RNS - Exercise of Warrants6 Mar 2026 07:04
RNS Number : 4924V
Altona Rare Earths PLC
06 March 2026
6 March 2026
ALTONA RARE EARTHS PLC
("Altona" or the "Company")
Exercise of Warrants and Issue of Equity
Altona (LSE: REE), a resource exploration and development company focused on critical raw materials in Africa, is
pleased to announce an exercise of warrants and an issue of equity over ordinary shares of £0.01 each in the
capital of the Company ("Ordinary Shares").
Exercise of Warrants
The Company is pleased to announce that it has received Notices of Exercise from existing shareholders in
respect of 3,733,334 warrants at an exercise price of 2.0 pence per Ordinary Share ("2p Warrants").
Accordingly, a further 3,733,334 new Ordinary Shares will be issued pursuant to these exercises.
This exercise of the 2p Warrants brings in further cash funds of £74,666, which will be used to fund the
fluorspar and gallium resource estimate and scoping study.
In addition, the Company has issued 625,000 new Ordinary Shares to a service provider in lieu of cash
settlement of outstanding fees of £15,000 ("Service shares").
Admission and Total Voting Rights
The Service shares and 2p Warrants are being issued from authorities granted to directors to issue new
Ordinary Shares at the annual general meeting of the Company's shareholders on 26 November 2025.
Application is being made for the New Shares to be admitted to trading on the Main Market of the
London Stock Exchange which is expected to be on or around 9 March 2026. Following this issue of a
further 4,358,334 new Ordinary Shares, which will rank pari passu with the Company's existing Ordinary
Shares, the Company's enlarged share capital and total voting rights in the Company will comprise
383,240,635. The Company has no shares held in Treasury.
This figure of 383,240,635 Ordinary Shares may be used by shareholders in the Company as the
denominator for the calculations by which they will determine if they are required to notify their interest
in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure
Guidance and Transparency Rules.
The information contained within this announcement is deemed by the Company to constitute inside
information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 as it forms part of
United Kingdom domestic law by virtue of the European Union (Withdrawal) Act 2018, as amended by
virtue of the Market Abuse (Amendment) (EU Exit) Regulations 2019.