Form 8 - De Heerd
De Heerd Investment Limited has disclosed its opening positions in ACG Metals Limited as of December 10, 2025, holding 1,638,577 Class A Ordinary Shares, representing 7.19% of the class, and 1,550,682 sponsor warrants, representing 36.63%. There are no disclosed short positions, rights to subscribe for new securities, or agreements relating to options or derivatives.
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Rules 8.1 and 8.2 of the Takeover Code (the "Code")
KEY INFORMATION
| (a) Full name of discloser: | De Heerd Investment Limited |
| (c) Name of offeror/offeree in relation to whose relevant securities this form relates: Use a separate form for each offeror/offeree | ACG Metals Limited |
| (d) Is the discloser the offeror or the offeree? | |
| (e) Date position held: The latest practicable date prior to the disclosure | December 10, 2025 |
POSITIONS OF THE PARTY TO THE OFFER MAKING THE DISCLOSURE
| Class of relevant security: | Class A Ordinary Shares | ||
|---|---|---|---|
| Interests | Short positions | ||
| Number | % | Number | % |
| (1) Relevant securities owned and/or controlled: | 1,638,577 | 7,19 |
- Cash-settled derivatives:
- Stock-settled derivatives (including options) and agreements to purchase/sell:
| Class of relevant security: | Class A Ordinary Shares | ||
|---|---|---|---|
| Interests | Short positions | ||
| Number | % | Number | % |
| TOTAL: | 1,638,577 | 7,19 | |
| Class of relevant security: | Sponsor warrants | ||
| Interests | Short positions | ||
| Number | % | Number | % |
| (1) Relevant securities owned and/or controlled: | 1,550,682 | 36.63 |
- Cash-settled derivatives:
- Stock-settled derivatives (including options) and agreements to purchase/sell:
| TOTAL: | 1,550,682 | 36.63 |
All interests and all short positions should be disclosed.
Rights to subscribe for new securities
| Class of relevant security in relation to which subscription right exists: | N/A |
| Details, including nature of the rights concerned and relevant percentages: | N/A |
- POSITIONS OF PERSONS ACTING IN CONCERT WITH THE PARTY TO THE OFFER MAKING THE DISCLOSURE
N/A
- OTHER INFORMATION
- Indemnity and other dealing arrangements
N/A
- Agreements, arrangements or understandings relating to options or derivatives
N/A
Attachments
Are any Supplemental Forms attached?
| Supplemental Form 8 (Open Positions) | NO |
| Supplemental Form 8 (SBL) | NO |
| Date of disclosure: | December 10, 2025 |
Public disclosures under Rule 8 of the Code must be made to a Regulatory Information Service.
The Code can be viewed on the Panel's website at www.thetakeoverpanel.org.uk.
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