9th Oct 2026 12:12
First Tin PLC - tin mine developer with projects in Germany and Australia - Announces that on Thursday it received a 15 pence per share unsolicited, indicative cash acquisition proposal from largest shareholder Metals X Ltd. Metals X holds a 29.95% stake in First Tin. It currently has until 1700 BST on November 6 to announce either a firm intention to make an offer or that it does not intend to make an offer.
First Tin says its board and advisors are "carefully considering the proposal." This excludes Non-Executive Directors Peter Gunzburg and Brett Smith, who are both Metals X appointees. Gunzburg is Metals X's chair, while Smith is an executive director. First Tin will make a further announcement "if and when appropriate," and advises shareholders "to take no action at this time."
Current stock price: 13.50 pence, up 17% around midday on Friday in London
12-month change: up 88%
By Emma Curzon, Alliance News reporter
Comments and questions to [email protected]
Copyright 2026 Alliance News Ltd. All Rights Reserved.
Related Shares:
First Tin PLC