Business update & lifting of suspension update

Technology Minerals PLC

05 March 2026

 

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 "UK MAR") which is part of UK law by virtue of the European Union (Withdrawal) Act 2018. The information is disclosed in accordance with the Company's obligations under Article 17 of the UK MAR. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

5 March 2026

Technology Minerals Plc 

("Technology Minerals" or the "Company") 

Business updates and update on lifting of share suspension

Technology Minerals Plc (LSE: TM1), the first UK listed company focused on creating resource and manufacturing resilience through a sustainable circular economy for battery metals and other critical resources, is pleased to provide the following business updates.

Revised Loan Agreement with Recyclus Group Ltd

Technology Minerals has entered into a binding letter of intent with its 48.35% owned battery recycling business, Recyclus Group Ltd ("Recyclus"), which constitutes a related party transaction and which sets out the principal terms of a new loan agreement ("the New Agreement") which will be entered into, replacing the previous loan agreement between the parties, dated February 2022.  

As at 31 December 2025, the outstanding loan balance due from Recyclus to the Company, including accumulated interest and the addition of management fees for services carried out by the Company, was £9,643,272.01 (the "Loan"). Pursuant to the New Agreement, the Loan will have a seven (7) year term and will be secured by a second ranking charge over the assets of Recyclus and its subsidiaries.

The loan will accrue an increasing rate of interest during the term of the Loan. The interest rates are: 2.5% in the first year; the Bank of England base rate in year two and three; Bank of England base rate +1% in year four; Bank of England base rate +2% in Year five; and Bank of England base rate +3% the following years. Recyclus will receive a £0.5 million early repayment discount should it repay the outstanding Loan balance within three (3) years from the date of the New Agreement.

Interest on the Loan will accrue at the aforementioned rates from the date of the New Agreement, to be paid on or before the last day of each month. No repayment of any interest thereon shall be due until the first anniversary of the New Agreement, and no repayment of the principal shall be due until the second anniversary of the New Agreement. In the event of a default that is not remedied within 45 days, additional default interest shall apply.

Under the terms of the New Agreement, the Company has the right to appoint and maintain one director to the Recyclus Board. Nick Kounoupias, Non-Executive Director of Technology Minerals, is the Company's nomination to join the Recyclus Board as the Company's representative, such appointment to be subject to approval of the Recyclus Board. If the number of directors at Recyclus increases, Technology Minerals has the right to appoint further directors pro-rata.

Update on Annual Report and Accounts

Further to the announcement on 15 January 2026, the Company is in the advanced stages of completing its audit for the year ended 30 June 2025 and the Board expects its Annual Report and Accounts to be published within the next two weeks.  Following the publication of its Annual Report and Accounts the temporary suspension of the listing of the Company's ordinary shares on the Official List will be lifted and the Company's ordinary shares will be restored to trading on the Main Market of the London Stock Exchange.

The Board looks forward to updating the market as to this share restoration in the near future.

Update on previous equity fundraise

Further to the Company's announcement on 15 January 2026, in which it announced the receipt of irrevocable commitments to raise £350,000 through the issue of 350,000,000 new Ordinary shares at a price of 0.1 pence each, and following the admission of the shares on 3 March 2026, the issuance of the new Ordinary shares completed on 4 March 2026.

As previously stated on 15 January 2026, the total number of issued shares and the total number of voting rights in the Company is 3,144,394,215.

The above figure of 3,144,394,215 should be used by shareholders in the Company as the denominator for the calculations by which they will determine whether they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.

Alex Stanbury, CEO of Technology Minerals, said: "We are pleased to be able to revise the terms between Technology Minerals and Recyclus on terms which the board considers are fair and reasonable, but importantly, on an arm's length basis. The new terms continue to enable Technology Minerals to support Recyclus in the ongoing development and progression of its industry-leading solution to addressing the challenges around waste battery metals resulting from the global drive towards electrification, enabling more rapid scaling of production. We know that the board of Recyclus is working on exciting developments and we hope to update investors soon. We believe Technology Minerals, with its portfolio of assets, is well positioned to be a pioneering London listed enterprise focused on national resilience. In addition, we are in the final stages of completing the audit process for the Company's Annual Report and Accounts and expect to publish the accounts in short order to lift the temporary share trading suspension."

Enquiries

Technology Minerals Plc
Robin Brundle, Executive Chairman Alex Stanbury, Chief Executive Officer	c/o [phone]
Fortified Securities (Lead Broker)
Guy Wheatley	[phone]
Oberon Investments Limited (Joint Broker)
Nick Lovering, Adam Pollock	[phone]
Gracechurch Group (Financial PR)
Harry Chathli, Alexis Gore, Rebecca Scott	[phone]

Technology Minerals Plc

Technology Minerals is developing the UK's first listed, sustainable circular economy for battery metals, using cutting-edge technology to recycle, recover, and re-use battery technologies for a renewable energy future. Technology Minerals is focused on raw material exploration required for Li-ion batteries, whilst solving the ecological issue of spent Li-ion batteries, by recycling them for re-use by battery manufacturers. Further information on Technology Minerals is available at  www.technologyminerals.co.uk.

Recyclus Group Ltd

Since July 2023, Recyclus Group has operated a national, industrial-scale lithium-ion battery recycling service that supports the UK's transition to carbon neutrality. The Group's commitment to cradle-to-cradle battery recycling reduces reliance on the extraction of virgin materials, promotes a circular economy for these metals within the UK, supports the advancement of next-generation recycling technologies, and aligns with the UK's resilience and critical minerals strategy.

With strategic backing from Technology Minerals, Recyclus plays a central role in lithium-ion battery recycling and contributes significantly to the circular economy for battery metals.

Further information on Recyclus Group is available at www.recyclusgroup.com

 

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