Technology Minerals - Settlement of CLG Convertible Loan Notes
The information contained within this announcement is deemed to constitute inside information as stipulated under the retained EU law version of the Market Abuse Regulation (EU) No. 596/2014 (the "
Technology Minerals Plc
("Technology Minerals" or the "Company")
Settlement of CLG Convertible Loan Notes - Completion of Balance Sheet Restructuring
Technology Minerals Plc (LSE: TM1), the
Highlights
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Settlement of the CLG position for |
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Completes the restructuring of the Company's principal legacy CLN liabilities |
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Across the three principal CLN positions ( |
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Combined with earlier capitalisations and cash settlements, the residual legacy CLN exposure has been reduced from |
Completion of legacy CLN restructuring
The CLG settlement represents an important step in the repositioning of the Company - the final element of the Company's restructuring of its legacy convertible loan notes. As previously announced, settlements have already been concluded with
The Board considers that this completes the initial phase of the Company's balance sheet reset and provides a cleaner, more sustainable capital structure from which to execute the Mantle strategy.
CLG settlement
The Company had previously received approximately
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The total settlement sum is |
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The Company will make a further announcement about arrangements for the delivery of the ordinary Shares and the resulting total voting rights.
Further announcements will be made as appropriate in respect of the issue of shares and any related total voting rights updates.
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Technology Minerals Plc
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c/o +44 (0)20 4582 3500 |
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Oberon Investments Limited
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+44 (0)20 3179 5300 |
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Gracechurch Group (Financial PR) Harry Chathli, |
+44 (0)20 4582 3500 |
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About Technology Minerals Plc
Technology Minerals is developing the
Technology Minerals' Mantle Strategy
The Mantle strategy is Technology Minerals' repositioning as a listed national resilience company, built on the conviction that the private sector must play a central role in securing the
Mantle is executed across three pillars: Natural Resources (domestic reclamation, extraction, international exploration and stockpiling, anchored by Recyclus Group and the Company's mineral exploration assets); Critical Capabilities (foundational midstream and downstream capacity); and an Enabling Ecosystem (the partnerships and investments needed to pre-empt emerging requirements). Delivery will begin with a consolidation phase that resets the balance sheet and catalyses existing assets, followed by execution of a near-term pipeline of value-accretive opportunities - several revenue-generating and aligned with
Further information on Technology Minerals is available at www.technologyminerals.co.uk
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