Business
Exercise of Warrants and Warrant Term Extension
Exercise of Warrants and Warrant Term Extension.
About this update from Critical Metals Plc
[{"type":"text","content":"\n\n \nCritical Metals plc / EPIC: CRTM / Market: Main Market\n 11 September 2023\nCritical Metals plc\n(\"Critical Metals\" or the \"Company\") \n \nExercise of Warrants and Warrant Term Extension\n \nCritical Metals plc, a mining investment Company established to acquire mining opportunities in the critical and strategic metals sector, announces that it has received warrant exercise notices to subscribe for a total of 2,814,286 new ordinary shares of £0.005 each in the capital of the Company (\"Ordinary Shares\") split between 1,100,000 Ordinary Shares at an exercise price of £0.10 per Ordinary Share and an additional 1,714,286 Ordinary Shares at an exercise price of £0.05 per Ordinary Share (the \"Warrant Shares\"). \nA total of 2,814,286 Warrant Shares have been exercised resulting in total gross proceeds to the Company of £195,714.30.\nAdmission\nApplication has been made for the 2,814,286 Warrant Shares to be admitted to the standard segment of the Official List and to trading on the main market for listed securities of the London Stock Exchange, and admission of the Warrant Shares is expected to occur on or around 21 March 2023 (\"Admission\"). The Warrant Shares will rank pari passu with the existing Ordinary Shares.\nFor the purpose of the Disclosure and Transparency Rules, following Admission the enlarged issued share capital of the Company will comprise 65,129,521 Ordinary Shares. The Company does not hold any shares in treasury. The above figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company, under the Disclosure and Transparency Rules.\nExtension of Warrants\nIn addition, given copper ore sales are about to begin after months of complex negotiations with six different purchasers, the Company announces its intention to extend the exercise period of a total of 9,000,000 warrants, which are exercisable on or before the 11 September 2023 at 40 pence per share (\"RTO Warrants\") to 31 March 2024, and a total of 2,171,428 warrants held by the Directors that are exercisable on or before 30 September 2023: (i) 400,000 warrants exercisable at 10 pence per share (\"10p Warrants\"); and (ii) 1,771,428 war...