REG - First Class Metals - Board Changes and Update on Fundraise

FIRST CLASS METALSAnnouncement

31/03/2025 07:15

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RNS Number : 7761C  First Class Metals PLC  31 March 2025

 

The information contained within this announcement is deemed to constitute
inside information as stipulated under the retained EU law version of the
Market Abuse Regulation (EU) No. 596/2014 (the "UK MAR") which is part of UK
law by virtue of the European Union (Withdrawal) Act 2018. The information is
disclosed in accordance with the Company's obligations under Article 17 of the
UK MAR. Upon the publication of this announcement, this inside information is
now considered to be in the public domain.

 

 

 

FIRST CLASS METALS PLC

31(st) March 2025

Board Changes

Update on Fundraise

 

First Class Metals PLC (FCM) hereby announces the resignation of David Webster
as director and Non-Executive Chairman with immediate effect. Mr. Webster has
decided to focus his efforts towards The Seventy Ninth Group, particularly to
address the recent allegations made by the City of London Police concerning
the group. Whilst Mr. Webster was one of the four members of The Seventy Ninth
Group questioned by the City of London Police, he was released on bail without
charge, contrary to some media speculation.

The Company is pleased to announce the proposed appointment of Christopher
Johnson as Non-Executive Director. Mr. Johnson, currently serving as Chief
Operating Officer of The Seventy Ninth Group, brings over twenty years of
experience in legal practice to the board. His appointment is subject to
completion of the customary due diligence procedures.

James Knowles, currently the Company's Managing Director, will resume the role
as Executive Chairman.

Additionally,  whilst it remains the intention to complete the second stage
of  The Seventy Ninth Group's investment into FCM it will not be proceeding
at the current time. Further updates will be provided in due course.

 

Ends

 

For Further Information:

Engage with us by asking questions, watching video summaries, and seeing what
other shareholders have to say. Navigate to our Interactive Investor hub here:

https://fcm-l.investorhub.com/link/MP7o0P
(https://fcm-l.investorhub.com/link/MP7o0P)

For further information, please contact:

James Knowles, Executive Chair

Email: JamesK@Firstclassmetalsplc.com (mailto:JamesK@Firstclassmetalsplc.com)

Tel: 07488 362641

Marc J Sale, CEO

Email: MarcS@Firstclassmetalsplc.com (mailto:MarcS@Firstclassmetalsplc.com)

Tel: 07711 093532

Novum Securities Limited (Financial Adviser)

David Coffman / Dan Harris

Website: www.novumsecurities.com (http://www.novumsecurities.com)

Tel: (0)20 7399 9400

Axis Capital Markets (Broker)

Lewis Jones / Ben Tadd

Website: Axcap247.com (http://www.axcap247.com)

Tel: (0)203 026 0449

 

 

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