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.
7 November 2023
Technology Minerals Plc
("Technology Minerals" or the "Company")
Holdings in the Company and Director/PDMR Shareholding
Technology Minerals Plc (LSE: TM1), the first listed UK company focused on creating a sustainable circular economy for battery metals, announces it has been notified of a Margin Loan Facility agreement from CLG Capital LLC ("CLG") to Century Cobalt Limited ("CCL") for up to £1.0 million ("the Facility"). Recyclus Group Ltd ("Recyclus"), Technology Minerals' 48.35% owned battery recycling business, will borrow funds from CCL from time to time to meet Recyclus' working capital requirements.
Loan amounts drawn from CCL by Recyclus under the Facility, which are repayable to CLG after 12 months and which bear interest at the Bank of England base rate plus 10%, are reimbursable to CCL by Recyclus under similar terms. The security on the loan is provided in the form of a charge over shares held by CCL in Technology Minerals. Therefore, 181,405,895 ordinary shares (representing 11.98% of the total issued share capital of the Company) have been transferred from CCL to CLG.
As a result, CCL now holds 212,840,318 Ordinary shares, which comprises 14.06% of the Company's issued share capital. In addition, CLG now holds 181,405,895 Ordinary shares, which comprises 11.98% of the Company's issued share capital. CCL retains voting rights over the 181,405,895 ordinary shares used as security which will be returned to CCL on repayment of the Facility by CCL.
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.
CLG Capital specialises in structured transactions to high growth companies providing patient capital for the companies it invests in.
Enquiries:
| Technology Minerals Plc |
|
| Robin Brundle, Executive Chairman Alexander Stanbury, Chief Executive Officer
| +44 (0)20 4582 3500 |
| Oberon Investments Limited |
|
| Nick Lovering, Adam Pollock
| +44 (0)20 3179 0535 |
| Gracechurch Group |
|
| Harry Chathli, Alexis Gore, Rebecca Scott | +44 (0)20 4582 3500 |
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.
TR-1: standard form for notification of major holdings
| NOTIFICATION OF MAJOR HOLDINGS (to be sent to the relevant issuer and to the FCA in Microsoft Word format if possible) | ||||||
| | ||||||
| 1a. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached: | Technology Minerals Plc (the 'Company') | |||||
| 1b. Please indicate if the issuer is a non-UK issuer (please mark with an "X" if appropriate) | ||||||
| Non-UK issuer | | |||||
| 2. Reason for the notification (please mark the appropriate box or boxes with an "X") | ||||||
| An acquisition or disposal of voting rights | X | |||||
| An acquisition or disposal of financial instruments | | |||||
| An event changing the breakdown of voting rights | | |||||
| Other (please specify): | | |||||
| 3. Details of person subject to the notification obligation | ||||||
| Name | Century Cobalt Limited | |||||
| City and country of registered office (if applicable) | London, United Kingdom | |||||
| 4. Full name of shareholder(s) (if different from 3.) | ||||||
| Name | | |||||
| City and country of registered office (if applicable) | | |||||
| 5. Date on which the threshold was crossed or reached: | 1 November 2023 | |||||
| 6. Date on which issuer notified (DD/MM/YYYY): | 6 November 2023 | |||||
| 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 both in % (8.A + 8.B) | Total number of voting rights held in issuer (8.A + 8.B) | ||
| Resulting situation on the date on which threshold was crossed or reached | 26.045% | 0.00 | 26.045% | 394,246,213 | ||
| Position of previous notification (if applicable) | 27.96% | 0.00 | 27.96% | 423,246,213 | ||
| 8. Notified details of the resulting situation on the date on which the threshold was crossed or reached | |||||||||
| A: Voting rights attached to shares | |||||||||
| Class/type of ISIN code (if possible) | Number of voting rights | % of voting rights | |||||||
| Direct (DTR5.1) | Indirect (DTR5.2.1) | Direct (DTR5.1) | Indirect (DTR5.2.1) | ||||||
| GB00BP094P47 | 212,840,318 | 181,405,895 | 14.061% | 11.984% | |||||
| | | | | | |||||
| | | | | | |||||
| SUBTOTAL 8. A | 394,246,213 | 26.045% | |||||||
| | |||||||||
| B 1: Financial Instruments according to DTR5.3.1R (1) (a) | |||||||||
| Type of financial instrument | Expiration | Exercise/ | Number of voting rights that may be acquired if the instrument is exercised/converted. | % of voting rights | |||||
| | | | | | |||||
| | | | | | |||||
| | | | | | |||||
| | | SUBTOTAL 8. B 1 | | | |||||
| | |||||||||
| B 2: Financial Instruments with similar economic effect according to DTR5.3.1R (1) (b) | |||||||||
| Type of financial instrument | Expiration | Exercise/ | Physical or cash Settlement | Number of voting rights | % of voting rights | ||||
| | | | | | | ||||
| | | | | | | ||||
| | | | | | | ||||
| | |
| SUBTOTAL 8.B.2 | | | ||||
| | |||||||||
| 9. Information in relation to the person subject to the notification obligation (please mark the applicable box with an "X") | ||||
| Person subject to the notification obligation is not controlled by any natural person or legal entity and does not control any other undertaking(s) holding directly or indirectly an interest in the (underlying) issuer | | |||
| Full chain of controlled undertakings through which the voting rights and/or the | X | |||
| Name | % 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. | 100% | | 100% | |
| | | | | |
| | | | | |
| | | | | |
| | | | | |
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| 10. In case of proxy voting, please identify: | ||||
| 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 | ||||
| Alexander Stanbury, a director of the Company, holds 23.47% of the common stock of Century Cobalt Corp ('CCC'). Lester Kemp, a director of the Company, holds 0.77% of the common stock of CCC. CCC holds 100% of the issued shares of Century Cobalt Limited. | ||||
| Place of completion | London |
| Date of completion | 6.11.2023 |
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