Schedule 1 Update: Firering Strategic Minerals plc

RNS Announcement

RNS Number : 3419Q

AIM

27 October 2021

ANNOUNCEMENT TO BE MADE BY THE AIM APPLICANT PRIOR TO ADMISSION IN ACCORDANCE WITH RULE 2 OF THE AIM RULES FOR COMPANIES ("AIM RULES")

COMPANY NAME:

Firering Strategic Minerals plc ("Firering", the "Company")

COMPANY REGISTERED OFFICE ADDRESS AND IF DIFFERENT, COMPANY TRADING ADDRESS (INCLUDING POSTCODES) :

Registered office: Ioanni Stylianou, 6, 2nd floor, Flat/Office 202, 2003, Nicosia, Cyprus

Principal trading address: (Firering Immeuble Arc-En-Ciel, 2ème Étage, Angle Avenue Chardy et Boulevard Lagunaire, Abidjan, Côte d'Ivoire)

COUNTRY OF INCORPORATION:

Republic of Cyprus

COMPANY WEBSITE ADDRESS CONTAINING ALL INFORMATION REQUIRED BY AIM RULE 26:

www.fireringplc.com

COMPANY BUSINESS (INCLUDING MAIN COUNTRY OF OPERATION) OR, IN THE CASE OF AN INVESTING COMPANY, DETAILS OF ITS INVESTING POLICY). IF THE ADMISSION IS SOUGHT AS A RESULT OF A REVERSE TAKE-OVER UNDER RULE 14, THIS SHOULD BE STATED:

Firering is a holding company for a group of exploration and development companies set up to focus on developing assets towards the ethical production of critical metals. The Company's portfolio of assets is located in Côte d'Ivoire and contains projects that the Directors believe to be prospective for lithium and columbite-tantalite.

Lithium and columbite-tantalite are used in rechargeable batteries and other components for Electric Vehicles and consumer electronics such as laptops, tablets and mobile phones.

The Company consists of two operating subsidiaries: Bri Coltan and Atex Holdings. Bri Coltan is 75% and Atex is 51% owned by Firering (and the Company has an option to increase its ownership in Atex to 90%). The operating subsidiaries are owned via a wholly- owned intermediate holding company FH Coltan II. Firering's primary asset is the Atex Lithium-Coltan Project which covers an area of 135km² and is located in Northern Côte d'Ivoire. The Company holds an exploration licence for lithium which has been amended to include, inter alia, niobium-tantalum following the results of the exploration study and as part of the application for exploitation permits.

In addition, the Company has a planned exploration programme at other sites that includes reconnaissance work to assess the regional potential for additional areas of lithium and columbite-tantalite mineralisation.

The net proceeds of the fundraising will be used, inter alia, to acquire pilot production plants to commence production, to continue exploration work, and to meet the costs of Admission and for general working capital purposes.

DETAILS OF SECURITIES TO BE ADMITTED INCLUDING ANY RESTRICTIONS AS TO TRANSFER OF THE SECURITIES (i.e. where known, number and type of shares, nominal value and issue price to which it seeks admission and the number and type to be held as treasury shares):

86,885,360 ordinary shares of €0.001 each

CAPITAL TO BE RAISED ON ADMISSION (AND/OR SECONDARY OFFERING) AND ANTICIPATED MARKET CAPITALISATION ON ADMISSION:

Capital to be raised : £4.0 million.

Anticipated market capitalisation: £11.3 million

PERCENTAGE OF AIM SECURITIES NOT IN PUBLIC HANDS AT ADMISSION:

41%

DETAILS OF ANY OTHER EXCHANGE OR TRADING PLATFORM TO WHICH THE AIM SECURITIES (OR OTHER SECURITIES OF THE COMPANY) ARE OR WILL BE ADMITTED OR TRADED:

The Company is not admitted nor has sought to be admitted to trading on any other market or platform.

FULL NAMES AND FUNCTIONS OF DIRECTORS AND PROPOSED DIRECTORS (underlining the first name by which each is known or including any other name by which each is known):

THE BOARD

Mr Yuval Cohen - Chief Executive

Mr Timothy ("Tim) William Daniel - Finance Director*

Mr Youval Rasin - Non-Executive Chairman

Mr Neil Lindsey Herbert - Non-Executive Director*

Ms Ofra Chen - Non-Executive Director*

Mr Vassilios Carellas - Non-Executive Director*

* to be appointed on Admission

FULL NAMES AND HOLDINGS OF SIGNIFICANT SHAREHOLDERS EXPRESSED AS A PERCENTAGE OF THE ISSUED SHARE CAPITAL, BEFORE AND AFTER ADMISSION (underlining the first name by which each is known or including any other name by which each is known):

Shareholder	Percentage - pre- Admission	Percentage - post-Admission
Mr Youval Rasin	30.5%	14.5%
Rompartner Limited	21.8%	10.4%
Mr Yehoshua Shai Kol	16.9%	8.0%
Mr Lincoln Moore	7.2%	3.4%
Mr Yuval Cohen	5.0%	2.4%

NAMES OF ALL PERSONS TO BE DISCLOSED IN ACCORDANCE WITH SCHEDULE 2, PARAGRAPH (H) OF THE AIM RULES:

N/A

(i) ANTICIPATED ACCOUNTING REFERENCE DATE

(ii) DATE TO WHICH THE MAIN FINANCIAL INFORMATION IN THE ADMISSION DOCUMENT HAS BEEN PREPARED (this may be represented by unaudited interim financial information)

(iii) DATES BY WHICH IT MUST PUBLISH ITS FIRST THREE REPORTS PURSUANT TO AIM RULES 18 AND 19:

(i) The current accounting reference date of the Company is 31 December

(ii) 30 June 2021

(iii) 30 June 2022 (audited annual accounts for the year ending 31 December 2021 );

30 September 2022 (unaudited interim results for the 6 months ending 30 June 2022 );

30 June 2023 (audited annual accounts for the year ending 31 December 2022.)

EXPECTED ADMISSION DATE:

12 November 2021

NAME AND ADDRESS OF NOMINATED ADVISER:

SPARK Advisory Partners Limited

5 St John's Lane

Farringdon

London EC1M 4BH

NAME AND ADDRESS OF BROKER:

Optiva Securities Limited
49 Berkeley Square
London
W1J 5AZ

OTHER THAN IN THE CASE OF A QUOTED APPLICANT, DETAILS OF WHERE (POSTAL OR INTERNET ADDRESS) THE ADMISSION DOCUMENT WILL BE AVAILABLE FROM, WITH A STATEMENT THAT THIS WILL CONTAIN FULL DETAILS ABOUT THE APPLICANT AND THE ADMISSION OF ITS SECURITIES:

Copies of this document will be available free of charge to the public during normal business hours on any day (Saturdays, Sundays and public holidays excepted) at the offices of SPARK Advisory Partners, 5 St John's Lane, London, EC1M 4BH in accordance with the AIM Rules. This document will also be available for download from the Company's website at www.fireringplc.com.

THE CORPORATE GOVERNANCE CODE THE APPLICANT HAS DECIDED TO APPLY

The QCA Corporate Governance Code, as published by the Quoted Companies Alliance.

DATE OF NOTIFICATION:

27 October 2021

NEW/ UPDATE:

UPDATE

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END

AIMFESFMMEFSEES

RNS metadata

Title: Schedule 1 Update: Firering Strategic Minerals plc
Time: 08:00:01
Date: 27 Oct 2021
Category: Corporate updates
ID: 3419Q

Schedule 1 Update: Firering Strategic Minerals plc | RNS | Ticker