27 September 2023

Firering Strategic Minerals Plc

("Firering", the "Company" or the "Group")

PDMR Subscription

Firering Strategic Minerals Plc (AIM:FRG), an exploration and development company focusing on strategic minerals, announces that, further to the recent placing announced on 21 September 2023 (the "Placing"), Youval Rasin (non-executive chairman), Neil Herbert (senior independent non-executive director), Yehoshua Shai Kol (chief financial officer) and Vassilios Carellas (independent non-executive director), have subscribed for, in aggregate, 1,076,922 new ordinary shares of €0.001 each in the Company (the "Ordinary Shares") at a price of 6.5 pence per Ordinary Share (the "Subscription Shares"), raising additional cash proceeds of £70,000 (the "PDMR Subscription").  In total the Placing, which was oversubscribed, together with the PDMR Subscription, raised £826,000 in aggregate.

Pursuant to MAR, the directors of the Company, together with their related parties, were not permitted to enter into the subscription agreement until after publication of the Interim Results, which happened at 700 a.m. today: https://www.londonstockexchange.com/news-article/FRG/interim-results/16141160.

Related Party Transaction

The Subscriptions by each of Youval Rasin, Neil Herbert, Yehoshua Shai Kol and Vassilios Carellas ("Subscribing Directors") constitute related party transactions under AIM Rule 13 of the AIM Rules for Companies. 

Yuval Cohen, the Independent Director for this purpose, having consulted with the Company's Nominated Adviser, considers the Subscriptions by the Subscribing Directors to be fair and reasonable insofar as the Company's shareholders are concerned.

Issue of Equity

30,736 ordinary shares of €0.001 each ("Fee Shares") have been issued, at an issue price of 8.1 pence per share to certain advisors in settlement of fees due of £2,500.

Admission and Total Voting Rights

Application will be made to the London Stock Exchange for admission of the 1,076,922 Subscription Shares and 30,376 Fee Shares, making a total of 1,107,298 shares to trading on AIM. It is expected that admission will become effective and dealings in the Subscription Shares will commence on AIM at 8.00 a.m. on or around 3 October 2023.

The Subscription Shares and Fee Shares have been issued fully paid and will rank pari passu in all respects with the Company's existing Ordinary Shares.

Following Admission, the total number of Ordinary Shares in the capital of the Company in issue will be 101,836,699 with voting rights. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company's issued share capital pursuant to the Company's Articles.

Capitalised terms used but not otherwise defined in this announcement shall have the meanings ascribed to such terms in the Company's announcement made at 6.33 p.m. on 20 September 2023, unless the context requires otherwise.

Revised shareholdings following Admission

On Admission, the revised shareholdings of the following PDMR's will be:

*Shares are held by Cambrian Ltd, a company in which Mr Herbert has a beneficial interest.

For further information on the Company, please visit www.fireringplc.com  or contact: