CLN Conversion

In brief · summary, not quotable

Aterian Plc has announced the early conversion and redemption of £50,000 of its Convertible Loan Notes, resulting in the issuance of 200,000 new ordinary shares at a conversion price of 25 pence per share. These new shares will rank pari passu with existing shares and are expected to be admitted to trading on August 19, 2026. Following this conversion, the Company's total voting rights will increase to 19,700,000 ordinary shares, with no shares held in treasury.

Full announcement

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Aterian Plc (LSE: ATN), the Africa-focused critical minerals exploration, development and trading company, announces the early conversion and redemption of a portion of outstanding Convertible Loan Notes ("CLN") through the issue of new ordinary shares in the Company following a conversion notice from a CLN holder.

The Company has approved the redemption and conversion of £50,000 of the CLN, pursuant to their terms.

The conversion amount will be satisfied through the issue of 200,000 new ordinary shares of £0.10 each in the capital of the Company ("Ordinary Shares") at a conversion price of 25 pence per Ordinary Share (the "Conversion Shares"). The Conversion Shares will rank pari passu in all respects with the Company's existing Ordinary Shares. Application will be made for the Conversion Shares to be admitted to trading on 19 August 2026.

Total Voting Rights

Following Admission of the Conversion Shares, the Company will have 19,700,000 Ordinary Shares in issue, each carrying one voting right. The Company does not hold any Ordinary Shares in treasury.

Accordingly, the total number of voting rights in the Company will be 19,700,000. Shareholders may use this figure as the denominator for calculations by which they determine whether they are required to notify their interest in, or change to their interest in, the Company's share capital under the FCA's Disclosure Guidance and Transparency Rules.

For further information, please visit the Company's website: www.aterianplc.com or contact:

Aterian Plc:

Charles Bray, Executive Chairman - charles.bray@aterianplc.com

Simon Rollason, Director - simon.rollason@aterianplc.com

Financial Adviser and Joint Broker:

AlbR Capital Limited

David Coffman / Dan Harris

Colin Rowbury

Joint Broker:

SP Angel Corporate Finance LLP

Ewan Leggat / Devik Mehta

Financial PR:

Bald Voodoo - ben@baldvoodoo.com

Ben Kilbey

Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.