London

EC2V 6DZ

Shard Capital Partners LLP

23rd Floor, 20 Fenchurch St

London

EC3M 3BY

OTHER THAN IN THE CASE OF A QUOTED APPLICANT, DETAILS OF WHERE (POSTAL OR INTERNET ADDRESS) THE ADMISSION DOCUMENT WILL BE AVAILABLE FROM, WITH A STATEMENT THAT THIS WILL CONTAIN FULL DETAILS ABOUT THE APPLICANT AND THE ADMISSION OF ITS SECURITIES:

The AIM Admission Document, which contains full details of the applicant and admission of its securities, is available from the Company's business address Viking House, Nelson Street, Douglas, Isle of Man IM1 2AH during normal business hours on any weekday (Saturdays and public holidays excepted) and shall remain available for at least one month after Admission. An electronic version of this Document can be downloaded from the Company's website: www.braddaheadltd.com.

THE CORPORATE GOVERNANCE CODE THE APPLICANT HAS DECIDED TO APPLY

QCA Corporate Governance Code

DATE OF NOTIFICATION:

5 July 2021

NEW/ UPDATE:

NEW

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RNS metadata

Title: Schedule One - Bradda Head Holdings Limited
Time: 08:00:09
Date: 5 Jul 2021
Category: Capital structure
ID: 0678E