Technology Minerals PLC Holding(s) in Company

RNS Number : 3588J

Technology Minerals PLC

04 April 2024

 

The information contained within this announcement is deemed to constitute inside information as stipulated under the retained EU law version of the Market Abuse Regulation (EU) No. 596/2014 (the "UK MAR") which is part of UK law by virtue of the European Union (Withdrawal) Act 2018. The information is disclosed in accordance with the Company's obligations under Article 17 of the UK MAR. Upon the publication of this announcement, this inside information is now considered to be in the public domain. 

 

4 April 2024

 

Technology Minerals Plc

("Technology Minerals" or the "Company")

 

Director/PDMR Shareholding

Repayment of Outstanding Balance of CLG Loan

 

Technology Minerals Plc (LSE: TM1), the first listed UK company focused on creating a sustainable circular economy for battery metals, announces that it was notified by Century Cobalt Limited ("CCL") on 3 April 2024, of the following notifiable transactions under Disclosure & Transparency Rule 5 ("DTR 5").

 

CCL is a wholly-owned subsidiary of Century Cobalt Corp ("CCC"). Alexander Stanbury, a Director of the Company, holds 23.47% of the common stock of CCC and Lester Kemp, a Director of the Company, holds 0.77% of the common stock of CCC. Consequently, the trade is also reported under Market Abuse Regulation Article 19.

 

The sale of shares by CCL was undertaken to meet its obligations under a margin loan agreement between CCL and CLG Capital LLC (the "loan agreement"), which was announced by Technology Minerals on 27 March 2024.

 

CCL has disposed of 20,000,000 Ordinary shares of Technology Minerals Plc at a price of 0.92p per share, raising gross proceeds of £184,000, which will be used to repay the outstanding balance of the loan agreement. Upon repayment of the loan balance, 137,030,895 Ordinary shares in the Company currently held by CLG are to be returned to CCL's direct holding.

 

Following the transaction, CCL retains total voting rights of 357,371,213 shares in Technology Minerals Plc.

 

 

 

TR-1: Standard form for notification of major holdings

1. Issuer Details

ISIN

GB00BP094P47

Issuer Name

TECHNOLOGY MINERALS PLC

UK or Non-UK Issuer

UK

2. Reason for Notification

An acquisition or disposal of voting rights

3. Details of person subject to the notification obligation

Name

Century Cobalt Limited

City of registered office (if applicable)

London

Country of registered office (if applicable)

United Kingdom

4. Details of the shareholder

Full name of shareholder(s) if different from the person(s) subject to the notification obligation, above

 

City of registered office (if applicable)

 

Country of registered office (if applicable)

 

5. Date on which the threshold was crossed or reached

27 March 2024

6. Date on which Issuer notified

3 April 2024

7. Total positions of person(s) subject to the notification obligation

	% of voting rights attached to shares (total of 8.A)	% of voting rights through financial instruments (total of 8.B 1 + 8.B 2)	Total of both in % (8.A + 8.B)	Total number of voting rights held in issuer
Resulting situation on the date on which threshold was crossed or reached	23.44	0.00	23.44	357,371,213
Position of previous notification (if applicable)	24.89	0.00	24.89	379,546,213

8. Notified details of the resulting situation on the date on which the threshold was crossed or reached

8A. Voting rights attached to shares

Class/Type of shares ISIN code(if possible)	Number of direct voting rights (DTR5.1)	Number of indirect voting rights (DTR5.2.1)	% of direct voting rights (DTR5.1)	% of indirect voting rights (DTR5.2.1)
GB00BP094P47	220,340,318	137,030,895	14.45	8.99
Sub Total 8.A	357,371,213		23.44

8B1. Financial Instruments according to (DTR5.3.1R.(1) (a))

Type of financial instrument	Expiration date	Exercise/conversion period	Number of voting rights that may be acquired if the instrument is exercised/converted	% of voting rights
Sub Total 8.B1

8B2. Financial Instruments with similar economic effect according to (DTR5.3.1R.(1) (b))

Type of financial instrument	Expiration date	Exercise/conversion period	Physical or cash settlement	Number of voting rights	% of voting rights
Sub Total 8.B2

9. Information in relation to the person subject to the notification obligation

2. Full chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held starting with the ultimate controlling natural person or legal entities (please add additional rows as necessary)

Ultimate controlling person	Name of controlled undertaking	% of voting rights if it equals or is higher than the notifiable threshold	% of voting rights through financial instruments if it equals or is higher than the notifiable threshold	Total of both if it equals or is higher than the notifiable threshold
Century Cobalt Corp.		23.44	0.00	23.44

10. In case of proxy voting

Name of the proxy holder

 

The number and % of voting rights held

 

The date until which the voting rights will be held

 

11. Additional Information

 

12. Date of Completion

3-Apr-2024

13. Place Of Completion

London

 

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Names	Alexander Stanbury & Lester Kemp
2	Reason for the notification
a)	Position/status	Alexander Stanbury and Lester Kemp are each directors of Technology Minerals plc.   Alexander Stanbury is a director of Century Cobalt Limited ("CCL") and beneficial owner of 23.47% of the common stock of Century Cobalt Corp ("CCC"), which is the beneficial owner of 100% of the issued share capital of CCL.   Lester Kemp holds 0.77% of the common stock of CCC.
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Technology Minerals plc
b)	LEI	2138001U1U2XY5UYA479
4	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
a)	Description of the financial instrument, type of instrument Identification code	Ordinary shares of £0.001 par value each ISIN: GB00BP094P47
b)	Nature of the transaction	Sale of shares held by Century Cobalt Limited.
c)	Price(s) and volume(s)
			Price	Volume(s)
			0.92p	20,000,000
d)	Aggregated information	Weighted average price - 0.92p Aggregated Volume - 20,000,000
e)	Dates of the transaction	27 March 2024
f)	Place of the transactions	London Stock Exchange

 

 

Enquiries

Technology Minerals Plc
Robin Brundle, Executive Chairman Alexander Stanbury, Chief Executive Officer	[phone]
Oberon Investments Limited (Broker)
Nick Lovering, Adam Pollock	[phone]
Gracechurch Group
Harry Chathli, Alexis Gore, Rebecca Scott	[phone]

 

Technology Minerals Plc 

Technology Minerals is developing the UK's first listed, sustainable circular economy for battery metals, using cutting-edge technology to recycle, recover, and re-use battery technologies for a renewable energy future. Technology Minerals is focused on raw material exploration required for Li-ion batteries, whilst solving the ecological issue of spent Li-ion batteries, by recycling them for re-use by battery manufacturers. Further information on Technology Minerals is available at  www.technologyminerals.co.uk.

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