Zinnwald Lithium plc Results of Fundraising
Zinnwald Lithium plc, the German focused lithium development company, is pleased to announce it has successfully completed a total fundraise of £3,154,550 (before expenses) at the Issue Price of 5 pence per share pursuant to the Placing and Subscription announced earlier today (the “Launch Announcement”).
AMG have subscribed for 40,000,000 Subscription Shares at the Issue Price to increase their shareholding to 29.57% of the issued share capital of the Company as enlarged by the Placing and Subscription (the “Enlarged Share Capital”). Mark Tindall has subscribed for 8,400,000 Subscription Shares at the Issue Price to increase his shareholding to 5.24% of the Enlarged Share Capital. The Subscription has raised a total of £2.42 million (before expenses) for the Company.
A further total of 14,691,000 Placing Shares have been placed at the Issue Price with institutional and professional investors. As part of the Placing, Henry Maxey, a 14.62% shareholder, has subscribed for 10,000,000 Placing Shares, increasing his shareholding based on the Enlarged Share Capital to 14.74%. The Placing has raised a total of £734,550 (before expenses) for the Company.
Oberon Capital and Tamesis Partners acted as joint bookrunners in connection with the Placing.
Application will be made shortly for a total of 63,091,000 new ordinary shares (comprising 14,691,000 Placing Shares and 48,400,000 Subscription Shares) to be admitted to trading on AIM (“Admission”) and Admission is expected to occur on or around 24 June 2025.
A further announcement setting out, inter alia, the results of the Retail Offer and the proportion of the enlarged issued share capital of the Company (following both the Fundraising and the Retail Offer) held by AMG, Mark Tindall and Henry Maxey will be published shortly after the closing of the Retail Offer which is expected to take place on 18 June 2025.
Anton du Plessis, Chief Executive Officer of Zinnwald, commented:
“We are delighted to have successfully completed this fundraising, particularly given the continued challenging market conditions. The strong support we have received from both existing and new shareholders is a clear endorsement of our strategy and the long-term value potential of the Zinnwald Lithium Project. We are especially grateful to our core investors for their continued confidence in the Company. This funding puts us in a strong position to continue advancing our work towards delivering a secure and sustainable lithium supply for Europe.“