Sign In
Last checked at 
1 Jul 2025 11:31
("Tertiary" or "the Company")
1 July 2025
Directors' Subscriptions
Further to the Company's announcement of a Placing on 6 June 2025 (the "Placing" and the "Placing Announcement") and following the release of its Interim Results on 27 June 2025, Tertiary Minerals plc (AIM: TYM) is pleased to announce that it has now raised a further £25,000 (before expenses) from certain directors of the Company as notified in the Placing Announcement.
Consequently, a further 83,333,333 new ordinary shares of 0.01 pence each in the Company (the "Subscription Shares") have been issued to certain directors at a price of 0.03 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 | 873,362 | 0.02% | 33,333,333 | 34,206,695 | 0.69% |
Patrick Cheetham, Executive Chairman | 84,639,524* | 1.73% | 33,333,333 | 117,972,857* | 2.38% |
Donald McAlister, Non-Executive Director | 2,937,609 | 0.06% | 16,666,667 | 19,604,276 | 0.40% |
*includes 2,843,625 held by K E Cheetham
As directors of the Company, Messrs Belcher, Cheetham and McAlister are "related parties" of the Company under the AIM Rules for Companies (the "AIM Rules"). As a result, their subscription for the Subscription Shares constitutes a related party transaction pursuant to Rule 13 of the AIM Rules.
Dr. Mike Armitage, being the sole independent Director in the matter of the Directors Subscription, having consulted with the Company's Nominated Adviser, SP Angel Corporate Finance LLP, is satisfied that the terms of the Directors' Subscription 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 7 July 2025.
Use of Proceeds
As per the Placing, the net funds raised by the Directors' Subscriptions will be applied towards drilling at the Company's Mushima North Project and for working capital.
Total Voting Rights
Following Admission of the Subscription Shares the Company's enlarged issued share capital will be 4,963,009,573 ordinary shares.
The Company holds no ordinary shares in treasury. The total number of voting rights in the Company is therefore 4,963,009,573 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.
Market Abuse Regulation
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 UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ('MAR'). Upon the publication of this announcement via Regulatory Information Service ('RIS'), this inside information is now considered to be in the public domain.
Further Information:
Tertiary Minerals plc: | |
Richard Belcher, Managing Director
| +44 (0) 1625 838 679 |
SP Angel Corporate Finance LLP Nominated Adviser and Broker | |
Richard Morrison/Jen Clarke | +44 (0) 203 470 0470 |
Peterhouse Capital Limited Joint Broker | |
Lucy Williams/Duncan Vasey | +44 (0) 207 469 0930 |
About Tertiary Minerals plc
Tertiary Minerals plc (AIM: TYM) is an AIM-traded mineral exploration and development company whose strategic focus is on energy transition metals. The Company's projects are all located in stable and democratic, geologically prospective, mining-friendly jurisdictions. Tertiary's current principal activities are the discovery and development of copper and precious metal mineral resources in Zambia and Nevada.
NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM.
1. | Details of the person discharging managerial responsibilities/person closely associated | |||||||||||||||||||
a) | Name: | 1. Patrick Cheetham 2. Richard Belcher 3. Donald McAlister | ||||||||||||||||||
2. | Reason for the notification | |||||||||||||||||||
a) | Position/status: | 1. Executive Chairman 2. Managing Director 3. Non-Executive Director | ||||||||||||||||||
b) | Initial notification/Amendment: | Initial notification | ||||||||||||||||||
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||||||||||||||
a) | Name: | Tertiary Minerals plc | ||||||||||||||||||
b) | LEI: | 213800OT9C6DQN9VO543 | ||||||||||||||||||
4. | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |||||||||||||||||||
a) | Description of the financial instrument, type of instrument: Identification code: | Ordinary Shares of 0.01 pence each GB0008854563 | ||||||||||||||||||
b) | Nature of the transaction: | Participation in the Placing and Subscription | ||||||||||||||||||
c) | Price(s) and volume(s): | 1. Patrick Cheetham Participation in the Subscription
2. Richard Belcher Participation in the Subscription
3. Donald McAlister Participation in the Subscription
| ||||||||||||||||||
d) | Aggregated information: Aggregated volume: Price: | Participation in the Subscription
| ||||||||||||||||||
e) | Date of the transaction: | 1 July 2025 | ||||||||||||||||||
f) | Place of the transaction: | Outside a trading venue | ||||||||||||||||||
Follow the stocks
