Pensana Plc - Issue of Equity
PR Newswire
London, June 24
25 June 2021
Pensana Plc
("Pensana" or the "Company")
Admission of Fundraise Shares and Total Voting Rights
The Board of Directors of Pensana Plc (LSE: PRE) is pleased to announce that, further to its announcement on 18 June 2021, regarding the Placings by each of SI Capital and WHI Ireland and Subscriptions to raise gross proceeds of £15.0 million a total of 12,500,000 new ordinary shares of £0.001 each in the capital of the Company have today been admitted to the Official List (Standard Listing Segment) and to trading on the London Stock Exchange's Main Market for listed securities.
Total voting rights
The Company's issued share capital now consists of 216,145,822 Ordinary Shares. No shares are held in treasury and, therefore, the total number of voting rights of the Company on Admission is 216,145,822. 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 in their interest in, the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.
Capitalised terms used but not otherwise defined in this announcement shall have the same meanings ascribed to such terms in the Company's announcement released 18 June 2021 unless the context requires otherwise.
| For further information: | |
| Pensana Plc | |
| Website: Paul Atherley, Chairman / Tim George, CEO | www.pensana.co.uk contact@pensana.co.uk |
| Broker and Bookrunner SI Capital Ltd Nick Emerson | Tel: +44 (0)1483 413500 |
| Bookrunner WH Ireland Limited Harry Ansell / Dan Bristowe (Corporate Broking) Katy Mitchell (Corporate Finance) | Tel: +44 (0) 207 220 1666 |
About the Company
The Company is focussed on the production of the rare earth elements, Neodymium and Praseodymium ("NdPr") used in the manufacture of magnetic metals in the electric vehicle and offshore wind markets, deemed essential for the societal transition to a green economy at a time when China dominates this supply chain.
The Company has commenced development the world's first sustainable rare earth processing hub at the Saltend Chemicals Park, the Humber, United Kingdom which will provide the Company with an independent and sustainable supply chain of these rare earth elements.
The Saltend facility was part of the Humber's recently successful Freeport bid and will be in a position to import rare earth feedstock from sustainable sources around the world and export its high value products to automotive and wind turbine supply chains with minimal taxes or other imposts.
The Company will source its initial feedstock from its Longonjo mine in Angola. The near surface high grade mine which is linked to the Port of Lobito by a recently upgraded Benguela rail line and has been designed by UK engineering experts Wood Group plc to international standards which features zero carbon hydroelectric power and tailings storage facilities aligned to Church of England Pensions Board and ICMM guidelines.
The Company is in active discussion with third parties for the additional supply of sustainably sourced rare earth carbonates and will look to expand production capacity once such feedstock becomes available.
