REG - Technology Minerals - Issue of Shares

Technology MineralsAnnouncement

15/01/2025 18:15

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RNS Number : 5020T  Technology Minerals PLC  15 January 2025

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.

 

15 January 2025

 

Technology Minerals Plc

 

("Technology Minerals" or the "Company")

 

Issue of Shares

 

Technology Minerals Plc (LSE: TM1), the first listed UK company to focus on
creating a sustainable circular economy for battery metals, announces that it
has raised gross proceeds of £250,000 (before expenses) via the issue to
Alexander Stanbury of 250,000,000 new ordinary shares of £0.001 each ("New
Ordinary Shares") at an issue price of £0.001 each, and a further 198,493,000
New Ordinary Shares at the same price for £198,493 for the settlement of
professional adviser fees and other obligations, for a total issue of
448,493,000 New Ordinary Shares.

 

The proceeds of the fundraising will be used for general working capital.

 

The Company is currently unable to issue and admit the entirety of the New
Issue Shares without either the publication of an FCA approved prospectus or
relying upon an exemption to the requirement to issue a prospectus.
Consequentially, this fundraise involves a subscription by Alexander Stanbury,
CEO and director of the Company for the New Ordinary Shares at the Issue
Price.

 

Following Admission, Alexander Stanbury has agreed to immediately sell the New
Ordinary Shares at the same Issue Price to certain investors in respect of the
£250,000 gross proceeds, and the balance for the settlement of professional
adviser fees and other obligations of the Company.

 

Total Voting Rights

Application will be made for the 448,493,000 New Ordinary Shares, which will
rank pari passu in all respects with the existing Ordinary Shares of the
Company, to be admitted to the Standard List segment of Official List and to
trading on the main market of the London Stock Exchange plc, which is expected
to occur on or around 8.00 a.m. on 20 January 2025 ("Admission"). Upon
Admission, the total number of issued shares and the total number of voting
rights in the Company will be 2,323,220,995.

 

The above figure of 2,323,220,995 should be used by shareholders in the
Company 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 share capital of the Company under the Financial Conduct
Authority's Disclosure Guidance and Transparency Rules.

 

 

 

Enquiries

 

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

 Alex Stanbury, Chief Executive Officer

 Oberon Investments Limited (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) .

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