REG - Altona Rare Earths - PDMR Dealings and Issue of Equity

Altona Rare EarthsAnnouncement

08/04/2025 07:00

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RNS Number : 0064E  Altona Rare Earths PLC  08 April 2025

 

8 April 2025

 

 

ALTONA RARE EARTHS PLC

("Altona" or "the Company")

 

PDMR Dealings and Issue of Equity

 

Altona (LSE: REE), a resource exploration and development company focused on
critical raw materials in Africa, announces that it has issued new ordinary
shares to Directors and a service provider in lieu of salaries and fees.

 

Payments to Directors

On 8 April 2025, the Company issued 2,080,494 ordinary shares of £0.01
("shares") each in lieu of cash salary payments for directors. This was in
accordance with the cash conservation measures agreed, as an ongoing monthly
arrangement.  The number of issued shares was calculated by dividing the
amount of monthly salary or fees to be paid in shares by the volume weighted
average price ("VWAP") of the ordinary shares during the last 10 days of the
calendar period that the services were provided, being an average of 1.5 pence
per share.

 

Of the total number of shares issued, 2,080,494 were issued to PDMR's as shown
in the table below:

 

 PDMR                  Number of Shares Issued  Total Holding following Issue of Shares  Percentage Holding following Issue of Shares
 Cedric Simonet        573,276                  3,398,986                                2.04%
 Louise Adrian         1,194,304                5,534,594                                3.32%
 Simon Charles         179,148                  781,148                                  0.47%
 Kristoffer Andersson  133,766                  133,766                                  0.08%

 

The Company also issued 1,645,944 shares to a service provider in lieu of fees
of £20,160.

 

Admission and Total Voting Rights

Application is being made for the new ordinary shares to be admitted to
trading on the Main Market of the London Stock Exchange which is expected to
be on or around 9 April 2025. Following this issue of 3,726,438 shares, which
will rank pari passu with the Company's existing ordinary shares, the
Company's enlarged share capital and total voting rights in the Company will
comprise 166,742,304.  The Company has no shares held in Treasury.  This
figure of 166,742,304 ordinary shares may be used by shareholders in the
Company as the denominator for the calculations by which they will determine
if they are required to notify their interest in, or a change in their
interest in, the share capital of the Company under the FCA's Disclosure
Guidance and Transparency Rules.

 

Notification and public disclosure of transactions by Persons Discharging
Managerial Responsibilities (PDMR) and persons closely associated with them.

 1.  Details of the person discharging managerial responsibilities/person closely
     associated
 a)  Name:                                                         Cedric Simonet
 2.  Reason for the notification
 a)  Position/status:                                              CEO
 b)  Initial notification/Amendment:                               Initial notification
 3.  Details of the issuer, emission allowance market participant, auction
     platform, auctioneer or auction monitor
 a)  Name:                                                         Altona Rare Earths Plc
 b)  LEI:                                                          2138002A5GU9BFS2I491
 4.  Details of the transaction(s): section to be repeated for (i) each type of
     instrument; (ii) each type of transaction; (iii) each date; and (iv) each
     place where transactions have been conducted
 a)  Description of the financial instrument, type of instrument:  Ordinary shares of £0.01

Identification code:
ISIN Code: GB00BFZNKV91
 b)  Nature of the transaction:                                     Ordinary Shares issued in lieu of salary
 c)  Price(s) and volume(s):                                       Price(s)  Volume(s)
                                                                   £0.0131   573,276
 d)  Aggregated information:                                       -

·Aggregated volume:

·Price:
 e)  Date of the transaction:                                      7 April 2025
 f)  Place of the transaction:                                     Outside of a trading venue

d)

Aggregated information:

·Aggregated volume:

·Price:

-

e)

Date of the transaction:

7 April 2025

f)

Place of the transaction:

Outside of a trading venue

 

Responsibilities (PDMR) and persons closely associated with them.

 1.  Details of the person discharging managerial responsibilities/person closely
     associated
 a)  Name:                                                         Louise Adrian
 2.  Reason for the notification
 a)  Position/status:                                              Chief Finance Officer
 b)  Initial notification/Amendment:                               Initial notification
 3.  Details of the issuer, emission allowance market participant, auction
     platform, auctioneer or auction monitor
 a)  Name:                                                         Altona Rare Earths Plc
 b)  LEI:                                                          2138002A5GU9BFS2I491
 4.  Details of the transaction(s): section to be repeated for (i) each type of
     instrument; (ii) each type of transaction; (iii) each date; and (iv) each
     place where transactions have been conducted
 a)  Description of the financial instrument, type of instrument:  Ordinary shares of £0.01

Identification code:
ISIN Code: GB00BFZNKV91
 b)  Nature of the transaction:                                     Ordinary Shares issued in lieu of salary
 c)  Price(s) and volume(s):                                       Price(s)  Volume(s)
                                                                   £0.0157   1,194,304

 d)  Aggregated information:                                       -

·Aggregated volume:

·Price:
 e)  Date of the transaction:                                      7 April 2025
 f)  Place of the transaction:                                     Outside of a trading venue

d)

Aggregated information:

·Aggregated volume:

·Price:

-

e)

Date of the transaction:

7 April 2025

f)

Place of the transaction:

Outside of a trading venue

 

Responsibilities (PDMR) and persons closely associated with them.

 1.  Details of the person discharging managerial responsibilities/person closely
     associated
 a)  Name:                                                         Simon Charles
 2.  Reason for the notification
 a)  Position/status:                                              Non-Executive Director - Chairman
 b)  Initial notification/Amendment:                               Initial notification
 3.  Details of the issuer, emission allowance market participant, auction
     platform, auctioneer or auction monitor
 a)  Name:                                                         Altona Rare Earths Plc
 b)  LEI:                                                          2138002A5GU9BFS2I491
 4.  Details of the transaction(s): section to be repeated for (i) each type of
     instrument; (ii) each type of transaction; (iii) each date; and (iv) each
     place where transactions have been conducted
 a)  Description of the financial instrument, type of instrument:  Ordinary shares of £0.01

Identification code:
ISIN Code: GB00BFZNKV91
 b)  Nature of the transaction:                                     Ordinary Shares issued in lieu of salary
 c)  Price(s) and volume(s):                                       Price(s)  Volume(s)
                                                                   £0.0131   179,148
 d)  Aggregated information:                                       N/A

·Aggregated volume:

·Price:
 e)  Date of the transaction:                                      7 April 2025
 f)  Place of the transaction:                                     Outside of a trading venue

d)

Aggregated information:

·Aggregated volume:

·Price:

N/A

e)

Date of the transaction:

7 April 2025

f)

Place of the transaction:

Outside of a trading venue

 

Responsibilities (PDMR) and persons closely associated with them.

 1.  Details of the person discharging managerial responsibilities/person closely
     associated
 a)  Name:                                                         Kristoffer Andersson
 2.  Reason for the notification
 a)  Position/status:                                              Non- Executive Director
 b)  Initial notification/Amendment:                               Initial notification
 3.  Details of the issuer, emission allowance market participant, auction
     platform, auctioneer or auction monitor
 a)  Name:                                                         Altona Rare Earths Plc
 b)  LEI:                                                          2138002A5GU9BFS2I491
 4.  Details of the transaction(s): section to be repeated for (i) each type of
     instrument; (ii) each type of transaction; (iii) each date; and (iv) each
     place where transactions have been conducted
 a)  Description of the financial instrument, type of instrument:  Ordinary shares of £0.01

Identification code:
ISIN Code: GB00BFZNKV91
 b)  Nature of the transaction:                                     Acquisition of shares in market place
 c)  Price(s) and volume(s):                                       Price(s)  Volume(s)
                                                                   £0.0131   133,766

 d)  Aggregated information:                                       -

·Aggregated volume:

·Price:
 e)  Date of the transaction:                                      7 April 2025
 f)  Place of the transaction:                                     Outside of a trading venue

d)

Aggregated information:

·Aggregated volume:

·Price:

-

e)

Date of the transaction:

7 April 2025

f)

Place of the transaction:

Outside of a trading venue

 

-ends-

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Altona Rare Earths Plc

Cédric Simonet, CEO
 
+44 (0) 7778 866 108

Louise Adrian,
CFO
+44 (0) 7721 492 922

 

Strand Hanson (Financial Adviser)
 
+44 (0) 20 7409 3494

Christopher Raggett

 

About Altona Rare Earths Plc

 

Altona is a resource exploration and development company focused on critical
raw materials in Africa. The Company is listed on the Main Market of the
London Stock Exchange with the ticker "REE". The Company currently holds
copper, fluorspar and rare earths projects.

 

The Monte Muambe rare earths and fluorspar projects is located in Northwest
Mozambique. The Project was acquired in June 2021, and the Company has so far
drilled over 7,800m, and defined a maiden JORC Mineral Resource Estimate of
13.6 million tons at 2.42% TREO. A Competent Person Report including the
Scoping Study for Monte Muambe was published on 18 October 2023. The Project
is now at Prefeasibility Study stage, with a focus on metallurgical testing
for rare earths extraction.

 

The Company is also assessing the possibility of rapidly putting in production
high-grade fluorspar veins occurring at Monte Muambe along the western margin
of the rare earth bearing carbonatite intrusion.

 

Altona is presently diversifying its portfolio by acquiring a limited number
of critical raw material projects to complement Monte Muambe. The acquisitions
of the Kabompo South copper project in Zambia and of the Sesana copper-silver
project in Botswana, located just 25 km from MMG's Khoemacau Zone 5
copper-silver mine, represent the first steps towards the implementation of
this expanded strategy.

 

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