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LONDON - Drachs Investments No3 Limited has increased its shareholding in Metals Exploration plc to 20.37% of voting rights, according to a regulatory filing released Wednesday.
The Jersey-based investment company now holds 594,465,701 shares in the mining firm, up from its previous position of 19.65%. The threshold was crossed on July 7, with the issuer notified on July 9.
The transaction represents an acquisition of voting rights through direct ownership, with no financial instruments involved in the holding. The notification was made in accordance with the FCA’s TR-1 standard form for major holdings disclosure.
Drachs Investments No3 Limited is identified as the ultimate controlling entity of the shares, based on the information provided in the regulatory filing.
Metals Exploration plc, listed on the London Stock Exchange (LON:LSEG), made the announcement through a Regulatory News Service (RNS) statement. The filing did not disclose the purpose behind the increased stake or any strategic intentions related to the investment.
The disclosure follows standard regulatory requirements that mandate shareholders to report when their holdings cross certain thresholds in publicly traded companies.
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