Business
Result of Bookbuild and Subscription Raising
Tungsten West Plc has successfully raised gross proceeds of £41,369,718 through a bookbuild and subscription, placing 59,746,113 ordinary shares at £0.18 per share for £10,754,300 and an additional 162,712,757 shares for £29,288,296. This fundraising, which was oversubscribed by more than 2.5 times, represents approximately 17.6% of the company's issued share capital prior to the retail offer. Directors also participated, subscribing for 1,952,898 new ordinary shares, raising £351,522. Lansdowne participated in the placing, acquiring 40,678,189 shares for £7.32 million, which will result in them holding approximately 26.67% of the company's issued share capital post-admission. The company anticipates the first admission of shares to AIM on February 11, 2026, with second admission expected on February 27, 2026, subject to shareholder approval. Disclaimer*
About this update from Tungsten West Plc
[{"type":"text","content":"\n\n \nTHIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND DOES NOT CONSTITUTE A PROSPECTUS OR OFFERING MEMORANDUM OR CONTAIN ANY INVITATION, SOLICITATION, RECOMMENDATION, OFFER OR ADVICE TO ANY PERSON TO SUBSCRIBE FOR, OTHERWISE ACQUIRE OR DISPOSE OF ANY SECURITIES OF TUNGSTEN WEST PLC OR ANY OTHER ENTITY IN ANY JURISDICTION. NEITHER THIS ANNOUNCEMENT NOR THE FACT OF ITS DISTRIBUTION, SHALL FORM THE BASIS OF, OR BE RELIED ON IN CONNECTION WITH ANY INVESTMENT IN RESPECT OF TUNGSTEN WEST PLC AND SHOULD NOT BE CONSIDERED AS A RECOMMENDATION THAT ANY INVESTOR SHOULD SUBSCRIBE FOR OR PURCHASE ANY SUCH SECURITIES.\n\nThis Announcement contains inside information for the purposes of the UK version of the Market Abuse Regulation (EU No. 596/2014) as it forms part of United Kingdom domestic law by virtue of the European Union (Withdrawal) Act 2018 as amended by the European Union (Withdrawal) Act 2020 (\"UK MAR\"). In addition, market soundings (as defined in UK MAR) were taken in respect of certain of the matters contained in this Announcement, with the result that certain persons became aware of such inside information, as permitted by UK MAR. Upon the publication of this Announcement, this inside information is now considered to be in the public domain and such persons shall therefore cease to be in possession of inside information.\n\nCapitalised terms not otherwise defined in the text of this Announcement have the meanings given in the Company's accelerated bookbuild launch announcement released at 7.00 a.m. on 5 February 2026, unless otherwise specified.\n\n6 February 2026\nTungsten West Plc\n (\"Tungsten West\" or the \"Company\")\nResult of Bookbuild and Subscription Raising c.£41.37 million\n \nTungsten West (AIM: TUN), the mining company focused on restarting production at the Hemerdon tungsten and tin mine (\"Hemerdon\" or the \"Project\") in Devon in the UK, announces the results of the Bookbuild which together with the Subscription and other direct subscriptions has raised gross proceeds of £41,369,718. \n \nThe Company has placed 59,746,113 Ordinary Shares with new institutional investors and existing shareholders pursuant to the Placing at a price of £0.18 per share (the \"Issue Price\"), raising gross proceeds of £10,754,300, a further 162,712,757 new Ordinary Shares pursuant...