REG - Future Metals NL - Results of Non-Renounceable Entitlement Offer

Future Metals NLAnnouncement

20/06/2025 08:00

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RNS Number : 7581N  Future Metals NL  20 June 2025

20 June 2025

Future Metals NL

Results of Non-Renounceable Entitlement Offer

 

On 7 May 2025, Future Metals NL (Future Metals or the Company, ASX | AIM: FME)
announced the launch of a 1-for-3 pro-rata non-renounceable entitlement offer
to eligible shareholders at a price of A$0.011 per New Share (or 0.53 pence
per Depository Interest), to raise up to approximately A$2.64 million (~£1.28
million) (before costs) (Entitlement Offer).

The Entitlement Offer was fully underwritten by CPS Capital Group Pty Ltd
(CPS) and Zeta Resources Limited (Zeta) (together, the Underwriters). The
Entitlement Offer closed at 5:00pm (AWST) / 10:00 a.m. (BST) on 13 June 2025.
The Company is pleased to provide the results of the Entitlement Offer as
follows:

                                               New Shares   Amount raised (before costs)
 Valid acceptances from eligible shareholders  190,136,257  A$2,091,499
 Placement of shortfall to Underwriters        49,463,949   A$544,103
 Total                                         239,600,206  A$2,635,602

 

Of the 49,463,949 shortfall Shares, Zeta will take up 23,000,000 Shares with
the balance of 26,463,949 Shares to be taken up by CPS in accordance with the
Underwriting Agreement (refer to section 1.16 of the Entitlement Offer Booklet
announced on 15 May 2025). As a result of the Entitlement Offer, Zeta will
hold an interest of 94,800,000 Shares in the Company, representing 9.9% of the
Company's enlarged share capital.

Admission and total voting rights

Application has been made to the London Stock Exchange plc for the admission
to trading on AIM of the 239,600,206 New Shares, which is expected to occur
and dealings commence at 8.00 a.m. (BST) on or around 23 June 2025
(Admission). On issue, the New Shares shall rank pari passu in all respects
with the existing ordinary shares.

The number of Shares in issue, and the total voting rights in the Company, on
Admission, will be 958,400,824. This figure may be used by shareholders as the
denominator for the calculations by which they determine whether they are
required to notify their interest in, or a change of their interest in, the
Company under the provisions of the Company's constitution.

Unless specified otherwise, defined terms used in this announcement have the
same meanings as those given in the Company's announcement of 7 May 2025.

This announcement has been approved for release by the Board of Future Metals
NL.

For further information, please contact:

 Future Metals NL           Strand Hanson Limited (Nominated Adviser and UK broker)
 Patrick Walta              James Bellman / Rob Patrick
 +61 8 9480 0414            +44 (0) 20 7409 3494
 info@future-metals.com.au

 

 

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