TIDMTM1
RNS Number : 4502U
Technology Minerals PLC
23 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.
Replacement: The following amendments have been made to the
'Holdings in the Company and Director/PDMR Shareholding'
announcement released on 7 November 2023 at 15:23 under RNS No
6846S. Following an administrative error having been identified,
the Company clarifies the aggregate interest of Century Cobalt
Limited ("CCL") in the Ordinary shares (including voting rights) of
the Company as at 1 November 2023 had been understated in the
announcement on 7 November 2023 by 27,500,000 Ordinary shares, was
as follows:
Direct Indirect Total %
Century Cobalt
Limited 195,340,318 226,405,895 421,746,213 27.86
------------ ------------ ------------ ------
The TR-1 below has been corrected accordingly. The TR-1
notification announced on 5 October 2023, was triggered by the
transaction on 19 September 2023 (as previously disclosed), which
caused CCL's percentage interest in the Ordinary shares of the
Company to cross the 28% threshold. As previously disclosed on 5
October 2023, two further disposals totalling 1,500,000 Ordinary
shares were made on 27 and 28 September 2023. As these transactions
did not cause a further percentage threshold to be crossed, they
were disclosed as a change in PDMR interests only, and not
reflected in the form TR-1 dated 5 October 2023.
The full amended text is shown below.
23 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, the aggregate interest of CCL in the Ordinary
shares (including voting rights) of the Company as at 1 November
2023, was as follows:
Direct Indirect Total %
Century Cobalt
Limited 195,340,318 226,405,895 421,746,213 27.86
------------ ------------ ------------ ------
CCL retains voting rights over the 181,405,895 Ordinary shares
used as security (which is included in the total amount stated
above) 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 Technology Minerals Plc (the 'Company')
the 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 London, United Kingdom
office (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 1 November 2023
was 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 Total of both Total number of
rights attached rights through in % (8.A + voting rights
to shares (total financial 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 27.86% 0.00% 27.86% 421,746,213
----------------------- ----------------------- ----------------- ----------------
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 195,340,318 226,405,895 12.90% 14.96%
---------------------- ------------ ---------------------------- ---------------
SUBTOTAL 8.
A 421,746,213 27.86%
------------------------------------ ---------------------------------------------
B 1: Financial Instruments according to DTR5.3.1R (1) (a)
Type of financial Expiration Exercise/ Number of voting % of voting
instrument date Conversion rights that may rights
Period 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 voting
instrument date Conversion or cash of voting rights
Period Settlement 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 X
rights 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 instruments if higher than the
the notifiable it equals or is notifiable threshold
threshold higher 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 (corrected 23 November 2023)
---------------------------------------
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END
MSCDZMZMKFDGFZG
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