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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:
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James Knowles, Executive Chairman |
07488 362641 |
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Marc J Sale, CEO |
07711 093532 |
Novum Securities Limited (Financial Adviser)
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David Coffman/ George Duxberry |
www.novumsecurities.com |
(0)20 7399 9400 |
Axis Capital Markets (Broker)
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Lewis Jones/ Ben Tadd |
Axcap247.com |
(0) 203 026 0449 |
Power Metal Resources #POW – Total Voting Rights
Total Voting Rights
In accordance with the Financial Conduct Authority’s Disclosure and Transparency Rules, the Company hereby announces that as at 30 November 2022 there were 1,660,789,092 ordinary shares of 0.1 pence each in issue, none of which are held in treasury. Therefore, the total number of voting rights in the Company is 1,660,789,092 .
The above figure of 1,660,789,092 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 in their interest in, the share capital of the Company under the FCA’s Disclosure and Transparency Rules.
Power Metal Resources #POW – Total Voting Rights
In accordance with the Financial Conduct Authority’s Disclosure and Transparency Rules, the Company hereby announces that as at 30 September 2022 there were 1,614,654,921 ordinary shares of 0.1 pence each in issue, none of which are held in treasury. Therefore, the total number of voting rights in the Company is 1,614,654,921 .
The above figure of 1,614,654,921 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 in their interest in, the share capital of the Company under the FCA’s Disclosure and Transparency Rules.
Power Metal Resources #POW – Total Voting Rights
In accordance with the Financial Conduct Authority’s Disclosure and Transparency Rules, the Company hereby announces that as at 31 August 2022 there were 1,537,512,064 ordinary shares of 0.1 pence each in issue, none of which are held in treasury. Therefore, the total number of voting rights in the Company is 1,537,512,064 .
The above figure of 1,537,512,064 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 in their interest in, the share capital of the Company under the FCA’s Disclosure and Transparency Rules.
Kavango Resources #KAV – Total Voting Rights
Issue of Shares and PDMR Dealing
On 11 August 2021 Kavango announced its agreement with Michael Moles, a non-executive director, to settle his directors’ fees (net of statutory deductions) in shares. Accordingly, Kavango announces it is now issuing 84,701 new ordinary shares of 0.001 each in the Company to Michael Moles (“Director Shares”).
This issue of shares relates to the period 1 January 2022 to 31 March 2022. The number of shares due has been calculated at an issue price equal to the average of the closing mid-price of the Company’s shares over that quarter. During that period the average closing mid-price of the Company’s shares was 4.51 pence per share.
Admission and Total Voting Rights
Application will be made for the Director Shares to be admitted to the Standard List segment of the Official List and to trading on the main market of the London Stock Exchange plc (“Admission”). It is expected that Admission will become effective and dealings in the Director Shares will commence at 8.00am on or around 14 April 2022.
Following Admission, the total issued share capital of the Company will consist of 410,462,052 Ordinary Shares. The Company does not hold any shares in treasury. Therefore, the total number of voting rights in the Company is 410,462,052 and 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 in their interest, in the share capital of the Company.
An updated Total Voting Rights announcement will be made by the Company following admission, in accordance with the requirements of DTR 5.6.
PDMR Dealing – Issue of Director Shares
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1
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Details of the person discharging managerial responsibilities / person closely associated
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a)
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Name
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Charles Michael Moles |
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2
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Reason for the notification
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a)
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Position/status
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Non-Executive Director |
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b)
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Initial notification /Amendment
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Initial Notification |
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3
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Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
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a)
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Name
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Kavango Resources plc |
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b)
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LEI
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2138007PZJFATXWUTS29 |
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4
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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
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a)
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Description of the financial instrument, type of instrument |
Ordinary shares of 0.001 each
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Identification code |
ISIN: GB00BF0VMV24 |
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b)
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Nature of the transaction
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Issue of ordinary shares of 0.001 each |
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c)
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Price(s) and volume(s) |
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Price(s) |
Volume(s) |
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£0.0451 |
84,701 |
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d)
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Aggregated information |
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– Aggregated volume |
N/A |
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– Price |
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e)
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Date of the transaction
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2022-04-07 |
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f)
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Place of the transaction
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Outside a Trading Venue |
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Kavango Resources #KAV – Total Voting Rights
In accordance with DTR 5.6.1 of the Financial Conduct Authority’s Disclosure Guidance and Transparency Rules (“DTRs”), the total number of ordinary shares of £0.001 each in the capital of the Company in issue as at the date of this notice is 410,377,351 with each share carrying the right to one vote.
The Company does not hold any shares in treasury. Therefore, the number of ordinary shares with voting rights is 410,377,351.
The above figure may be used by shareholders 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 Company, under the DTRs.
Power Metal Resources #POW – Total Voting Rights
In accordance with the Financial Conduct Authority’s Disclosure and Transparency Rules, the Company hereby announces that as at 28 February 2022 there are 1,466,953,915 ordinary shares of 0.1 pence each in issue, none of which are held in treasury. Therefore, the total number of voting rights in the Company is 1,466,953,915 .
The above figure of 1,466,953,915 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 in their interest in, the share capital of the Company under the FCA’s Disclosure and Transparency Rules.
Power Metal Resources #POW – Total Voting Rights
In accordance with the Financial Conduct Authority’s Disclosure and Transparency Rules, the Company hereby announces that as at 31 January 2022 there are 1,448,339,986 ordinary shares of 0.1 pence each in issue, none of which are held in treasury. Therefore, the total number of voting rights in the Company is 1,448,339,986 .
The above figure of 1,448,339,986 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 in their interest in, the share capital of the Company under the FCA’s Disclosure and Transparency Rules.
Ananda Developments Plc (ANA) – Total Voting Rights
TOTAL VOTING RIGHTS
In accordance with the Financial Conduct Authority’s Disclosure and Transparency Rules, Ananda announces that the Company has 793,872,220 ordinary shares of 0.2p each in issue (“Ordinary Shares”), each share carrying the right to one vote.
This figure of 793,872,220 Ordinary Shares 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 and Transparency Rules.
-Ends-
The Directors of the Company accept responsibility for the contents of this announcement.
| ANANDA DEVELOPMENTS PLC Chief Executive Officer Melissa Sturgess Investor Relations |
+44 (0)7463 686 497 ir@anandadevelopments.com |
| PETERHOUSE CAPITAL LIMITED Corporate Finance Mark Anwyl Allie Feuerlein Corporate Broking |
+44 (0)20 7469 0930 |
Market Abuse Regulation (MAR) Disclosure
The information contained within this announcement is deemed by the Company to constitute inside information. Upon the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.
Power Metal Resources plc #POW – Total Voting Rights
Total Voting Rights
In accordance with the Financial Conduct Authority’s Disclosure and Transparency Rules, the Company hereby announces that as at 31 May 2021 there were 1,146,767,211 ordinary shares of 0.1 pence each in issue, none of which were held in treasury. Therefore, the total number of voting rights in the Company was 1,146,767,211.
The above figure of 1,146,767,211 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 in their interest in, the share capital of the Company under the FCA’s Disclosure and Transparency Rules.
For further information please visit https://www.powermetalresources.com/ or contact:
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Power Metal Resources plc |
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Paul Johnson (Chief Executive Officer) |
+44 (0) 7766 465 617 |
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SP Angel Corporate Finance (Nomad and Joint Broker) |
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Ewan Leggat/Charlie Bouverat |
+44 (0) 20 3470 0470 |
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SI Capital Limited (Joint Broker) |
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Nick Emerson |
+44 (0) 1483 413 500 |
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First Equity Limited (Joint Broker) |
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David Cockbill/Jason Robertson |
+44 (0) 20 7330 1883 |