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
| +44 (0)20 4582 3500 | |
| Oberon Investments Limited (Broker) |
| |
| Nick Lovering, Adam Pollock
| +44 (0)20 3179 5300
| |
| 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.
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