Director Dealings

Tungsten West

07/01/2026 07:00

RNS Number : 8951N

Tungsten West PLC

07 January 2026

 

07 January 2026

 

 

Tungsten West Plc

("Tungsten West", the "Company" or the "Group")

 

Director Dealings

 

Tungsten West plc (LON:TUN), the mining company focused on restarting production at the Hemerdon tungsten and tin mine ("Hemerdon" or the "Project") in Devon, UK, announces that it has been informed of the following share dealing by a director in the Company.

 

Further to the Company's announcement on 2 January 2026, Tungsten West has been informed that Richard Maxey, Non-Executive Director, has become interested in a total of 366,210 ordinary shares of 1 pence each in the Company ("Ordinary Shares"), following the mandatory conversion of £10,986.30 of convertible loan notes at 3.00 pence per Ordinary Share.

 

Following the above acquisition, the beneficial holdings in Tungsten West of Mr Maxey are as follows:

 

Director
Shares Acquired
Resulting Shareholding
% of the Company Held
Richard Maxey
366,210
366,210
0.05%

 

Update to the Drakewood Concert Party

 

The Drakewood Concert Party now comprises Drakewood Capital Management Limited, David Lilley, Henry Maxey, Rick Maxey, Godolphin Minerals Limited, Mark Thompson and Andrew Monk. Following the issuance of the Conversion Shares the shareholdings of the individual members of the Drakewood Concert Party is as follows:

 

Shareholder
Ordinary Shares held prior to Conversion
Conversion Shares issued
Resultant holding of Ordinary Shares
% of total voting rights
Drakewood Capital Management Limited and David Lilley
6,506,382
84,438,895
90,945,277
11.73%
Henry Maxey
13,782,089
100,196,491
113,978,580
14.70%
Richard Maxey
-
366,210
366,210
0.05%
Godolphin Minerals Limited
-
18,310,502
18,310,502
2.36%
Mark Thompson
3,249,148
3,662,100
6,911,248
0.89%
Andrew Monk
-
1,645,243
1,645,243
0.21%
Total
23,537,619
208,619,441
232,157,060
29.95%

 

 

Ends

 

 

For further information, please contact:

 

Enquiries

Tungsten West
Jeff Court (CEO)
Tel: +44 (0) 1752 278500
Phil Povey (CFO)
Tel: +44 (0) 1752 278500
Strand Hanson
(Nominated Adviser and Financial Adviser)
James Spinney / James Dance / Abigail Wennington
Tel: +44 (0) 207 409 3494
BlytheRay
(Financial PR)
Tim Blythe / Megan Ray
Tel: +44(0) 20 7138 3204
Email: tungstenwest@blytheray.com
Hannam & Partners
(Financial Adviser and Broker)
Andrew Chubb / Matt Hasson / Jay Ashfield
+44 (0)20 7907 8500

 

Follow us on X @TungstenWest

 

 

 

 

 

 

 

 

 

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 United Kingdom domestic law by virtue of the European Union (Withdrawal) Act 2018, as amended.

 

PDMR Notification Form:

 

The notification below is made in accordance with the requirements of MAR.

 

1.
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Richard Maxey
2.
Reason for the Notification
a)
Position/status
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
Tungsten West plc
b)
LEI
213800QNV72HX3JAFC56
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 1 pence each in the share capital of Tungsten West plc
Identification code
GB00BP6QM557
b)
Nature of the Transaction
Acquisition of Ordinary Shares via mandatory conversion of convertible loan notes
c)
Price(s) and volume(s)
Price(s)
Volume(s)
3.00 pence
366,210 Ordinary Shares
d)
Aggregated information
Aggregated volume Price
N/A (Single transaction)
e)
Date of the transaction
31 December 2025
f)
Place of the transaction
London Stock Exchange, AIM Market (XLON)

 

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