REG - Tungsten West PLC - Conversion of B Shares

Tungsten WestAnnouncement

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RNS Number : 3034W  Tungsten West PLC  12 March 2026

12 March 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 6
and 11 March 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 10,339,891 B
Shares into new Ordinary Shares on a one-to-one basis; and

·      Henry Maxey to convert 23,466,395 B Shares into new Ordinary
Shares on a one-to-one basis.

Accordingly, the Company will issue an aggregate of 33,806,286 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
257,075,833.

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 17
March 2026.

Immediately following Admission, the issued ordinary share capital of the
Company is expected to comprise 1,247,672,923 Ordinary Shares and 257,075,833
B 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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