REG - Zinnwald Lithium PLC - Result of fundraising

Zinnwald LithiumAnnouncement

23/03/2023 08:00

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RNS Number : 9966T  Zinnwald Lithium PLC  23 March 2023

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THIS ANNOUNCEMENT IS FOR INFORMATIONAL PURPOSES ONLY AND IS NOT AN OFFER OF
SECURITIES IN ANY JURISDICTION.

 

PRIOR TO PUBLICATION, THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT WAS
DEEMED BY THE COMPANY TO CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER THE
UK MARKET ABUSE REGULATION. WITH THE PUBLICATION OF THIS ANNOUNCEMENT, THIS
INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

 

Zinnwald Lithium plc / EPIC: ZNWD.L / Market: AIM / Sector: Mining

23 March 2023

Zinnwald Lithium plc ("Zinnwald Lithium" or the "Company")

Results of Fundraise

 

Zinnwald Lithium plc, the German focused lithium development company, is
pleased to announce it has completed a total fundraise of £18.75m at the
Placing Price of 10.41p per share pursuant to the Fundraising announced on 22
March 2023.  The Company will apply for 180,129,160 New Ordinary Shares to be
admitted to trading on AIM ("Admission") and Admission is expected to occur on
or around 29 March 2023.  This will increase the Company's issued share
capital to 473,524,624 (the "enlarged share capital").

 

AMG have subscribed for 118,996,738 New Ordinary Shares to give them a 25.13%
shareholding based on the enlarged share capital 1  (#_ftn1) .  Henry Maxey
has subscribed for 26,337,585 New Ordinary Shares to maintain his pre-existing
14.62% shareholding based on the enlarged share capital.  Mark Tindall has
subscribed for 8,000,000 New Ordinary Shares to increase his shareholding to
4.17% based on the enlarged share capital.

 

A further total of 24.5 million Placing Shares have been placed at the Placing
Price with institutional and professional investors by Oberon Capital and
Tamesis Partners, at the Placing Price.

 

In conjunction with the Placing, retail and other investors participating in
the Retail Offer have subscribed for approximately 2.3 million New Ordinary
Shares at the Placing Price pursuant to the Retail Offer made by the Company
via the PrimaryBid platform.

 

 1  In the RNS announcement published by the company at 17:01 on 22 March 2023
it was stated that AMG had agreed to subscribe for up to 123,438,866 shares
equating to 25% of the enlarged share capital of the Company. That was an
error and in fact that agreement was to subscribe for up to 124,000,000 shares
equating to 25.13% of the enlarged share capital of the Company, but subject
to scale back depending on the outcome of the Fundraise.

 

 

Anton du Plessis, Chief Executive Officer of Zinnwald, commented:

"This £18.75 million fundraise, at a premium to market price, anchored by a
leading participant in the European lithium industry, AMG, is a significant
endorsement of our project and provides a clear pathway towards Zinnwald
becoming an important supplier of LiOH to the European battery industry; this
is particularly relevant in light of the newly published European Critical
Raw Materials Act to reduce the EU's dependence on imported raw minerals.

 

"As part of AMG's investment, we also look forward to soon welcoming Dr
Stefan Scherer to our Board.  He brings with him many years of lithium sector
experience and will be invaluable as we take the Project forwards through BFS
and towards production."

 

Dr Stefan Scherer, Chief Executive Officer of AMG Lithium GmbH, commented:

"I am looking forward to assist the Zinnwald Lithium team and to work on
bringing this exciting and strategic project forward."

 

 

Total Voting Rights

Upon Admission, the Company's issued share capital will consist of 473,524,624
Ordinary Shares with one voting right each. The Company does not hold any
ordinary shares in treasury. Therefore, the total number of ordinary shares
and voting rights in the Company will be 473,524,624. With effect from
Admission, this figure may be used by shareholders in the Company as the
denominator for the calculations by which they will determine if they are
required to notify their interest in, or a change to their interest in, the
share capital of the Company under the FCA's Disclosure Guidance and
Transparency Rules.

 

Capitalised terms used in this announcement shall, unless defined in this
announcement or unless the context provides otherwise, bear the same meaning
ascribed to such terms in the announcement made by the Company on 22 March
2023 to announce the launch of the Fundraising.

 

For further information contact:

 

 Anton du Plessis       Zinnwald Lithium plc                         info@zinnwaldlithium.com

 Cherif Rifaat
 John Depasquale        Allenby Capital Limited (Nominated Adviser)  +44 (0) 20 3328 5656

 Dan Dearden-Williams
 Michael Seabrook       Oberon Capital                               +44 (0) 20 3179 5300

 Adam Pollock           (Joint Broker to the Placing)
 Richard Greenfield     Tamesis Partner LLP                          +44 (0) 20 3882 2868

 Charles Bendon         (Joint Broker to the Placing)
 Isabel de Salis        St Brides Partners Ltd                       info@stbridespartners.co.uk

 Paul Dulieu            (Financial PR)

Notes

Zinnwald Lithium plc (EPIC: ZNWD.L) is an AIM quoted, integrated lithium
development company focussed on becoming an important supplier
to Europe's fast-growing battery sector. The Company owns the Zinnwald
Lithium Project in Germany, an advanced development project with attractive
economics and approved mining licence.  Its PEA, published in September
2022, highlighted the positive economics of the Project with a Pre-tax NPV8 of
US$1,605m, IRR of 39.0%, $192m EBITDA and a payback of just 3.3 years.  The
Project is located in the heart of Europe's chemical and automotive
industries and has the potential to be one of Europe's more advanced battery
grade lithium projects.

 

 

 1    Details of the person discharging managerial responsibilities / person closely
      associated
 a)   Name                                                         Name              Position
                                                                   Anton du Plessis  CEO
                                                                   Cherif Rifaat     CFO
 2    Reason for the notification
 a)   Position/status                                              See 1a)
 b)   Initial notification /Amendment                              Initial notification

 3    Details of the issuer, emission allowance market participant, auction

    platform, auctioneer or auction monitor

 a)   Name                                                         Zinnwald Lithium plc
 b)   LEI                                                          213800LXW3HPZ7ZSBE37
 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 in the Company

      Identification code                                          GB00BFN4GY99
 b)   Nature of the transaction                                    Subscription for new Ordinary shares

 c)   Price(s) and volume(s)                                       Name               Price(s)   Volume(s)
                                                                   Anton du Plessis  £0.1041     720,000
                                                                   Cherif Rifaat     £0.1041     675,000
 d)   Aggregated information                                       n/a

      - Aggregated volume

      - Price
 e)   Date of the transaction                                      23 March 2023 (admission to trading on 29 March 2023)
 f)   Place of the transaction                                     Outside a trading venue

2

Reason for the notification

a)

Position/status

See 1a)

b)

 

Initial notification /Amendment

Initial notification

3

 

Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor

a)

Name

Zinnwald Lithium plc

b)

LEI

213800LXW3HPZ7ZSBE37

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

Identification code

Ordinary Shares of £0.01 in the Company

GB00BFN4GY99

b)

Nature of the transaction

Subscription for new Ordinary shares

 

c)

Price(s) and volume(s)

 Name               Price(s)   Volume(s)
 Anton du Plessis  £0.1041     720,000
 Cherif Rifaat     £0.1041     675,000

d)

Aggregated information

- Aggregated volume

- Price

n/a

e)

Date of the transaction

23 March 2023 (admission to trading on 29 March 2023)

f)

Place of the transaction

Outside a trading venue

 

(#_ftnref1)

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