Business
Result of Placing and Notice of General Meeting
Result of Placing and Notice of General Meeting.
About this update from First Tin Plc
[{"type":"text","content":"\n\n\n \n10 July 2024\n \nFirst Tin PLC\n(\"First Tin\" or \"the Company\")\nResult of Placing and\nNotice of General Meeting and Posting of Circular\nFirst Tin PLC, a tin development company with advanced, low capex projects in Australia and Germany, is pleased to announce that, further to the announcement made at 4.30 p.m on 10 July 2024 (the \"Launch Announcement\"), the Company has conditionally raised c.£2.1 million (before expenses) pursuant to a placing of 53,000,000 new ordinary shares of £0.001 each in the capital of the Company (\"Ordinary Shares\") (the \"Placing Shares\") at a price of 4 pence per Ordinary Share (the \"Issue Price\").\nThe Placing was conducted by way of an accelerated book build process.\nArlington Group Asset Management (\"Arlington\") acted as Financial Advisor and Joint Broker in connection with the Placing alongside W H Ireland Limited (\"WH Ireland\") who acted as Joint Broker and Bookrunner.\nThe net proceeds of the Placing (the \"Fundraise\") will be used to deliver the following workstreams, as well as for general working capital purposes:\n· completion and submission of the ongoing Environmental Impact Statement (\"EIS\") and the final permitting processes at Taronga, Australia\n· to progress a number of sampling programmes at Taronga; and\n· progression of permitting at Tellerhäuser, Germany\nNotice of General Meeting and Posting of Circular\nThe Fundraise is conditional, amongst other things, on the approval by Shareholders of resolutions to be proposed at a general meeting of the Company which is to be convened on 29 July 2024 (the \"General Meeting\") to approve the issue of the Placing Shares on a non pre-emptive basis (the \"Resolutions\"), the Admission of the Placing Shares and the Placing Agreement not having been terminated. A circular (the \"Circular\") containing details of the Fundraise and a notice of the General Meeting in respect of the Fundraise, is expected to be posted to Shareholders on 12 July 2024. The Circular will also be available on the Company's website www.firsttin.com.\nThe General Meeting will be held at the offices of First Tin PLC at First Floor, 47-48 Piccadilly, London W1J 0DT at 9:00 a.m. (BST) on 29 July 2024.\nSubject (amongst other things) to ...