Technology Minerals PLC Holdings in Company & Director/PDMR Shareholding (6846S)
08 November 2023 - 2:23AM
UK Regulatory
TIDMTM1
RNS Number : 6846S
Technology Minerals PLC
07 November 2023
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 GBP1.0 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 Technology Minerals Plc (the 'Company')
underlying issuer of existing shares
to which voting rights are attached:
-----------------------------------------------
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 London, United Kingdom
(if applicable)
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 1 November 2023
crossed or reached:
-----------------------------------------------
6. Date on which issuer notified 6 November 2023
(DD/MM/YYYY):
-----------------------------------------------
7. Total positions of person(s) subject to the notification obligation
% of voting % of voting rights Total of both Total number
rights attached through financial in % (8.A + of voting rights
to shares (total instruments 8.B) held in issuer
of 8. A) (total of 8.B (8.A + 8.B)
1 + 8.B 2)
------------------ ---------------------- ---------------- --------------------
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
shares
ISIN code (if
possible) Number of voting rights % of voting rights
Direct Indirect Direct Indirect
(DTR5.1) (DTR5.2.1) (DTR5.1) (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 Expiration Exercise/ Number of voting % of voting
instrument date Conversion Period rights that may rights
be acquired if
the instrument
is
exercised/converted.
----------- ------------------------- -------------------------- ----------------
SUBTOTAL 8. B
1
------------------------- -------------------------- ----------------
B 2: Financial Instruments with similar economic effect according to
DTR5.3.1R (1) (b)
Type of financial Expiration Exercise/ Physical Number of % of voting
instrument date Conversion or cash voting rights rights
Period Settlement
---------------- ---------------- ----------------- ----------------
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 X
and/or the
financial instruments are effectively held starting with the ultimate
controlling natural person or legal entity (please add additional
rows as necessary)
Name % of voting rights % of voting rights Total of both if
if it equals or through financial it equals or is
is higher than the instruments if it higher than the
notifiable threshold equals or is higher notifiable threshold
than the notifiable
threshold
---------------------- --------------------- ------------------------
Century Cobalt Corp. 100% 100%
---------------------- --------------------- ------------------------
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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END
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