Business
Extension to Bridge Loan Notes
Firering Strategic Minerals plc has amended its £805,278 bridge loan notes, extending the repayment date from May 15, 2026, to May 15, 2027, while maintaining the 15% annual interest rate. A one-off 5% arrangement fee, totaling £40,263.90, will be paid to noteholders by May 31, 2026. These amendments, which constitute related party transactions involving directors Youval Rasin, Shai Kol, and Vassilios Carellas, have been deemed fair and reasonable by an independent director and the company's nominated adviser. Disclaimer*
About this update from Firering Strategic Minerals Plc
[{"type":"text","content":"\n\nFirering Strategic Minerals plc / EPIC: FRG / Market: AIM / Sector: Mining\n19 May 2026\nFirering Strategic Minerals plc\n(\"Firering\" or the \"Company\")\n \nExtension to Bridge Loan Notes; Related Party Transactions\n \nFirering Strategic Minerals plc (AIM: FRG), an emerging producer and developer of industrial and critical minerals, announces that it has agreed amendments to its existing £805,278 bridge loan notes issued in November 2024 (the \"Bridge Loan Notes\") (see RNS dated 15 November 2024).\n \nThe amendments are as follows: 1) the repayment date of the Bridge Loan Notes is extended from 15 May 2026 to 15 May 2027; 2) the interest on the Bridge Loan Notes will continue to accrue interest at 15% per annum with interest payable semi-annually, and a minimum 7.5% return to holders of Bridge Loan Notes (\"Noteholders\") should the Bridge Loan Notes be repaid early within the next 6 months; and 3) payment of a one-off arrangement fee to Noteholders equal to 5 per cent. of the aggregate principal amount of the Bridge Loan Notes, payable on or before 31 May 2026. All other terms of the Bridge Loan Notes remain unchanged.\n \nAny material amendment to the terms of the Bridge Loan Notes requires the approval of at least 75% of Noteholders. Such consent having been obtained, the Company has executed a deed poll to give effect to the amendments set out above and consequentially they are binding on all Noteholders.\n \nYouval Rasin, Chairman and Interim CEO of Firering, commented: \"The Board appreciates the continued support of its Noteholders, with the amended terms providing the Company with additional financial flexibility as its key asset, Limeco, continues to scale production and advance towards its next phase of operational growth.\"\n \nRelated Party Transactions\nCertain directors of the Company, being Youval Rasin, Shai Kol and Vassilios Carellas (the \"Participating Directors\"), together with persons closely associated, participated in the original Bridge Loan Notes issued in November 2024, as set out below:\n\n\n\n\nName of Director\n\n\nNotes Held (£)\n\n\n\n\nYouval Rasin\n\n\n£50,000\n\n\n\n\nShai Kol\n\n\n£25,000\n\n\n\n\nVassilios Carellas\n\n\n£37,500\n\n\n\n\n \nThe amendments to the terms of the Bridge Loan Notes in respect of the Participating Directors constitute relat...