REG - Tungsten West PLC - Conversion of B Shares

Tungsten WestAnnouncement

23/02/2026 15:00

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RNS Number : 0551U  Tungsten West PLC  23 February 2026

23 February 2026

Tungsten West Plc

("Tungsten West" or the "Company")

Conversion of B Shares

Tungsten West (AIM: TUN), the mining company focused on restarting production
at the Hemerdon tungsten and tin mine in Devon in the UK announces that on 17
and 20 February 2026, the Company received notices for the partial conversion
of B Shares into new Ordinary Shares. The Company has received the following
conversion notices from:

·      Drakewood Capital Management Limited to convert 60,000,000 B
Shares into new Ordinary Shares on a one-to-one basis;

·      Henry Maxey to convert 60,000,000 B Shares into new Ordinary
Shares to Henry Maxey on a one-to-one basis; and

·      Lansdowne Partners (UK) LLP to convert 79,520,870 B Shares into
new Ordinary Shares on a one-to-one basis

Accordingly, the Company will issue an aggregate of 199,520,870 new Ordinary
Shares on a one-to-one basis.  Following the conversion, the number of
outstanding B Shares not yet converted into Ordinary Shares will be
290,882,119.

Admission and Total Voting Rights

Applications have been made for the new Ordinary Shares to be admitted to
trading on AIM ("Admission"). Admission is expected to become effective on 24
February 2026.

Immediately following Admission, the issued ordinary share capital of the
Company is expected to comprise 1,074,741,101 Ordinary Shares. Each Ordinary
Share has one voting right and no Ordinary Shares are held in treasury. From
Admission, this figure may be used by Shareholders as the denominator for the
calculation by which they will 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.

Ends

 

For further information, please contact:

 

Enquiries

 Tungsten West                          Strand Hanson

 Jeff Court, Chief Executive Officer    (Nominated Adviser and Financial Adviser)

 Phil Povey, Chief Financial Officer    James Spinney / James Dance / Abigail Wennington

 Tel: +44 (0) 1752 278500               Tel: +44 (0) 207 409 3494

 BlytheRay                              Hannam & Partners

 (Financial PR)                         (Broker)

 Megan Ray / Rachael Brooks             Andrew Chubb / Matt Hasson / Jay Ashfield

 Tel: +44(0) 20 7138 3204               Tel: +44 (0)20 7907 8500

 Email:  tungstenwest@blytheray.com

  Follow us on X @TungstenWest

 

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