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#FCM First Class Metals PLC – Repayment of Loan and Share Placing
First Class Metals PLC (“First Class Metals” “FCM” or the “Company”) is a UK metals exploration company focused on the discovery of economic metal deposits across its extensive Canadian – northern Ontario land holding, is pleased to announce that it has completed the repayment of the shares loaned to the Company by James Knowles, a director of FCM.
Mr Knowles previously loaned the Company two tranches of shares totalling 5,912,059 ordinary shares of £0.001 par value (“Shares”), as announced on 17 July 2024, and consequently 5,912,059 new Shares (“Loan Shares”) have been issued to him today to settle this outstanding position.
Admission and Total Voting Rights
Applications will be made to the FCA and the LSE for admission (“Admission”) of the 5,912,059 Loan Shares, which is expected to be on or around 7 August 2024. These shares rank pari passu with the existing ordinary shares of the Company.
Following Admission, the Company has 97,653,420 Shares in issue, each with one vote per share (and none of which are held in treasury). The total number of voting rights in the Company is therefore 97,653,420. This figure of 97,653,420 may be used by shareholders in the Company as the denominator for calculations to determine if they have a notifiable interest in the share capital of the Company under the Disclosure Guidance and Transparency Rules, or if such interest has changed.
Share Placing
The Company is also pleased to announce that it has completed a private placing of 9,500,000 Shares at a price of 2.7 pence per Share (the “Placing Price”), raising gross proceeds of £256,500 (the “Placing”). Axis Capital Markets, acted as the Company’s sole placing agent in respect of the Placing. The company are pleased to appoint Axis Capital Markets as its new broker following the completion of the fundraising.
The Placing Price represents a 16% discount to the mid-market closing price of the Company’s shares on 1 August 2024, the last trading date prior to the completion of the placing.
The proceeds from the Placing, are intended to be used to continue the Company’s activities across the portfolio aimed at enhancing value, including:
– Expansion and development of the company’s exploration activities on the Dead Otter Trend North, Hemlo.
– Work will include the expansion and potential addition of further stripping and channel sampling sites accelerating exploration further across the 3.7km long Dead Otter Trend.
– Exploration activities on FCM’s other core projects in Northern Ontario.
– For general working capital purposes.
James Knowles, Executive Chairman, Commented:
“In light of the recent announcements regarding the high priority status of the Dead Otter Trend, it was considered wise to take advantage of the crews and equipment already mobilised at the site to increase both the number and scope of stripping sites.
We believe that the Dead Otter project holds transformative potential for FCM’s future, and completing this capital raise promptly will allow significant additional work this summer, thus enhancing our understanding of the geology and the target’s true potential.
Marc Sale, our CEO, is currently onsite overseeing operations and will collaborate closely with the Emerald Geological Team to formulate an expanded operational plan.
I am also pleased to announce the appointment of Axis Capital Markets to be the Company’s new broker”
Director’s-Stock Lending Agreement(s)
The Company does not presently have sufficient headroom to enable the Shares subject to the Placing to be admitted to trading without the publication of an FCA approved prospectus. The Company is therefore proposing that following Admission, James Knowles, a director of the Company, loans 9,500,000 Shares to the Company by means of a share loan agreement (the “Share Lending Agreement”), to facilitate the Placing by the Company. This loan involves no consideration being paid or security granted to James Knowles or a chargeable fee.
The Placing is expected to be completed on or around 21 August 2024.
The Share Lending Agreements provide for the allotment of an aggregate of 9,500,000 new Shares in the Company to James Knowles by 30 December 2024 to replace the Shares loaned in terms of the Share Lending Agreement.
James Knowles has elected not to charge a fee for the loan of these shares.
Following the Share Lending Agreement, James Knowles will have a total of 9,500,000 Shares loaned to the Company.
Material Related Party Transaction
As James Knowles is a director of the Company, the Share Lending Agreement is a material related party transaction (“MRPT”) under the Disclosure Transparency & Guidance Rules.
Marc Sale, Marc Bamber and Andrew Williamson, being the independent directors for the purpose of this MRPT, have approved the MRPT as being fair and reasonable from the perspective of FCM and its shareholders.
For further information, please contact:
|
James Knowles, Executive Chairman |
07488 362641 |
|
|
Marc J Sale, CEO |
07711 093532 |
Novum Securities Limited (Financial Adviser)
|
David Coffman/ George Duxberry |
www.novumsecurities.com |
(0)20 7399 9400 |
Axis Capital Markets (Broker)
|
Lewis Jones/ Ben Tadd |
Axcap247.com |
(0) 203 026 0449 |
#BRES Blencowe Resources PLC – Subscription & Conditional Subscription – Replace
New Investor
The Company is pleased to report it has raised US$500,000 (£392,350) at 5 pence per share with a specialist African-based investor (“African Investor”) through the issue of 7,847,000 new ordinary shares. The investor has undertaken extensive due diligence over the last four months and the current investment is viewed as an initial entry into the project ahead of anticipated further investment as required. The shares have been issued to the African Investor under the Company’s existing headroom.
Additional Investor and the Issue of a Prospectus
In addition, the Company has conditionally raised a further £2,500,000 at 5 pence resulting in the issue of 50,000,000 new ordinary shares to an additional strategic investor (“Strategic Investor”). The Company is required to publish a prospectus on the basis that it will be issuing more than 20% of its issued share capital in a 12-month period. The Company and its advisers are in advanced stages of finalising the prospectus. The Company anticipates publishing the prospectus this month and will update shareholders prior to its publication.
Conditional Subscription
The Strategic Investor has received investment committee approval and made a firm commitment to subscribe. The subscription by the Strategic Investor is subject to the Company issuing the prospectus, a general meeting by the Company to approve certain resolutions relating to the issue of new ordinary shares, settlement of the investment and the issue and allotment of the new ordinary shares.
For the avoidance of doubt, the subscription by the African Investor is firm and not contingent on any investment by the Strategic Investor. The subscription funds have been received from the African Investor and the Company shall apply for the new ordinary shares to commence trading.
Admission
An application has been made for 7,847,000 new ordinary shares to be admitted to trading on the official list and the London Stock Exchange from 8.00 a.m. on Monday 12 February 2024 (“Admission”).
In accordance with the FCA’s Disclosure Guidance and Transparency Rules, the Company confirms that following Admission, the Company’s enlarged issued ordinary share capital will comprise 217,226,950 Ordinary Shares. The Company does not hold any Ordinary Shares in Treasury. Therefore, following Admission, the above figure may be used by shareholders in the Company as the denominator for the calculations to 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.
Mike Ralston, CEO of Blencowe Resources, commented:
‘I am pleased to provide this positive update with respect to our fundraising initiatives. As previously reported, we have already received US$2,000,000 in grant funding from the US International Development Finance Corporation (“DFC”) out of their approved US$5,000,000 grant. A further US$1,000,000 is expected from the DFC in the near term as the next milestones have been met.
We now welcome a new specialist African investor to the register following the fundraise of US$500,000 at 5 pence, which represents a healthy premium to the current market price and underlines their decision to invest for the long term after an extensive due diligence exercise. We reasonably believe that they will look to invest further as our relationship is built.
Moreover, we are now in the closing stages of a further subscription of £2.5m at 5 pence from another Strategic Investor and we are busily working with our advisers to finalise and issue the prospectus.
Both these investments at 5p underline the value proposition offered by Blencowe and will provide us with a good runway to complete the DFS this year. We are making rapid progress in de-risking the Orom-Cross project, especially following the recent letter of interest received from the DFC to provide a funding solution for the build and development of Orom-Cross. We will continue to work closely with the DFC as we complete the DFS to ensure construction can commence at Orom-Cross in a timely fashion.
I believe it is testament of the quality of the Orom-Cross project that we have been able secure funding partners like this at a time when the junior mining sector continues to face significant difficulties with respect to sourcing capital. We are hoping to deliver an NPV in the DFS significantly higher than the post-tax NPV of US$482M achieved in the Pre-Feasibility Study and will keep shareholders updated on our progress.’
For further information please contact:
|
Blencowe Resources Plc Sam Quinn |
www.blencoweresourcesplc.com Tel: +44 (0)1624 681 250
|
|
Investor Relations Sasha Sethi |
Tel: +44 (0) 7891 677 441
|
|
Tavira Financial Jonathan Evans |
Tel: +44 (0)20 3192 1733
|
|
First Equity Limited Jason Robertson |
Tel: +44(0)20 7330 1833 jasonrobertson@firstequitylimited.com
|
Twitter https://twitter.com/BlencoweRes
LinkedIn https://www.linkedin.com/company/72382491/admin/
Background
Orom-Cross Graphite Project
Orom-Cross is a potential world class graphite project both by size and end-product quality, with a high component of more valuable larger coarse flakes within the deposit.
A 21-year Mining Licence for the project was issued by the Ugandan Government in 2019 following extensive historical work on the deposit. Blencowe completed a successful Pre-Feasibility Study on the Project in July 2022 and is now within the Definitive Feasibility Study phase as it drives towards first production.
Orom-Cross presents as a large, shallow open-pitable deposit, with an initial JORC Indicated & Inferred Mineral Resource of 24.5Mt @ 6.0% TGC (Total Graphite Content). This Resource has been defined from only ~2% of the total tenement area which presents considerable upside potential ahead. Development of the resource is expected to benefit from a low strip ratio and free dig operations together with abundant inexpensive hydro-electric power off the national grid, thereby ensuring low operating costs. With all major infrastructure available at or near to site the capital costs will also be relatively low in comparison to most graphite peers.
Blencowe Resources #BRES – Subscription & Conditional Subscription
New Investor
The Company is pleased to report it has raised US$500,000 (£392,350) at 5 pence per share with a specialist African-based investor (“African Investor”) through the issue of 7,847,000 new ordinary shares. The investor has undertaken extensive due diligence over the last four months and the current investment is viewed as an initial entry into the project ahead of anticipated further investment as required. The shares have been issued to the African Investor under the Company’s existing headroom.
Additional Investor and the Issue of a Prospectus
In addition, the Company has conditionally raised a further £2,500,000 at 5 pence resulting in the issue of 50,000,000 new ordinary shares to an additional strategic investor (“Strategic Investor”). The Company is required to publish a prospectus on the basis that it will be issuing more than 20% of its issued share capital in a 12-month period. The Company and its advisers are in advanced stages of finalising the prospectus. The Company anticipates publishing the prospectus this month and will update shareholders prior to its publication.
Conditional Subscription
The Strategic Investor has received investment committee approval and made a firm commitment to subscribe. The subscription by the Strategic Investor is subject to the Company issuing the prospectus, a general meeting by the Company to approve certain resolutions relating to the issue of new ordinary shares, settlement of the investment and the issue and allotment of the new ordinary shares.
For the avoidance of doubt, the subscription by the African Investor is firm and not contingent on any investment by the Strategic Investor. The subscription funds have been received from the African Investor and the Company shall apply for the new ordinary shares to commence trading.
Admission
An application has been made for 7,487,000 new ordinary shares to be admitted to trading on the official list and the London Stock Exchange from 8.00 a.m. on Friday 9 February 2024 (“Admission”).
In accordance with the FCA’s Disclosure Guidance and Transparency Rules, the Company confirms that following Admission, the Company’s enlarged issued ordinary share capital will comprise 217,226,950 Ordinary Shares. The Company does not hold any Ordinary Shares in Treasury. Therefore, following Admission, the above figure may be used by shareholders in the Company as the denominator for the calculations to 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.
Mike Ralston, CEO of Blencowe Resources, commented: ‘I am pleased to provide this positive update with respect to our fundraising initiatives. As previously reported, we have already received US$2,000,000 in grant funding from the US International Development Finance Corporation (“DFC”) out of their approved US$5,000,000 grant. A further US$1,000,000 is expected from the DFC in the near term as the next milestones have been met.
We now welcome a new specialist African investor to the register following the fundraise of US$500,000 at 5 pence, which represents a healthy premium to the current market price and underlines their decision to invest for the long term after an extensive due diligence exercise. We reasonably believe that they will look to invest further as our relationship is built.
Moreover, we are now in the closing stages of a further subscription of £2.5m at 5 pence from another Strategic Investor and we are busily working with our advisers to finalise and issue the prospectus.
Both these investments at 5p underline the value proposition offered by Blencowe and will provide us with a good runway to complete the DFS this year. We are making rapid progress in de-risking the Orom-Cross project, especially following the recent letter of interest received from the DFC to provide a funding solution for the build and development of Orom-Cross. We will continue to work closely with the DFC as we complete the DFS to ensure construction can commence at Orom-Cross in a timely fashion.
I believe it is testament of the quality of the Orom-Cross project that we have been able secure funding partners like this at a time when the junior mining sector continues to face significant difficulties with respect to sourcing capital. We are hoping to deliver an NPV in the DFS significantly higher than the post-tax NPV of US$482M achieved in the Pre-Feasibility Study and will keep shareholders updated on our progress.’
For further information please contact:
|
Blencowe Resources Plc Sam Quinn |
www.blencoweresourcesplc.com Tel: +44 (0)1624 681 250
|
|
Investor Relations Sasha Sethi |
Tel: +44 (0) 7891 677 441
|
|
Tavira Financial Jonathan Evans |
Tel: +44 (0)20 3192 1733
|
|
First Equity Limited Jason Robertson |
Tel: +44(0)20 7330 1833 jasonrobertson@firstequitylimited.com
|
Twitter https://twitter.com/BlencoweRes
#SVML Sovereign Metals LTD – Result of AGM
The Annual General Meeting (AGM) of Sovereign Metals Limited (Company) (ASX:SVM, AIM:SVML) was held today, 24 November 2023, at 10.00am (AWST).
The resolutions voted on were in accordance with the Notice of AGM previously advised to shareholders. All resolutions were decided on and carried by way of poll.
In accordance with Section 251AA of the Corporations Act 2001 and ASX Listing Rule 3.13.2, the details of the poll and proxies received in respect of each resolution are set out in the below summary.
ENQUIRIES
|
Dylan Browne Company Secretary info@sovereignmetals.com |
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Nominated Adviser on AIM and Joint Broker |
|
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SP Angel Corporate Finance LLP |
+44 20 3470 0470 |
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Ewan Leggat Charlie Bouverat Harry Davies-Ball |
|
|
|
|
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Joint Brokers |
|
|
Berenberg |
+44 20 3207 7800 |
|
Matthew Armitt |
|
|
Jennifer Lee |
|
|
|
|
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Tavistock PR |
+44 20 7920 3150 |
|
Resolution |
Number of Proxy Votes |
Number and Percentage of Votes cast on the Poll |
Voting Method and Result |
|||||
|
For |
Against |
Abstain |
Proxy’s Discretion |
For |
Against |
Abstain |
||
|
1. Remuneration Report |
5,664,686 |
22,000 |
19,101,151 |
2,471,598 |
9,795,986 |
22,000 |
19,101,151 |
Carried on vote by poll |
|
2. Re-election of Director – Mr Ian Middlemas |
23,241,037 |
1,546,800 |
– |
2,471,598 |
27,372,337 |
1,546,800 |
– |
Carried on vote by poll |
|
3. Re-election of Director – Dr Julian Stephens |
23,241,037 |
1,546,800 |
– |
2,471,598 |
27,372,337 |
1,546,800 |
– |
Carried on vote by poll |
|
4. Renewal of Employee Incentive Equity Plan |
19,359,686 |
10,000 |
5,418,151 |
2,471,598 |
23,490,986 |
10,000 |
5,418,151 |
Carried on vote by poll |
|
5. Issue of Performance Rights to a Director – Mr Benjamin Stoikovich |
4,116,886 |
1,569,800 |
19,101,151 |
2,471,598 |
8,248,186 |
1,569,800 |
19,101,151 |
Carried on vote by poll |
|
6. Issue of Performance Rights to a Director – Mr Mark Pearce |
4,116,886 |
1,569,800 |
19,101,151 |
2,471,598 |
8,248,186 |
1,569,800 |
19,101,151 |
Carried on vote by poll |
|
7. Issue of Performance Rights to a Director – Mr Nigel Jones |
4,116,886 |
1,569,800 |
19,101,151 |
2,471,598 |
8,248,186 |
1,569,800 |
19,101,151 |
Carried on vote by poll |
|
8. Approval of Additional 10% Placement Capacity |
24,715,837 |
72,000 |
– |
2,471,598 |
28,847,137 |
72,000 |
– |
Carried on vote by poll |
Issue of Performance Rights
Following the shareholder approval of resolutions 5 to 7 today, the Company has issued 1,750,000 unlisted performance rights to Directors as disclosed in the Notice of AGM as follows:
· 700,000 performance rights subject to the “Grant of Mining Licence Milestone” that have no exercise price and expire 31 March 2026; and
· 1,050,000 performance rights subject to the “Final Investment Decision Milestone” that have no exercise price and expire 30 June 2026.
Following the issue of these performance rights, the Company has the following securities on issue:
· 563,003,401 fully paid ordinary shares;
· 34,549,598 unlisted options exercisable at A$0.535 each on or before 21 July 2024;
· 9,110,000 unlisted performance rights subject to the “Definitive Feasibility Study Milestone” expiring on or before 31 October 2025;
· 3,150,000 unlisted performance rights subject to the “Grant of Mining Licence Milestone” that have no exercise price and expire 31 March 2026; and
· 4,150,000 unlisted performance rights subject to the “Final Investment Decision Milestone” that have no exercise price and expire 30 June 2026.
Change of Directors’ Interest Notices are provided below.
Appendix 3Y
Change of Director’s Interest Notice
Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX’s property and may be made public.
Introduced 30/09/01 Amended 01/01/11
|
Name of entity SOVEREIGN METALS LIMITED |
|
ABN 71 120 833 427 |
A)
We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.
|
Name of Director |
Benjamin Stoikovich |
|
Date of last notice |
29 September 2023 |
Part 1 – Change of director’s relevant interests in securities
In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust
Note: In the case of a company, interests which come within paragraph (i) of the definition of “notifiable interest of a director” should be disclosed in this part.
|
Direct or indirect interest |
Direct and Indirect
|
|
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.
|
Selwyn Capital Limited (beneficial interest)
|
|
Date of change |
24 November 2023 |
|
No. of securities held prior to change |
(a) 4,190,000 (b) 600,000 (c) – (d) – |
|
Class |
(a) Ordinary Fully Paid Shares (b) Unlisted Performance Rights subject to the “Definitive Feasibility Study Milestone” expiring 31 October 2025 (c) Unlisted Performance Rights subject to the Grant of Mining Licence Milestone” expiring 31 March 2026 (d) Unlisted Performance Rights subject to the “Final Investment Decision Milestone” expiring 30 June 2026 |
|
Number acquired |
(c) 350,000 (d) 500,000 |
|
Number disposed |
Not applicable |
|
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation
|
Not applicable – see nature of change below |
|
No. of securities held after change |
(a) 4,190,000 (b) 600,000 (c) 350,000 (d) 500,000 |
|
Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back |
Issue of Performance Rights following shareholder approval |
Part 2 – Change of director’s interests in contracts
Note: In the case of a company, interests which come within paragraph (ii) of the definition of “notifiable interest of a director” should be disclosed in this part.
|
Detail of contract |
Not applicable |
|
Nature of interest
|
Not applicable |
|
Name of registered holder (if issued securities)
|
Not applicable |
|
Date of change |
Not applicable |
|
No. and class of securities to which interest related prior to change Note: Details are only required for a contract in relation to which the interest has changed
|
Not applicable |
|
Interest acquired |
Not applicable |
|
Interest disposed |
Not applicable |
|
Value/Consideration Note: If consideration is non-cash, provide details and an estimated valuation
|
Not applicable |
|
Interest after change |
Not applicable |
Part 3 – +Closed period
|
Were the interests in the securities or contracts detailed above traded during a +closed period where prior written clearance was required? |
No |
|
If so, was prior written clearance provided to allow the trade to proceed during this period? |
Not applicable |
|
If prior written clearance was provided, on what date was this provided? |
Not applicable |
|
Initial notification/Amendment |
Initial |
|
LEI |
213800NSPXSASTENFQ34 |
|
Place of transaction |
Australian Securities Exchange (ASX) |
Appendix 3Y
Change of Director’s Interest Notice
Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX’s property and may be made public.
Introduced 30/09/01 Amended 01/01/11
|
Name of entity SOVEREIGN METALS LIMITED |
|
ABN 71 120 833 427 |
B)
We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.
|
Name of Director |
Mark Pearce |
|
Date of last notice |
29 September 2023 |
Part 1 – Change of director’s relevant interests in securities
In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust
Note: In the case of a company, interests which come within paragraph (i) of the definition of “notifiable interest of a director” should be disclosed in this part.
|
Direct or indirect interest |
Direct and Indirect
|
|
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.
|
· Mr Mark Pearce and Mrs Natasha Pearce <NMLP Family A/C> (trustee and beneficial interest) · Apollo Group Pty Ltd (director and indirect shareholder) · Crystal Brook Investments Pty Ltd (director and beneficial interest)
|
|
Date of change |
24 November 2023 |
|
No. of securities held prior to change |
(a) 4,520,842 (b) 300,000 (c) – (d) – |
|
Class |
(a) Ordinary Fully Paid Shares (b) Unlisted Performance Rights subject to the “Definitive Feasibility Study Milestone” expiring 31 October 2025 (c) Unlisted Performance Rights subject to the Grant of Mining Licence Milestone” expiring 31 March 2026 (d) Unlisted Performance Rights subject to the “Final Investment Decision Milestone” expiring 30 June 2026 |
|
Number acquired |
(c) 250,000 (d) 400,000
|
|
Number disposed |
Not applicable
|
|
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation
|
Not applicable – see nature of change below
|
|
No. of securities held after change |
(a) 4,520,842 (b) 300,000 (c) 250,000 (d) 400,000 |
|
Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back |
Issue of Performance Rights following shareholder approval |
Part 2 – Change of director’s interests in contracts
Note: In the case of a company, interests which come within paragraph (ii) of the definition of “notifiable interest of a director” should be disclosed in this part.
|
Detail of contract |
Not applicable |
|
Nature of interest |
Not applicable |
|
Name of registered holder (if issued securities) |
Not applicable |
|
Date of change |
Not applicable |
|
No. and class of securities to which interest related prior to change Note: Details are only required for a contract in relation to which the interest has changed
|
Not applicable |
|
Interest acquired |
Not applicable |
|
Interest disposed |
Not applicable |
|
Value/Consideration Note: If consideration is non-cash, provide details and an estimated valuation
|
Not applicable |
|
Interest after change |
Not applicable |
Part 3 – +Closed period
|
Were the interests in the securities or contracts detailed above traded during a +closed period where prior written clearance was required? |
No |
|
If so, was prior written clearance provided to allow the trade to proceed during this period? |
Not applicable |
|
If prior written clearance was provided, on what date was this provided? |
Not applicable |
|
Initial notification/Amendment |
Initial |
|
LEI |
213800NSPXSASTENFQ34 |
|
Place of transaction |
Australian Securities Exchange (ASX) |
Appendix 3Y
Change of Director’s Interest Notice
Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX’s property and may be made public.
Introduced 30/09/01 Amended 01/01/11
|
Name of entity SOVEREIGN METALS LIMITED |
|
ABN 71 120 833 427 |
C)
We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.
|
Name of Director |
Nigel Jones |
|
Date of last notice |
29 September 2023 |
Part 1 – Change of director’s relevant interests in securities
In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust
Note: In the case of a company, interests which come within paragraph (i) of the definition of “notifiable interest of a director” should be disclosed in this part.
|
Direct or indirect interest |
Indirect
|
|
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.
|
Redbeck Partners Ltd (beneficial interest) |
|
Date of change |
24 November 2023 |
|
No. of securities held prior to change |
(e) 225,000 (f) 300,000 (g) – (h) –
|
|
Class |
(e) Ordinary Fully Paid Shares (f) Unlisted Performance Rights subject to the “Definitive Feasibility Study Milestone” expiring 31 October 2025 (g) Unlisted Performance Rights subject to the Grant of Mining Licence Milestone” expiring 31 March 2026 (h) Unlisted Performance Rights subject to the “Final Investment Decision Milestone” expiring 30 June 2026 |
|
Number acquired |
(c) 100,000 (d) 150,000 |
|
Number disposed |
Not applicable |
|
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation
|
Not applicable – see nature of change below |
|
No. of securities held after change |
(a) 225,000 (b) 300,000 (c) 100,000 (d) 150,000
|
|
Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back |
Issue of Performance Rights following shareholder approval |
Part 2 – Change of director’s interests in contracts
Note: In the case of a company, interests which come within paragraph (ii) of the definition of “notifiable interest of a director” should be disclosed in this part.
|
Detail of contract |
Not applicable |
|
Nature of interest
|
Not applicable |
|
Name of registered holder (if issued securities)
|
Not applicable |
|
Date of change |
Not applicable |
|
No. and class of securities to which interest related prior to change Note: Details are only required for a contract in relation to which the interest has changed
|
Not applicable |
|
Interest acquired |
Not applicable |
|
Interest disposed |
Not applicable |
|
Value/Consideration Note: If consideration is non-cash, provide details and an estimated valuation
|
Not applicable |
|
Interest after change |
Not applicable |
Part 3 – +Closed period
|
Were the interests in the securities or contracts detailed above traded during a +closed period where prior written clearance was required? |
No |
|
If so, was prior written clearance provided to allow the trade to proceed during this period? |
Not applicable |
|
If prior written clearance was provided, on what date was this provided? |
Not applicable |
|
Initial notification/Amendment |
Initial |
|
LEI |
213800NSPXSASTENFQ34 |
|
Place of transaction |
Australian Securities Exchange (ASX) |
#GRX Green X Metals LTD – Result of AGM
Results of Annual General Meeting
GreenX Metals Limited (GreenX or the Company) advises, that the 2023 Annual General Meeting (AGM) of the Company was held today, 22 November 2023, at 10.00am (AWST).
The resolutions voted on were in accordance with the Notice of AGM previously advised to shareholders.
All resolutions were decided on and carried by way of a poll.
In accordance with Section 251AA of the Corporations Act 2001 and ASX Listing Rule 3.13.2, the details of the poll and the proxies received in respect of each resolution are set out over page.
For further information please contact:
Dylan Browne
Company Secretary
+61 8 9322 6322
|
Resolution |
Number of Proxy Votes |
Number of Votes cast on the Poll |
Result |
|||||
|
For |
Against |
Abstain |
Proxy’s Discretion |
For |
Against |
Abstain |
||
|
1. Remuneration Report |
2,337,137 |
– |
14,575,000 |
3,557 |
2,990,694 |
– |
14,575,000 |
Carried on vote by poll |
|
2. Re-election of Director – Mr Benjamin Stoikovich |
16,912,137 |
– |
– |
3,557 |
17,565,694 |
– |
– |
Carried on vote by poll |
|
3. Approval of Additional 10% Placement Capacity |
15,575,078 |
1,337,059 |
– |
3,557 |
16,228,635 |
1,337,059 |
– |
Carried on vote by poll |
|
4. Appointment of Auditor |
16,912,137 |
– |
– |
3,557 |
17,565,694 |
– |
– |
Carried on vote by poll |
|
5. Appointment of Polish Auditor |
16,912,137 |
– |
– |
3,557 |
17,565,694 |
– |
– |
Carried on vote by poll |
#GRX GreenX Metals LTD – Issue of Shares
GreenX Metals Limited (GreenX or Company) advises that it has issued 310,288 ordinary fully paid shares (Shares) on the exercise of 600,000 unlisted options pursuant to a cashless exercise facility.
An application will be made for admission of the Shares to the standard listing segment of the Official List of the FCA (Official List) and to trading on the main market of the London Stock Exchange for listed securities (LSE Admission). LSE Admission is expected to take place on or before 10 November 2023.
For the purposes of the Financial Conduct Authority’s Disclosure Guidance and Transparency Rules (DTRs), following LSE Admission, the Company’s issued ordinary share capital will be 273,189,227 ordinary shares. The above figure of 273,189,227 may be used by shareholders as the denominator for the calculations by which they can determine if they are required to notify their interest in, or a change to their interest in, the Company following LSE Admission.
Following the issue of Shares and options, GreenX has the following securities on issue:
· 273,189,227 ordinary fully paid shares;
· 4,775,000 unlisted options exercisable at A$0.45 each on or before 30 November 2025;
· 5,525,000 unlisted options exercisable at A$0.55 each on or before 30 November 2026;
· 11,000,000 performance rights that have an expiry date 8 October 2026;
· A convertible loan note with a principal amount of A$2,627,430, convertible into 5,711,805 ordinary shares at a conversion price of A$0.46 per share with no expiry date.
Classification: 2.5 Total number of voting rights and capital
Enquiries:
|
GreenX Metals Limited |
Tel: +61 8 9322 6322 |
|
Dylan Browne, Company Secretary |
Email: info@greenxmetals.com |
#SVML Sovereign Metals LTD – Notice of AGM
Notice of Annual General Meeting
Sovereign Metals Limited (ASX: SVM, AIM: SVML) (the Company) advises that the Annual General Meeting (Meeting) will be held on Friday, 24 November 2023 at 10:00am (AWST) at the Conference Room, Ground Floor, 28 The Esplanade, Perth, Western Australia 6000.
In accordance with 110D of the Corporations Act 2001 (Cth), the Company will not be dispatching physical copies of the Notice of Meeting (unless a shareholder has elected to receive documents in hard copy in accordance with the timeframe specified in section 110E(8) of the Corporations Act 2001 (Cth)).
A copy of the Notice of Meeting can be viewed and downloaded online as follows:
· the Company’s website: http://sovereignmetals.com.au/announcements/.
· the Company’s ASX Market announcements page at www.asx.com.au under the Company’s ASX code “SVM”; or
· if you have provided an email address and have elected to receive electronic communications from the Company, you will receive an email to your nominated email address with a link to an electronic copy of the Notice of Meeting.
The Company intends to hold a physical meeting. The Company will notify shareholders of any changes to this by way of an announcement on ASX and AIM and the details will also be made available on our website.
The Notice of Meeting is important and should be read in their entirety. If you are in doubt as to the course of action you should follow, you should consult your stock broker, investment advisor, accountant, solicitor or other professional adviser.
You may also, prior to the Meeting, obtain a paper copy of the Notice of Meeting (free of charge) by contacting the Company Secretary on +61 8 9322 6322 or by sending an email to info@sovereignmetals.com.au.
Holders of Depositary Interests should complete and sign a Form of Instruction, which will be sent separately to each Holder of Depositary Interests, and return it by the time and in accordance with the instructions set out in the Form of Instruction. Holders of Depositary Interests will not be eligible to vote in person at the Meeting.
#KAV Kavango Resources PLC – Notice of General Meeting
Kavango Resources plc (LSE:KAV), the Southern Africa-focused metals exploration company, is pleased to announce that it will today post a copy of a notice of general meeting (the “General Meeting Notice” or “Circular”) and form of proxy for the general meeting to shareholders. The general meeting is to be held at 11 a.m. on 25 October 2023 at the offices of the Company’s Solicitors, Druces LLP, Salisbury House, London Wall, London EC2M 5PS (the “General Meeting”). The Company will also make these documents available to download from the Company’s website (www.kavangoresources.com).
In accordance with Listing Rule 14.3.6 of the UK Financial Conduct Authority (“FCA”), a copy of the General Meeting Notice will be submitted to the FCA via the National Storage Mechanism and will shortly be available to the public for inspection at:
https://www.fca.org.uk/markets/primary-markets/regulatory-disclosures/national-storage-mechanism
Background
The General Meeting Notice will be published and posted to shareholders today, together with a form of proxy, providing notification of the General Meeting to consider the resolutions set out below.
Resolutions have been tabled to (i) seek approval from independent shareholders of a waiver in accordance with Rule 9 of the Takeover Code (Whitewash) in relation to the Stage 2 Subscription (as announced on 09 May 2023), (ii) issue and allot, or grant rights to subscribe for or convert any securities into the Stage 2 Subscription Shares, and to (iii) allot equity securities (as defined in section 560(1) of the Companies Act 2006) for cash in respect of the Stage 2 Subscription Shares on a non-premptive basis.
Further information in respect of Kavango and its business interests is provided on the Company’s website at www.kavangoresources.com and on X (formerly known as Twitter) at #KAV.
For further information please contact:
Kavango Resources plc
Ben Turney
+46 7697 406 06
First Equity (Broker)
+44 207 374 2212
Jason Robertson
#FCM First Class Metals PLC – Canada Exploration Event in London
First Class Metals PLC (“First Class Metals” “FCM” or the “Company”) the UK metals exploration company focused on the discovery of economic metal deposits across its extensive Canadian – northwest Ontario, land holding is pleased to announce that Marc J Sale, Chief Executive Officer, will be co-hosting an investor event in the City of London on Tuesday, 19 September 2023 from 6.00pm UK time in conjunction with Darren Hazelwood, CEO of Panther Metals PLC (LSE: PALM) and Ryan Mee, CEO of Fulcrum Metals PLC (LSE: FMET).
At the event, which is free of charge and open to existing and potential investors of any of the three companies, the hosts will discuss:
· The opportunity Canada provides for mineral resource exploration.
· Each company’s strategy within this world class mining jurisdiction.
· The outlook for the resources sector and opportunities for junior mining companies.
There will also be a Q&A session where the hosts will field questions from the attendees. No new material or trading information will be provided at the event.
Event details are as follows:
· Date: Tuesday, 19 September 2023
· Time: 6.00pm for Drinks Reception, 6.30pm Event Commences
· Venue: Côte, 26 Ludgate Hill, London, EC4M 7DR
As places at this event are strictly limited, anyone wishing to attend must register in advance via the following link:
For those unable to attend, the event will also be live streamed via
https://www.youtube.com/@StockBox
and an on-demand version will be made available on the Company’s website after the event:
https://www.firstclassmetalsplc.com
For Further Information:
|
James Knowles, Executive Chairman |
07488 362641 |
|
|
Marc J Sale, CEO |
07711 093532 |
|
|
Ayub Bodi, Executive Director |
07860 598086 |
First Equity Limited
(Financial Adviser & Broker)
|
Jonathan Brown |
0207 3742212 |
|
|
Jason Robertson |
0207 3742212 |
Sovereign Metals #SVML – Rio to Invest $40.4m to Become Strategic Investor
RIO TINTO TO INVEST $40.4 MILLION AND BECOME A 15% STRATEGIC INVESTOR IN SOVEREIGN
|
· |
Rio Tinto to make an investment of A$40.4 million in Sovereign resulting in an initial 15% shareholding |
|
· |
Investment proceeds will be used to advance the Kasiya Rutile-Graphite Project in Malawi |
|
· |
Rio Tinto’s investment represents a significant step towards unlocking a major new supply of low-CO2-footprint natural rutile and flake graphite |
|
· |
Under the Investment Agreement, Rio Tinto will provide assistance and advice on technical and marketing aspects of Kasiya including with respect to Sovereign’s graphite co-product, with a primary focus on spherical purified graphite for the lithium-ion battery anode market |
|
· |
Issue of 83,095,592 new Shares of Sovereign to Rio Tinto at a price of A$0.486 per share represents a 10% premium to the 45-day volume weighted average price on the ASX as at close 14th July 2023 |
|
· |
Rio Tinto also issued with 34,549,598 options to increase its shareholding by an additional 4.99% to potentially 19.99% of Sovereign within 12 months |
|
· |
Rio Tinto’s 34.5 million options have an exercise price of A$0.535 per Share, representing a 21% premium to the 45-day volume weighted average price on the ASX as at close 14th July 2023, for additional proceeds of up to $18.5 million (if all options are exercised) |
Sovereign’s Chairman Ben Stoikovich commented: “This landmark agreement with Rio Tinto, one of the world’s largest and most accomplished global mining companies, is confirmation of Kasiya’s place as one of the most significant critical mineral discoveries in recent times. The experience and expertise that Rio Tinto brings will truly set Kasiya apart as a potentially globally significant supply of two critical minerals and take us all a step closer to supply chain decarbonisation and achieving net-zero. Furthermore, this is yet another step towards unlocking significant benefits from development of the Kasiya project for Malawi. We welcome Rio Tinto as a major shareholder of Sovereign and look forward to working with Rio Tinto as our strategic partner in the development of Kasiya.”
ENQUIRIES
|
Dr Julian Stephens (Perth) +61(8) 9322 6322 |
Sam Cordin (Perth) |
Sapan Ghai (London)
|
|
Nominated Adviser on AIM |
|
|
SP Angel Corporate Finance LLP |
+44 20 3470 0470 |
|
Ewan Leggat Charlie Bouverat Harry Davies-Ball |
|
|
|
|
|
Joint Brokers |
|
|
Berenberg |
+44 20 3207 7800 |
|
Matthew Armitt |
|
|
Jennifer Lee |
|
|
|
|
|
Optiva Securities |
+44 20 3137 1902 |
|
Daniel Ingram |
|
|
Mariela Jaho |
|
|
Christian Dennis |
|
|
|
|
|
Tavistock PR |
+44 20 7920 3150 |