Last checked at 30 Jan 2024 08:00
30 January 2024
Critical Mineral Resources PLC
('CMR' or the 'Company')
PDMR Dealing & KM Securities Pty Ltd
Critical Mineral Resources plc ('CMR' or the 'Company), the exploration and development company focused on clean energy metals in Morocco, announces it was notified today that on 26 January 2024, KM Securities Pty Ltd ("KM Securities"), in which Russell Thomson, a Non-Executive Director of the Company is a 50% shareholder, acquired 10,000,000 ordinary shares in the Company at a price of 3.75p per share.
Following this purchase, KM Securities' total ownership in the Company represents 16.3% of the Company's issued ordinary share capital. As a result, Russell Thomson's total beneficial interest in the Company is 5,000,000 Ordinary Shares, representing 8.2% of the Company's total ordinary shares and 9.9% of the total voting rights* of the Company. KM Securities is an investment vehicle founded and co-owned by Russell Thomson and Michael Naylor.
Simultaneously, the Company was informed that EV Metals Group Plc has sold its 16.3% holding in the Company.
Charlie Long, Chief Executive Officer of CMR PLC, commented:
"I am delighted to welcome KM Securities to the register. It brings significant experience supporting and developing mineral companies focused on critical materials and clean energy commodities. We very much look forward to working together."
*the Company holds 10,685,313 ordinary shares in treasury and is not permitted to exercise the voting rights attached to these shares. Total Voting Rights (TVR) calculations should be based on 50,525,945.
Critical Mineral Resources plc Charles Long, Chief Executive Officer | info@cmrplc.com
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Novum Securities Jon Belliss | +44 (0) 20 7399 9425 |
Hudson Sandler (Financial PR) Charlie Jack | +44 (0) 207 796 4133 |
Notes To Editors
Critical Mineral Resources (CMR) plc is an exploration and development company focused on developing assets that produce key commodities essential for renewable energy, battery storage and electrification to support the clean energy revolution. These commodities are widely recognised as being at the start of a supply and demand supercycle.
CMR is building a diversified portfolio of high-quality metals exploration and development projects in Morocco, focusing on copper, nickel, manganese, cobalt, and potentially rare earths. CMR identified Morocco as an ideal mining-friendly jurisdiction that meets its acquisition and operational criteria. The country is perfectly located to supply raw materials to Europe and possesses excellent prospective geology, infrastructure and attractive permitting, tax and royalty conditions. In 2023, the Company acquired an 80% stake in leading Moroccan exploration and geological services company Atlantic Research Minerals SARL.
Since taking over the CMR in 2022, the current management has completed a comprehensive strategic review and restructuring of the business and implemented its clear strategy to maximise exploration and resource development opportunities for the benefit of all stakeholders. The Company is listed on the London Stock Exchange (CMRS.L). More information regarding the Company can be found at www.cmrplc.com