27 JUNE 2023
THIS
ANNOUNCEMENT CONTAINS INSIDE INFORMATION
Pensana
Plc
("Pensana"
or the "Company")
Issue
of Equity
Further to the announcement dated 28 April
2023 in respect of the US$5
million investment in the Company by Fundo Soberano de
Angola (FSDEA), the Angolan
Sovereign Wealth Fund, by the subscription of 15,000,000 Ordinary
Shares of £0.001 each ("Subscription Shares"), Pensana announces
that the Board has today issued a total of 12,456,920 Subscription
Shares.
Accordingly, application has been made for 12,456,920 Subscription
Shares to be admitted to the Official List and to trading on the
Main Market of the LSE and Admission is expected to occur on the
LSE on or about 08:00 on 30 June
2023. The Subscription Shares will rank pari passu with the
existing Ordinary Shares in issue.
The balance of 12,456,920 Subscription Shares will be issued to
FSDEA, conditional upon Admission of those shares to the Official
List and the LSE's Main Market for listed securities in due course,
following which the FSDEA's equity holding in the Company will
increase to 26.49%
Total Voting Rights
Following this issue, the Company's issued share capital consists
of 285,180,873 Ordinary Shares. No shares are held in treasury.
Therefore, the total number of voting rights of the Company is
285,180,873.
The above figure may be used by shareholders as the denominator for
the calculations by which they will determine if they are required
to notify their interest in, or a change in their interest in, the
Company under the Financial Conduct Authority's Disclosure and
Transparency Rules.
The information contained within this announcement is
considered by the Company to constitute inside information as
stipulated under the Market Abuse Regulations (EU) No.596/2014.
Upon the publication of this announcement via a Regulatory
Information Service, this inside information will be considered to
be in the public domain. The person responsible for arranging for
the release of this announcement on behalf of the Company is
Paul Atherley
(Chairman).
-ENDS-
For
further information, please contact:
Shareholder/analyst
enquiries:
Pensana
Plc
Paul Atherley, Chairman IR@pensana.co.uk
Tim George, Chief Executive Officer
Rob Kaplan, Chief Financial Officer
George Zacharias, Group Company Secretary
Media
enquiries:
FGS
Global:
Gordon Simpson / Richard
Crowley Pensana-LON@fgsglobal.com
About
Pensana Plc
The
electrification of motive power is the most important part of the
energy transition if we are to tackle climate change and one of the
biggest energy transitions in history. Magnet metal rare earths are
central to that transition, forming a critical part of the
technology for efficient electric vehicle motors and offshore wind
turbines.
Pensana
plans to establish its Saltend processing hub as an independent and
sustainable supplier of the key rare earth magnet metal oxides to a
market which is currently dominated by China.
The
US$195 million Saltend facility is
being designed to produce circa 12,500 tonnes per annum of rare
earth products, of which 4,500 tonnes will be neodymium and
praseodymium oxide (NdPrO), representing over 5% of the world
market in 2025.
Pensana's
plug-and-play facility is located within the world-class Saltend
Chemicals Park, a cluster of leading chemicals and renewable energy
businesses in the Humber Freeport and will create over 500 jobs
during construction and over 125 direct jobs once in
production.
Powered by
low-carbon offshore wind, it will be the first major separation
facility to be established in over a decade and will become one of
the few major producers located outside China.
Feedstock
will be shipped as a clean, high purity mixed rare earth double
sulphate (MREDS) from the Company's Longonjo low-impact operations
in Angola. The mine's
state-of-the-art concentrator and proprietary MREDS processing
plant are designed by Wood to the highest international
standards.
The
operations will be powered by renewable energy from hydroelectric
power and connected to the Port of Lobito by the recently upgraded
Benguela railway line.
Pensana
believes that provenance of critical rare earth materials supply,
life cycle analysis and GHG Scope 1, 2 and 3 emissions will all
become significant factors in supply chains for major
customers.
The
Company intends to offer customers an independently and sustainably
sourced supply of the metal oxides and carbonates of increasing
importance to a range of applications central to addressing the
energy transition.
Pensana is
also aiming to establish Saltend as an attractive alternative to
mining houses that may otherwise be limited to selling their
products to China, having designed
the facility to be easily adapted to cater for a range of rare
earth feedstocks.
www.pensana.co.uk