3 May 2024
Future Metals
NL
Proposed Options Entitlement
Offer
Highlights
§ Proposed Entitlement Offer of
one (1) new 3-year option exercisable at 6 cents ("New Option"), at
an issue price of 0.025 cents each, for each existing 10 cents ASX
listed option (ASX:FMEO) held at the record date
§ Allows eligible FMEO option
holders to continue to participate in the ongoing development of
the Company
Future Metals NL ("Future Metals" or the "Company", ASX | AIM:
FME), is pleased to announce that it
intends to offer eligible holders of existing FMEO ASX listed
options ("FMEO") a
non-renounceable Entitlement Offer to subscribe for 1 New Option
for every 1 FMEO Option held at an issue price of 0.025 cents per
New Option, raising a nominal A$40,000 (before costs)
("Entitlement
Offer").
The existing Listed Options have an
exercise price of A$0.10 each and are scheduled to expire on 11
June 2024. Each New Option will be exercisable at a price of A$0.06
per share and expire 3 years from their date of issue. The Company
intends to seek shareholder approval at its upcoming general
meeting to be held in June 2024, formal notice of which will be
sent in due course ("General
Meeting").
The Company intends to apply for the
quotation solely on the ASX of the New Options to be issued under
the Entitlement Offer. The New Options will therefore not be
admitted to trading on AIM.
The Company will issue a prospectus
("Prospectus") in relation
to the issue of the New Options before shareholder approval is
sought at the upcoming General Meeting.
Eligible option holders should
consider the Prospectus in deciding whether or not to acquire
securities under the Entitlement Offer and will need to complete
their personalised entitlement and acceptance form that will
accompany the Prospectus.
The Company advises that, subject to
shareholder approval, the eligible Directors intend to take up any
entitlements available to them under the Entitlement
Offer.
Planned Underwriting
The Company has engaged CPS Capital
Group Pty Ltd ("CPS") to
act as underwriter for the full Entitlement Offer ("Underwritten Amount"), being 100% of
the funds to be raised under the Entitlement Offer based on the
number of FMEO Options on issue at the date of the
Prospectus.
Pursuant to the Underwriting
Agreement with CPS, the Company has agreed to pay CPS a 6% fee on
the gross proceeds raised under the Entitlement Offer.
*All amounts are in Australian
currency unless otherwise indicated.
This announcement has been approved for release by the Board
of Future Metals NL.
For
further information, please contact:
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Future Metals NL
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+61 8 9480 0414
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Patrick Walta
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info@future-metals.com.au
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Strand Hanson Limited (Nominated Adviser and UK Broker)
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+44 (0) 20 7409 3494
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James Bellman/Rob Patrick
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The information contained within this announcement is deemed
by the Company to constitute inside information as stipulated under
the Market Abuse Regulation (EU) No. 596/2014 as is forms part of
United Kingdom domestic law pursuant to the European Union
(Withdrawal) Act 2018, as amended by virtue of the Maret Abuse
(Amendment) (EU Exit) Regulations 2019.
NOT
AN OFFER
This announcement is for information
purposes only and is not a prospectus, product disclosure statement
or any other offering document under Australian law or the law of
any other jurisdiction (and will not be lodged with the Australian
Securities and Investments Commission ("ASIC") or any foreign
regulator). The information does not and will not constitute or
form part of an offer, invitation, solicitation or recommendation
in relation to the subscription, purchase or sale of securities in
any jurisdiction and neither this announcement nor anything in it
shall form any part of any contract for the acquisition of Future
Metals securities. The distribution of this announcement in
jurisdictions outside Australia may be restricted by law and you
should observe any such restrictions.
NOT
FOR RELEASE OR DISTRIBUTION IN THE UNITED STATES OF
AMERICA
This announcement has been prepared
for publication in Australia and may not be released to US wire
services or distributed in the United States. This announcement
does not constitute an offer to sell, or a solicitation of an offer
to buy, securities in the United States or any other jurisdiction.
Any securities described in this announcement have not been, and
will not be, registered under the US Securities Act of 1933 ("US
Securities Act") and may not be offered or sold in the United
States except in transactions exempt from, or not subject to,
registration under the US Securities Act and applicable US state
securities laws.