REG - URU Metals Limited - Share Split and Total Voting Rights

URU MetalsAnnouncement

17/03/2025 07:15

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RNS Number : 8333A  URU Metals Limited  17 March 2025

17 March 2025

URU Metals Limited

("URU" or "the Company")

Share Split and Total Voting Rights

URU announces that at its board meeting held earlier this weekend, the Board
of Directors passed a resolution to conduct a sub-division ("Share Split")
whereby each existing ordinary share of the Company of nil par value each
("Existing Ordinary Shares") will be divided into 25 new ordinary shares of
the Company of nil par value each ("New Ordinary Shares"). The Share Split is
intended to increase liquidity in, and the marketability of, the Company's
ordinary shares, and appeal to a wider group of retail and institutional
investors.

The Share Split is conditional on the New Ordinary Shares being admitted to
trading on AIM ("Admission"). Admission is expected to become effective at
8.00 a.m. on 24 March 2025 at which time the Share Split will become
effective. The last day of trading in the Existing Ordinary Shares is
therefore expected to be 21 March 2025 and the record date for the Share Split
is 6.00pm on that date (the "Record Date").

Shareholders will receive 25 New Ordinary Shares in exchange for each Existing
Ordinary Share held at the Record Date. CREST accounts are expected to be
credited with New Ordinary Shares on 24 March 2025 and share certificates in
respect of the New Ordinary Shares are expected to be posted to shareholders
within 10 business days of Admission.

The ISIN and the SEDOL of the New Ordinary Shares will remain the same as the
Existing Ordinary Shares (being VGG930042012 and BH0LMN8 respectively). The
ticker for the New Ordinary Shares will also remain the same as the ticker for
the Existing Ordinary Shares (URU).

The New Ordinary Shares will rank pari passu with each other and will be
subject to the same rights and restrictions as the Existing Ordinary Shares. A
holding of New Ordinary Shares following the Share Split will represent the
same proportion of the total issued ordinary share capital of the Company as
the corresponding holding of Existing Ordinary Shares immediately prior to the
Share Split.

The Company currently has 1,646,691 Existing Ordinary Shares in issue (no
Existing Ordinary Shares are held in treasury). On this basis, in accordance
with the Financial Conduct Authority's Disclosure Guidance and Transparency
Rules, the Company advises that, following the completion of the Share Split,
the Company will have 41,167,275 New Ordinary Shares in issue (assuming no
further shares are issued by the Company prior to the Share
Split). Shareholders may use this figure 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 issued share capital of the
Company.

 

Expected Timetable of Principal Events

 

 Board approval of Share Split                                                                 16 March 2025
 Record Date in respect of the Share Split                                     6.00 p.m. on 21 March 2025
 'Ex' date in respect of the Share Split                                       24 March 2025
 Admission expected to become effective and dealings expected to commence in   8.00 a.m. on 24 March 2025
 the New Ordinary Shares on AIM

 CREST accounts expected to be credited in respect of New Ordinary Shares in   24 March 2025
 uncertificated form

 Expected date by which certificates in respect of New Ordinary Shares are to  within 10 business days of Admission
 be despatched to certificated Shareholders

 

 

 For further information, please contact:

 

 URU Metals Limited               +1 416 504 3978

 John Zorbas

 (Chief Executive Officer)

 SP Angel Corporate Finance LLP   + 44 (0) 203 470 0470

 (Nominated Adviser and Broker)

 Ewan Leggat / Jen Clarke

 

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