Tungsten West PLCLSE: TUN

Tungsten West: Capital Reduction

· Issued by Tungsten West PLC via RNS

Summary by 6ix AI

Tungsten West, owner and operator of the Hemerdon tungsten and tin mine in Devon, UK, said the High Court of Justice of England and Wales sanctioned the cancellation of the amount standing to the credit of its share premium account following a confirmation hearing on November 3, 2026.

Key details

  • A share premium account records amounts shareholders paid for shares above their nominal value; the capital reduction cancels the amount standing to the credit of that account.
  • Shareholders approved the capital reduction by special resolution at the Annual General Meeting on September 29, 2026.
  • The number of shares admitted to trading will be unchanged by the capital reduction.
  • The company says the capital reduction will enable it to pay dividends and make other distributions to shareholders in the future, but there is no assurance it will make any such distributions or as to their timing or amount.

What’s still pending

  • The capital reduction becomes effective only when the Registrar of Companies in England and Wales registers the Court order and accompanying statement of capital, which is expected within a few days of November 5, 2026.

6ix AI wrote this summary from the release below and checked it against the release.

On 6ix: 6ix.com/news/capital-reduction-24

Watch Tungsten West's latest callTungsten West (LSE:TUN) — Investor Presentation and Q&A · Replay · Sep 12, 2025Read the transcript of Tungsten West (LSE:TUN) — Investor Presentation and Q&A
Tungsten West PLC
05 November 2026
 

5 November 2026

Tungsten West Plc

(“Tungsten West”, the “Company” or the “Group”)

Capital Reduction

Tungsten West (AIM: TUN), the owner and operator of the Hemerdon tungsten and tin mine ("Hemerdon" or the "Project") in Devon, UK, announces that, following the confirmation hearing held on 3 November 2026, the High Court of Justice of England and Wales has sanctioned the proposed cancellation of the amount standing to the credit of the Company’s share premium account (the “Capital Reduction”).

The Capital Reduction was approved by shareholders via a special resolution at the Annual General Meeting on 29 September 2026.

The Capital Reduction will become effective upon registration of the Court order and accompanying statement of capital by the Registrar of Companies in England and Wales, which is expected to occur within the next few days. The number of shares admitted to trading will be unchanged by the Capital Reduction.

The Capital Reduction will enable the Company to pay dividends and make other distributions to shareholders of the Company in the future. However, there can be no assurance that the Company will make any such distributions or returns of value or as to the timing or amount.

Ends

For further information, please contact:

Tungsten West

Jeff Court, Chief Executive Officer

Phil Povey, Chief Financial Officer

Tel: +44 (0) 1752 278500

Strand Hanson Limited

(Nominated Adviser and Financial Adviser)

James Spinney / James Dance / Abigail Wennington

Tel: +44 (0) 207 409 3494

BlytheRay

(Financial PR)

Megan Ray / Rachael Brooks

Tel: +44 (0) 20 7138 3204

Email: tungstenwest@blytheray.com

Hannam & Partners

(Joint Broker)

Andrew Chubb / Matt Hasson

Tel: +44 (0) 20 7907 8500

Investec Bank plc

(Joint Corporate Broker)

Ben Lawrence / Charles Craven / Gordon Hamilton

+44 (0) 20 7597 5970

Zeus Capital Limited

(Joint Broker)

Harry Ansell / Katy Mitchell

Tel: +44 (0) 20 3829 5000

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END
 
 

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