REG - Metals One PLC - Notice of GM, Capital Reorg. & Consolidation

Metals OneAnnouncement

06/03/2025 17:45

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RNS Number : 7200Z  Metals One PLC  06 March 2025

6 March 2025

 

Metals One Plc

("Metals One" or the "Company")

 

Notice of General Meeting

&

Notification of Capital Reorganisation and Consolidation

 

Metals One (AIM: MET1), which is advancing strategic minerals projects in
Finland and Norway, has posted a notice of General Meeting in connection with
the matters announced on 31 January 2025 (the "Notice"). The General Meeting
will be held on 25 March 2025 at 11.00 a.m. at the offices of Hill Dickinson
LLP, 8th Floor, The Broadgate Tower, 20 Primrose Street, London, EC2A 2EW. The
Notice is available to view on the Company's website at:
https://metals-one.com/investors/ (https://metals-one.com/investors/) .

 

The Notice includes a resolution for a Capital Reorganisation. Following the
Equity Fundraise, the Company would have a high number of issued shares and
therefore the purpose of the Capital Reorganisation is to reduce the number of
issued shares to a more manageable amount.

 

Capital Reorganisation and Consolidation

 

The Company currently has 361,467,500 Ordinary Shares of £0.001 each in issue
("Existing Ordinary Shares"). The proposal is that each Existing Ordinary
Share is to be subdivided into 1 New Ordinary Share of £0.0001 and 9 B
Deferred Shares of £0.0001. The New £0.0001 Ordinary Shares will be
consolidated on a 1 for 10 basis into 1 New Ordinary Share of £0.001 and the
B Deferred Shares will be consolidated on a 1 for 10 basis into 325,320,750 B
Deferred Shares.

 

The B 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 B Deferred Shares will not be admitted to
trading on any exchange. The rights of the New Ordinary Shares and the B
Deferred Shares will be set out in the new articles of association proposed to
be adopted by the Company.

 

Share Certificates in respect of the New Ordinary Shares will be issued
following the Capital Reorganisation or, in the case of uncertificated
holders, Euroclear UK and International Limited will be instructed to credit
the CREST participant's account with the New Ordinary Shares.  The ISIN for
the New Ordinary Shares will be GB00BSY1D385.

 

Expected Timetable of Events

 

 Event                                                                     Expected time and date

 Time and Date of General Meeting                                          11:00 a.m. on 25 March 2025
 Record Date for Capital Reorganisation                                    6.00pm on 25 March 2025
 Latest time and date for dealing in Existing Ordinary Shares              6.00pm on 25 March 2025
 Expected date of Admission of New Ordinary Shares to AIM                  26 March 2025
 Expected date CREST accounts are to be credited with New Ordinary Shares  26 March 2025
 Despatch of definitive certificate for New Ordinary Shares (in            Week commencing 7 April 2025

 certificated form)

 

Share Information

 

 Number of Existing Ordinary Shares in issue at the Last Practicable Date     361,467,500
 Total expected number of New Ordinary Shares in issue following the Capital  36,146,750
 Reorganisation

 Total expected number of B Deferred Shares in issue following the Capital    325,320,750
 Reorganisation

 

Application will be made to the London Stock Exchange for admission of the
36,146,750 New Ordinary Shares to trading on AIM ("Admission"). It is expected
that Admission will become effective and dealings in the New Ordinary Shares
will commence at 8.00 a.m. on or around 26 March 2025.

 

Following Admission, the total number of Ordinary Shares in the capital of the
Company in issue will be 36,146,750 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                                                       via Vigo Consulting

 Jonathan Owen, Chief Executive Officer                               +44 (0)20 7390 0234

 Alastair Clayton, Chairman

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

 James Biddle / Roland Cornish

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

 SI Capital Limited (Joint Broker)                                    +44 (0)14 8341 3500

 Nick Emerson

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

 Jonathan Critchley

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

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

 Ben Simons / Kendall Hill / Anna Stacey

 metalsone@vigoconsulting.com (mailto:metalsone@vigoconsulting.com)

 

About Metals One

 

Metals One is developing strategic metals projects in Finland (Black Schist
Project) and Norway (Råna Project). Metals One is aiming to help meet the
significant demand for strategic 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 a total Inferred Resource of 57.1 Mt
nickel-copper-cobalt-zinc and is located adjacent to one of Europe's largest
strategic minerals producers, Terrafame. Metals One's fully carried 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: 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:
https://metals-one.com (https://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.

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