10
July 2024
First Tin
PLC
("First
Tin" or "the Company")
Result of Placing
and
Notice of General Meeting and
Posting of Circular
First Tin PLC, a tin development
company with advanced, low capex projects in Australia and Germany,
is pleased to announce that, further to the announcement made at
4.30 p.m on 10 July 2024 (the "Launch Announcement"), the Company has
conditionally raised c.£2.1 million (before expenses) pursuant to a
placing of 53,000,000 new ordinary shares
of £0.001 each in the capital of the Company ("Ordinary Shares") (the "Placing Shares") at a price of 4 pence
per Ordinary Share (the "Issue
Price").
The Placing was conducted by way of an accelerated book build
process.
Arlington Group Asset Management
("Arlington") acted
as Financial Advisor and Joint
Broker in connection with the Placing
alongside W H Ireland Limited ("WH
Ireland") who acted as Joint Broker and
Bookrunner.
The net proceeds of the Placing (the
"Fundraise") will be used
to deliver the following workstreams, as well as for general
working capital purposes:
· completion and submission of the ongoing Environmental Impact
Statement ("EIS") and the final permitting processes at Taronga,
Australia
· to
progress a number of sampling programmes at Taronga; and
· progression of permitting at Tellerhäuser, Germany
Notice of General Meeting and Posting of
Circular
The Fundraise is conditional,
amongst other things, on the approval by Shareholders of
resolutions to be proposed at a general meeting of the Company
which is to be convened on 29 July 2024 (the "General Meeting") to approve the issue
of the Placing Shares on a non pre-emptive basis (the "Resolutions"), the Admission of the
Placing Shares and the Placing Agreement not having been
terminated. A circular (the "Circular") containing details of the
Fundraise and a notice of the General Meeting in respect of the
Fundraise, is expected to be posted to Shareholders on 12 July
2024. The Circular will also be available on the Company's
website www.firsttin.com.
The General Meeting will be held at
the offices of First Tin PLC at First Floor, 47-48 Piccadilly,
London W1J 0DT at 9:00 a.m. (BST) on 29 July 2024.
Subject (amongst other things) to
all Resolutions being passed at the General Meeting, it is expected
that Admission will become effective and dealings in the New
Ordinary Shares will commence on the Main Market at 8 a.m. on 31
July 2024.
Capitalised terms used but not
otherwise defined in this announcement shall have the meanings
ascribed to such terms in the Company's announcement
made on 10 July
2024, unless the context
requires otherwise.
Enquiries:
First Tin
|
Via SEC Newgate below
|
Bill Scotting - Chief Executive
Officer
|
|
Arlington Group Asset Management Limited (Financial Advisor
and Joint Broker and Bookrunner)
|
|
Simon Catt
|
020 7389 5016
|
WH
Ireland Limited (Joint Broker and Bookrunner)
|
|
Harry Ansell/Dan Bristowe/Katy
Mitchell
|
020 7220 1670
|
SEC
Newgate (Financial Communications)
|
|
Elisabeth Cowell / Molly
Gretton
|
07900 248 213
|
Notes to Editors
First Tin PLC is an ethical,
reliable, and sustainable tin production company led by a team of
renowned tin specialists. The Company is focused on becoming a tin
supplier in conflict-free, low political risk jurisdictions through
the rapid development of high value, low capex tin assets in
Germany and Australia, which have been de-risked significantly,
with extensive work undertaken to date.
Tin is a critical metal, vital in
any plan to decarbonise and electrify the world, yet Europe has
very little supply. Rising demand, together with shortages, is
expected to lead tin to experience sustained deficit markets for
the foreseeable future.
First Tin's goal is to use
best-in-class environmental standards to bring two tin mines into
production in three years, providing provenance of supply to
support the current global clean energy and technological
revolutions.