⌘K
t
Future Metals NL announced the results of its 1-for-3 non-renounceable entitlement offer, which closed on 13 June 2025, raising A$2,635,602 (before costs) through the issue of 239,600,206 new shares at A$0.011 each. Eligible shareholders accepted 190,136,257 shares, while underwriters CPS Capital Group Pty Ltd and Zeta Resources Limited took up the 49,463,949 shortfall shares. Zeta will hold 94,800,000 shares, representing 9.9% of the enlarged share capital, with admission of the new shares to AIM expected on 23 June 2025, bringing total voting rights to 958,400,824.
| Date | 20 Jun 2025 |
| Time | 08:00:01 |
| Category | Capital structure |
| ID | 7581N |
20 June 2025
Future Metals NL
Results of Non-Renounceable Entitlement Offer
On 7 May 2025, Future Metals NL (Future Metals or the Company, ASX | AIM: FME) announced the launch of a 1-for-3 pro-rata non-renounceable entitlement offer to eligible shareholders at a price of A$0.011 per New Share (or 0.53 pence per Depository Interest), to raise up to approximately A$2.64 million (~£1.28 million) (before costs) (Entitlement Offer).
The Entitlement Offer was fully underwritten by CPS Capital Group Pty Ltd (CPS) and Zeta Resources Limited (Zeta) (together, the Underwriters). The Entitlement Offer closed at 5:00pm (AWST) / 10:00 a.m. (BST) on 13 June 2025. The Company is pleased to provide the results of the Entitlement Offer as follows:
|
New Shares |
Amount raised (before costs) |
|
|
Valid acceptances from eligible shareholders |
190,136,257 |
A$2,091,499 |
|
Placement of shortfall to Underwriters |
49,463,949 |
A$544,103 |
|
Total |
239,600,206 |
A$2,635,602 |
Of the 49,463,949 shortfall Shares, Zeta will take up 23,000,000 Shares with the balance of 26,463,949 Shares to be taken up by CPS in accordance with the Underwriting Agreement (refer to section 1.16 of the Entitlement Offer Booklet announced on 15 May 2025). As a result of the Entitlement Offer, Zeta will hold an interest of 94,800,000 Shares in the Company, representing 9.9% of the Company's enlarged share capital.
Admission and total voting rights
Application has been made to the London Stock Exchange plc for the admission to trading on AIM of the 239,600,206 New Shares, which is expected to occur and dealings commence at 8.00 a.m. (BST) on or around 23 June 2025 (Admission). On issue, the New Shares shall rank pari passu in all respects with the existing ordinary shares.
The number of Shares in issue, and the total voting rights in the Company, on Admission, will be 958,400,824. This figure may be used by shareholders as the denominator for the calculations by which they determine whether they are required to notify their interest in, or a change of their interest in, the Company under the provisions of the Company's constitution.
Unless specified otherwise, defined terms used in this announcement have the same meanings as those given in the Company's announcement of 7 May 2025.
This announcement has been approved for release by the Board of Future Metals NL.
For further information, please contact:
|
Future Metals NL |
Strand Hanson Limited (Nominated Adviser and UK broker) |
|
Patrick Walta |
James Bellman / Rob Patrick |
|
+61 8 9480 0414 |
+44 (0) 20 7409 3494 |
|
info@future-metals.com.au |
|