19th Dec 2025 11:48
(Alliance News) - Joint administrators of a stake in First Class Metals PLC have been approached by a potential buyer, they announced Friday.
First Class Metals is an Ontario, Canada-focused gold and critical metals explorer.
Quantuma Advisory Ltd, in its capacity as joint administrators of 79th Grp Ltd, alongside Kroll Advisory Ltd noted that Quantuma are currently in control of 78.6 million shares representing about 33.5% of the entire issued share capital in First Class Metals.
The joint administrators have been approached by a potential purchaser for a part of the 79Grp shares but have not yet entered into discussions with any potential buyer.
Asa result of the announcement, an offer period has started for First Class Metals.
The administrators are seeking further potential buyers to acquire the remaining interest which may be either all of the remaining 79Grp shares, or part of the 79Grp shares, which would carry less than a total of 30% of voting rights in First Class Metals.
First Class Metals shares rose 11% to 2.50 pence each on Friday morning in London.
By Tom Budszus, Alliance News slot editor
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