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On 31 March 2025, First Class Metals PLC (FCM) announced the immediate resignation of David Webster as director and Non-Executive Chairman. FCM also announced the proposed appointment of Christopher Johnson as Non-Executive Director, James Knowles will resume the role of Executive Chairman, and the second stage of The Seventy Ninth Group's investment into FCM will not be proceeding at the current time.
| Date | 31 Mar 2025 |
| Time | 07:05:00 |
| Category | Corporate updates |
| ID | 7761C |
The information contained within this announcement is deemed to constitute inside information as stipulated under the retained EU law version of the Market Abuse Regulation (EU) No. 596/2014 (the "UK MAR") which is part of UK law by virtue of the European Union (Withdrawal) Act 2018. The information is disclosed in accordance with the Company's obligations under Article 17 of the UK MAR. Upon the publication of this announcement, this inside information is now considered to be in the public domain.
FIRST CLASS METALS PLC
31st March 2025
Board Changes
Update on Fundraise
First Class Metals PLC (FCM) hereby announces the resignation of David Webster as director and Non-Executive Chairman with immediate effect. Mr. Webster has decided to focus his efforts towards The Seventy Ninth Group, particularly to address the recent allegations made by the City of London Police concerning the group. Whilst Mr. Webster was one of the four members of The Seventy Ninth Group questioned by the City of London Police, he was released on bail without charge, contrary to some media speculation.
The Company is pleased to announce the proposed appointment of Christopher Johnson as Non-Executive Director. Mr. Johnson, currently serving as Chief Operating Officer of The Seventy Ninth Group, brings over twenty years of experience in legal practice to the board. His appointment is subject to completion of the customary due diligence procedures.
James Knowles, currently the Company's Managing Director, will resume the role as Executive Chairman.
Additionally, whilst it remains the intention to complete the second stage of The Seventy Ninth Group's investment into FCM it will not be proceeding at the current time. Further updates will be provided in due course.
Ends
For Further Information:
Engage with us by asking questions, watching video summaries, and seeing what other shareholders have to say. Navigate to our Interactive Investor hub here:
https://fcm-l.investorhub.com/link/MP7o0P
For further information, please contact:
James Knowles, Executive Chair
Email: [email protected]
Tel: 07488 362641
Marc J Sale, CEO
Email: [email protected]
Tel: 07711 093532
Novum Securities Limited (Financial Adviser)
David Coffman / Dan Harris
Website: www.novumsecurities.com
Tel: (0)20 7399 9400
Axis Capital Markets (Broker)
Lewis Jones / Ben Tadd
Website: Axcap247.com
Tel: (0)203 026 0449