REG - Tertiary Minerals - Directors’ Subscriptions

Tertiary MineralsAnnouncement

01/07/2025 11:45

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RNS Number : 2324P  Tertiary Minerals PLC  01 July 2025

 

 

("Tertiary" or "the Company")

 

 

1 July 2025

 

Directors' Subscriptions

Further to the Company's announcement of a Placing on 6 June 2025 (the
"Placing" and the "Placing Announcement") and following the release of its
Interim Results on 27 June 2025, Tertiary Minerals plc (AIM: TYM) is pleased
to announce that it has now raised a further £25,000 (before expenses) from
certain directors of the Company as notified in the Placing Announcement.

Consequently, a further 83,333,333 new ordinary shares of 0.01 pence each in
the Company (the "Subscription Shares") have been issued to certain directors
at a price of 0.03 pence per share as detailed below (the "Directors'
Subscriptions").

                                           Holding prior to Directors' Subscriptions             Number of Subscription Shares acquired pursuant to the Directors'  Holding immediately following Admission of the Subscription Shares

                                                     Subscriptions

                                           Number of Ordinary Shares  % of issued share capital  Number of Ordinary Shares                                          Number of Ordinary Shares           % of issued share capital
 Richard Belcher                           873,362                    0.02%                      33,333,333                                                         34,206,695                          0.69%

 Managing Director
 Patrick Cheetham, Executive Chairman      84,639,524*                1.73%                      33,333,333                                                         117,972,857*                        2.38%
 Donald McAlister, Non-Executive Director  2,937,609                  0.06%                      16,666,667                                                         19,604,276                          0.40%

*includes 2,843,625 held by K E Cheetham

As directors of the Company, Messrs Belcher, Cheetham and McAlister are
"related parties" of the Company under the AIM Rules for Companies (the "AIM
Rules").  As a result, their subscription for the Subscription Shares
constitutes a related party transaction pursuant to Rule 13 of the AIM Rules.

 

Dr. Mike Armitage, being the sole independent Director in the matter of the
Directors Subscription, having consulted with the Company's Nominated Adviser,
SP Angel Corporate Finance LLP, is satisfied that the terms of the Directors'
Subscription are fair and reasonable insofar as the Company's shareholders are
concerned. The Directors' Subscriptions have been made on the same terms as
the Placing.

 

Admission

The Subscription Shares will rank pari passu with the Company's existing
ordinary shares.  An application has been made to the London Stock Exchange
for admission of the Subscription Shares to trading on AIM. Admission is
expected to occur at 8.00 a.m. on or around 7 July 2025.

 

Use of Proceeds

As per the Placing, the net funds raised by the Directors' Subscriptions will
be applied towards drilling at the Company's Mushima North Project and for
working capital.

Total Voting Rights

Following Admission of the Subscription Shares the Company's enlarged issued
share capital will be 4,963,009,573 ordinary shares.

 

The Company holds no ordinary shares in treasury. The total number of voting
rights in the Company is therefore 4,963,009,573 and this figure may be used
by shareholders as the denominator for the calculations by which they
determine if they are required to notify their interest in, or a change to
their interest in, the Company under the FCA's Disclosure Guidance and
Transparency Rules.

 

 

Market Abuse Regulation

 

The information contained within this announcement is deemed by the Company to
constitute inside information as stipulated under the Market Abuse Regulation
(EU) No. 596/2014 as it forms part of UK domestic law by virtue of the
European Union (Withdrawal) Act 2018 ('MAR'). Upon the publication of this
announcement via Regulatory Information Service ('RIS'), this inside
information is now considered to be in the public domain.

 

 

Further Information:

 

 Tertiary Minerals plc:
 Richard Belcher, Managing Director  +44 (0) 1625 838 679

 SP Angel Corporate Finance LLP

 Nominated Adviser and Broker
 Richard Morrison/Jen Clarke         +44 (0) 203 470 0470
 Peterhouse Capital Limited

 Joint Broker
 Lucy Williams/Duncan Vasey          +44 (0) 207 469 0930

 

 

 

About Tertiary Minerals plc

Tertiary Minerals plc (AIM: TYM) is an AIM-traded mineral exploration and
development company whose strategic focus is on energy transition metals. The
Company's projects are all located in stable and democratic, geologically
prospective, mining-friendly jurisdictions. Tertiary's current principal
activities are the discovery and development of copper and precious metal
mineral resources in Zambia and Nevada.

 

 

NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING
MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM.

 1.      Details of the person discharging managerial responsibilities/person closely
         associated
 a)      Name:                                                         1.   Patrick Cheetham

                                                                       2.   Richard Belcher

                                                                       3.   Donald McAlister
 2.      Reason for the notification
 a)      Position/status:                                              1.   Executive Chairman

                                                                       2.   Managing Director

                                                                       3.   Non-Executive Director
 b)      Initial notification/Amendment:                               Initial notification
 3.      Details of the issuer, emission allowance market participant, auction
         platform, auctioneer or auction monitor
 a)      Name:                                                         Tertiary Minerals plc
 b)      LEI:                                                          213800OT9C6DQN9VO543
 4.      Details of the transaction(s): section to be repeated for (i) each type of
         instrument; (ii) each type of transaction; (iii) each date; and (iv) each
         place where transactions have been conducted
 a)      Description of the financial instrument, type of instrument:

Ordinary Shares of 0.01 pence each
         Identification code:

                                                                       GB0008854563
 b)      Nature of the transaction:                                    Participation in the Placing and Subscription
 c)      Price(s) and volume(s):                                       1.   Patrick Cheetham

                                                                       Participation in the Subscription

Price(s)    Volume(s)
                                                                       0.03 pence  33,333,333

2.   Richard Belcher

                                                                       Participation in the Subscription

Price(s)    Volume(s)
                                                                       0.03 pence  33,333,333

3.   Donald McAlister

                                                                       Participation in the Subscription

Price(s)    Volume(s)
                                                                       0.03 pence  16,666,667
 d)      Aggregated information:                                       Participation in the Subscription

Price(s)    Volume(s)
         Aggregated volume:                                            0.03 pence  83,333,333

         Price:
 e)      Date of the transaction:                                      1 July 2025
 f)      Place of the transaction:                                     Outside a trading venue

2.   Richard Belcher

Participation in the Subscription

 Price(s)    Volume(s)
 0.03 pence  33,333,333

3.   Donald McAlister

Participation in the Subscription

 Price(s)    Volume(s)
 0.03 pence  16,666,667

d)

Aggregated information:

Aggregated volume:

Price:

Participation in the Subscription

 Price(s)    Volume(s)
 0.03 pence  83,333,333

e)

Date of the transaction:

1 July 2025

f)

Place of the transaction:

Outside a trading venue

 

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