Corporate Update & Board Appointment

Summary by AI ^BETAClose X

Fandango Holdings plc has entered into non-binding Heads of Terms for the potential acquisition of a significant interest in a silver property in Idaho, USA, which is subject to due diligence and definitive agreement, and is being assessed against the London Stock Exchange's £30 million market capitalization requirement. The previously announced acquisition of European Battery Metals Pty Ltd will not proceed due to licence duration issues. Additionally, David Facey has been appointed as a Non-Executive Director to support transaction evaluation and financing strategy.

Disclaimer*

Fandango Holdings PLC

29 May 2026

Fandango Holdings plc / Index: LSE / Epic: FHP / Sector: Investment

29 May 2026

Fandango Holdings plc

("Fandango" or the "Company")

Corporate Update & Board Appointment

Fandango Holdings plc is pleased to announce that it has executed a non-binding Heads of Terms ('HoT') in relation to the potential acquisition of a significant interest in a historically productive silver property located in Idaho, USA (the 'Proposed Acquisition').

The Board believes the opportunity could provide exposure to a historically productive silver asset in a tier-one mining jurisdiction, subject to the satisfactory completion of due diligence and the agreement of definitive transaction terms.

The Company is currently assessing whether the Proposed Acquisition satisfies, inter alia, the £30 million minimum market capitalisation requirement of the Equity Securities (Commercial Companies) category of the London Stock Exchange's Main Market. Discussions have commenced with advisers regarding the most appropriate way to proceed, and a further update will be provided to the market in due course.

The previously announced potential acquisition of European Battery Metals Pty Ltd ('EBM') will no longer proceed, as certain key licences had limited remaining duration, and the Company was unable to obtain sufficient certainty regarding their extension.

Board Appointment

The Company announces the appointment of David Facey as a Non-Executive Director with immediate effect, to support the Board in relation to the Company's ongoing transaction evaluation and financing strategy.

Mr Facey is an experienced corporate finance professional and Fellow of the Institute of Chartered Accountants, with more than 25 years' experience advising governments, listed companies and private businesses on a broad range of complex transactions and strategic initiatives. He was a founding partner of SP Angel Corporate Finance LLP, an AIM Nominated Adviser and broker and previously held a senior corporate finance position at HSBC Investment Bank. Since April 2021, he has served as a Non-Executive Director of AIM-quoted Logistics Development Group plc.

No further information is required to be disclosed pursuant to UKLR 6.4.8R.

ENDS

For further information visit www.fandangoholdingsplc.com or contact:

Charles Tatnall

Fandango Holdings plc

crstatnall@gmail.com

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