REG - Fulcrum Metals PLC - Total Voting Rights

Fulcrum MetalsAnnouncement

31/10/2024 17:00

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RNS Number : 4203K  Fulcrum Metals PLC  31 October 2024

Fulcrum Metals plc / EPIC: FMET / Market: AIM / Sector: Mining

 

31 October 2024

 

Fulcrum Metals plc

("Fulcrum" or the "Company" or the "Group")

 

Total Voting Rights

and

Update to IPO Concert Party

 

Fulcrum Metals plc (LON: FMET), a company focused on mineral exploration and
development in Canada, announces that the Company's issued ordinary share
capital as at the date of this announcement comprises 61,585,943 ordinary
shares of 1 pence each, with one voting right each. The Company does not hold
any ordinary shares in treasury. Therefore, the total number of ordinary
shares and voting rights in the Company is 61,585,943.

 

The above figure may be used by shareholders in the Company 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 share capital
of the Company under the FCA's Disclosure Guidance and Transparency Rules.

 

Update to IPO Concert Party

 

The Company also provides an update to the shareholder concert party
established at IPO.

 

Under the City Code on Takeovers and Mergers (the "Code") published by the
Panel on Takeovers and Mergers (the "Panel"), a concert party arises where
persons who, pursuant to an agreement or understanding (whether formal or
informal), co-operate to obtain or consolidate control (as defined in the
Code) of a company or to frustrate the successful outcome of an offer for a
company.

 

Certain persons will be presumed, as set out in the Definitions in the Code,
to be persons acting in concert with other persons in the same category unless
the contrary is established, including shareholders in a private company who,
following the re-registration of that company as a public company in
connection with an initial public offering or otherwise, become shareholders
in a company to which the Code applies.

 

At the time of its IPO on 14 February 2023, the Company stated in its
admission document, that it had agreed with the Panel that a concert party
(the "IPO Concert Party") existed in the context of the Company, including
founders and certain shareholders in the Company before IPO.  As at 30
October 2024, the IPO Concert Party held 26.91% of the shares in Fulcrum,
meaning the IPO Concert Party has now been diluted down below 30% of the
issued share capital of Fulcrum.

 

The members of the IPO Concert Party, including their beneficial interests in
ordinary shares in the Company, are as follows:

 

 Shareholder         Number of Shares  % of Issued Share Capital  Number of Warrants Outstanding  Convertible Loan Notes Outstanding (£)
 Ryan Mee            7,673,909         12.46%                     125,000                         75,000
 Aidan O'Hara        7,294,739         11.84%                     125,000                         75,000
 Ed Slowey           820,441           1.33%                      -                               -
 Mitchell Smith      468,823           0.76%                      -                               -
 OnGold Invest Corp  312,500           0.51%                      -                               -
 Total               16,570,412        26.91%                     250,000                         150,000

 

The individuals within the IPO Concert Party can now each acquire further
shares in the Company without triggering an obligation under Rule 9 of the
Code to make an offer for the whole of its issued share capital, provided such
acquisitions do not cause the aggregate interest of the IPO Concert Party to
reach or exceed 30 per cent. of the Company's issued ordinary shares that
carry voting rights.

 

 

For further information please visit https://fulcrummetals.com/
(https://fulcrummetals.com/) or contact:

 Fulcrum Metals PLC
 Ryan Mee (Chief Executive Officer)           Via St Brides Partners Limited

 Allenby Capital Limited (Nominated adviser)
 Nick Athanas / George Payne                  Tel: +44 (0) 203 328 5656

 Clear Capital Markets Limited (Broker)
 Bob Roberts                                  Tel: +44 (0) 203 869 6081

 St Brides Partners Ltd (Financial PR)
 Ana Ribeiro / Paul Dulieu                    Tel: +44 (0) 20 7236 1177

 

 

Notes to Editors

 

FULCRUM METALS - BACKGROUND

 

Fulcrum Metals PLC (LON: FMET) is an AIM quoted exploration and development
company which finances and manages exploration projects focused on Canada,
widely recognised as a top mining jurisdiction. Fulcrum's ambition is to
create an environmentally friendly and sustainable tailings and mine waste
business, driving mining change through combining low discovery risk assets
and jurisdictions with transformative technology capable of near-term cash
flow whilst capitalising on a portfolio of highly prospective exploration
assets.

 

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