Potential strategic investment in the Company

THE INFORMATION CONTAINED IN THIS ANNOUNCEMENT IS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF REGULATION 596/2014

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4 December 2020

Mining, Mineral & Metals plc
("MMM" or the "Company")

Potential strategic investment in the Company 

Mining, Minerals and Metals plc (TIDM: MMM), the cash shell company seeking an acquisition in the mining or oil and gas sectors, notes the recent movement in the Company's share price and confirms that it is in discussions with a potential strategic investor (the "Investor") that may subscribe for shares in the Company that may result in a shareholding by the Investor of over 30% in the voting rights of the Company.  There is no guarantee that an agreement will be reached on such an investment, or what a resultant percentage holding might be subscribed for, or at what price any investment might be made. 

If discussions were to progress to an agreement, and the Investor were to conditionally subscribe for shares amounting to more than 30% of the Company's voting rights, the Company would seek a waiver from the Panel on Takeovers and Mergers (the "Panel") under Rule 9 of the City Code on Takeovers and Mergers (the "Code"), conditional on the approval by Independent Shareholders in General Meeting, of the obligation of the Investor  to make a Rule 9 offer under the Takeover Code as a consequence of the allotment and issue to it of any Shares. In addition, the Company would also seek approval by the FCA to the publication of a prospectus in respect of any subscription by the Investor.

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Notices related to financial adviser

VSA Capital Limited, which is authorised and regulated by the Financial Conduct Authority in the United Kingdom, is acting exclusively for MMM and for no one else in connection with the subject matter of this announcement and will not be responsible to anyone other than MMM for providing the protections afforded to its clients or for providing advice in connection with the subject matter of this announcement.