Issue of Equity
Ferro-Alloy Resources Limited has successfully raised £1,574,193.55 through the issuance of 28,621,701 ordinary shares at 5.5p each, a 21.4% discount to the previous day's closing price. This equity raise, which includes participation from strategic shareholder Vision Blue Resources Limited, will fund the commencement of front-end engineering and design activities for the Balasausqandiq vanadium project. Following the admission of these new shares on March 13, 2026, the company's total issued share capital will be 587,751,330 ordinary shares.
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Ferro-Alloy Resources Limited (LSE:FAR), the vanadium producer and developer of the large Balasausqandiq vanadium deposit in Southern Kazakhstan (the "Project"), is pleased to announce that it has issued a total of 28,621,701 ordinary shares of nil par value in the capital of the Company ("New Shares"), raising gross proceeds of £1,574,193.55, having received share subscriptions from investors including the Company's strategic shareholder Vision Blue Resources Limited ("VBR"). The New Shares are being issued under existing shareholder authority granted at the Company's 2025 Annual General Meeting held on 14 November 2025.
Commenting, Nick Bridgen, CEO of Ferro-Alloy Resources, said:
"This small equity raise provides the Company with the immediate capital required to commence front‑end engineering and design (FEED) activities, an important phase that will help refine the technical scope, cost estimates and execution plan for the Project. In parallel to this, we are continuing with a number of positive discussions around the greater funding required for the development of the full Project, and I look forward to updating shareholders on this in due course."
Issue of equity
The Company has issued a total of 28,621,701 ordinary shares of nil par value in the capital of the Company, raising gross proceeds of £1,574,193.55.
The New Shares are being issued at 5.5p per share representing a 21.4% discount to the Company's closing mid-market share price as at 9 March 2026. The New Shares are being issued under existing shareholder authority granted at the Company's 2025 Annual General Meeting held on 14 November 2025.
Material related party transaction
Participation by VBR in the share issue constitutes a material related party transaction pursuant to the Disclosure, Guidance and Transparency Rules. The Independent Directors have considered the terms of the transaction and have concluded they are fair and reasonable insofar as shareholders are concerned (VBR is a person closely associated with the Company's Chairman, Sir Mick Davis).
Having subscribed for 6,439,883 New Shares, VBR will hold 132,245,857 Ordinary Shares, representing 22.5% of the issued share capital of the Company.
Admission
An application has been made to the London Stock Exchange for the New Shares to be admitted to trading on its Main Market for listed securities ("Admission"). It is anticipated that Admission will become effective, and that dealings in the New Shares will commence at or around 8.00 a.m. GMT on 13 March 2026.
Total voting rights
Following Admission of the New Shares, the Company's issued ordinary share capital will comprise 587,751,330 Ordinary Shares, with none held in treasury, and therefore, the total number of Ordinary Shares in the Company with voting rights will be 587,751,330. 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 share capital of the Company under the applicable legal and regulatory requirements.
| a) | Name | Vision Blue Resources Limited |
| 2 | Reason for the notification | |
| b) | Initial notification /Amendment | Initial notification |
| a) | Name | FERRO-ALLOY RESOURCES LIMITED |
| b) | LEI | 2138003T5CF6U9W7Z780 |
| a) | Description of the financial instrument, type of instrument | Ordinary Shares |
| Identification code | GG00BGDYDZ69 | |
| b) | Nature of the transaction | Share subscription |
| c) | Price(s) and volume(s) | |
| Price(s) | Volume(s) | |
| 5.5p | 6,439,883 | |
| d) | Aggregated information | |
| - Aggregated volume | N/A Single transaction | |
| - Price | ||
| e) | Date of the transaction | 10 March 2026 |
| f) | Place of the transaction | London Stock Exchange |
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.