9 December
2021
ALTONA RARE EARTHS
PLC
(“Altona” or “the Company”)
LSE LISTING
UPDATE
Altona (AQSE: ANR), a Rare Earths mining company focused on the
discovery and development of rare earth mine projects in
Africa, is pleased to update
shareholders following the FCA’s Policy Statement PS21/22 (“Policy
Statement”), issued on 2 December
2021.
As a result of the Policy Statement, from 3 December 2021, all companies seeking to list
premium or standard listed shares must have a minimum market
capitalisation (“MMC”) of at least £30 million, increased from the
previous threshold of £700,000.
However, as Altona has already made a completed submission to
FCA for a listing eligibility review prior to the publication of
the Policy Statement, the Company is able to take advantage of the
transitional provisions in the Policy Statement (“Transitional
Provisions”). Under the Transitional Provisions, companies can
apply for a listing based on the previous MMC of £700,000 provided
they have applied to list by 2 June
2023.
Altona is therefore continuing with its application for
admission to the Official List (by way of Standard Listing under
Chapter 14 of the Listing Rules) and to trading on the London Stock
Exchange’s Main Market for listed securities (“Admission”), which
it hopes to complete in the first quarter of 2022.
The Company further announces that it has appointed Novum
Securities Limited as its Financial Adviser for the Admission
process.
-ends-
For further information, please visit www.altonaRE.com or
contact:
Altona Rare Earths Plc
Christian Taylor-Wilkinson, Chief
Executive
+44 (0) 7795 168 157
Martin Wood, Non-Executive
Chairman
+44 (0) 7880 787 080
Optiva Securities (Broker)
Hal
Norwood
+44 (0) 20 3411 1882
Alfred Henry Corporate Finance Ltd (AQSE Corporate
Adviser )
Jon Isaacs / Nick
Michaels
+44 (0) 20 3772 0021
Novum Securities Ltd (LSE Listing
Adviser)
David
Coffman
+44 (0) 20 7399 9429
Company Information
Altona Rare Earths Plc is a mining exploration company focused
on the evaluation, development and extraction of Rare Earth Element
(REE) metals in Africa.
Having ownership of both carbonatite and ionic clay deposits
allows Altona possible access to both Heavy and Light Rare Earths,
one of the few companies in the position to potentially supply all
17 REEs in economic quantities.
It acquired its first rare earths mining asset, the
“carbonatite” Monte Muambe Project in Northwest Mozambique, in June 2021 and completed Phase 1 drilling on
26 November 2021.
The Company completed its second acquisition in October 2021 – the “ionic clay” Chambe Rare
Earths Project in Southern Malawi,
where it will commence Phase 1 exploration drilling by the end of
Q1 2022.
The Company was admitted to trading on AIM on 10 March 2005 and was subsequently admitted to
Aquis Stock Exchange on 1 February 2019. A copy of its
Admission documents dated 4 March
2005 can be accessed on its website, www.altonaRE.com.
This website is where items can be inspected under Rule 75 of the
Aquis Rules for Issuers.