Holding(s) in Company
Drakewood Capital Management Limited has increased its holding in Tungsten West PLC, crossing a notification threshold on February 24, 2026. The firm now holds 9.33% of the voting rights, representing 100,239,160 shares, up from a previous holding of 4.65%. This change is due to the conversion of B Shares to Ordinary Shares, as detailed in the company's Articles of Association. David Lilley, the ultimate controlling party, holds 0.67% of the voting rights.
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Non-UK issuer
- Reason for the notification (please mark the appropriate box or boxes with an "X")
| An acquisition or disposal of voting rights | X |
An acquisition or disposal of financial instruments
An event changing the breakdown of voting rights
Other (please specify) iii :
Details of person subject to the notification obligation iv
| Name | Drakewood Capital Management Limited |
| City and country of registered office (if applicable) | London, United Kingdom |
Full name of shareholder(s) (if different from 3.) v
Name
City and country of registered office (if applicable)
| 5. Date on which the threshold was crossed or reached vi : | 24-Feb-2026 |
| 6. Date on which issuer notified (DD/MM/YYYY): | 24-Feb-2026 |
- Total positions of person(s) subject to the notification obligation
| % of voting rights attached to shares (total of 8. A) | % of voting rights through financial instruments (total of 8.B 1 + 8.B 2) | Total of both in % (8.A + 8.B) | Total number of voting rights held in issuer (8.A + 8.B) vii | |
|---|---|---|---|---|
| Resulting situation on the date on which threshold was crossed or reached | 9.33% | 0 | 9.33% | 100,239,160 |
| Position of previous notification (if applicable) | 4.65% | 0 | 4.65% | |
| A: Voting rights attached to shares | ||||
| Class/type of shares ISIN code (if possible) | Number of voting rights ix | % of voting rights | ||
| Direct (DTR5.1) | Indirect (DTR5.2.1) | Direct (DTR5.1) | Indirect (DTR5.2.1) | |
| GB00BP6QM557 | 100,239,160 | 0 | 9.33% | 0 |
| SUBTOTAL 8. A | 100,239,160 | 9.33% | ||
| B 1: Financial Instruments according to DTR5.3.1R (1) (a) | ||||
| Type of financial instrument | Expiration date x | Exercise/ Conversion Period xi | Number of voting rights that may be acquired if the instrument is exercised/converted. | % of voting rights |
SUBTOTAL 8. B 1
B 2: Financial Instruments with similar economic effect according to DTR5.3.1R (1) (b)
| Type of financial instrument | Expiration date x | Exercise/ Conversion Period xi | Physical or cash Settlement xii | Number of voting rights | % of voting rights |
|---|---|---|---|---|---|
| B Shares | Physical | 0 | 0% | ||
| SUBTOTAL 8.B.2 | 0 | 0% | |||
| Name xv | % of voting rights if it equals or is higher than the notifiable threshold | % of voting rights through financial instruments if it equals or is higher than the notifiable threshold | Total of both if it equals or is higher than the notifiable threshold | ||
| David Lilley | 0.67% | 0.00% | 0.67% | ||
| Drakewood Capital Management Limited | 8.66% | 0.00% | 8.66% |
In case of proxy voting, please identify:
Name of the proxy holder
The number and % of voting rights held
The date until which the voting rights will be held
Additional information xvi
B Share conversion to Ordinary Shares pursuant to Article 4A.5 of the Company's Articles of Association.
| Place of completion | London, United Kingdom |
| Date of completion | 24 February 2026 |
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.