REG - Capital Metals PLC - First Tranche of Ambeon Option Exercised

Capital MetalsAnnouncement

Yesterday 07:02

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RNS Number : 0030U  Capital Metals PLC  05 August 2025

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS STIPULATED UNDER THE UK
VERSION OF THE MARKET ABUSE REGULATION NO 596/2014 WHICH IS PART OF ENGLISH
LAW BY VIRTUE OF THE EUROPEAN (WITHDRAWAL) ACT 2018, AS AMENDED. ON
PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS
INFORMATION IS CONSIDERED TO BE IN THE PUBLIC DOMAIN.

 

5 August 2025

 

Capital Metals PLC

("Capital Metals" or the "Company")

 

First Tranche (~US$825k) of Ambeon Option Exercised

 

Capital Metals (AIM: CMET), a mineral sands company approaching mine
development stage at the high-grade Taprobane Minerals Project in Sri Lanka
(the "Project"), is pleased to announce it has received subscriptions for
approximately the first ~US$825,000 of investments pursuant to the US$2
million Ambeon Option as announced on 29 May 2025.

 

Ambeon has advised the Company that it has exercised its right to assign the
option in parts to third parties who have now subscribed in aggregate for
22,713,704 new Ordinary shares in the Company ("First Tranche Subscription
Shares") at an issue price of 2.75 pence per share.

 

Ambeon has further informed the Company that it expects to secure the balance
within the Ambeon Option period which was extended to 11 August 2025 (as
announced on 16 July 2025) and therefore intend to exercise the Ambeon Option
in full.

 

The proceeds will be used to obtain all necessary approvals to reach FID, with
any amounts remaining to be used for general working capital and applied
towards capital expenditure in connection with Stage 1 of the Project.

 

Greg Martyr, Executive Chairman of Capital Metals, commented:

"We have been working effectively with Ambeon to ensure the US$2 million
option is exercised in full to achieve the total US$4 million strategic
investment as announced in late May. We look forward to finalising the Ambeon
Option and working together towards the development of the Project, cementing
a funding path to positive cash flow."

Admission and Total Voting Rights

Application will be made for the First Tranche Subscription Shares to be
admitted to trading on AIM ("Admission"). It is expected that Admission will
become effective and dealings will commence at 8.00 a.m. on or around 6 August
2025. The First Tranche Subscription Shares will rank pari passu with the
Ordinary shares of the Company in issue. A further announcement will be made
regarding the balance of the Ambeon Option when appropriate.

 

Following Admission, the total number of Ordinary shares in the capital of the
Company in issue will be 452,615,997 with voting rights. This figure may be
used by shareholders as the denominator for the calculations by which they
will determine if they are required to notify their interest in, or a change
to their interest in, the Company's share capital pursuant to (i) the
Company's Articles, (ii) the Financial Conduct Authority's Disclosure Guidance
and Transparency Rules and/or (iii) the AIM Rules for Companies issued by the
London Stock Exchange plc as amended from time to time.

Capitalised terms used herein without definition shall have the same meanings
given to them as in the 29 May 2025 announcement released at 7.00 a.m.

For further information, please visit www.capitalmetals.com
(http://www.capitalmetals.com) or contact:

 Capital Metals plc                                      Via Vigo Consulting

 Greg Martyr (Executive Chairman)
 Vigo Consulting (Investor Relations)                    +44 (0)20 7390 0234

 Ben Simons / Peter Jacob                                capitalmetals@vigoconsulting.com (mailto:capitalmetals@vigoconsulting.com)
 Strand Hanson Limited (Nominated Adviser)               +44 (0) 20 7409 3494

 Ritchie Balmer / Christopher Raggett / David Asquith
 Hannam & Partners (Broker & Financial Adviser)          +44 (0)20 7907 8500
 Andrew Chubb / Leif Powis

 

About Capital Metals

Capital Metals is a UK company listed on the London Stock Exchange (AIM:
CMET). We are developing the Taprobane Minerals Project in Sri Lanka,
approximately 220km east of Colombo, containing industrial minerals including
ilmenite, rutile, zircon, and garnet. The Project is one of the highest-grade
mineral sands projects globally, with potential for further grade and resource
expansion. In 2022, a third-party Preliminary Economic Assessment provided a
Project NPV of US$155-235m based on existing resources, with further
identified optimisation potential. We are committed to applying modern mining
practices and bringing significant positive benefits to Sri Lanka and the
local community. We expect over 300 direct new jobs to be created and over
US$150m in direct government royalties and taxes to be paid.

 

Visit our website:

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

 

Follow us on social media:

 

X: @MetalsCapital (https://twitter.com/MetalsCapital)

LinkedIn: @Capital Metals plc (https://uk.linkedin.com/company/capitalmetals)

 

Ambeon Capital PLC

Ambeon Capital PLC is a Colombo Stock Exchange listed diversified conglomerate
with strategic interests across key sectors, including information technology,
financial services, real estate and strategic investments in Sri Lanka. Ambeon
is seeking to invest in mineral sands assets in Sri Lanka and to assist with
their development and operation. Guided by a long-term value creation
approach, the group actively manages its portfolio to unlock synergies and
drive sustainable growth across its verticals. Ambeon continues to reinforce
its position as a dynamic player in Sri Lanka's capital markets, leveraging
sectoral expertise and strategic foresight to deliver enduring value to its
stakeholders.

 

 

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