Critical Mineral Resources plc’s chairman has agreed to acquire the balance of the July convertible loan notes.
VOTING RIGHTS
Dominic Traynor will purchase in cash £325,619.17 of the balance due under the loan notes from the loan note holders.
Under the terms of the CLNs, Mr Traynor will convert the balance into 29,601,743 new ordinary shares of £0.01 each, at a conversion price of 1.1p per share.
Following admission, Mr Traynor has agreed to sell the conversion shares to investors arranged by CMR, at the same price per share as the conversion, being 1.1p, for gross £325,619.17.
The company’s enlarged issued share capital will comprise 114,931,771 ordinary shares, of which 1,129,592 are held in treasury and without permission to exercise the attached voting rights.
Total voting rights calculations should be based on 113,802,179.