Mendell Helium, the helium production company with operations in Kansas, announces the following issues of equity to a Director and members of its staff in accordance with share-based remuneration arrangements agreed with them and an additional issue of equity to professional advisers.
Nick Tulloch, Chief Executive Officer, will receive 750,000 new ordinary shares of 1 pence each (“Ordinary Shares”), as payment in lieu of £22,500 of accrued remuneration for the period from 1 January 2026 to 31 March 2026. Pursuant to the arrangements announced on 23 June 2025, the new Ordinary Shares will be issued at a price of 3.0 pence per share, being a price equal to the issue price of the Company’s subscription announced on 20 January 2026.
Following this issuance, the total number of Ordinary Shares that will be held following Admission by Nick Tulloch, a director of the Company, is as follows:
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Name |
New Ordinary Shares to be issued |
Total Ordinary Shares held in the Company following Admission |
Percentage of the Company’s enlarged issued ordinary share capital following Admission |
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Nick Tulloch |
750,000 |
6,323,9831 |
1.85% |
1Including shares held by his spouse and Fetlar Capital, a company controlled by Nick Tulloch and his spouse.
Mendell Helium has also issued 500,000 new Ordinary Shares to each of two US based members of the M3 Helium Corp. (“M3 Helium”) team (“Consultant Shares”). These individuals previously supported M3 Helium as consultants and, ahead of the completion of the Company’s acquisiton of M3 Helium, joined the team thereby strengthening M3 Helium’s capabilities to advance its projects. In both cases, the issue of the Consultant Shares is in lieu of services provided as well as securing their commitment and incentivising their performance. These Consultant Shares will be issued at a price of 4.0 pence per share, being a price equal to the issue price of the Company’s placing announced on 30 April 2026.
Additional Issue of Equity
The Company has agreed to issue and allot 200,000 new Ordinary Shares at a price of 3.0 pence per share as payment in lieu of approximately £6,000 of accrued quarterly fees owed by the Company to a professional adviser. In addition, the Company has agreed to issue 625,000 new Ordinary Shares to a professional adviser as part of its remuneration in connection with the Company’s AIM admission workstreams. These new Ordinary Shares will be issued at a price of 4.0 pence per share, being a price equal to the issue price of the Company’s placing announced on 30 April 2026.
Admission
Application will be made for the 2,575,000 new Ordinary Shares to be admitted to trading on the Aquis Stock Exchange AQSE Growth Market (“Admission”). Admission is expected to occur at 8:00 am on or around 2 June 2026. The new Ordinary Shares will rank pari passu with the existing ordinary shares.
Total Voting Rights
Following Admission, the Company’s enlarged share capital will comprise 340,761,938 Ordinary Shares of 1 pence each. Therefore, the total number of voting rights in the Company will be 340,761,938. This figure may be used by shareholders as the denominator for calculations by which they will determine if they are required to notify their interest in the Company, or a change to their interest in the Company, under the Financial Conduct Authority’s Disclosure Guidance and Transparency Rules.
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.
ENDS
Engage with the Mendell Helium management team directly by asking questions, watching video summaries and seeing what other shareholders have to say. Navigate to our Interactive Investor website here: https://mendellhelium.com/link/PKa6Ve
Enquiries:
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Investor questions on this announcement We encourage all investors to share questions on this announcement via our investor website
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Mendell Helium plc Nick Tulloch, CEO
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Via our website investors@mendellhelium.com |
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Cairn Financial Advisers LLP (AQSE Corporate Adviser) Ludovico Lazzaretti / Liam Murray
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Tel: +44 (0) 20 7213 0880 |
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SI Capital Limited (Broker) Nick Emerson
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Tel: +44 (0) 1483 413500 |
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Fortified Securities Guy Wheatley
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Tel: +44 (0) 203 4117773
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Tel: +44 (0) 20 3973 3678 |
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AlbR Capital Limited Gavin Burnell / Colin Rowbury / Jon Belliss
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Tel: +44 (0) 207 4690930
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Brand Communications (Public & Investor Relations) Alan Green |
Tel: +44 (0) 7976 431608 |