Fulcrum
Metals plc / EPIC: FMET / Market: AIM / Sector: Mining
31 October 2024
Fulcrum Metals
plc
("Fulcrum" or the "Company" or the "Group")
Total Voting
Rights
and
Update to IPO Concert
Party
Fulcrum Metals plc (LON: FMET), a
company focused on mineral exploration and development in
Canada, announces that the Company's issued
ordinary share capital as at the date of this announcement
comprises 61,585,943 ordinary shares of 1 pence each, 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 is 61,585,943.
The above 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.
Update to IPO Concert Party
The Company also provides an update
to the shareholder concert party established at IPO.
Under the City Code on Takeovers and
Mergers (the "Code") published by the Panel on Takeovers and
Mergers (the "Panel"), a concert party arises where persons who,
pursuant to an agreement or understanding (whether formal or
informal), co-operate to obtain or consolidate control (as defined
in the Code) of a company or to frustrate the successful outcome of
an offer for a company.
Certain persons will be presumed, as
set out in the Definitions in the Code, to be persons acting in
concert with other persons in the same category unless the contrary
is established, including shareholders in a private company who,
following the re-registration of that company as a public company
in connection with an initial public offering or otherwise, become
shareholders in a company to which the Code applies.
At the time of its IPO on 14
February 2023, the Company stated in its admission document, that
it had agreed with the Panel that a concert party (the "IPO Concert
Party") existed in the context of the Company, including founders
and certain shareholders in the Company before IPO. As at 30
October 2024, the IPO Concert Party held 26.91% of the shares in
Fulcrum, meaning the IPO Concert Party has now been diluted down
below 30% of the issued share capital of Fulcrum.
The members of the IPO Concert
Party, including their beneficial interests in ordinary shares in
the Company, are as follows:
Shareholder
|
Number of
Shares
|
% of Issued Share
Capital
|
Number of Warrants
Outstanding
|
Convertible Loan Notes
Outstanding (£)
|
Ryan Mee
|
7,673,909
|
12.46%
|
125,000
|
75,000
|
Aidan O'Hara
|
7,294,739
|
11.84%
|
125,000
|
75,000
|
Ed Slowey
|
820,441
|
1.33%
|
-
|
-
|
Mitchell Smith
|
468,823
|
0.76%
|
-
|
-
|
OnGold Invest Corp
|
312,500
|
0.51%
|
-
|
-
|
Total
|
16,570,412
|
26.91%
|
250,000
|
150,000
|
The individuals within the IPO
Concert Party can now each acquire further shares in the Company
without triggering an obligation under Rule 9 of the Code to make
an offer for the whole of its issued share capital, provided such
acquisitions do not cause the aggregate interest of the IPO Concert
Party to reach or exceed 30 per cent. of the Company's issued
ordinary shares that carry voting rights.
For further information please
visit https://fulcrummetals.com/
or contact:
Fulcrum Metals PLC
|
|
Ryan Mee (Chief Executive
Officer)
|
Via St Brides Partners
Limited
|
|
|
Allenby Capital Limited (Nominated adviser)
|
|
Nick Athanas / George
Payne
|
Tel: +44 (0)
203 328 5656
|
|
|
Clear Capital Markets Limited (Broker)
|
|
Bob Roberts
|
Tel: +44 (0)
203 869 6081
|
|
|
St
Brides Partners Ltd (Financial PR)
|
|
Ana Ribeiro / Paul Dulieu
|
Tel: +44 (0) 20 7236 1177
|
Notes to Editors
FULCRUM METALS - BACKGROUND
Fulcrum Metals PLC (LON: FMET) is an
AIM quoted exploration and development company which finances and
manages exploration projects focused on Canada, widely recognised
as a top mining jurisdiction. Fulcrum's ambition is to create
an environmentally friendly and sustainable tailings and mine waste
business, driving mining change through combining low discovery
risk assets and jurisdictions with transformative technology
capable of near-term cash flow whilst capitalising on a portfolio
of highly prospective exploration assets.