REG - Metals One PLC - Notice of AGM & Capital Reorganisation

Metals OneAnnouncement

01/07/2024 15:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20240701:nRSA6516Ua&default-theme=true

RNS Number : 6516U  Metals One PLC  01 July 2024

 

1 July 2024

 

Metals One Plc

("Metals One" or the "Company")

 

Notice of Annual General Meeting

&

Notification of Capital Reorganisation

 

Metals One (https://metals-one.com/)  (AIM: MET1), which is advancing
strategic metals projects in Finland and Norway, has posted a notice of Annual
General Meeting ("AGM") to be convened on 22 July 2024 at 11.00 a.m. (the
"Notice"). The Notice is available to view on the Company's website
at www.metals-one.com (http://www.metals-one.com/) .

 

In addition to the customary resolutions to be proposed at the AGM, the Notice
includes a resolution for a Capital Reorganisation. The purpose of the Capital
Reorganisation is to reduce the nominal value of the Company's existing
Ordinary Shares.

 

Capital Reorganisation

 

The Company currently has 330,217,500 Ordinary Shares of £0.01 each in issue
("Existing Ordinary Shares"). The proposal is that each Existing Ordinary
Share is to be subdivided into 1 New Ordinary Share of £0.001 and 1 Deferred
Share of £0.009. The Deferred Shares will have no right to vote or
participate in the capital of the Company and the Company will not issue any
certificates or credit CREST accounts in respect of them. The Deferred Shares
will not be admitted to trading on any exchange. The rights of the New
Ordinary Shares and the Deferred Shares will be set out in the new articles of
association proposed to be adopted by the Company. Existing share certificates
will remain valid instruments of title - no replacement share certificates
will be issued following the Capital Reorganisation. This Capital
Reorganisation will not affect the trading price of the Company's Ordinary
Shares nor the number of Ordinary Shares in issue.

 

Background to the Capital Reorganisation

 

The current nominal value of the Company's Existing Ordinary Shares is £0.01.
In order to give the Company greater flexibility, as shares cannot be issued
at a price which is lower than their nominal value, the Board proposes to
carry out a subdivision and reclassification of the existing Ordinary Shares.

 

Expected timetable of events

 

 Event                                                                        Expected time and date
 Time and Date of Annual General Meeting                                      11.00 a.m. on 22 July 2024
 Record date for Capital Reorganisation                                       6.00 p.m. on 22 July 2024
 Latest time and date for dealing in Existing Ordinary Shares                 6.00 p.m. on 22 July 2024
 Expected date of admission of New Ordinary Shares to AIM                      23 July 2024
 Expected date CREST accounts are to be credited with New Ordinary Shares in             23 July 2024
 uncertificated form

Share information

 Number of Existing Ordinary Shares in issue at the Last Practicable Date     330,217,500
 Total expected number of New Ordinary Shares in issue following the Capital  330,217,500
 Reorganisation
 Total expected number of Deferred Shares in issue following the Capital      330,217,500
 Reorganisation

 

Enquiries:

 

 Metals One Plc                                             via Vigo Consulting

 Jonathan Owen, Chief Executive Officer                     +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 8341 3500

 Nick Emerson

 Capital Plus Partners Limited (Joint Broker)               +44 (0)20 3821 6169

 Keith Swann

 https://www.capplus.co.uk/ (https://www.capplus.co.uk/)

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

 Ben Simons / Kendall Hill

 metalsone@vigoconsulting.com

 

About Metals One

 

Metals One is developing strategic metals projects in Finland (Black Schist
Project) and Norway (SRH Råna Project), with approximately £9 million of
exploration carry exposure through a farm-in agreement. Metals One is aiming
to help meet the significant demand for critical minerals 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-copper-cobalt-zinc and is located adjacent to one of Europe's largest
nickel mines operated by Terrafame. Metals One's fully carried SRH Råna
Project in Norway covers 18.14 km² across three contiguous exploration
licences, with significant opportunity for 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/)

X (Twitter): https://twitter.com/metals_one_PLC
(https://twitter.com/metals_one_PLC)

 

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

 

Market Abuse Regulation (MAR) Disclosure

 

The information set out below is provided in accordance with the requirements
of Article 19(3) of the Market Abuse Regulations (EU) No. 596/2014 which forms
part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018
('MAR').

 

Nominated Adviser

 

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.

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  NOAQKDBQNBKDQOK