Warrant Exercise and Morrow update
GreenRoc Strategic Materials Plc has announced the exercise of warrants, raising £230,769 through the issuance of 11,538,461 new ordinary shares at 2 pence each, with these shares expected to be admitted to trading on AIM around May 13, 2026. The company also noted the bankruptcy filing of Morrow Batteries ASA, a party with whom GreenRoc had a non-binding MoU, but stated this has minimal impact on GreenRoc's position as a future producer of graphite active anode material, highlighting the significant European demand for such materials and the current lack of local production capacity. Following the warrant exercise, GreenRoc's total issued share capital will be 295,234,168 ordinary shares.
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Exercise of Warrants
GreenRoc Strategic Materials Plc (AIM: GROC), a company focused on the development of critical mineral projects in Greenland, announces receipt of a notice to exercise warrants over a total of 11,538,461 new ordinary shares of 0.1 pence each in the Company ("Warrant Shares") at an exercise price of 2 pence per Share, raising £230,769 for the Company.
Morrow Batteries ASA
The Company also notes that on 6 May 2026, Morrow Batteries ASA ("Morrow") in Norway announced a filing for bankruptcy. GreenRoc had previously announced on 4 December 2024 that it had signed a non-binding MoU with Morrow, however the Directors consider that the recent news from Morrow has minimal influence over GreenRoc's position as a future producer of graphite active anode material.
Over the coming decade, there is well over 1TWh battery production capacity already planned in Europe (see map below), which in turn will require roughly 1 million tonnes of graphite anode material. In Europe, there is currently no production capacity for natural graphite active anode material.
We are hopeful that Morrow will find the necessary capital to successfully restructure and join the growing club of battery producing companies such as LG Energy Solutions (Poland) and VW's PowerCo, which recently opened for production in Salzgitter, Germany.
Admission and Voting Rights
Application will be made for the 11,538,461 Warrant Shares issued in respect of the notice of exercise of warrants to be admitted to trading on AIM, which is expected to occur on or around 13 May 2026 ("Admission"). The Warrant Shares will rank pari passu in all respects with the ordinary shares of the Company currently traded on AIM.
Following Admission, the Company's issued share capital will comprise 295,234,168 ordinary shares of 0.1p each. This number will represent the total voting rights in the Company and may be used by shareholders as the denominator for the calculation by which they can determine if they are required to notify their interest in, or a change to their interest in, the Company under the Financial Conduct Authority's Disclosure and Transparency Rules.
Source: RWTH Aachen University, March 2026
| Investor questions on this announcement We encourage all investors to share questions on this announcement via our investor hub [insert link] | https://greenrocplc.com/link/ya292e |
| GreenRoc Strategic Materials Plc Stefan Bernstein, CEO | info@greenrocplc.com +44 20 3950 0724 |
| Cairn Financial Advisers LLP (Nomad) Sandy Jamieson / Louise O'Driscoll | +44 20 7213 0880 |
| Oberon (Broker) Nick Lovering/Adam Pollock | +44 20 3179 5300 |
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.