Business
Statement re Possible Offer
Quantuma Advisory Limited, as joint administrator for The 79th Grp Limited, has been approached by a potential purchaser for a controlling interest in First Class Metals PLC, which holds 78,552,084 ordinary shares representing approximately 33.5% of the issued share capital. Discussions are ongoing to find purchasers for the remaining shares, which could be all or part of the 79Grp Shares, potentially carrying less than 30% of the voting rights. An offer period has commenced for First Class Metals, which currently has 233,932,820 ordinary shares in issue. Disclaimer*
About this update from First Class Metals Plc
[{"type":"text","content":"\n\nNOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION.\nTHIS IS AN ANNOUNCEMENT FALLING UNDER RULE 2.4 OF THE CITY CODE ON TAKEOVERS AND MERGERS (THE \"CODE\") AND DOES NOT CONSTITUTE AN ANNOUNCEMENT OF A FIRM INTENTION TO MAKE AN OFFER UNDER RULE 2.7 OF THE CODE. THERE CAN BE NO CERTAINTY THAT ANY FIRM OFFER WILL BE MADE.\nTHE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED TO CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER THE RETAINED EU LAW VERSION OF THE MARKET ABUSE REGULATION (EU) NO. 596/2014 (THE \"UK MAR\") WHICH IS PART OF UK LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018. UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.\nFOR IMMEDIATE RELEASE.\n \n19 DECEMBER 2025\n \nPotential Disposal of a Controlling Interest\nQuantuma Advisory Limited (Quantuma), in its capacity as joint administrators of The 79th Grp Limited (79th Grp) alongside Kroll Advisory Limited (the Joint Administrators) notes that, per the Progress Report filed with Companies House on 24 November 2025, Quantuma are currently in control of the 78,552,084 ordinary shares representing approximately 33.5% of the entire issued share capital in First Class Metals PLC (First Class Metals, FCM or the Company), the UK-listed exploration company advancing high-grade, district-scale gold opportunities in Ontario, Canada (the 79Grp Shares).\nThe Joint Administrators have been approached by a potential purchaser for a part of the 79Grp Shares but have not yet entered into discussions with any potential purchaser to purchase a controlling interest and there is no guarantee that either a controlling interest or otherwise will be sold or acquired. FCM is informed that the Joint Administrators are seeking further potential purchasers to acquire the remaining interest which may be either (i) all of the remaining 79Grp Shares; or (ii) part of the 79Grp Shares, which would carry in aggregate less than 30% of the voting rights of the Company.\nThere can be no certainty that any firm offer will be made by the potential purchasers and a further announcement will be made as and when appropriate.\...