Critical Mineral Resources plc has reached an arrangement with holders of the July 2024 loan notes that one of its directors buys the balance due of £237,482.52.
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Dominic Traynor will purchase the loan notes before and convert them into 20,459,728 new ordinary shares of £0.01 each and the remaining 1,129,592 treasury shares at a conversion price of 1.1p per share.
Critical Minerals said that following admission of the conversion shares, Mr Traynor had agreed to sell the conversion shares to investors arranged by the company.
The sale will be at the same price per share as the conversion for gross £237,482.52.
On admission of the shares, Critical Minerals’ enlarged issued share capital will total 135,391,499 ordinary shares of 1p each, with voting rights.
The Morocco-focused company no longer holds any shares in treasury.