Extractive Industries

Altona issues 1.6m shares

Altona Rare Earths plc has issued 1,591,373 ordinary shares in a director’s dealings and in lieu of cash salary payment for certain other directors and senior management.

DIRECTORS AND PDMRs

On 8 January, chief executive officer Cedric Simonet bought 20,000 ordinary shares at 2 pence each and on 9 January a further 50,000 for 2.1 pence each.

Mr Simonet now has 925,711 ordinary shares equal to a 1.08% holding in the company.

Altona also issued 416,373 new ordinary shares each of £0.01 in lieu of cash salary payments for certain directors and senior management.

The arrangement is in accordance with monthly cash conservation measures agreed as part of the company’s London Stock Exchange listing.

Chief financial officer Louise Adrian received 105,306 ordinary shares, taking her total held to 405,306 and equal to 0.47% in the company.

Non-executive chairman Martin Wood received 191,594 shares (1,580,056; 1.84%).

Altona additionally issued Christian Taylor-Wilkinson, in charge of business development, with 305,000 ordinary shares at a price of 5 pence per share in lieu of cash consideration for services provided up to 8 June 2023.

He received a further 800,000 ordinary shares at a price of 3.125 pence per share in lieu of cash consideration for a change in contract terms.

Following admission, the company’s enlarged share capital and total voting rights will comprise 85,967,107. Altona holds no shares in treasury. 

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