REG - Zinnwald Lithium PLC - Result of Placing and Retail Offer

Zinnwald LithiumAnnouncement

14/12/2021 08:20

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RNS Number : 5755V  Zinnwald Lithium PLC  14 December 2021

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information is now considered to be in the public domain.

 

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

 

14 December 2021

 

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

Result of Placing and Retail Offer

 

Zinnwald Lithium plc, the German focused lithium development company, is
pleased to announce the successful conclusion of the Placing and Retail Offer,
details of which were announced yesterday. A total of approximately £5.8
million (before expenses) has been raised in the Fundraising.

 

A total of approximately 13.2 million Placing Shares have been placed with
institutional and professional investors by Oberon Capital, at the Placing
Price.  As a result, the participation of Mr Henry Maxey in the Placing has
been scaled back to approximately 12.6 million Placing Shares.

 

In conjunction with the Placing, retail and other investors have subscribed
for approximately 11.7 million Retail Shares at the Placing Price pursuant
to the offer made by the Company via the PrimaryBid platform, with
approximately 40 per cent. of these being subscribed by existing shareholders
of the Company.  The Retail Offer raised gross proceeds of approximately
£1.8 million for the Company.

 

Application has been made for the 37,789,511 New Ordinary Shares, to be issued
in relation to the Fundraising, to be admitted to trading on AIM ("Admission")
and Admission is expected to occur on or around 20 December 2021.

 

Anton du Plessis, CEO of Zinnwald said:

"I am pleased to announce the results of this successful Fundraising to enable
us to advance the development of the Zinnwald Lithium Project with the target
of being a meaningful European lithium producer.   The last 15 months have
been a transformative time for the Company and I welcome all our new investors
to the Company and thank our existing shareholders for their ongoing support."

 

Total Voting Rights

Upon Admission, the Company's issued share capital will consist
of 293,395,464 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 293,395,464. 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 13 December
2021 to announce the launch of the Fundraising.

 

For further information contact:

 

 Anton du Plessis                                Zinnwald Lithium plc                         info@zinnwaldlithium.com
 David Hart / Liz Kirchner                       Allenby Capital Limited (Nominated Adviser)  +44 (0) 20 3328 5656
 Mike Seabrook / Robert Hayward/ Chris Crawford  Oberon Capital                               +44 (0) 20 3179 5344

                                                 (Broker to the Fundraising)                  +44 (0) 20 3179 5315
 Isabel de Salis / Oonagh Reidy                  St Brides Partners Ltd                       info@stbridespartners.co.uk

                                                 (Financial PR)

Notes

Zinnwald Lithium plc (EPIC: ZNWD.L) is an AIM quoted, German focused 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, a late-stage development project with attractive
economics and approved mining licence.  A Feasibility Study, published
in June 2019, highlighted a €428m pre-tax NPV, a pre-tax IRR of 27.4% and
a 46% EBITDA margin for Zinnwald.  The project is located in the heart
of Europe's chemical and automotive industries and has the potential to be
one of Europe's most advanced battery grade lithium projects.

 

 

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