Pensana Plc Issue of Equity
September 14 2022 - 1:00AM
UK Regulatory
TIDMPRE
14 SEPTEMBER 2022
Pensana Plc
("Pensana" or the "Company")
Issue of Equity
Further to the announcement dated 10 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 issued the balance of 2,351,624 Subscription Shares.
Accordingly, application has been made for 2,351,624 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 20 September
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
247,930,873 Ordinary Shares. No shares are held in treasury. Therefore, the
total number of voting rights of the Company is 247,930,873.
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 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
George Zacharias, Group Company Secretary
Media enquiries:
FGS Global:
Gordon Simpson / Richard Crowley
Pensana-LON@fgsglobal.com
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
END
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