REG - First Tin PLC - Result of Placing and Notice of General Meeting

First TinAnnouncement

10/07/2024 17:15

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RNS Number : 9308V  First Tin PLC  10 July 2024

 

10 July 2024

 

First Tin PLC

("First Tin" or "the Company")

Result of Placing and

Notice of General Meeting and Posting of Circular

First Tin PLC, a tin development company with advanced, low capex projects in
Australia and Germany, is pleased to announce that, further to the
announcement made at 4.30 p.m on 10 July 2024 (the "Launch Announcement"), the
Company has conditionally raised c.£2.1 million (before expenses) pursuant to
a placing of 53,000,000 new ordinary shares of £0.001 each  in the capital
of the Company ("Ordinary Shares") (the "Placing Shares") at a price of 4
pence per Ordinary Share (the "Issue Price").

The Placing was conducted by way of an accelerated book build process.

Arlington Group Asset Management ("Arlington") acted as Financial Advisor and
Joint Broker in connection with the Placing alongside W H Ireland Limited ("WH
Ireland") who acted as Joint Broker and Bookrunner.

The net proceeds of the Placing (the "Fundraise") will be used to deliver the
following workstreams, as well as for general working capital purposes:

·      completion and submission of the ongoing Environmental Impact
Statement ("EIS") and the final permitting processes at Taronga, Australia

·      to progress a number of sampling programmes at Taronga; and

·      progression of permitting at Tellerhäuser, Germany

Notice of General Meeting and Posting of Circular

The Fundraise is conditional, amongst other things, on the approval by
Shareholders of resolutions to be proposed at a general meeting of the Company
which is to be convened on 29 July 2024 (the "General Meeting") to approve the
issue of the Placing Shares on a non pre-emptive basis (the "Resolutions"),
the Admission of the Placing Shares and the Placing Agreement not having been
terminated. A circular (the "Circular") containing details of the Fundraise
and a notice of the General Meeting in respect of the Fundraise, is expected
to be posted to Shareholders on 12 July 2024.  The Circular will also be
available on the Company's website www.firsttin.com (http://www.firsttin.com)
.

The General Meeting will be held at the offices of First Tin PLC at First
Floor, 47-48 Piccadilly, London W1J 0DT at 9:00 a.m. (BST) on 29 July 2024.

Subject (amongst other things) to all Resolutions being passed at the General
Meeting, it is expected that Admission will become effective and dealings in
the New Ordinary Shares will commence on the Main Market at 8 a.m. on 31 July
2024.

Capitalised terms used but not otherwise defined in this announcement shall
have the meanings ascribed to such terms in the Company's announcement made on
10 July 2024, unless the context requires otherwise.

 

Enquiries:

 

 First Tin                                                                     Via SEC Newgate below
 Bill Scotting - Chief Executive Officer
 Arlington Group Asset Management Limited (Financial Advisor and Joint Broker
 and Bookrunner)
 Simon Catt                                                                    020 7389 5016
 WH Ireland Limited (Joint Broker and Bookrunner)
 Harry Ansell/Dan Bristowe/Katy Mitchell                                       020 7220 1670
 SEC Newgate (Financial Communications)
 Elisabeth Cowell / Molly Gretton                                              07900 248 213

 

Notes to Editors

First Tin PLC is an ethical, reliable, and sustainable tin production company
led by a team of renowned tin specialists. The Company is focused on becoming
a tin supplier in conflict-free, low political risk jurisdictions through the
rapid development of high value, low capex tin assets in Germany and
Australia, which have been de-risked significantly, with extensive work
undertaken to date.

Tin is a critical metal, vital in any plan to decarbonise and electrify the
world, yet Europe has very little supply. Rising demand, together with
shortages, is expected to lead tin to experience sustained deficit markets for
the foreseeable future.

First Tin's goal is to use best-in-class environmental standards to bring two
tin mines into production in three years, providing provenance of supply to
support the current global clean energy and technological revolutions.

 

 

 

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