26 May
2022
ALTONA RARE EARTHS
PLC
(“Altona” or “the Company”)
ADJOURNMENT OF
WARRANT HOLDER MEETING
Altona (AQSE: ANR.PL), an exploration company focused on the
evaluation, acquisition and development of Rare Earth Elements
(“REE”) mining projects in Africa, advises shareholders that, the meeting
of warrant holders (“Warrant Holders”) in respect of a
warrant instrument dated 1 October
2021 (“Warrant Instrument”) that was announced on
29 April 2022 and called for
24 May 2022 has been adjourned as a
result of discussions with various Warrant Holders.
As announced on 29 April 2022 the
meeting was called to vote on the proposal to re-price the
1 October 2021, 20 pence warrants, which were issued to only
those Warrant Holders who had subscribed for Ordinary Shares in
both the September 2021 placing and
April 2022 placing (the
“Placings”).
Following the adjournment of the meeting the Board has resolved
that the most equitable approach with respect to all the
holders of a 20 pence Warrant
Instrument is to offer them, irrespective of whether they
subscribed for shares in one or both of the Placings, the
opportunity to surrender their rights under the Warrant Instrument
in return for the grant of new warrants with an exercise price of
12p per Ordinary Share (the “Offer”).
For sake of clarity, this Offer, therefore, is open to holders
of the 20 pence Warrants from the
Company’s June 2021 and September 2021 placings.
The Company will shortly be writing to each Warrant Holder in
respect of the Offer and the Offer will be open for acceptance up
to and including 26 June 2022.
In the event that all of the 20
pence Warrant Holders accept the Offer, the requirement to
hold the adjourned Warrant Holder meeting will also terminate.
Christian Taylor-Wilkinson,
Chief Executive of Altona, commented, “We appreciate the
support of all our shareholders and warrant holders and we are
mindful of the delay to our LSE listing and believe offering all
20p warrant holders with the opportunity to cancel their existing
warrants and issuing the replacements at 12p will be an equitable
result for all and will in the medium term, create shareholder
value.”
-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
Alfred Henry Corporate Finance Ltd (AQSE Corporate
Adviser )
Jon Isaacs / Nick
Michaels
+44 (0) 20 3772 0021
Optiva Securities (Broker)
Daniel
Ingram
+44 (0) 20 3411 1882
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. It owns a REE mining project in
Mozambique; the Monte Muambe
Project, a significant Light REE mining project in the southwest of
the country, where exploration work commenced on 1 October 2021. The Company is in the process of
investigating other REE opportunities in Africa.