Oriole Resources plc has conditionally raised £1.8 million via a placing of 750m new ordinary shares of 0.1 pence each, and £230,000 through a retail offer of 96,640,463 new ordinary shares, at a price of 0.24 pence per share.
TVRs
The placing price is equal to the bid price of the company’s ordinary shares at close of market on 13 November 2025.
Oriole’s placing agent, Shard Capital Partners LLP, directly subscribed for £120,000.
The company’s investment research provider Greenwood Capital Partners Ltd also participated, while RAB Capital Group took 13.3% of the placing and will hold approximately 2.1% of Oriole after admission.
Each placing and offer share carries one warrant, each with an exercise price of 0.36 pence.
Four Oriole directors also took part in the 14 November placing, after which they, including the fifth, independent non-executive director David Pelham, will collectively hold approximately 6.7% of the company’s issued share capital.
Independent non-executive chair Eileen Carr subscribed for 20,833,333 shares and will hold 217,506,302 shares, 62.3 million options and 20,833,333 warrants after admission.
Chief executive officer Martin Rosser subscribed for 10,416,667 shares, taking his interests to 217,506,302 shares, 30m options and 10,416,666 warrants.
Chief financial officer Robert Smeeton subscribed for 2.5 million shares to have a total of 47,007,458 shares, 91,383,952 options and 2.5m warrants.
Executive director exploration & business development Claire Bay subscribed for 1,666,667 new shares, taking her interests to 16,303,296 shares, 74.35m options and 1,666,666 warrants.
Following admission, Oriole’s issued ordinary share capital will comprise 4,764,342,801 ordinary shares, each with one voting right.
The company does not hold any ordinary shares in treasury.
USES
Net proceeds will fund drilling at Mbe gold project, “extensive” exploration on the Ndom, Pokor and Tenoukou licences within the eastern eastern central licence package .
The company will also complete technical studies to support an exploitation licence application for the Bibemi project.