1 July 2024
Metals One Plc
("Metals One" or the
"Company")
Notice of Annual General
Meeting
&
Notification of Capital
Reorganisation
Metals
One (AIM: MET1),
which is advancing strategic metals projects in Finland and Norway,
has posted a notice of Annual General Meeting ("AGM") to be
convened on 22 July 2024 at 11.00 a.m. (the "Notice").
The Notice is available to view on the Company's
website at www.metals-one.com.
In addition to the customary resolutions to be
proposed at the AGM, the Notice includes a resolution for a Capital
Reorganisation. The purpose of the Capital Reorganisation is to
reduce the nominal value of the Company's existing Ordinary
Shares.
Capital
Reorganisation
The Company currently has 330,217,500 Ordinary
Shares of £0.01 each in issue ("Existing Ordinary Shares"). The
proposal is that each Existing Ordinary Share is to be subdivided
into 1 New Ordinary Share of £0.001 and 1 Deferred Share of £0.009.
The Deferred Shares will have no right to vote or participate in
the capital of the Company and the Company will not issue any
certificates or credit CREST accounts in respect of them. The
Deferred Shares will not be admitted to trading on any exchange.
The rights of the New Ordinary Shares and the Deferred Shares will
be set out in the new articles of association proposed to be
adopted by the Company. Existing share certificates will remain
valid instruments of title - no replacement share certificates will
be issued following the Capital Reorganisation. This Capital
Reorganisation will not affect the trading price of the Company's
Ordinary Shares nor the number of Ordinary Shares in
issue.
Background to
the Capital Reorganisation
The current nominal value of the Company's
Existing Ordinary Shares is £0.01. In order to give the Company
greater flexibility, as shares cannot be issued at a price which is
lower than their nominal value, the Board proposes to carry out a
subdivision and reclassification of the existing Ordinary
Shares.
Expected
timetable of events
|
Event
|
Expected time and date
|
|
Time and Date of Annual General
Meeting
|
11.00 a.m. on 22 July
2024
|
|
Record date for Capital
Reorganisation
|
6.00 p.m. on 22 July
2024
|
|
Latest time and date for dealing in Existing
Ordinary Shares
|
6.00 p.m. on 22 July
2024
|
|
Expected date of admission of New Ordinary
Shares to AIM
|
23 July
2024
|
|
Expected date CREST accounts are to be credited
with New Ordinary Shares in uncertificated form
|
23 July 2024
|
Share information
|
Number of Existing Ordinary Shares in issue at
the Last Practicable Date
|
330,217,500
|
|
Total expected number of New Ordinary Shares in
issue following the Capital Reorganisation
|
330,217,500
|
|
Total expected number of Deferred Shares in
issue following the Capital Reorganisation
|
330,217,500
|
Enquiries:
|
Metals One
Plc
Jonathan Owen, Chief Executive
Officer
|
via Vigo Consulting
+44 (0)20 7390 0234
|
|
|
|
|
Beaumont
Cornish Limited (Nominated Adviser)
James Biddle / Roland Cornish
www.beaumontcornish.com
|
+44 (0)20 7628 3396
|
|
|
|
|
Shard Capital
Partners LLP (Joint Broker)
Damon Heath / Erik Woolgar
|
+44 (0)20 7186 9952
|
|
|
|
|
SI Capital
Limited (Joint Broker)
Nick Emerson
|
+44 (0)14 8341 3500
|
|
|
|
|
Capital Plus
Partners Limited (Joint Broker)
Keith Swann
https://www.capplus.co.uk/
|
+44 (0)20 3821 6169
|
|
|
|
|
Vigo
Consulting (Investor Relations)
Ben Simons / Kendall Hill
metalsone@vigoconsulting.com
|
+44 (0)20 7390 0234
|
About Metals
One
Metals One is developing strategic metals
projects in Finland (Black Schist Project) and Norway (SRH Råna
Project), with approximately £9 million of exploration carry
exposure through a farm-in agreement. Metals One is aiming to help
meet the significant demand for critical minerals by defining
resources on the doorstep of Europe's major electric vehicle OEMs
and battery manufacturers. Metals One's Black Schist Project in
Finland, totalling 706 km2 across three licence areas,
has an Inferred Resource of 28.1 Mt nickel-copper-cobalt-zinc and
is located adjacent to one of Europe's largest nickel mines
operated by Terrafame. Metals One's fully carried SRH Råna Project
in Norway covers 18.14 km² across three contiguous exploration
licences, with significant opportunity for exploration of the Råna
Intrusion, and proven potential for massive sulphide
nickel-cobalt-copper mineralisation.
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LinkedIn: https://www.linkedin.com/company/metals-one-plc/
X (Twitter): https://twitter.com/metals_one_PLC
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at: www.metals-one.com
Market Abuse
Regulation (MAR) Disclosure
The information set out below is provided in
accordance with the requirements of Article 19(3) of the Market
Abuse Regulations (EU) No. 596/2014 which forms part of UK domestic
law by virtue of the European Union (Withdrawal) Act 2018
('MAR').
Nominated
Adviser
Beaumont Cornish Limited ("Beaumont Cornish")
is the Company's Nominated Adviser and is authorised and regulated
by the FCA. Beaumont Cornish's responsibilities as the Company's
Nominated Adviser, including a responsibility to advise and guide
the Company on its responsibilities under the AIM Rules for
Companies and AIM Rules for Nominated Advisers, are owed solely to
the London Stock Exchange. Beaumont Cornish is not acting for and
will not be responsible to any other persons for providing
protections afforded to customers of Beaumont Cornish nor for
advising them in relation to the proposed arrangements described in
this announcement or any matter referred to in it.