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LONDON - Michael Geoghegan’s ownership stake in Mkango Resources Limited (AIM:MKA) has fallen below the 3% threshold, according to a regulatory filing released Friday.
The stake reduction to 2.96% from 3.25% previously was not due to any sale of shares by Geoghegan, but rather resulted from an increase in the total number of shares issued by the company. The threshold was crossed on January 31, 2025, though the notification to the company was only made on July 18, 2025.
According to the TR-1 form filed with the London Stock Exchange (LON:LSEG), Geoghegan currently holds 9,666,667 voting rights in the rare earths development company. The total number of voting rights in the issuer has increased to 326,266,261 from the previous 297,078,761.
In the filing, Geoghegan stated: "I only became aware on 18th July 25 when advised by the company that the number of shares issued had increased and therefore I no longer was a holder of 3+% of the equity of the company. No shares have ever been sold."
Under UK financial regulations, shareholders must notify companies when their ownership stakes cross certain thresholds, typically at 3% and at each percentage point thereafter.
The information was disclosed through a standard TR-1 form, which is used for notification of major holdings as required by the Financial Conduct Authority.
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