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Tertiary Minerals PLC announced on 29 June 2026 that it raised £15,000 (before expenses) from directors' subscriptions. This involved the issuance of 30,000,000 new ordinary shares at 0.05 pence per share to Managing Director Richard Belcher (10,000,000 shares) and Non-Executive Director Mike Armitage (20,000,000 shares). Admission of these shares to AIM is expected on or around 3 July 2026, resulting in a total issued share capital of 7,154,355,727 ordinary shares.
| Date | 29 Jun 2026 |
| Time | 07:00:13 |
| Category | Director/PDMR dealings |
| ID | 0794K |
("Tertiary" or the "Company")
29 June 2026
Directors' Subscriptions
Further to the Company's announcement of a Placing on 4 June 2026 (the "Placing" and the "Placing Announcement") and following the release of its Interim Results on 23 June 2026, Tertiary Minerals plc (AIM: TYM) is pleased to announce that it has now raised the £15,000 (before expenses) from certain directors of the Company as notified in the Placing Announcement.
Consequently, a further 30,000,000 new ordinary shares of 0.01 pence each in the Company (the "Subscription Shares") have been issued to certain directors at a price of 0.05 pence per share as detailed below (the "Directors' Subscriptions").
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Holding prior to Directors' Subscriptions
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Number of Subscription Shares acquired pursuant to the Directors' Subscriptions |
Holding immediately following Admission of the Subscription Shares |
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Number of Ordinary Shares |
% of issued share capital |
Number of Ordinary Shares |
Number of Ordinary Shares |
% of issued share capital |
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Richard Belcher Managing Director |
43,640,657 |
0.61% |
10,000,000 |
53,640,657 |
0.75% |
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Mike Armitage, Non-Executive Director |
8,823,529 |
0.12% |
20,000,000 |
28,823,529 |
0.40% |
As directors of the Company, Dr Belcher and Dr Armitage are "related parties" of the Company under the AIM Rules for Companies (the "AIM Rules"). As a result, the Directors' Subscriptions constitute a related party transaction pursuant to Rule 13 of the AIM Rules.
Messrs Cheetham and McAlister, being the independent Directors of the Directors' Subscription, having consulted with the Company's Nominated Adviser, SP Angel Corporate Finance LLP, are satisfied that the terms of the Directors' Subscriptions are fair and reasonable insofar as the Company's shareholders are concerned. The Directors' Subscriptions have been made on the same terms as the Placing.
Admission
The Subscription Shares will rank pari passu with the Company's existing ordinary shares. An application has been made to the London Stock Exchange for admission of the Subscription Shares to trading on AIM. Admission is expected to occur at 8.00 a.m. on or around 3 July 2026.
Use of Proceeds
As per the Placing, the net funds raised will be applied to drilling and technical studies at the Mushima North Target A1 silver oxide discovery with the aim of producing a maiden JORC Mineral Resource Estimate for this by the end of 2026 and for general working capital.
Total Voting Rights
Following Admission of the Subscription Shares the Company's enlarged issued share capital will be 7,154,355,727 ordinary shares.
The Company holds no ordinary shares in treasury. The total number of voting rights in the Company is therefore 7,154,355,727 and this figure may be used by shareholders as the denominator for the calculations by which they determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.
Further Information:
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Tertiary Minerals plc |
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Richard Belcher, Managing Director |
+44 (0) 1625 838 679 |
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SP Angel Corporate Finance LLP, Nominated Adviser and Broker |
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Caroline Rowe |
+44 (0) 203 470 0470 |
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AlbR Capital Limited, Joint Broker |
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Lucy Williams/Duncan Vasey |
+44 (0) 207 469 0930 |
About Tertiary Minerals plc
Tertiary Minerals plc (AIM: TYM) is an AIM-traded mineral exploration and development company whose strategic focus is on energy transition metals. The Company's projects are all located in stable and democratic, geologically prospective, mining-friendly jurisdictions. Tertiary's current principal activities are the discovery and development of copper and precious metal mineral resources in Zambia and Nevada, USA.
NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM
1. |
Details of the person discharging managerial responsibilities/person closely associated |
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a) |
Name: |
Dr. Richard Belcher |
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2. |
Reason for the notification |
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a) |
Position/status: |
Managing Director |
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b) |
Initial notification/Amendment: |
Initial notification |
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3. |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
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a) |
Name: |
Tertiary Minerals plc |
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b) |
LEI: |
213800OT9C6DQN9VO543 |
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4. |
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted |
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a) |
Description of the financial instrument, type of instrument: Identification code: |
Ordinary Shares of 0.01p each |
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b) |
Nature of the transaction: |
Issue of shares as part of Director Subscription |
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c) |
Price(s) and volume(s): |
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d) |
Aggregated information: Aggregated volume: Price: |
Single transaction as in 4 c) above
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e) |
Date of the transaction: |
29 June 2026 07:00 BST |
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f) |
Place of the transaction: |
Outside a trading venue |
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1. |
Details of the person discharging managerial responsibilities/person closely associated |
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a) |
Name: |
Dr. Mike Armitage |
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2. |
Reason for the notification |
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a) |
Position/status: |
Non-Executive Director |
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b) |
Initial notification/Amendment: |
Initial notification |
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3. |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
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a) |
Name: |
Tertiary Minerals plc |
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b) |
LEI: |
213800OT9C6DQN9VO543 |
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4. |
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted |
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a) |
Description of the financial instrument, type of instrument: Identification code: |
Ordinary Shares of 0.01p each |
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b) |
Nature of the transaction: |
Issue of shares as part of Director Subscription |
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c) |
Price(s) and volume(s): |
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d) |
Aggregated information: Aggregated volume: Price: |
Single transaction as in 4 c) above
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e) |
Date of the transaction: |
29 June 2026 07:00 BST |
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f) |
Place of the transaction: |
Outside a trading venue |
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