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On 25 February 2025, Drachs Investments No3 Limited notified Metals Exploration PLC that it increased its interest to 335,532,143 ordinary shares, representing 13.05% of total voting rights, up from a previous position of 12.41%. Metals Exploration PLC also announced a correction to an administrative error from 13 January 2025, leading to the cancellation of admission of 701 existing ordinary shares to AIM around 26 February 2025. Following this correction, the Company's total number of voting rights is 2,571,925,476.
| Date | 25 Feb 2025 |
| Time | 13:10:41 |
| Category | Holding(s) in company |
| ID | 4160Y |
25 February 2025
METALS EXPLORATION PLC
Holding(s) in Company and Total Voting Rights
Metals Exploration plc (AIM: MTL) ("Metals Exploration" or the "Company"), a gold production, exploration, and development company with assets in the Philippines and Nicaragua, has been notified of the following change to the interest of a significant shareholder, Drachs Investments No3 Limited, and announces a correction to the Company's total voting rights.
Change of Significant Shareholder Interest
Drachs Investments No3 Limited has notified the Company that it has increased its interest in ordinary shares of £0.0001 each in the capital of the Company ("Ordinary Shares") to 335,532,143 Ordinary Shares, representing 13.05% of the total voting rights. The TR-1 notification form is shown below.
Total Voting Rights
As a result of an administrative error, the Company's announcement of 13 January 2025 erroneously stated that 830,145,842 Ordinary Shares were to be issued to Condor Gold Scheme Shareholders and admitted to trading on AIM, which should have stated 830,145,141 Ordinary Shares.
Accordingly, application has been made to London Stock Exchange plc for the cancellation of the admission of 701 existing Ordinary Shares to trading on AIM (the "Voting Rights Correction"), which is expected to take place at 8.00 a.m. on or around 26 February 2025.
Following the Voting Rights Correction, the Company will have 2,965,438,788 Ordinary Shares in issue, of which 393,513,312 ordinary shares as held in treasury, and, accordingly, the total number of voting rights is 2,571,925,476. From the date of the Voting Rights Correction, this figure may be used by shareholders in the Company as the denominator for the calculation by which they may determine if they are required to notify their interest in, or change to their interest in, the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.
For further information, please contact or visit:
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Metals Exploration PLC |
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Via BlytheRay |
+44 (0) 207 138 3204 |
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Nominated & Financial Adviser: |
STRAND HANSON LIMITED |
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James Spinney, James Dance, Rob Patrick |
+44 (0) 207 409 3494 |
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Broker: |
HANNAM & PARTNERS |
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Matt Hasson, Franck Nganou |
+44 (0) 207 907 8500 |
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Public Relations: |
BLYTHERAY |
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Megan Ray, Said Izagaren |
+44 (0) 207 138 3204 |
Web: www.metalsexploration.com
LinkedIn: Metals Exploration
TR-1: Standard form for notification of major holdings
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NOTIFICATION OF MAJOR HOLDINGS (to be sent to the relevant issuer and to the FCA in Microsoft Word format if possible) i |
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1a. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached ii: |
Metals Exploration plc |
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1b. Please indicate if the issuer is a non-UK issuer (please mark with an "X" if appropriate) |
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Non-UK issuer |
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2. Reason for the notification (please mark the appropriate box or boxes with an "X") |
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An acquisition or disposal of voting rights |
X |
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An acquisition or disposal of financial instruments |
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An event changing the breakdown of voting rights |
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Other (please specify) iii: |
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3. Details of person subject to the notification obligation iv |
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Name |
Drachs Investments No3 Limited |
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City and country of registered office (if applicable) |
Jersey, UK |
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4. Full name of shareholder(s) (if different from 3.) v |
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Name |
Helga Evans |
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City and country of registered office (if applicable) |
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5. Date on which the threshold was crossed or reached vi: |
24 February 2025 |
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6. Date on which issuer notified (DD/MM/YYYY): |
25 February 2025 |
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7. Total positions of person(s) subject to the notification obligation |
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% of voting rights attached to shares (total of 8. A) |
% of voting rights through financial instruments |
Total of both in % (8.A + 8.B) |
Total number of voting rights held in issuer (8.A + 8.B) vii |
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Resulting situation on the date on which threshold was crossed or reached |
13.05% |
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13.05% |
335,352,143 |
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Position of previous notification (if applicable) |
12.41% |
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12.41% |
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8. Notified details of the resulting situation on the date on which the threshold was crossed or reached viii |
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A: Voting rights attached to shares |
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Class/type of ISIN code (if possible) |
Number of voting rights ix |
% of voting rights |
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Direct (DTR5.1) |
Indirect (DTR5.2.1) |
Direct (DTR5.1) |
Indirect (DTR5.2.1) |
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Ordinary |
335,352,143 |
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13.05% |
- |
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SUBTOTAL 8. A |
332,352,143 |
13.05% |
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B 1: Financial Instruments according to DTR5.3.1R (1) (a) |
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Type of financial instrument |
Expiration |
Exercise/ |
Number of voting rights that may be acquired if the instrument is exercised/converted. |
% of voting rights |
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SUBTOTAL 8. B 1 |
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B 2: Financial Instruments with similar economic effect according to DTR5.3.1R (1) (b) |
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Type of financial instrument |
Expiration |
Exercise/ |
Physical or cash Settlement xii |
Number of voting rights |
% of voting rights |
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SUBTOTAL 8.B.2 |
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9. Information in relation to the person subject to the notification obligation (please mark the applicable box with an "X") |
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Person subject to the notification obligation is not controlled by any natural person or legal entity and does not control any other undertaking(s) holding directly or indirectly an interest in the (underlying) issuer xiii |
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Full chain of controlled undertakings through which the voting rights and/or the |
X |
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Name xv |
% of voting rights if it equals or is higher than the notifiable threshold |
% of voting rights through financial instruments if it equals or is higher than the notifiable threshold |
Total of both if it equals or is higher than the notifiable threshold |
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Helga Evans |
0.00% |
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0.00% |
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Drachs Investments No3 Limited |
13.05% |
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13.05% |
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10. In case of proxy voting, please identify: |
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Name of the proxy holder |
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The number and % of voting rights held |
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The date until which the voting rights will be held |
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11. Additional information xvi |
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Place of completion |
London, UK |
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Date of completion |
25 February 2025 |