REG - Critical Metals PLC - Exercise and Extension of Warrants

Critical MetalsAnnouncement

26/09/2022 07:00

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RNS Number : 5347A  Critical Metals PLC  26 September 2022

 

 

 

Critical Metals plc / EPIC: CRTM / Market: Main Market / Sector: Closed End
Investments

 

26 September 2022

Critical Metals plc

("Critical Metals" or the "Company")

 

 

Exercise of Warrants & Extension of Warrants

 

 

Critical Metals plc, a mining company established to acquire mining
opportunities in the critical and strategic metals sector, currently
developing an ex-producing copper cobalt mine in the Democratic Republic of
Congo ("DRC"), is pleased to announce that it has received warrant exercise
notices to subscribe for a total of 550,000 new ordinary shares of £0.005
each in the Company ("Ordinary Shares") (the "Warrant Shares").

The Warrant Shares are being issued pursuant to the exercise of 550,000
warrants over Ordinary Shares at an exercise price of 10 pence per Ordinary
Share for total gross proceeds of £55,000.

In addition, the Company has agreed to issue 37,500 Ordinary Shares in the
Company at a price of 20 pence per share in lieu of professional services
provided ("Fee Shares").

Admission and Total Voting Rights

Application has been made for the 550,000 Warrant Shares and the 37,500 Fee
Shares to be admitted to the standard segment of the Official List and to
trading on the main market for listed securities of the London Stock Exchange,
and admission of the Warrant Shares and the Fee Shares is expected to occur on
or around 29 September 2022 ("Admission"). The Warrant Shares and the Fee
Shares will rank pari passu with the existing Ordinary Shares.

For the purpose of the Disclosure and Transparency Rules, following Admission
the enlarged issued share capital of the Company will comprise 53,247,235
Ordinary Shares. The Company does not hold any shares in treasury. The above
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, under the Disclosure and
Transparency Rules.

Extension of Warrants granted in September 2020

The Company has the following number of warrants outstanding, which are
exercisable on or before 28 September 2022: (i) 3,140,000 warrants exercisable
at 10 pence per share ("10p Warrants"); and (ii) 3,550,714 warrants
exercisable at 5 pence per share ("5p Warrants") (together the "IPO
Warrants"). These IPO Warrants were granted at the time of the admission of
the Company's Ordinary Shares to the standard segment of the Official List and
to trading on the main market for listed securities of the London Stock
Exchange plc on 29 September 2020.

The Board of the Company has decided to extend the date by which the IPO
Warrants are to be exercised to 31 March 2023.  All other terms and
conditions of the IPO Warrants remain the same.

The Directors of the Company hold certain of the IPO Warrants, as follows:

 Director              IPO Warrants  Exercise Price  Date of Grant
 Russell Fryer         571,428       5p              29/9/20
 Russell Fryer         400,000       10p             29/9/20
 Anthony Eastman(*)    1,000,000     5p              29/9/20
 Marcus Edwards-Jones  200,000       5p              29/9/20

(*)Held by Orana Corporate LLP, of which Anthony Eastman is a partner

Certain information contained in this announcement would have been deemed
inside information for the purposes of Article 7 of Regulation (EU) No
596/2014 until the release of this announcement.

 

 

 

**ENDS**

 

For further information on the Company please visit www.criticalmetals.co.uk
(http://www.criticalmetals.co.uk) or contact:

 

 Russell Fryer                      Critical Metals plc                           Tel: +44 (0)20 7236 1177

 Rory Murphy / James Bellman        Strand Hanson Limited                         Tel: +44 (0)20 7409 3494

                                    Financial Adviser

 Lucy Williams /                    Peterhouse Capital Limited, Corporate Broker  Tel: +44 (0)20 7469 0936

 Heena Karani                                                                     Tel: +44 (0)20 7469 0933

 Catherine Leftley/Isabelle Morris  St Brides Partners Ltd,                       Tel: +44 (0)20 7236 1177

                                    Financial PR

 

 

 

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