Result of General Meeting
Firering Strategic Minerals PLC announced that all resolutions were passed at its General Meeting, including the authorization for directors to allot up to 450,000,000 ordinary shares and the ratification of past share issuances. Following the meeting, 214,100,000 Placing Shares, 35,900,000 Subscription Shares, and 6,878,598 Service Provider Fee Shares were allotted, alongside 250,000,000 Placing Warrants and 12,846,000 warrants to Shard Capital. Directors Youval Rasin, Shai Kol, and Vassilios Carellas subscribed for 7,000,000, 5,000,000, and 1,000,000 shares respectively, with their resultant holdings and percentage of the enlarged share capital detailed. Admission of the new shares to AIM is expected on or around May 19, 2026, bringing the total issued ordinary shares to 656,032,890.
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Firering Strategic Minerals plc (AIM: FRG), an emerging producer of quicklime and explorer of critical minerals, announces that at the General Meeting held earlier today, all the resolutions were passed.
| For | % For | Against | % Against | Withheld | |
|---|---|---|---|---|---|
| 1. SPECIAL RESOLUTION That the Directors be authorised pursuant to the provisions of 60B(5) and 59A of the Cyprus Companies Law, Cap. 113, as amended (the "Companies Law") to allot shares ("Shares") in the Company or grant rights to subscribe for or to convert any security into shares ("Rights") in the Company as if Section 60B of the Companies Law did not apply to such allotment provided that this power shall be limited to up to an aggregate of 450,000,000 ordinary shares in the capital of the Company. | 78,499,888 | 97.89 | 1,688,230 | 2.11 | 0 |
| 2.SPECIAL RESOLUTION That the issue of 103,199,903 Shares and/or Rights since the annual general meeting of the Company held on 24 July 2025 in excess of authorities given at that annual general meeting be and is hereby ratified for the purposes of the provisions of the Companies Law. | 78,499,888 | 97.89 | 1,688,230 | 2.11 | 0 |
| 3) ORDINARY RESOLUTION That the authorised ordinary share capital of the Company be increased to 1,000,000,000 ordinary shares effective from the date of this resolution. The authorised ordinary share capital will be increased to €1,000,000 divided into 1,000,000,000 ordinary shares of €0.001 each. | 78,499,888 | 97.89 | 1,688,230 | 2.11 | 0 |
Allotment of Shares and issue of Warrants
At a Board meeting held following the General Meeting, 214,100,000 Placing Shares, 35,900,000 Subscription Shares and 6,878,598 Service Provider Fee Shares (together the "New Shares") have been allotted.
In addition, 250,000,000 Placing Warrants have been issued to subscribers in the Placing and Subscription, and 12,846,000 warrants have been issued to Shard Capital, as set out in the notification of 24 April 2026.
Directors' shareholdings
Included in the above allotments are the following shares subscribed by certain Directors of the Company. The table below shows the number of shares allotted and the resultant holdings of the each of these Directors.
| Related Party | Number of New Shares issued | Number of Ordinary Shares held upon Admission | % of Enlarged Share Capital |
|---|---|---|---|
| Youval Rasin | 7,000,000 | 40,004,795* | 6.10% |
| Shai Kol | 5,000,000 | 18,629,888 | 2.84% |
| Vassilios Carellas | 1,000,000 | 2,474,043 | 0.38% |
* 13,466,666 of Mr Rasin's shareholding post Admission set out above are held by Clearglass Investments Limited, a company in which Mr Rasin is a director and shareholder.
Admission and Total Voting Rights
Application has been made to the London Stock Exchange for admission of the New Shares to trading on AIM. It is expected that admission will become effective and dealings in the New Shares will commence on AIM at 8.00 a.m. on or around 19 May 2026.
Following Admission, the total number of Ordinary Shares in the capital of the Company in issue will be 656,032,890 with voting rights. This figure may be used by Shareholders 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's issued share capital pursuant to the Company's articles of association.
Capitalised terms used but not otherwise defined in this announcement shall have the meanings ascribed to such terms in the Company's announcement made at 7.00 a.m. on 24 April 2026, unless the context requires otherwise.
Firering Strategic Minerals plc (AIM: FRG) is an Africa-focused producer and developer of industrial and critical minerals. The Company's near-term focus is the ramp-up of production at the Limeco project in Zambia, where Firering holds a 36.2% interest with an option to increase this to 45%. Once fully optimised, Limeco is expected to be among the largest lime operations in the region, supplying a range of mining, agricultural and industrial customers. Firering's portfolio also includes the highly prospective Atex Lithium-Tantalum Project in northern Côte d'Ivoire.
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |
| a) | Name | Youval Raisin |
| 2 | Reason for the notification | |
| a) | Position/status | Chairman |
| b) | Initial notification /Amendment | Initial notification |
| a) | Name | Firering Strategic Minerals PLC |
| b) | LEI | 2138005GMF9GR4W9MN36 |
| a) | Description of the financial instrument, type of instrument | Ordinary Shares of €0.001 each in the share capital of Firering Strategic Minerals PLC |
| Identification code | ||
| b) | Nature of the transaction | (i) Subscription for Ordinary Shares, and (ii) Issue of Warrants |
| c) | Price(s) and volume(s) | Shares |
| Price(s) | Volume(s) | |
| 1 pence | 7,000,000 | |
| Warrants | 7,000,000 | |
| d) | Aggregated information | |
| - Aggregated volume | N/A | |
| - Price | ||
| e) | Date of the transaction | 18 May 2026 |
| f) | Place of the transaction | Outside a trading venue |
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |
| a) | Name | Vassilios Carellas |
| 2 | Reason for the notification | |
| a) | Position/status | Independent Non-Executive Director |
| b) | Initial notification /Amendment | Initial notification |
| a) | Name | Firering Strategic Minerals PLC |
| b) | LEI | 2138005GMF9GR4W9MN36 |
| a) | Description of the financial instrument, type of instrument | Ordinary Shares of €0.001 each in the share capital of Firering Strategic Minerals PLC |
| Identification code | ||
| b) | Nature of the transaction | (i) Subscription for Ordinary Shares, and (ii) Issue of Warrants |
| c) | Price(s) and volume(s) | Shares |
| Price(s) | Volume(s) | |
| 1 pence | 1,000,000 | |
| Warrants | 1,000,000 | |
| d) | Aggregated information | |
| - Aggregated volume | N/A | |
| - Price | ||
| e) | Date of the transaction | 18 May 2026 |
| f) | Place of the transaction | Outside a trading venue |
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |
| a) | Name | Yehoshua Shai Kol |
| 2 | Reason for the notification | |
| a) | Position/status | Chief Financial Officer |
| b) | Initial notification /Amendment | Initial notification |
| a) | Name | Firering Strategic Minerals PLC |
| b) | LEI | 2138005GMF9GR4W9MN36 |
| a) | Description of the financial instrument, type of instrument | Ordinary Shares of €0.001 each in the share capital of Firering Strategic Minerals PLC |
| Identification code | ||
| b) | Nature of the transaction | (i) Subscription for Ordinary Shares, and (ii) Issue of Warrants Subscription for Ordinary Shares |
| c) | Price(s) and volume(s) | Shares |
| Price(s) | Volume(s) | |
| 1 pence | 5,000,000 | |
| Warrants | 5,000,000 | |
| d) | Aggregated information | |
| - Aggregated volume | N/A | |
| - Price | ||
| e) | Date of the transaction | 18 May 2026 |
| f) | Place of the transaction | Outside a trading venue |
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.