Board Appointments and Strategic Review

Focus Xplore PLC

01 April 2026

 

Focus Xplore PLC

1 April 2026

Focus Xplore PLC

('Focus Xplore' or the 'Company')

Board Appointments and Strategic Review

Focus Xplore PLC (AIM: FOX), the strategic energy and critical minerals exploration and development company, is pleased to confirm that, further to the announcement on 9 March and as at 31 March 2026, Antony Legge has been appointed as Independent Non-Executive Chairman, David Russell has been appointed as Executive Director, Neil Slade has been appointed as Non-Executive Director and Sean Wade and Patrick Cullen have stepped down from the Board. The Board intends to appoint an additional director with relevant mining expertise as soon as practicable.

The Company would like to take this opportunity to express its sincere gratitude to Sean Wade and to Patrick Cullen, who is stepping down as Chief Executive Officer and will leave the Board at the end of March 2026. Sean and Patrick have made valuable contributions during a critical period of transition for the Company, and the Board wishes them every success in their future endeavours.

Review of Existing Interests & New Business Opportunities

Following the Board changes, the CLN announced on 9 March, is now unconditional and the funds expected imminently. The Board is in the process of reviewing all existing interests as well as actively evaluating a range of new exploration opportunities and will provide further updates as appropriate.

Further steps have also been taken to minimise the Company's ongoing cash burn with the aggregate salaries of the new directors not exceeding £60,000, which will be accrued until the Company's finances are on a firmer footing.  In addition, Patrick Cullen has agreed to waive his accrued fees.  Parick will receive an ex-gratia payment of €11,695 and £5,500 of shares, which will be issued at the same time and price as the next issue of shares by the Company. The Company has also agreed to issue £10,000 of warrants to each of Antony Legge, David Russell and Neil Slade, on the same terms as those attached to the CLN announced on 9 March 2026. 

Board Comment

Antony Legge, Non-Executive Chairman, commented:

"On behalf of the new Board, I would like to thank Patrick Cullen for his dedication and support during this period of transition. His efforts have ensured a smooth handover, and we wish him well.

"The new Board is united in its commitment to rebuilding shareholder value. Our immediate priorities are to complete the review of existing interests and to progress new opportunities whilst carefully managing the company's limited financial resources. We look forward to updating shareholders on our progress in due course."

Additional disclosures required under the AIM Rules for Companies

Antony Legge

Pursuant to Rule 17 and Schedule Two Paragraph (g) of the AIM Rules for Companies, Antony Fabian Legge, aged 58 is, or has during the last five years, been a director or partner of the following companies and partnerships:

Current	Past
Unicorn Mineral Resources PLC Broadstreet Asset Management Ltd Broad Street Investment Management Ltd LMG Consulting Services Ltd Canna Capital PLC CSDG Holdings Limited Ingard Property Bond 3 Designated Activity Company Pulteney Bond Designated Activity Company Glenfinnian Bond Designated Activity Company	West Midlands Investments PLC Pure Functionals Group Limited Nanosynth Group PLC Nanovate Limited G8 Nano Ltd

·      Antony Legge was appointed as a non-executive director of Canna Capital plc on 1 September 2022, prior to its attempted IPO. On 5 December 2024, Canna Capital plc received a copy of notice of winding-up order made against the Company. The Company is currently in Administration and the potential shortfall to creditors is not known at this time.

·      Antony Legge was appointed as a director of Change Agronomy Limited on 30 May 2022; the Company subsequently changed its name to CSDG Holdings Limited on 11 May 2023. Following a successful court case against an investor for breach of an investment agreement for £8.0m and the investor entering administration, Interpath Ltd were appointed as Administrators to the Company on the 7 May 2025. CSDG Holdings Limited is still currently in Administration.  The statement of affairs showed a shortfall to creditors of approximately £6.0m.

·      Antony Legge was appointed as a director of SerVision plc on 1 August 2016. On the 25 July 2018, the Company passed a special resolution to entered into creditors voluntary liquidation and appoint Leonard Curtis as voluntary liquidator for the Company. There was a total shortfall with non-preferential creditors of £1,741,321. SerVision plc was subsequently dissolved on 18 December 2019.

Antony Legge does not hold any ordinary shares in the Company.

David Russell

Pursuant to Rule 17 and Schedule Two Paragraph (g) of the AIM Rules for Companies, David Peter Russell aged 54 is, or has during the last five years, been a director or partner of the following companies and partnerships:

Current

Past

Charlemont Capital Solutions Ltd Charlemont Capital (Europe) Limited Charlemont Capital International Limited Charlemont Capital Investments Limited Charlemont Capital Investments Limited, Jersey Charlemont Capital Investments SARL Metropolitan Capital Management Limited Metropolitan Capital Services Limited Metropolitan Capital Holdings SA NEI GP LLC Castle International Holdings Limited Castle International Limited

Harcourt Life Corporation DAC Charlemont Capital Limited Metropolitan Capital Ventures Limited Metropolitan Capital Resolutions Limited Strategic Energy Ventures Limited Mollyware Limited Kernesk Ltd Zeus Investments 1 SPRL Zeus Investments 2 SPRL Metropolitan Capital Investments (UK) Limited

Through his 100% ownership of Cadtle International Holdings Limited, David Russell is beneficially interested in 487,500,000 Ordinary Shares, £27,500 of CLNs (as announced on 9^th March 2026) and 213,750,000 warrants (excluding the warrants to be issued as announced above and the warrants attached to any conversion of the CLNs) in Focus Xplore plc.

Neil Slade

Pursuant to Rule 17 and Schedule Two Paragraph (g) of the AIM Rules for Companies, Neil Winston Methuen Slade aged 59 is, or has during the last five years, been a director or partner of the following companies and partnerships:

Current	Past
Beauty Science UK Ltd	-

Neil Slade's interest in the Company is held through £10,000 of CLNs as announced on 9^th March 2026.

Enquiries:

Antony Legge	[e-mail]	Focus Xplore PLC - Non-Executive Chairman
James Biddle / Roland Cornish	[phone]	Beaumont Cornish Limited - Nominated Adviser
Jason Robertson	[phone]	First Equity Limited - Corporate Broker

Corporate Website: www.focusXplore.com     LinkedIn: Focus Xplore PLC     X: @focusXplore

Beaumont Cornish Limited ("Beaumont Cornish") is the Company's Nominated Adviser and is authorised and regulated by the FCA. Beaumont Cornish's responsibilities as the Company's Nominated Adviser, including a responsibility to advise and guide the Company on its responsibilities under the AIM Rules for Companies and AIM Rules for Nominated Advisers, are owed solely to the London Stock Exchange. Beaumont Cornish is not acting for and will not be responsible to any other persons for providing protections afforded to customers of Beaumont Cornish nor for advising them in relation to the proposed arrangements described in this announcement or any matter referred to in it.

 

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