Home » Technology Minerals (TM1) » Technology Minerals #TM1 – Funding enables ramp up of operations at Tipton plant

Technology Minerals #TM1 – Funding enables ramp up of operations at Tipton plant

Technology Minerals Plc (LSE: TM1), the first listed UK company focused on creating a sustainable circular economy for battery metals, is pleased to announce that it has raised a total of approximately £400,000 gross through the issue of 32,000,000 new ordinary shares (“Subscription Shares”) to a new institutional shareholder at a subscription price of 1.25 pence per share, which will represent approximately 2.45% per cent of the Company’s enlarged issued share capital on Admission.

Additionally, the Company has issued 1,100,000 ordinary shares in lieu of payment to a supplier at a subscription price of 1.89 pence per share, which will represent approximately 0.08% per cent of the Company’s enlarged issued share capital on Admission.

The Company intends to use the proceeds primarily to fund the ramping up of the first phase of operations at the Tipton lead-acid battery recycling plant and prepare to commence industrial-scale processing through an automated plant following approval from the Environmental Agency.

Admission and Total Voting Rights

Application will be made for the 33,100,000 new ordinary shares, which will rank pari passu in all respects with the existing ordinary shares of the Company, to be admitted to the Standard List segment of Official List and to trading on the main market of the London Stock Exchange plc, which is expected to occur on or around 8.00 a.m. on 9 November 2022 (“Admission”). Upon Admission, the total number of issued shares and the total number of voting rights in the Company will be 1,304,523,593.

The above figure of 1,304,523,593 should 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 Financial Conduct Authority’s Disclosure Guidance and Transparency Rules.

Alex Stanbury, CEO of Technology Minerals, said: This subscription represents a vote of confidence in our twin-track strategy and the management team. The funds will enable us to scale our operations at the Tipton plant and commence generating meaningful cash flow. It will also help as we lay the groundwork to commence automated production, pending approval from the Environmental Agency.”


Technology Minerals Plc

Robin Brundle, Executive Chairman

Alexander Stanbury, Chief Executive Officer

+44 20 4582 3500

Oberon Investments Limited

Nick Lovering, Adam Pollock

+44 (0)20 3179 0535

Arden Partners Plc

Ruari McGirr, George Morgan

+44 (0)207 614 5900

Gracechurch Group

Harry Chathli, Alexis Gore, Amy Stupavsky

+44 20 4582 3500

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 extracting raw materials required for Li-ion batteries, whilst solving the ecological issue of spent Li-ion batteries, by recycling them for re-use by battery manufacturers. With the increasing global demand for battery metals to supply electrification, the group will explore, mine, and recycle metals from spent batteries. Further information on Technology Minerals is available atwww.technologyminerals.co.uk  

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