REG - Metals One PLC - Employee Benefit Trust & Issue of Equity

Metals OneAnnouncement

05/01/2024 12:00

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RNS Number : 8227Y  Metals One PLC  05 January 2024

 

5 January 2024

 

Metals One Plc

("Metals One" or the "Company")

 

Establishment of Employee Benefit Trust

&

Issue of Equity

 

Metals One (https://metals-one.com/) (AIM: MET1), which is advancing battery
metal projects at brownfield sites in Finland and Norway, announces it has now
established the Metals One Employee Benefit Trust ("EBT") to implement the use
of an incentive plan as set out in the Company's admission document dated 25
July 2023 (available on the Company's website at
https://metals-one.com/investors/#company-documents
(https://metals-one.com/investors/#company-documents) ).

 

The Company intends to issue and allot 31,267,500 ordinary shares in the
Company to the EBT ("EBT Shares") at a price per share of £0.01, being the
Company's nominal share value, as advised in the admission document, which is
equivalent to 15% of the current issued ordinary share capital of the Company.
These ordinary shares shall be held in the EBT on trust pending transfer upon
the vesting (or exercise, as the case may be) of awards granted, and for such
other purposes relating to the ongoing recruitment, retention and
incentivisation of employees as may be recommended by the Company from time to
time (subject to the approval of the Remuneration Committee). Further to
disclosures in the Company's admission document, the beneficiaries of any
future distribution of EBT Shares to employees and directors will be notified
upon determination. Whilst this is yet to be formalised as noted above, the
Board expects the main three beneficiaries to be in line with the disclosure
in the admission document, namely Alastair Clayton (Chairman), Jonathan Owen
(Chief Executive Officer), and Daniel Maling (Chief Financial Officer).

 

Additionally, the Company announces the issue of 1,000,000 ordinary shares in
the Company at a price per share of £0.05 to a service provider in lieu of
fees for corporate services ("Fee Shares").

 

Application will be made to the London Stock Exchange for admission of the EBT
Shares and the Fee Shares to trading on AIM ("Admission"). It is expected that
Admission will become effective and dealings in the EBT Shares and Fee Shares
will commence at 8.00 a.m. on or around 12 January 2024. The EBT Shares and
Fee Shares will be issued fully paid and will rank pari passu in all
respects with the Company's existing Ordinary Shares. Following Admission, the
total number of Ordinary Shares in the capital of the Company in issue will be
240,717,500 with voting rights. 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's share capital pursuant to (i) the Company's Articles, (ii) the
Financial Conduct Authority's Disclosure Guidance and Transparency Rules
and/or (iii) the AIM Rules for Companies issued by the London Stock Exchange
plc as amended from time to time.

 

 Enquiries:

 Metals One Plc
 Jonathan Owen, Chief Executive Officer                     via Vigo Consulting

 Dan Maling, CFO                                            +44 (0)20 7390 0234

 Beaumont Cornish Limited (Nominated Adviser)               +44 (0)20 7628 3396

 James Biddle / Roland Cornish

 www.beaumontcornish.com (http://www.beaumontcornish.com)

 Shard Capital Partners LLP (Joint Broker)                  +44 (0)20 7186 9952

 Damon Heath / Erik Woolgar

 SI Capital Limited (Joint Broker)                          +44 (0)14 83413 500
 Nick Emerson

 Vigo Consulting (Investor Relations)                       +44 (0)20 7390 0234

 Ben Simons / Kendall Hill

 metalsone@vigoconsulting.com

 

Beaumont Cornish Limited ("Beaumont Cornish") is the Company's Nominated
Adviser and is authorised and regulated by the FCA. Beaumont Cornish's
responsibilities as the Company's Nominated Adviser, including a
responsibility to advise and guide the Company on its responsibilities under
the AIM Rules for Companies and AIM Rules for Nominated Advisers, are owed
solely to the London Stock Exchange. Beaumont Cornish is not acting for and
will not be responsible to any other persons for providing protections
afforded to customers of Beaumont Cornish nor for advising them in relation to
the proposed arrangements described in this announcement or any matter
referred to in it.

 

About Metals One

 

Metals One is developing brownfield battery metals projects in Finland (Black
Schist Project) and Norway (SRH Råna Project), with approximately £9 million
of exploration carry exposure through farm-in agreements. Metals One is aiming
to help meet the significant demand for battery metals by defining resources
on the doorstep of Europe's major electric vehicle OEMs and battery
manufacturers. Metals One's Black Schist Project in Finland, totalling 706
km(2) across three licence areas, has an Inferred Resource of 28.1 Mt
nickel-zinc-cobalt-copper and is located adjacent to Talvivaara, Europe's
largest operating nickel mine. Metals One's fully carried SRH Råna Project in
Norway covers 18.14 km² across three contiguous exploration licences, with
significant opportunity for brownfield exploration of the Råna intrusion, and
proven potential for massive sulphide nickel-cobalt-copper mineralisation.

 

Follow us on social media:

 

LinkedIn: https://www.linkedin.com/company/metals-one-plc/
(https://www.linkedin.com/company/metals-one-plc/)

Twitter: https://twitter.com/metals_one (https://twitter.com/metals_one)

 

Subscribe to our news alert service on the Investors page of our website at:
www.metals-one.com (http://www.metals-one.com)

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