REG - Technology Minerals - Business update & lifting of suspension update

Technology MineralsAnnouncement

05/03/2026 07:00

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RNS Number : 3992V  Technology Minerals PLC  05 March 2026

The information contained within this announcement is deemed to constitute
inside information as stipulated under the retained EU law version of the
Market Abuse Regulation (EU) No. 596/2014 (the "UK MAR") which is part of UK
law by virtue of the European Union (Withdrawal) Act 2018. The information is
disclosed in accordance with the Company's obligations under Article 17 of the
UK MAR. Upon the publication of this announcement, this inside information is
now considered to be in the public domain.

 

5 March 2026

 

Technology Minerals Plc

 

("Technology Minerals" or the "Company")

 

Business updates and update on lifting of share suspension

 

Technology Minerals Plc (LSE: TM1), the first UK listed company focused on
creating resource and manufacturing resilience through a sustainable circular
economy for battery metals and other critical resources, is pleased to provide
the following business updates.

Revised Loan Agreement with Recyclus Group Ltd

Technology Minerals has entered into a binding letter of intent with its
48.35% owned battery recycling business, Recyclus Group Ltd ("Recyclus"),
which constitutes a related party transaction and which sets out the principal
terms of a new loan agreement ("the New Agreement") which will be entered
into, replacing the previous loan agreement between the parties, dated
February 2022.

As at 31 December 2025, the outstanding loan balance due from Recyclus to the
Company, including accumulated interest and the addition of management fees
for services carried out by the Company, was £9,643,272.01 (the "Loan").
Pursuant to the New Agreement, the Loan will have a seven (7) year term and
will be secured by a second ranking charge over the assets of Recyclus and its
subsidiaries.

The loan will accrue an increasing rate of interest during the term of the
Loan. The interest rates are: 2.5% in the first year; the Bank of England base
rate in year two and three; Bank of England base rate +1% in year four; Bank
of England base rate +2% in Year five; and Bank of England base rate +3% the
following years. Recyclus will receive a £0.5 million early repayment
discount should it repay the outstanding Loan balance within three (3) years
from the date of the New Agreement.

Interest on the Loan will accrue at the aforementioned rates from the date of
the New Agreement, to be paid on or before the last day of each month. No
repayment of any interest thereon shall be due until the first anniversary of
the New Agreement, and no repayment of the principal shall be due until the
second anniversary of the New Agreement. In the event of a default that is not
remedied within 45 days, additional default interest shall apply.

Under the terms of the New Agreement, the Company has the right to appoint and
maintain one director to the Recyclus Board. Nick Kounoupias, Non-Executive
Director of Technology Minerals, is the Company's nomination to join the
Recyclus Board as the Company's representative, such appointment to be subject
to approval of the Recyclus Board. If the number of directors at Recyclus
increases, Technology Minerals has the right to appoint further directors
pro-rata.

 

Update on Annual Report and Accounts

Further to the announcement on 15 January 2026, the Company is in the advanced
stages of completing its audit for the year ended 30 June 2025 and the Board
expects its Annual Report and Accounts to be published within the next two
weeks.  Following the publication of its Annual Report and Accounts the
temporary suspension of the listing of the Company's ordinary shares on the
Official List will be lifted and the Company's ordinary shares will be
restored to trading on the Main Market of the London Stock Exchange.

The Board looks forward to updating the market as to this share restoration in
the near future.

 

Update on previous equity fundraise

Further to the Company's announcement on 15 January 2026, in which it
announced the receipt of irrevocable commitments to raise £350,000 through
the issue of 350,000,000 new Ordinary shares at a price of 0.1 pence each, and
following the admission of the shares on 3 March 2026, the issuance of the new
Ordinary shares completed on 4 March 2026.

As previously stated on 15 January 2026, the total number of issued shares and
the total number of voting rights in the Company is 3,144,394,215.

The above figure of 3,144,394,215 should be used by shareholders in the
Company as the denominator for the calculations by which they will determine
whether they are required to notify their interest in, or a change to their
interest in, the share capital of the Company under the Financial Conduct
Authority's Disclosure Guidance and Transparency Rules.

 

Alex Stanbury, CEO of Technology Minerals, said: "We are pleased to be able
to revise the terms between Technology Minerals and Recyclus on terms which
the board considers are fair and reasonable, but importantly, on an arm's
length basis. The new terms continue to enable Technology Minerals to support
Recyclus in the ongoing development and progression of its industry-leading
solution to addressing the challenges around waste battery metals resulting
from the global drive towards electrification, enabling more rapid scaling of
production. We know that the board of Recyclus is working on exciting
developments and we hope to update investors soon. We believe Technology
Minerals, with its portfolio of assets, is well positioned to be a pioneering
London listed enterprise focused on national resilience. In addition, we are
in the final stages of completing the audit process for the Company's Annual
Report and Accounts and expect to publish the accounts in short order to lift
the temporary share trading suspension."

Enquiries

 Technology Minerals Plc
 Robin Brundle, Executive Chairman          c/o +44 (0)20 4582 3500

 Alex Stanbury, Chief Executive Officer

 Fortified Securities (Lead Broker)
 Guy Wheatley                               +44 (0)20 3411 7773

 Oberon Investments Limited (Joint Broker)
 Nick Lovering, Adam Pollock                +44 (0)20 3179 0500

 Gracechurch Group (Financial PR)
 Harry Chathli, Alexis Gore, Rebecca Scott  +44 (0)20 4582 3500

 

Technology Minerals Plc

Technology Minerals is developing the UK's first listed, sustainable circular
economy for battery metals, using cutting-edge technology to recycle, recover,
and re-use battery technologies for a renewable energy future. Technology
Minerals is focused on raw material exploration required for Li-ion batteries,
whilst solving the ecological issue of spent Li-ion batteries, by recycling
them for re-use by battery manufacturers. Further information on Technology
Minerals is available at  www.technologyminerals.co.uk
(http://www.technologyminerals.co.uk/) .

Recyclus Group Ltd

Since July 2023, Recyclus Group has operated a national, industrial-scale
lithium-ion battery recycling service that supports the UK's transition to
carbon neutrality. The Group's commitment to cradle-to-cradle battery
recycling reduces reliance on the extraction of virgin materials, promotes a
circular economy for these metals within the UK, supports the advancement of
next-generation recycling technologies, and aligns with the UK's resilience
and critical minerals strategy.

With strategic backing from Technology Minerals, Recyclus plays a central role
in lithium-ion battery recycling and contributes significantly to the circular
economy for battery metals.

Further information on Recyclus Group is available at www.recyclusgroup.com
(http://www.recyclusgroup.com/)

 

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