REG - Aterian PLC - Variation of Warrants and Issue of New Shares

AterianAnnouncement

08/11/2024 17:30

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RNS Number : 6030L  Aterian PLC  08 November 2024

08 November 2024

 

Variation of Warrants and Issue of New Shares

 

Aterian Plc

("Aterian" or the "Company")

Aterian Plc (LSE: ATN), ("Aterian" or the "Company") announces a variation to
the terms of certain warrants and an issue of new shares.

The Company has in issue 1,295,718 warrants to subscribe for new ordinary
shares of 10 pence each ("Shares") at an exercise price of 150 pence,
exercisable at any time until 30 December 2025 ("Warrants").  Holders of the
Warrants were given the opportunity to voluntarily accept a change to these
terms such that the exercise price was lowered to 50 pence and the expiration
date amended to 14 November 2024.  The holders of 270,834 Warrants elected to
accept these amended terms with the remainder choosing to remain on the
original terms.

Consequently, the Company has issued a total of 270,834 Shares at a price of
50 pence per share from the exercise of warrants and issued an additional
86,400 ordinary Shares at 50 pence per share to certain suppliers in lieu of
outstanding fees. The proceeds of the warrant exercise will be used for
general corporate and financial expenses. Those warrant holders not taking up
the offer retain their warrant positions which remain as they were prior to
the the offer.

Application is being made for the 357,234 new Shares to be admitted to the
Official List and to trading on the Main Market of the London Stock Exchange
which is expected to be on or around 14 November 2024. These shares rank pari
passu with the existing Shares of the Company.  Following the issue of the
357,234 new Shares, the Company's issued ordinary share capital shall consist
of 12,037,044  Shares.

This figure of 12,037,044  represents the total voting rights in the Company
and should be used by shareholders as the denominator for the calculation by
which they can determine if they are required to notify their interest in, or
a change to their interest in, the Company under the Financial Conduct
Authority's Disclosure Guidance & Transparency Rules.

- ENDS -

 

This announcement contains information which, prior to its disclosure, was
inside information as stipulated under Regulation 11 of the Market Abuse
(Amendment) (EU Exit) Regulations 2019/310 (as amended).

 

For further information, please visit the Company's website:
www.aterianplc.com (http://www.aterianplc.com) or contact:

 

 

Aterian Plc:

Charles Bray, Executive Chairman - charles.bray@aterianplc.com
(mailto:charles.bray@aterianplc.com)

Simon Rollason, Director - simon.rollason@aterianplc.com
(mailto:simon.rollason@aterianplc.com)

 

Financial Adviser and Joint Broker:

Novum Securities Limited

David Coffman / George Duxberry

Colin Rowbury

Tel: +44 (0)207 399 9400

 

Joint Broker:

SP Angel Corporate Finance LLP

Ewan Leggat / Adam Cowl

Tel: +44 20 3470 0470

 

Financial PR:

Bold Voodoo - ben@baldvoodoo.com

Ben Kilbey

Tel: +44 (0)7811 209 344

Notes to Editors:

About Aterian plc

www.aterianplc.com (http://www.aterianplc.com)

 

Aterian plc is an LSE-listed exploration and development company with a
diversified African portfolio of critical metals projects.

Aterian plc is actively seeking to acquire and develop new critical metal
resources to strengthen its existing asset base whilst supporting ethical and
sustainable supply chains as the world transitions to a sustainable, renewable
future. The supply of these metals is vital for the development of the
renewable energy, automotive and electronic manufacturing sectors that are
playing an increasing role in reducing carbon emissions and meeting climate
ambitions globally.

 

The Company has entered into a joint venture agreement with Rio Tinto Mining
and Exploration Limited for Rio Tinto to earn into the HCK project in
southern Rwanda and holds two further partnerships in Rwanda exploring and
developing lithium-tantalum-niobium-tin mining operations. Aterian currently
holds a portfolio of multiple copper-silver and base metal projects in the
Kingdom of Morocco, with a total area of 897 km(2). In January 2024, the
Company announced the acquisition of a 90% interest in Atlantis Metals. This
private Botswana registered company holds seven mineral prospecting licences
for copper-silver in the Kalahari Copperbelt and three for lithium brine
exploration in the Makgadikgadi Pans region. The total licence area in
Botswana is 4,486 km(2).

 

The Company's strategy is to seek new exploration and production opportunities
across the African continent and to develop new sources of critical mineral
assets for exploration, development, and trading.

 

 

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