Tungsten West PLC Exercise of Options
20 May 2024 - 4:00PM
RNS Regulatory News
RNS Number : 9850O
Tungsten West PLC
20 May 2024
20 May 2024
Tungsten West
Plc
("Tungsten West", the
"Company" or the "Group")
Exercise of
Options
Tungsten West (LON:TUN), the mining
company focused on restarting production at the Hemerdon tungsten
and tin mine ("Hemerdon" or the "Project") in Devon, UK, announces
it has received a notice of exercise in respect of founder options
over 1,657,196 new ordinary shares of £0.01 each in the capital of
the Company ("Ordinary Shares") (the "Founder Option Exercise").
The Founder Option Exercise will provide £16,572 of additional
funding to the Company, which will be used for general working
capital purposes.
The founder options were granted in
October 2021, and exercisable upon certain milestones being
achieved. The Founder Option Exercise is pursuant to the admission
of the entire issued share capital of the Company to trading on
AIM. The founder options are set out in full in the admission
document dated 15 October 2021.
The 1,657,196 new Ordinary Shares to
be issued to pursuant to the Founder Option Exercise will rank
pari passu with the
existing Ordinary Shares and application will be made for the new
Ordinary Shares to be admitted to trading on AIM ("Admission"). It
is expected that Admission will become effective and dealings in
the new Ordinary Shares will commence at 8.00 a.m. on or around 22
May 2024.
Total Voting Rights
Upon Admission, the Company's issued
ordinary share capital will consist of 188,731,307 Ordinary Shares
with one voting right each. The Company does not hold any Ordinary
Shares in treasury, therefore the total number of Ordinary Shares
and voting rights in the Company on Admission will be 188,731,307.
With effect from Admission, this figure may be used by shareholders
in the Company as the denominator for the calculations by which
they will determine if they are required to notify their interest
in, or a change to their interest in, the share capital of the
Company under the FCA's Disclosure Guidance and Transparency
Rules.
Ends
For
further information, please contact:
Enquiries
|
Tungsten West
Neil Gawthorpe
Tel: +44 (0) 1752 278500
|
Strand Hanson
(Nominated Adviser and Financial
Adviser)
James Spinney / James Dance /
Abigail Wennington
Tel: +44 (0) 207 409 3494
|
|
BlytheRay
(Financial PR)
Tim Blythe / Megan Ray
Tel: +44(0) 20 7138 3204
Email: tungstenwest@blytheray.com
Hannam & Partners
(Broker)
Andrew Chubb / Matt Hasson / Jay
Ashfield
Tel: +44 (0)20 7907 8500
|
|
Follow us on X @TungstenWest
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