Results of Accelerated Bookbuild

Ironveld PLC

31 March 2026

 

THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED IN IT, IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL. PLEASE SEE THE IMPORTANT NOTICE IN THIS ANNOUNCEMENT.

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF THE MARKET ABUSE REGULATION (EU) 596 / 2014 WHICH FORMS PART OF UK LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 (AS AMENDED) ("MAR").

FOR IMMEDIATE RELEASE

31 March 2026

Ironveld plc
("Ironveld" or the "Company")

Results of Accelerated Bookbuild

Ironveld plc, the mining development company focused on producing high-value strategic metals, is pleased to announce the successful completion of the Accelerated Bookbuild (the "ABB") announced earlier today.

The ABB was significantly oversubscribed and, as a result and after consultation between the Bookrunner, Turner Pope Investments (TPI) Ltd ("Turner Pope") and the Company, the size of the fundraise has been increased such that a total of 4,444,444,444 new Ordinary Shares of 0.01p each (the "Placing Shares") have been placed with existing institutional and other investors, including Premier Miton, at an issue price of 0.0225 pence per share (the "Issue Price"), raising gross proceeds of approximately £1 million (the "Placing"). In addition, the Company has raised gross proceeds of approximately £100,000 through a direct subscription for 444,444,444 new Ordinary Shares of 0.01p each (the "Subscription Shares") by Tracarta Ltd, a company in which the Company's Chairman, Dr John Wardle, has a beneficial interest (the "Subscription"). The Placing and Subscription have therefore raised, in aggregate, £1.1 million for the Company, before expenses.

The net proceeds of the Fundraise will be used to support business development and working capital, ensuring the Company maintains momentum across its operational and commercial workstreams as cash flows from established operations grow.

Together, the Placing Shares and the Subscription Shares in aggregate represent approximately 23.6 per cent. of the enlarged issued ordinary share capital of the Company and the Issue Price represents a discount of approximately 48.3 per cent. to the price at which the Company's shares were suspended on 2 January 2026 The Placing and Subscription are conditional, inter alia, on Admission occurring and the Placing Agreement not being terminated prior to Admission.

Admission and Total Voting Rights

Application will be made to the London Stock Exchange for the Placing Shares and the Subscription Shares (together, the "Fundraising Shares") to be admitted to trading on AIM ("Admission"). It is expected that Admission will take place, and that trading will become effective and dealings in the Fundraising Shares will commence on AIM, at 8.00 a.m. on 8 April 2026.

The Fundraising Shares will, when issued, be credited as fully paid and will rank pari passu in all respects with the existing Ordinary Shares of the Company.

Following Admission, the Company's issued share capital will consist of 20,719,867,125 Ordinary Shares. This figure may be used by shareholders as the denominator for the calculations by which they will 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.

Capitalised terms used in this announcement but not otherwise defined have the meanings given to them in the Launch Announcement, unless the context provides otherwise.

Broker Warrants

In connection with the Fundraise, Turner Pope has been issued with 293,333,333 warrants, equivalent to 6 per cent. of the aggregate number of new Ordinary Shares issued pursuant to the Fundraise, entitling the holder to subscribe for one new Ordinary Share at the Issue Price at any time within five years from the date of Admission.

Kristoffer Andersson, CEO of Ironveld, commented:

"Principally supported by our existing shareholders, this successful fundraise gives us the platform to accelerate delivery across our operations and commercial activities.  We are grateful for their continued support, which reflects confidence in the progress we have made over the past year in strengthening the business and advancing our strategy.

"With this funding now in place, our focus is firmly on the future. We are resuming operations with clear priorities and strengthened working capital, positioning the Company to build momentum and move towards sustainable revenue generation. We are now executing against our strategy with discipline, with the aim of delivering long-term value for shareholders."

For further information, please contact:

Ironveld plc Kristoffer Andersson, Chief Executive Officer	c/o BlytheRay [phone]
Cavendish Capital Markets Limited (Nomad and Broker) Derrick Lee	[phone]
Turner Pope Investments (TPI) Ltd (Joint Broker) Andrew Thacker / Guy McDougall	[phone]
BlytheRay Megan Ray / Said Izagaren / James Mulligan	[phone]

Notes to Editors:

Ironveld is a mining development company focused on producing high-value strategic metals. The Company's primary asset is a vanadium, titanium and iron ore project located on the northern limb of the Bushveld Complex in Limpopo Province, South Africa. Ironveld's shares are admitted to trading on AIM, a market operated by the London Stock Exchange.

Notification and public disclosure of transaction by person discharging managerial responsibilities

1	Details of the person discharging managerial responsibilities/person closely associated
a.	Name		1)   John Wardle
2	Reason for notification
a.	Position/Status		1)   Director
b.	Initial notification/ Amendment		Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a.	Name		Ironveld Plc
b.	LEI		2138004LU52LQBNXG604
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 ISIN Code: GB0030426455
b.	Nature of the transaction		Subscription - Issue of new ordinary shares
c.	Price(s) and volume(s)		Price Volume 1)    £0.000225 444,444,444
d.	Aggregated information - Aggregated Volume - Price		N/a - single transaction
e.	Date of the transaction		31 March 2026
f.	Place of the transaction		UK

 

END