Business
Issue of Equity
Altona Rare Earths PLC (LSE: REE) announced a fundraise update on August 22, 2025, revealing increased proceeds of £851,950, up from £507,450. This included £344,500 from existing shareholders. The funding comprised a subscription for 9,630,000 new ordinary shares at £0.036 per share (£346,680) and the transfer and exercise of 40,500,000 warrants at £0.01 per share (£405,000). The blended price per share was £0.015. Other funding sources remained unchanged from the August 15, 2025, announcement, totaling £99,270 from warrant exercise and £100,000 from Salary Sacrifice Shares and £4,860 from Service Shares. Following the issue of 62,322,002 new ordinary shares, the enlarged share capital will be 229,064,306 shares. The company expects admission to trading on the London Stock Exchange around August 26, 2025. Disclaimer*
About this update from Altona Rare Earths Plc
[{"type":"text","content":"\n\n \n22 August 2025\n \n \nALTONA RARE EARTHS PLC\n(\"Altona\" or \"the Company\")\n \nFUNDRAISE UPDATE: PROCEEDS RISE TO £851,950\n \nAltona (LSE: REE), a resource exploration and development company focused on critical raw materials in Africa, today announces that further to the announcement on 15 August 2025, it has received an additional £344,500 of funding from existing shareholders, increasing from £507,450 to £851,950.\n \nThe fundraise, including the additional funding, comprised:\n \n· the subscription (the \"Subscription\") for 9,630,000 new ordinary shares of 1p each in the capital of the Company (the \"Ordinary Shares\" and such 9,630,000 Ordinary Shares being the \"Subscription Shares\") at 3.6p per Subscription Share (the \"Subscription Price\"); and\n· the transfer and subsequent exercise of 40,500,000 warrants at an exercise price of 1p (the \"Transferred Warrants\") over 40,500,000 Ordinary Shares (the \"Warrant Shares\" and, together with the Subscription Shares, the \"New Shares\") as below (the \"Warrant Exercise\" and, together with the Subscription, the \"Fundraise\").\n \nThe blended price of each New Share issued pursuant to the Fundraise is 1.5p (the \"Blended Price\"). The Blended Price has been calculated by dividing the proceeds of the Fundraise by the number of the New Shares.\n \nThe issue of Warrant Exercise Shares remains unchanged from the announcement on 15 August 2025, (in respect of 10,000,000 warrants over shares at a price of 1 pence per ordinary share, with proceeds of £100,000).\n \nThe issue of Salary Sacrifice Shares remains unchanged from the announcement on 15 August 2025, (in respect of 1,949,000 new Ordinary Shares at an average of 1.62 pence per Salary Sacrifice Share). \n \nThe issue of Service Shares remains unchanged from the announcement on 15 August 2025, (in respect of 243,002 new Ordinary Shares at a price of 2.06p per Service Share).\n \nAdmission and Total Voting Rights\n \nThe New Shares, Warrant Exercise Shares, Salary Sacrifice Shares and Service Shares are being issued from authorities granted to directors to issue new Ordinary Shares at the annual general meeting of the Company's shareholders on 27 November 2024.\n \nThe Subscription Shares, Salary Sacrifice...