Statement re Possible Offer
Quantuma Advisory Limited, as joint administrator for The 79th Grp Limited, has been approached by a potential purchaser for a controlling interest in First Class Metals PLC, which holds 78,552,084 ordinary shares representing approximately 33.5% of the issued share capital. Discussions are ongoing to find purchasers for the remaining shares, which could be all or part of the 79Grp Shares, potentially carrying less than 30% of the voting rights. An offer period has commenced for First Class Metals, which currently has 233,932,820 ordinary shares in issue.
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596/2014 (THE "UK MAR") WHICH IS PART OF UK LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018.
Potential Disposal of a Controlling Interest
Quantuma Advisory Limited (Quantuma), in its capacity as joint administrators of The 79th Grp Limited (79th Grp) alongside Kroll Advisory Limited (the Joint Administrators) notes that, per the Progress Report filed with Companies House on 24 November 2025, Quantuma are currently in control of the 78,552,084 ordinary shares representing approximately 33.5% of the entire issued share capital in First Class Metals PLC (First Class Metals, FCM or the Company), the UK-listed exploration company advancing high-grade, district-scale gold opportunities in Ontario, Canada (the 79Grp Shares).
The Joint Administrators have been approached by a potential purchaser for a part of the 79Grp Shares but have not yet entered into discussions with any potential purchaser to purchase a controlling interest and there is no guarantee that either a controlling interest or otherwise will be sold or acquired. FCM is informed that the Joint Administrators are seeking further potential purchasers to acquire the remaining interest which may be either (i) all of the remaining 79Grp Shares; or (ii) part of the 79Grp Shares, which would carry in aggregate less than 30% of the voting rights of the Company.
There can be no certainty that any firm offer will be made by the potential purchasers and a further announcement will be made as and when appropriate.
As a consequence of this announcement, an Offer Period has commenced for the Company.
Disclosure Requirements
Rule 2.4 Information
In accordance with Rule 2.4(c)(iii) of the Code, the potential purchasers must disclose any dealings in the Company shares that would require them to offer a minimum level, or a particular form, of consideration under Rule 6 or Rule 11 of the Code (as appropriate) and all persons acting in concert with them prior to the date of this announcement in order to confirm whether any details are required to be disclosed under Rule 2.4(c)(iv) of the Code. To the extent that any such details are identified, the potential purchasers shall make an announcement disclosing such details as soon as practicable, and in any event by no later than the time they are required to make their Opening Position Disclosure under Rule 8.1 of the Code.
Rule 26.1 Disclosure
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.