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LONDON - Firering Strategic Minerals plc (AIM:FRG), an emerging producer of quicklime and explorer of critical minerals, has secured £279,500 through share subscriptions, according to a press release statement issued Tuesday.
The company’s Chairman Youval Rasin subscribed for 8,333,333 new ordinary shares at 1.5 pence per share, raising £125,000. Of these shares, 1,666,667 were subscribed in his own name and 6,666,666 through Clearglass Investments Limited, a Cypriot company where Rasin serves as director and holds a 40% stake.
Director Shai Kol also participated, subscribing for 3,333,333 shares at the same price to raise £50,000. Additional subscribers contributed £104,500 for 6,966,666 shares.
The subscriptions by Rasin and Kol constitute related party transactions under AIM Rule 13. The company’s independent directors, having consulted with SPARK Advisory Partners Limited, Firering’s nominated adviser, determined that the terms of Rasin’s subscription are fair and reasonable for shareholders.
Firering will apply to the London Stock Exchange (LON:LSEG) for the 18,633,332 new shares to be admitted to trading on AIM, with admission expected around August 4, 2025.
Following admission, Firering’s issued ordinary share capital will consist of 330,354,292 ordinary shares with one vote per share. The company holds no shares in treasury.
Firering Strategic Minerals currently focuses on ramping up production at the Limeco quicklime project in Zambia, where it holds a 20.5% interest with an option to increase to 45%. The company is also developing the Atex Lithium-Tantalum Project in northern Côte d’Ivoire.
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