Directors' Subscriptions
Directors subscribed for 30 million shares at 0.05p per share, raising £15,000.
- Amount raised £15,000
- Subscription shares issued 30,000,000
- Price per share 0.05 pence
- Enlarged issued share capital 7,154,355,727 ordinary shares
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Further to the Company's announcement of a Placing on 4 June 2026 (the "Placing" and the "Placing Announcement") and following the release of its Interim Results on 23 June 2026, Tertiary Minerals plc (AIM: TYM) is pleased to announce that it has now raised the £15,000 (before expenses) from certain directors of the Company as notified in the Placing Announcement.
Consequently, a further 30,000,000 new ordinary shares of 0.01 pence each in the Company (the "Subscription Shares") have been issued to certain directors at a price of 0.05 pence per share as detailed below (the "Directors' Subscriptions").
| Holding prior to Directors' Subscriptions | Number of Subscription Shares acquired pursuant to the Directors' Subscriptions | Holding immediately following Admission of the Subscription Shares | |||
|---|---|---|---|---|---|
| Number of Ordinary Shares | % of issued share capital | Number of Ordinary Shares | Number of Ordinary Shares | % of issued share capital | |
| Richard Belcher Managing Director | 43,640,657 | 0.61% | 10,000,000 | 53,640,657 | 0.75% |
| Mike Armitage, Non-Executive Director | 8,823,529 | 0.12% | 20,000,000 | 28,823,529 | 0.40% |
As directors of the Company, Dr Belcher and Dr Armitage are "related parties" of the Company under the AIM Rules for Companies (the "AIM Rules"). As a result, the Directors' Subscriptions constitute a related party transaction pursuant to Rule 13 of the AIM Rules.
Messrs Cheetham and McAlister, being the independent Directors of the Directors' Subscription, having consulted with the Company's Nominated Adviser, SP Angel Corporate Finance LLP, are satisfied that the terms of the Directors' Subscriptions are fair and reasonable insofar as the Company's shareholders are concerned. The Directors' Subscriptions have been made on the same terms as the Placing.
Admission
The Subscription Shares will rank pari passu with the Company's existing ordinary shares. An application has been made to the London Stock Exchange for admission of the Subscription Shares to trading on AIM. Admission is expected to occur at 8.00 a.m. on or around 3 July 2026.
Use of Proceeds
As per the Placing, the net funds raised will be applied to drilling and technical studies at the Mushima North Target A1 silver oxide discovery with the aim of producing a maiden JORC Mineral Resource Estimate for this by the end of 2026 and for general working capital.
Total Voting Rights
Following Admission of the Subscription Shares the Company's enlarged issued share capital will be 7,154,355,727 ordinary shares.
The Company holds no ordinary shares in treasury. The total number of voting rights in the Company is therefore 7,154,355,727 and this figure may be used by shareholders as the denominator for the calculations by which they determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.
| a) | Name: | D r. Richard Belcher | ||||
| 2. | Reason for the notification | |||||
| a) | Position/status: | Managing Director | ||||
| b) | Initial notification/Amendment: | Initial notification | ||||
| a) | Name: | Tertiary Minerals plc | ||||
| b) | LEI: | 213800OT9C6DQN9VO543 | ||||
| a) | Description of the financial instrument, type of instrument: Identification code: | Ordinary Shares of 0.01p each GB0008854563 | ||||
| b) | Nature of the transaction: | Issue of shares as part of Director Subscription | ||||
| c) | Price(s) and volume(s): |
| ||||
| d) | Aggregated information: Aggregated volume: Price: | Single transaction as in 4 c) above Price(s) Volume(s) 0.05 pence 10,000,000 | ||||
| e) | Date of the transaction: | 29 June 2026 07:00 BST | ||||
| f) | Place of the transaction: | Outside a trading venue | ||||
| 1. | Details of the person discharging managerial responsibilities/person closely associated | |||||
| a) | Name: | Dr. Mike Armitage | ||||
| 2. | Reason for the notification | |||||
| a) | Position/status: | Non-Executive Director | ||||
| b) | Initial notification/Amendment: | Initial notification | ||||
| a) | Name: | Tertiary Minerals plc | ||||
| b) | LEI: | 213800OT9C6DQN9VO543 | ||||
| a) | Description of the financial instrument, type of instrument: Identification code: | Ordinary Shares of 0.01p each GB0008854563 (Ordinary Shares) | ||||
| b) | Nature of the transaction: | Issue of shares as part of Director Subscription | ||||
| c) | Price(s) and volume(s): |
| ||||
| d) | Aggregated information: Aggregated volume: Price: | Single transaction as in 4 c) above Price(s) Volume(s) 0.05 pence 20,000,000 | ||||
| e) | Date of the transaction: | 29 June 2026 07:00 BST | ||||
| 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.