REG - Metals Exploration - Bridging Term Loan Facility Update

Metals ExplorationAnnouncement

05/02/2025 13:45

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RNS Number : 0541W  Metals Exploration PLC  05 February 2025

5 February 2025

METALS EXPLORATION PLC

Bridging Term Loan Facility Update

Metals Exploration plc (AIM: MTL) ("Metals Exploration" or the "Company")
announces that, further to its announcement of 2 December 2024, it has agreed
to extend the term of its £5.5 million unsecured bridging term loan facility
with Drachs Investments No 3 Limited ("Drachs") (the "Facility").

The terms of the Facility remain unchanged, save for the maturity date which
has been extended to 31 March 2025.

Related Party Transaction

Drachs, which holds approximately 12.4% of the Company's existing issued share
capital, is a substantial shareholder, and accordingly is a related party
under the AIM Rules. The extension of the Facility is therefore deemed a
related party transaction pursuant to the AIM Rules. The independent Directors
of the Company, being Nick von Schirnding, Darren Bowden, Steven Smith,
Timothy Livesey, Andrew Chubb and David Cather, having consulted with Strand
Hanson Limited, the Company's Nominated Adviser, consider the terms of the
related party transaction to be fair and reasonable insofar as shareholders of
the Company are concerned.

For further information, please contact or visit:

 Metals Exploration PLC
 Via BlytheRay                            +44 (0) 207 138 3204

 Nominated & Financial Adviser:           STRAND HANSON LIMITED
 James Spinney, James Dance, Rob Patrick  +44 (0) 207 409 3494

 Broker:                                  HANNAM & PARTNERS
 Matt Hasson, Franck Nganou               +44 (0) 207 907 8500

 Public Relations:                        BLYTHERAY
 Megan Ray, Said Izagaren                 +44 (0) 207 138 3204

 

Web:                www.metalsexploration.com
(http://www.metalsexploration.com)

X:                     @MTLexploration
(https://twitter.com/MTLexploration)

LinkedIn:           Metals Exploration
(https://www.linkedin.com/company/metals-exploration-plc)

 

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