PDMR Dealing
Cobra, the mining exploration company focused on the Wudinna Gold Project in South Australia, announces that 2,000,000 ordinary shares will be issued to Craig Moulton, the Managing Director, upon successful completion of stage 1 of the Wudinna Gold Project, in accordance with the terms of his services agreement. The stage 1 work programme is expected to complete imminently and will see the Company secure its initial 50% stake in the project.
Application has been made to the UK Listing Authority and the London Stock Exchange for the 2,000,000 ordinary shares of 1p each to trade on The London Stock Exchange and to be admitted to The Official List. The 2,000,000 ordinary shares will rank equally with the existing issued shares of the Company.
Admission of the shares is expected to take place at 8.00 am on 10 November 2020.
Block Listing Application
For administrative purposes, application has also been made to The UK Listing Authority and The London Stock Exchange for a block listing of 106,182,623 ordinary shares of 1p each to trade on The London Stock Exchange and to be admitted to The Official List in respect of 106,182,623 warrants, all with an exercise price of 2p.
For the avoidance of doubt, the block listing application is only a cost-efficient administrative provision to ensure that the Company would not need to make multiple applications for admissions on each separate occasion, should any warrants be exercised by holders. It is not an application to list the warrants themselves on any regulated market. The warrants remain in uncertificated form and there are no changes to the terms and conditions of the warrants.
The 106,182,623 ordinary shares will rank equally with the existing issued shares of the Company. The block listing scheme will be known as “Warrants with a 2p exercise price”.
Admission of the shares is expected to take place at 8.00 am on 10 November 2020.
