REG - Ironveld PLC - Results of Accelerated Bookbuild

IronveldAnnouncement

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RNS Number : 9370Y  Ironveld PLC  31 March 2026

THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED IN IT, IS RESTRICTED AND IS
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR
INDIRECTLY, IN, INTO OR FROM THE UNITED STATES, AUSTRALIA, CANADA, JAPAN,
SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR
DISTRIBUTION WOULD BE UNLAWFUL. PLEASE SEE THE IMPORTANT NOTICE IN THIS
ANNOUNCEMENT.

 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF THE MARKET
ABUSE REGULATION (EU) 596 / 2014 WHICH FORMS PART OF UK LAW BY VIRTUE OF THE
EUROPEAN UNION (WITHDRAWAL) ACT 2018 (AS AMENDED) ("MAR").

 

FOR IMMEDIATE RELEASE

31 March 2026

Ironveld plc

("Ironveld" or the "Company")

Results of Accelerated Bookbuild

Ironveld plc, the mining development company focused on producing high-value
strategic metals, is pleased to announce the successful completion of the
Accelerated Bookbuild (the "ABB") announced earlier today.

The ABB was significantly oversubscribed and, as a result and after
consultation between the Bookrunner, Turner Pope Investments (TPI) Ltd
("Turner Pope") and the Company, the size of the fundraise has been increased
such that a total of 4,444,444,444 new Ordinary Shares of 0.01p each (the
"Placing Shares") have been placed with existing institutional and other
investors, including Premier Miton, at an issue price of 0.0225 pence per
share (the "Issue Price"), raising gross proceeds of approximately £1 million
(the "Placing"). In addition, the Company has raised gross proceeds of
approximately £100,000 through a direct subscription for 444,444,444 new
Ordinary Shares of 0.01p each (the "Subscription Shares") by Tracarta Ltd, a
company in which the Company's Chairman, Dr John Wardle, has a beneficial
interest (the "Subscription"). The Placing and Subscription have therefore
raised, in aggregate, £1.1 million for the Company, before expenses.

The net proceeds of the Fundraise will be used to support business development
and working capital, ensuring the Company maintains momentum across its
operational and commercial workstreams as cash flows from established
operations grow.

Together, the Placing Shares and the Subscription Shares in aggregate
represent approximately 23.6 per cent. of the enlarged issued ordinary share
capital of the Company and the Issue Price represents a discount of
approximately 48.3 per cent. to the price at which the Company's shares were
suspended on 2 January 2026 The Placing and Subscription are conditional,
inter alia, on Admission occurring and the Placing Agreement not being
terminated prior to Admission.

 

Admission and Total Voting Rights

Application will be made to the London Stock Exchange for the Placing Shares
and the Subscription Shares (together, the "Fundraising Shares") to be
admitted to trading on AIM ("Admission"). It is expected that Admission will
take place, and that trading will become effective and dealings in the
Fundraising Shares will commence on AIM, at 8.00 a.m. on 8 April 2026.

The Fundraising Shares will, when issued, be credited as fully paid and will
rank pari passu in all respects with the existing Ordinary Shares of the
Company.

Following Admission, the Company's issued share capital will consist of
20,719,867,125 Ordinary Shares. This figure may be used by shareholders 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
Company under the FCA's Disclosure Guidance and Transparency Rules.

Capitalised terms used in this announcement but not otherwise defined have the
meanings given to them in the Launch Announcement, unless the context provides
otherwise.

Broker Warrants

In connection with the Fundraise, Turner Pope has been issued with 293,333,333
warrants, equivalent to 6 per cent. of the aggregate number of new Ordinary
Shares issued pursuant to the Fundraise, entitling the holder to subscribe for
one new Ordinary Share at the Issue Price at any time within five years from
the date of Admission.

Kristoffer Andersson, CEO of Ironveld, commented:

"Principally supported by our existing shareholders, this successful fundraise
gives us the platform to accelerate delivery across our operations and
commercial activities.  We are grateful for their continued support, which
reflects confidence in the progress we have made over the past year in
strengthening the business and advancing our strategy.

"With this funding now in place, our focus is firmly on the future. We are
resuming operations with clear priorities and strengthened working capital,
positioning the Company to build momentum and move towards sustainable revenue
generation. We are now executing against our strategy with discipline, with
the aim of delivering long-term value for shareholders."

 

For further information, please contact:

 Ironveld plc                                          c/o BlytheRay

 Kristoffer Andersson, Chief Executive Officer         +44 20 7138 3204
 Cavendish Capital Markets Limited (Nomad and Broker)  +44 20 7220 0500

 Derrick Lee
 Turner Pope Investments (TPI) Ltd (Joint Broker)

 Andrew Thacker / Guy McDougall                        +44 20 3657 0050

 BlytheRay                                             +44 20 7138 3204

 Megan Ray / Said Izagaren / James Mulligan

 

Notes to Editors:

Ironveld is a mining development company focused on producing high-value
strategic metals. The Company's primary asset is a vanadium, titanium and iron
ore project located on the northern limb of the Bushveld Complex in Limpopo
Province, South Africa. Ironveld's shares are admitted to trading on AIM, a
market operated by the London Stock Exchange.

 

Notification and public disclosure of transaction by person discharging
managerial responsibilities

 

 1   Details of the person discharging managerial responsibilities/person closely
     associated
 a.  Name                                                                                     1)   John Wardle
 2   Reason for notification
 a.  Position/Status                                                                          1)   Director
 b.  Initial notification/ Amendment                                                          Initial notification
 3   Details of the issuer, emission allowance market participant, auction
     platform, auctioneer or auction monitor
 a.  Name                                                                                     Ironveld Plc
 b.  LEI                                                                                      2138004LU52LQBNXG604
 4   Details of the transaction(s): section to be repeated for (i) each type of
     instrument; (ii) each type of transaction; (iii) each date; and (iv) each
     place where transactions have been conducted
 a.  Description of the financial instrument, type of instrument                              Ordinary shares of £0.01

Identification Code

                                                                                              ISIN Code: GB0030426455
 b.  Nature of the transaction                                                                Subscription - Issue of new ordinary shares
 c.  Price(s) and volume(s)                                                                   Price                Volume
                                                                                              1)    £0.000225      444,444,444
 d.  Aggregated information                                                                   N/a - single transaction

     - Aggregated Volume

     - Price
 e.  Date of the transaction                                                                  31 March 2026
 f.  Place of the transaction                                                                 UK

d.

Aggregated information

 

- Aggregated Volume

 

- Price

N/a - single transaction

e.

Date of the transaction

31 March 2026

f.

Place of the transaction

UK

 

 

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