Exercise of Options & TVR
Summary by AI BETAClose X
16 September 2026
Tungsten West Plc
("Tungsten West" or the "Company")
Exercise of Options & TVR
Tungsten West (AIM:TUN), the owner and operator of the Hemerdon tungsten and tin mine ("Hemerdon" or the "Project") in Devon, UK, announces it has received a notice of exercise in respect of founder options over 4,142,988 new ordinary shares of £0.01 each in the capital of the Company ("Ordinary Shares") (the "Founder Option Exercise"). The Founder Option Exercise will provide £41,429.88 of additional funding to the Company, which will be used for general working capital purposes.
The founder options were granted in October 2021 and are exercisable upon certain milestones being achieved. The Founder Option Exercise is pursuant to the Company having raised sufficient finance (whether in the form of debt or equity or otherwise) to recommence mining operations at the Hemerdon Mine for a mine restart. The founder options are set out in full in the Company's admission document dated 15 October 2021.
The 4,142,988 new Ordinary Shares to be issued to pursuant to the Founder Option Exercise will rank pari passu with the existing Ordinary Shares and application will be made for the new Ordinary Shares to be admitted to trading on AIM ("Admission"). It is expected that Admission will become effective and dealings in the new Ordinary Shares will commence at 8.00 a.m. on or around 18 September 2026.
Total Voting Rights
Upon Admission, the Company's issued ordinary share capital will consist of 1,351,815,911 Ordinary Shares and 257,075,833 B shares. Each Ordinary Share has one voting right each. The Company does not hold any Ordinary Shares in treasury, therefore the total number of Ordinary Shares and voting rights in the Company on Admission will be 1,351,815,911. With effect from Admission, this figure may be used by shareholders in the Company 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 share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.
Ends
For further information, please contact:
Enquiries
|
Tungsten West
Jeff Court, Chief Executive Officer Phil Povey, Chief Financial Officer Tel: +44 (0) 1752 278500
|
Strand Hanson
(Nominated Adviser and Financial Adviser) James Spinney / James Dance / Abigail Wennington Tel: +44 (0) 207 409 3494 |
|
BlytheRay
(Financial PR) Megan Ray / Rachael Brooks Tel: +44(0) 20 7138 3204 Email: tungstenwest@blytheray.com |
Hannam & Partners
(Financial Adviser and Broker) Andrew Chubb / Matt Hasson +44 (0)20 7907 8500
|
Follow us on X @TungstenWest
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
Latest directors dealings
- 1 day ago Savannah Energy
- 1 day ago Buccaneer Energy PLC
- 1 day ago Savannah Energy
- 1 day ago Carclo
- 1 day ago Schroder Japan Growth Fund