REG - Technology Minerals - Restoration of Trading and Operational Update

Technology MineralsAnnouncement

Today 08:00

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20260413:nRSM1604Aa&default-theme=true

RNS Number : 1604A  Technology Minerals PLC  13 April 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.

13 April 2026

 

Technology Minerals Plc

("Technology Minerals", the "Group" or the "Company")

 

Restoration of Trading and Operational Update

 

Technology Minerals Plc (LSE: TM1), the first UK listed company focused on
creating national resource and manufacturing resilience through a sustainable
circular economy for battery metals and other critical resources, is pleased
to announce that, following the publication of its annual report and accounts
for the year ended 30 June 2025 (the "Accounts"), the Financial Conduct
Authority ("FCA") has lifted the temporary suspension of the listing of the
Company's ordinary shares on the Official List of the FCA. This suspension was
introduced on 3 November 2025 pending the publication of the Accounts. The
Company's ordinary shares have now been restored to trading on the Main Market
of the London Stock Exchange.

Capital and Anticipated Placing

As announced on 15 January 2026, the Company completed a £350,000 fundraise
through the issue of 350,000,000 new Ordinary shares at a price of 0.1 pence
each. £150,000 of this was subscribed by incoming non-executive directors
Nick Bridle and Mick Cataldo, demonstrating their personal financial
commitment to the Company's prospects.

The Company is working with Fortified Securities and Oberon Capital to
progress the Anticipated Placing as previously announced on 15 January 2026.
The Anticipated Placing is intended to provide funds to satisfy the settlement
sums due in cash to Jonathan Swann and Atlas Special Opportunities II, LLC,
plus providing at least 12 months working capital for the Company. A further
announcement will be made in due course regarding the timetable and terms of
the Anticipated Placing.

Company Actions

The Company has taken a number of steps to strengthen its position ahead of
the Anticipated Placing. Conditional settlements have been agreed with the
Company's major convertible loan note holders, Jonathan Swann and Atlas
Special Opportunities II, LLC, on terms previously announced, which will
result in a material positive adjustment to the Company's balance sheet upon
completion of the Anticipated Placing. The Company is in active discussions
with its creditors and is making good progress towards further settlements.
Directors have agreed to defer fees owed to them, with a portion to be settled
in new Ordinary Shares and the balance payable in cash following completion of
the Anticipated Placing. The board has also taken steps to reduce the
Company's operational cost base.

Recyclus Group

Recyclus Group, the Company's 48.35% owned subsidiary and the UK's first
industrial-scale lithium-ion battery recycler, continues to make strong
commercial and operational progress. Recyclus achieved 179% year-on-year
revenue growth in 2025 and in March 2026 achieved its highest-ever monthly
battery intake of over 140,000kg, reflecting accelerating market demand.
Recyclus is a participant in Project COMET, the £8.1m government-backed
consortium with Jaguar Land Rover, Mint Innovation and WMG at the University
of Warwick.

The Company's inter-company loan to Recyclus of £9.6 million has been
restructured on commercial terms including security, board representation and
interest, as announced on 5 March 2026. The Company will provide a further
update on Recyclus in the coming days.

Risk Statement

Notwithstanding the above, the directors confirm that the Company and its
group of companies has limited cash reserves at the time of restoration and
has historically been loss making. Its future capital needs are uncertain and
will be influenced by a wide range of factors including the rate at which the
Company may be able to grow its revenues and realise value from its portfolio
assets. Accordingly, there can be no assurance that the Company will not need
to raise additional funds in the future. There can be no certainty when, or
if, the Group will achieve profitability or positive operating cash flow. The
failure to raise such funds means the Group could continue to have going
concern challenges and the terms of the conditional settlements with creditors
that have been disclosed may not be capable of being performed without further
variations.

CEO Statement

Alex Stanbury, Chief Executive Officer of Technology Minerals Plc, said:

"Today marks a significant turning point for Technology Minerals. The
restoration of trading brings to a close a period of necessary but demanding
preparation, during which we have filed audited accounts, restructured our
balance sheet and reached conditional settlements with our major lenders.

"The UK faces a growing strategic imperative to build domestic resilience in
critical minerals, battery recycling and advanced manufacturing. Technology
Minerals is positioned to address that imperative directly, through our
holding in Recyclus and through the strategic opportunities we are developing
with our incoming non-executive directors Nick Bridle and Mick Cataldo.

"Recyclus is delivering strongly and we look forward to sharing a fuller
update in the coming days. We are working with Fortified Securities and Oberon
Capital to conclude the Anticipated Placing and I am confident in the
opportunity ahead."

 

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

 

About 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.

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  MSCFIFSRSSIVLIR



            Copyright 2019 Regulatory News Service, all rights reserved