REG-Pensana Plc: GBP 2 million Placement to major institutional shareholders

PensanaAnnouncement

30/05/2025 07:02

30 May 2025

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION

 

Pensana Plc

("Pensana" or the "Company")

 

GBP 2 million Placement to major institutional shareholders

 

Pensana (PRE.LSE) is pleased to announce that, following the recent US$ 25
million investment by major shareholder FSDEA into 84% owned subsidiary
Ozango, which has allowed main construction to commence at Longonjo mine site,
one of the Company's other major institutional shareholders M&G Investment
Management ("M&G") has participated in a  GBP 2 million equity raise at the
Pensana Plc level.

 

M&G has agreed to invest GBP 1 million alongside other strategic investors
("Strategic Investors") who will invest a further GBP 1 million into the
Company. Quark Financial is the Financial Advisor for the company with respect
to the Strategic Investors.
 Chairman, Paul Atherley commented:
"We are delighted that the Company continues to be supported by its major
institutional shareholders both at the asset level and at the corporate level.
The GBP 2 million funding will meet the Company's corporate funding
requirements for the next 18 months.

Our focus is on the developments on site where the team is mobilizing
contractors to commence construction of one of the world's largest and highest
grade undeveloped rare earth projects.

Longonjo is fully funded and benefits from one of the lowest capital costs and
a near surface deposit with a 4% TREO grade over the first five years of
production and has attracted considerable interest in its clean high grade
mixed rare earth carbonate product."

 

M&G has conditionally agreed to invest GBP 1 million in the Company by way of
a placement of 2,857,143 new ordinary shares of £0.001 each in the capital of
the Company ("Ordinary Shares") (the "M&G Placing Shares") at a price of 35
pence per share (the "Placing Price").

 

The Strategic Investors have, separately, agreed to invest GBP 1 million in
the Company by way of a staged placement of 2,857,143 Ordinary Shares
("Strategic Investors Placing Shares") at the Placing Price.

The issue of the M&G Placing Shares and Strategic Investors Placing Shares is
conditional, amongst other things, on the admission of the Placing Shares to
the Official List (Equity Shares - Transition) and to trading on the London
Stock Exchange's Main Market for listed securities ("Admission"). Applications
for Admission of the Placing Shares will commence shortly.

The Ordinary Shares issued to M&G and the Strategic Investors will be issued
credited as fully paid and will, on their Admission, rank pari passu in all
respects with the existing Ordinary Shares then in issue including the right
to receive all dividends or other distributions declared, made or paid after
the respective date of their Admission.

 

 

Following Admission of the M&G Placing Shares and the Strategic Investor
Placing Shares, M&G will be interested in a total of 36,314,081 Ordinary
Shares representing 12,18% of the enlarged share capital of the Company.
Total Voting Rights
Following Admission of the M&G Placing Shares and the Strategic Investor
Placing Shares, the Company's issued share capital will consist of 298,085,382
Ordinary Shares.
The information contained within this announcement is considered by the
Company to constitute inside information as stipulated under the Market Abuse
Regulations (EU) No.596/2014. Upon the publication of this announcement via a
Regulatory Information Service, this inside information will be considered to
be in the public domain. The person responsible for arranging for the release
of this announcement on behalf of the Company is Paul Atherley (Chairman).
-ENDS-

 

For further information, please contact:

Shareholder/analyst enquiries:

Pensana Plc

Paul Atherley, Chairman IR@pensana.co.uk

Tim George, Chief Executive Officer

Rob Kaplan, Chief Financial Officer



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