Pensana Plc
("Pensana" or the
"Company")
10 August 2022
Issue of Equity
Further to the announcement dated 5
August 2022 in respect of the US$10.0
million investment in the Company by Fundo Soberano de
Angola (FSDEA), the Angolan
Sovereign Wealth Fund, by the subscription of 12,331,334 Ordinary
Shares of £0.001 each (“Subscription Shares”), Pensana announces
that the Board has today issued a total of 9,979,710 Subscription
Shares.
Accordingly, application has been made for 9,979,710
Subscription Shares to be admitted to the Official List and to
trading on the Main Market of the LSE and Admission is expected to
occur on the LSE on or about 08:00 on 11
August 2022. The Subscription Shares will rank pari passu
with the existing Ordinary Shares in issue.
Following this issue, the Company’s issued share capital
consists of 245,579,249 Ordinary Shares. No shares are held in
treasury. Therefore, the total number of voting rights of the
Company is 245,579,249.
The above 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 in their interest
in, the Company under the Financial Conduct Authority’s Disclosure
and Transparency Rules.
The issue of the Subscription Shares will increase FSDEA’s
equity holding in the Company to 23.69%
The balance of 2,351,624 Subscription Shares will be issued to
FSDEA, conditional upon Admission of those shares to the Official
List and the LSE’s Main Market for listed securities in due course,
following which the FSDEA’s equity holding in the Company will
increase to 24.42%
The information contained within this
announcement is considered by the Company to constitute inside
information as stipulated under the Market Abuse Regulations (EU)
No.596/2014. Upon the publication of this announcement via a
Regulatory Information Service, this inside information will be
considered to be in the public domain. The person responsible for
arranging for the release of this announcement on behalf of the
Company is Paul Atherley
(Chairman).
~Ends~
For further information, please
contact:
Shareholder/analyst enquiries:
Pensana
Plc
Paul Atherley,
Chairman IR@pensana.co.uk
Tim George, Chief Executive
Officer
Rob Kaplan, Chief Financial
Officer
About Pensana Plc
The electrification of motive power is by far the most important
part of the energy transition and one of the biggest energy
transitions in history. Magnet metal rare earths are central to the
transition away from internal combustion engines and critical to
electric vehicles and offshore wind turbines.
Pensana plans to establish Saltend as an independent and
sustainable processing hub supplying the key magnet metal oxides to
a market which is currently dominated by China. The US$195
million Saltend facility is being designed to produce 12,500
tonnes per annum of rare earth oxides, of which 4,500–5,000 tonnes
will be neodymium and praseodymium (NdPr), representing over 5% of
the world market in 2025.
Pensana’s plug and play facility is located within the world
class Saltend Chemicals Park, a cluster of leading chemicals and
renewable energy businesses in the Humber Freeport and will create
over 500 jobs during construction and over 125 direct jobs once in
production.
It will be the first major separation facility to be established
in over a decade and will become one of only three major producers
located outside China.
Pensana is aiming to establish Saltend as an attractive
alternative for mining companies who may otherwise be limited to
selling their products to China,
having designed the facility to be easily adapted to cater for a
range of rare earth feedstocks.
www.pensana.co.uk