Richmond Hill Resources Plc - Conditional Sale of Subsidiaries
PR Newswire
LONDON, United Kingdom, June 05
Richmond Hill Resources Plc
("Richmond Hill " or the "Company")
Conditional Sale of Subsidiaries
Richmond Hill (AQSE: SHNJ), is pleased to announce that further to the announcement of 3 February 2025, the Company has entered in a binding term sheet with respect to the sale of Shinju Whiskey LLC and Shinju Spirits Inc., to Intergen I Limited Partnership ("Intergen I"). The consideration for the sale will be £10,000. As previously stated in the Company's Notice of General Meeting dated 3 February 2025, the Company will be seeking approval from shareholders for the disposal of these last two remaining subsidiaries, that will also be subject to the publication of an AIM admission document. A further announcement will be made in due course.
Intergen I is 50% owned by Ryan Dolder, Chief Executive Officer of the Company, and therefore the sale to Intergen I constitutes a related party transaction pursuant to the Aquis Growth Market Access Rulebook. Having considered the terms of the sale, and having exercised reasonable care, skill and diligence, Hamish Harris, the independent Director for the purpose of the sale to Intergen I, considers that Ryan's participation is fair and reasonable insofar as the shareholders of the Company are concerned.
The directors of the Company accept responsibility for the contents of this announcement.
This announcement contains inside information for the purposes of the UK Market Abuse Regulation and the Directors of the Company are responsible for the release of this announcement.
For further information, please contact:
The Company
Hamish Harris
hharris@roguebaron.com
AQSE Corporate Adviser and Broker:
Peterhouse Capital Limited
+44 (0) 20 7469 0936
Joint Broker:
Clear Capital Limited
Bob Roberts +44 (0) 20 3869 6080
Forward Looking Statements
This announcement contains forward-looking statements relating to expected or anticipated future events and anticipated results that are forward-looking in nature and, as a result, are subject to certain risks and uncertainties, such as general economic, market and business conditions, competition for qualified staff, the regulatory process and actions, technical issues, new legislation, uncertainties resulting from potential delays or changes in plans, uncertainties resulting from working in a new political jurisdiction, uncertainties regarding the results of exploration, uncertainties regarding the timing and granting of prospecting rights, uncertainties regarding the Company's ability to execute and implement future plans, and the occurrence of unexpected events. Actual results achieved may vary from the information provided herein as a result of numerous known and unknown risks and uncertainties and other factors.
