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Share Split and Total Voting Rights

17th Mar 2025 07:00

RNS Number : 8333A
URU Metals Limited
17 March 2025
 

17 March 2025

URU Metals Limited

("URU" or "the Company")

Share Split and Total Voting Rights

URU announces that at its board meeting held earlier this weekend, the Board of Directors passed a resolution to conduct a sub-division ("Share Split") whereby each existing ordinary share of the Company of nil par value each ("Existing Ordinary Shares") will be divided into 25 new ordinary shares of the Company of nil par value each ("New Ordinary Shares"). The Share Split is intended to increase liquidity in, and the marketability of, the Company's ordinary shares, and appeal to a wider group of retail and institutional investors.

The Share Split is conditional on the New Ordinary Shares being admitted to trading on AIM ("Admission"). Admission is expected to become effective at 8.00 a.m. on 24 March 2025 at which time the Share Split will become effective. The last day of trading in the Existing Ordinary Shares is therefore expected to be 21 March 2025 and the record date for the Share Split is 6.00pm on that date (the "Record Date").

Shareholders will receive 25 New Ordinary Shares in exchange for each Existing Ordinary Share held at the Record Date. CREST accounts are expected to be credited with New Ordinary Shares on 24 March 2025 and share certificates in respect of the New Ordinary Shares are expected to be posted to shareholders within 10 business days of Admission.

The ISIN and the SEDOL of the New Ordinary Shares will remain the same as the Existing Ordinary Shares (being VGG930042012 and BH0LMN8 respectively). The ticker for the New Ordinary Shares will also remain the same as the ticker for the Existing Ordinary Shares (URU).

The New Ordinary Shares will rank pari passu with each other and will be subject to the same rights and restrictions as the Existing Ordinary Shares. A holding of New Ordinary Shares following the Share Split will represent the same proportion of the total issued ordinary share capital of the Company as the corresponding holding of Existing Ordinary Shares immediately prior to the Share Split.

The Company currently has 1,646,691 Existing Ordinary Shares in issue (no Existing Ordinary Shares are held in treasury). On this basis, in accordance with the Financial Conduct Authority's Disclosure Guidance and Transparency Rules, the Company advises that, following the completion of the Share Split, the Company will have 41,167,275 New Ordinary Shares in issue (assuming no further shares are issued by the Company prior to the Share Split). Shareholders may use this figure as the denominator for the calculations by which they determine if they are required to notify their interest in, or a change to their interest in, the issued share capital of the Company.

 

Expected Timetable of Principal Events

 

Board approval of Share Split

16 March 2025

Record Date in respect of the Share Split

6.00 p.m. on 21 March 2025

'Ex' date in respect of the Share Split

24 March 2025

Admission expected to become effective and dealings expected to commence in the New Ordinary Shares on AIM

 

8.00 a.m. on 24 March 2025

CREST accounts expected to be credited in respect of New Ordinary Shares in uncertificated form

 

24 March 2025

 

Expected date by which certificates in respect of New Ordinary Shares are to be despatched to certificated Shareholders

 

within 10 business days of Admission

 

 

 For further information, please contact:

 

URU Metals Limited

John Zorbas

(Chief Executive Officer)

 

+1 416 504 3978

 

SP Angel Corporate Finance LLP

(Nominated Adviser and Broker)

Ewan Leggat / Jen Clarke

+ 44 (0) 203 470 0470

 

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