Ferro-Alloy Resources raises £1 million through 16.7 million share issue

Ferro-Alloy Resources Ltd

Ferro-Alloy Resources Limited (LON:FAR), the vanadium producer and developer of the large Balasausqandiq vanadium deposit in Southern Kazakhstan, has announced that it has issued a total of 16,666,667 ordinary shares of nil par value in the capital of the Company, raising gross proceeds of £1,000,000, having received share subscriptions from investors including certain directors of the Company and the Company’s strategic shareholder Vision Blue Resources Limited.

Commenting, Nick Bridgen, CEO of Ferro-Alloy Resources, said:

“This small equity raise, supported by our key shareholders, will help us to optimise the carbon black substitute element of the Project and we look forward to the full results of the Feasibility Study in September.”

Issue of equity

The Company has issued a total of 16,666,667 ordinary shares of nil par value in the capital of the Company, raising gross proceeds of £1,000,000, having received share subscriptions from investors including certain directors of the Company and the Company’s strategic shareholder VBR.

The New Shares are being issued at 6p per share representing a 19.5% discount to the Company’s closing mid-market share price as at 4 July 2025. The New Shares are being issued under existing shareholder authority granted at the Company’s 2024 Annual General Meeting held on 23 October 2024.

Material related party transaction

Participation by Nicholas Bridgen, Andrey Kuznetsov, Christopher Thomas and VBR in the Subscription constitutes a material related party transaction pursuant to the Disclosure, Guidance and Transparency Rules. The Independent Directors have considered the terms of the transaction and concluded they are fair and reasonable insofar as shareholders are concerned (VBR is a person closely associated with the Company’s Chairman, Sir Mick Davis.)

The beneficial interest in the issued share capital of the Company of those Company directors that have subscribed for New Shares will be as follows:

·    Nicholas Bridgen: 61,305,467 ordinary shares of nil par value in the capital of the Company, representing 12.01% of the issued share capital of the Company (having subscribed for 1,833,334 New Shares)

·    Andrey Kuznetsov: 69,100,666 Ordinary Shares, representing 13.54% of the issued share capital of the Company (having subscribed for 583,333 New Shares)

·    Christopher Thomas: 7,340,753 Ordinary Shares, representing 1.44% of the issued share capital of the Company (having subscribed for 500,000 New Shares)

·    Having subscribed for 3,750,000 New Shares, VBR will hold 114,821,783 Ordinary Shares, representing 22.5% of the issued share capital of the Company.

Admission

Applications have been made to the Financial Conduct Authority for the New Shares to be admitted to the Official List and to the London Stock Exchange for the New Shares to be admitted to trading on its Main Market for listed securities. It is anticipated that Admission will become effective, and that dealings in the New Shares will commence at or around 8.00 a.m. BST on 10 July 2025.

Total voting rights

Following Admission of the New Shares, Ferro-Alloy Resources’ issued ordinary share capital will comprise 510,311,003 Ordinary Shares, with none held in treasury, and therefore, the total number of Ordinary Shares in the Company with voting rights will be 510,311,003. This figure may 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 applicable legal and regulatory requirements.

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