12 July 2023
Capital Metals plc
("Capital Metals" or the "Company")
Result of General Meeting
Capital Metals (AIM: CMET), a mineral sands company approaching mine development stage at the high-grade Eastern Minerals Project in Sri Lanka (the "Project"), announces that at the General Meeting ("GM") held earlier today all the resolutions put to the meeting were duly approved by shareholders.
The numbers of votes for each resolution are presented below:
| | Ordinary Resolution | For | Against | Withheld |
| 1. | To authorise the directors to allot and issue ordinary shares and grant rights to subscribe for shares up to an aggregate nominal value of £240,000 (equating to 120,000,000 shares). | 44,538,711 | 113,437 | Nil |
| | Special Resolution | | | |
| 2. | To authorise the directors to issue equity securities wholly for cash on a non-pre-emptive basis pursuant to the authority conferred by resolution number 1 above. | 44,542,148 | 110,000 | Nil |
Notes:
1. The "For" Proxy vote includes those giving the Chair of the GM discretion
2. A vote "Withheld" is not a vote in law and is not included in the proxy votes "For" or "Against" the resolution
Issue of Warrants
As notified on 20 June 2023, and following the passing of resolutions at the GM, warrants to subscribe for 2,500,000 shares will be issued to the Company's broker, Tavira Financial, pursuant to its engagement terms.
For further information, please visit www.capitalmetals.com or contact:
| Capital Metals plc Greg Martyr (Chairman) | Via Vigo Consulting |
| Vigo Consulting (Investor Relations) Ben Simons / Peter Jacob | +44 (0)20 7390 0234 |
| SPARK Advisory Partners (Nominated Adviser) Neil Baldwin / James Keeshan | +44 (0)20 3368 3554 |
| Tavira Financial Jonathan Evans / Oliver Stansfield | +44 (0)20 7100 5100 |
About Capital Metals
Capital Metals plc is a British company listed on the London Stock Exchange and one of only a few foreign investors in Sri Lanka's mining industry. After investing US$11 million in exploration and development activities including detailed environmental assessments between 2017 and 2022, the Company's Sri Lankan subsidiary, Damsila Exports (Pvt) Limited, was issued an initial two licences in August 2022 to mine heavy mineral sands in the Eastern Province, containing industrial minerals including ilmenite, rutile, zircon, and garnet.
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