REG - Firering Strategic - Extension to Bridge Loan Notes

Firering Strategic MineralsAnnouncement

19/05/2026 11:00

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RNS Number : 9206E  Firering Strategic Minerals PLC  19 May 2026

Firering Strategic Minerals plc / EPIC: FRG / Market: AIM / Sector: Mining

19 May 2026

Firering Strategic Minerals plc

("Firering" or the "Company")

 

Extension to Bridge Loan Notes; Related Party Transactions

 

Firering Strategic Minerals plc (AIM: FRG), an emerging producer and developer
of industrial and critical minerals, announces that it has agreed amendments
to its existing £805,278 bridge loan notes issued in November 2024 (the
"Bridge Loan Notes") (see RNS dated 15 November 2024).

 

The amendments are as follows: 1) the repayment date of the Bridge Loan Notes
is extended from 15 May 2026 to 15 May 2027; 2) the interest on the Bridge
Loan Notes will continue to accrue interest at 15% per annum with interest
payable semi-annually, and a minimum 7.5% return to holders of Bridge Loan
Notes ("Noteholders") should the Bridge Loan Notes be repaid early within the
next 6 months; and 3) payment of a one-off arrangement fee to Noteholders
equal to 5 per cent. of the aggregate principal amount of the Bridge Loan
Notes, payable on or before 31 May 2026. All other terms of the Bridge Loan
Notes remain unchanged.

 

Any material amendment to the terms of the Bridge Loan Notes requires the
approval of at least 75% of Noteholders. Such consent having been obtained,
the Company has executed a deed poll to give effect to the amendments set out
above and consequentially they are binding on all Noteholders.

 

Youval Rasin, Chairman and Interim CEO of Firering, commented: "The Board
appreciates the continued support of its Noteholders, with the amended terms
providing the Company with additional financial flexibility as its key asset,
Limeco, continues to scale production and advance towards its next phase of
operational growth."

 

Related Party Transactions

Certain directors of the Company, being Youval Rasin, Shai Kol and Vassilios
Carellas (the "Participating Directors"), together with persons closely
associated, participated in the original Bridge Loan Notes issued in November
2024, as set out below:

 Name of Director    Notes Held (£)
 Youval Rasin        £50,000
 Shai Kol            £25,000
 Vassilios Carellas  £37,500

 

The amendments to the terms of the Bridge Loan Notes in respect of the
Participating Directors constitute related party transactions pursuant to AIM
Rule 13 of the AIM Rules for Companies.

 

The independent Director for the purposes of these related party transactions,
being Remy Welschinger, considers, having consulted with SPARK Advisory
Partners Limited, the Company's nominated adviser, that the terms of the
amendments to the Bridge Loan Notes relating to the Participating Directors
are fair and reasonable insofar as Shareholders are concerned.

 

ENDS

 

For further information visit www.fireringplc.com or contact:

 

 Firering Strategic Minerals                          E: info@firering-holdings.com

 Youval Rasin
 SPARK Advisory Partners Limited (Nominated Adviser)  T: +44 20 3368 3550

 Neil Baldwin / James Keeshan
 Shard Capital Partners LLP (Joint Broker)            T: +44 20 7186 9950

 Damon Heath / Erik Woolgar
 St Brides Partners Limited (Financial PR)            E: firering@stbridespartners.co.uk

 Isabel de Salis / Susie Geliher

 Notes

Firering Strategic Minerals plc (AIM: FRG) is an Africa-focused producer and
developer of industrial and critical minerals. The Company's near-term focus
is the ramp-up of production at the Limeco project in Zambia, where Firering
holds a 36.2% interest with an option to increase this to 45%. Once fully
optimised, Limeco is expected to be among the largest lime operations in the
region, supplying a range of mining, agricultural and industrial customers.
Firering's portfolio also includes the highly prospective Atex
Lithium-Tantalum Project in northern Côte d'Ivoire.

 

 

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