Result of WRAP Retail Offer, Issue of Equity & TVR

In brief · summary, not quotable

Oversubscribed retail offer raising £400,000; total of 16m new shares issued at increased allocation.

WRAP Retail Offer proceeds £400,000
Ambeon and Sheffield subscriptions US$2.267 million
New ordinary shares issued (WRAP) 16,000,000
Total issued shares after Second Admission 428,835,261

Full announcement

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Capital Metals (AIM: CMET), a mineral sands company approaching mine development stage at the high-grade Taprobane Minerals Project in Sri Lanka (the "Project"), is pleased to announce the result of the substantially oversubscribed WRAP Retail Offer in addition to the US$2.267 million proceeds from the Ambeon Subscription and the Sheffield Subscription announced on 29 May 2025.

Due to the significant level of demand, the Company is increasing the amount it will accept from the WRAP Retail Offer to £400,000 to meet some of the additional demand balanced by not issuing too much equity at this share price level. Accordingly, the Company will issue a total of 16,000,000 new Ordinary shares at the Issue Price pursuant to the WRAP Retail Offer.

Admission and Total Voting Rights

Admission of the WRAP Retail Offer Shares is conditional on admission of the Ambeon Subscription Shares (as defined in the announcement issued at 7 a.m. BST on 29 May 2025) which is expected to occur at 8 a.m. on or around 4 June 2025 ("First Admission"). It is anticipated that admission of the WRAP Retail Offer Shares ("Second Admission") will become effective and that dealings in the WRAP Retail Offer Shares will commence on AIM at 8 a.m. on or around 6 June 2025.

Upon Second Admission, the Company's issued Ordinary share capital will consist of 428,835,261 Ordinary shares with one voting right each. The Company does not hold any Ordinary shares in treasury. . With effect from Second Admission, this figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.

The new Ordinary shares to be issued pursuant to the WRAP Retail Offer will be issued free of all liens, charges and encumbrances and will, on Second Admission, rank pari passu in all respects with the new Ordinary shares to be issued pursuant to the Ambeon Subscription, the Sheffield Subscription and the Company's existing Ordinary shares.

Terms used but not defined in this announcement have the same meaning as set out in the Company's announcements released at 7 a.m. and/or 7.15 a.m. BST on 29 May 2025.

X: @MetalsCapital

LinkedIn: @Capital Metals plc

The Company's LEI number is: 213800RR4MW1ETEMS859

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