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.
27 March 2024
Technology Minerals Plc
("Technology Minerals" or the "Company")
Holding(s) in Company
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 CLG Capital LLC, on 25 March 2024, of the following notifiable transactions under Disclosure & Transparency Rule 5 ("DTR 5"), as detailed below.
The holdings of CLG Capital LLC ("CLG") relate to Ordinary shares of the Company held as security in respect of a margin loan agreement ("the loan agreement") between CLG and Century Cobalt Limited ("CCL"), as previously announced on 23 November 2023. Proceeds of the loan agreement were lent by CCL to the Company's 48.35% held associate, Recyclus Group.
CCL and the Company were notified of the details of the transactions by CLG on 25 March 2024, such transactions representing the sale of collateral shares under the margin loan agreement. As a result of these transactions, the number of collateral shares held by CLG has reduced from 181,405,895 to 137,030,895. Proceeds received by CLG from the sale of these collateral shares have correspondingly reduced the outstanding loan owed to CLG by CCL and from Recyclus Group to CCL.
The aggregate interest of CCL in the Ordinary shares (including voting rights) of the Company as at 1 November 2023 and announced on 23 November 2023, was as follows:
| | Direct | Indirect(1) | Total | % |
| Century Cobalt Limited | 195,340,318 | 226,405,895 | 421,746,213 | 27.86 |
(1) indirect holding comprised 181,405,895 Ordinary shares held by CLG and 45,000,000 Ordinary shares then held by Macquarie Group Limited.
Following the transactions by CLG, CCL retains voting rights over the 137,030,895 Ordinary shares used as security which are required under the terms of the Margin Loan Facility between CCL and CLG to 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.
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
CLG Capital LLC
City of registered office (if applicable)
George Town
Country of registered office (if applicable)
Cayman Islands
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
(1) 27 February 2024
(2) 11 March 2024
(3) 18 March 2024
6. Date on which Issuer notified
25 March 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 | 8.9868 | 0.00 | 8.9868 | 137,030,895 |
| Position of previous notification (if applicable) | 11.984 | 0.00 | 11.984 | 181,405,895 |
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 | 137,030,895 | | 8.9868% | |
| Sub Total 8.A | 137,030,895 | 8.9868% | ||
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 |
| Charles Ofori | CLG Capital LLC | 8.9868% | 0.00 | 8.9868% |
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
21-Mar-2024
13. Place Of Completion
London
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
(1) 23 February 2024
(2) 8 March 2024
(3) 15 March 2024
6. Date on which Issuer notified
26 March 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 | 24.89% | | 24.89% | 379,546,213 |
| Position of previous notification (if applicable) | 27.86% | | 27.86% | 421,746,213 |
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 | 240,340,318 | 139,205,895 | 15.76% | 9.13% |
| Sub Total 8.A | 379,546,213 | 379,546,213 | ||
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. | Century Cobalt Limited | 24.89% | 0.00 | 24.89% |
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
Century Cobalt Limited first became of the details of the transactions following the DTR 5 disclosure by CLG to Technology Minerals Plc.
12. Date of Completion
26-Mar-2024
13. Place Of Completion
London
Enquiries
| Technology Minerals Plc |
| |
| Robin Brundle, Executive Chairman Alexander Stanbury, Chief Executive Officer
| +44 (0)20 4582 3500 | |
| Oberon Investments Limited (Broker) |
| |
| Nick Lovering, Adam Pollock
| +44 (0)20 3179 5300
| |
| Gracechurch Group (Financial PR) |
| |
| 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.
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