Metals One PLC Employee Benefit Trust & Issue of Equity (8227Y)
05 Janvier 2024 - 1:00PM
UK Regulatory
TIDMMET1
RNS Number : 8227Y
Metals One PLC
05 January 2024
5 January 2024
Metals One Plc
("Metals One" or the "Company")
Establishment of Employee Benefit Trust
&
Issue of Equity
Metals One (AIM: MET1), which is advancing battery metal
projects at brownfield sites in Finland and Norway, announces it
has now established the Metals One Employee Benefit Trust ("EBT")
to implement the use of an incentive plan as set out in the
Company's admission document dated 25 July 2023 (available on the
Company's website at
https://metals-one.com/investors/#company-documents).
The Company intends to issue and allot 31,267,500 ordinary
shares in the Company to the EBT ("EBT Shares") at a price per
share of GBP0.01, being the Company's nominal share value, as
advised in the admission document, which is equivalent to 15% of
the current issued ordinary share capital of the Company. These
ordinary shares shall be held in the EBT on trust pending transfer
upon the vesting (or exercise, as the case may be) of awards
granted, and for such other purposes relating to the ongoing
recruitment, retention and incentivisation of employees as may be
recommended by the Company from time to time (subject to the
approval of the Remuneration Committee). Further to disclosures in
the Company's admission document, the beneficiaries of any future
distribution of EBT Shares to employees and directors will be
notified upon determination. Whilst this is yet to be formalised as
noted above, the Board expects the main three beneficiaries to be
in line with the disclosure in the admission document, namely
Alastair Clayton (Chairman), Jonathan Owen (Chief Executive
Officer), and Daniel Maling (Chief Financial Officer).
Additionally, the Company announces the issue of 1,000,000
ordinary shares in the Company at a price per share of GBP0.05 to a
service provider in lieu of fees for corporate services ("Fee
Shares").
Application will be made to the London Stock Exchange for
admission of the EBT Shares and the Fee Shares to trading on AIM
("Admission"). It is expected that Admission will become effective
and dealings in the EBT Shares and Fee Shares will commence at 8.00
a.m. on or around 12 January 2024. The EBT Shares and Fee Shares
will be issued fully paid and will rank pari passu in all respects
with the Company's existing Ordinary Shares. Following Admission,
the total number of Ordinary Shares in the capital of the Company
in issue will be 240,717,500 with voting rights. This figure may be
used by shareholders 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 Company's share
capital pursuant to (i) the Company's Articles, (ii) the Financial
Conduct Authority's Disclosure Guidance and Transparency Rules
and/or (iii) the AIM Rules for Companies issued by the London Stock
Exchange plc as amended from time to time.
Enquiries:
Metals One Plc
Jonathan Owen, Chief Executive Officer via Vigo Consulting
Dan Maling, CFO +44 (0)20 7390 0234
Beaumont Cornish Limited (Nominated
Adviser)
James Biddle / Roland Cornish
www.beaumontcornish.com +44 (0)20 7628 3396
Shard Capital Partners LLP (Joint
Broker)
Damon Heath / Erik Woolgar +44 (0)20 7186 9952
SI Capital Limited (Joint Broker) +44 (0)14 83413 500
Nick Emerson
Vigo Consulting (Investor Relations)
Ben Simons / Kendall Hill
metalsone@vigoconsulting.com +44 (0)20 7390 0234
Beaumont Cornish Limited ("Beaumont Cornish") is the Company's
Nominated Adviser and is authorised and regulated by the FCA.
Beaumont Cornish's responsibilities as the Company's Nominated
Adviser, including a responsibility to advise and guide the Company
on its responsibilities under the AIM Rules for Companies and AIM
Rules for Nominated Advisers, are owed solely to the London Stock
Exchange. Beaumont Cornish is not acting for and will not be
responsible to any other persons for providing protections afforded
to customers of Beaumont Cornish nor for advising them in relation
to the proposed arrangements described in this announcement or any
matter referred to in it.
About Metals One
Metals One is developing brownfield battery metals projects in
Finland (Black Schist Project) and Norway (SRH Råna Project), with
approximately GBP9 million of exploration carry exposure through
farm-in agreements. Metals One is aiming to help meet the
significant demand for battery metals by defining resources on the
doorstep of Europe's major electric vehicle OEMs and battery
manufacturers. Metals One's Black Schist Project in Finland,
totalling 706 km(2) across three licence areas, has an Inferred
Resource of 28.1 Mt nickel-zinc-cobalt-copper and is located
adjacent to Talvivaara, Europe's largest operating nickel mine.
Metals One's fully carried SRH Råna Project in Norway covers 18.14
km(2) across three contiguous exploration licences, with
significant opportunity for brownfield exploration of the Råna
intrusion, and proven potential for massive sulphide
nickel-cobalt-copper mineralisation.
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END
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