Issue of Equity Capital Metals Plc (AIM: CMET) is a natural resources company focussed on the development of the Eastern Minerals Project in Sri Lanka, one of the highest grade mineral sands projects globally . The Company announces the issue of 247,891 ordinary shares of 0.2 pence each ( the Shares ) to settle the interest component of convertible bonds ( the Convertible Bonds ) previously issued by its subsidiary, Capital Metals Limited. The Convertible Bonds were detailed in the Company s admission document published on 23 December 2020 ( Admission Document ). The conversion of interest on the Convertible Bonds to shares was applicable at the completion of the RTO on 13 January 2021 for a deemed value of US$27,888. Following the issue of the Shares, the settlement of the Convertible Bonds has now been completed.
( EPO or the Company ) Change of Name and Ticker The Change of Name to Capital Metals plc has now been confirmed at the Registrar of Companies. The Company s ticker is expected to change from PAL to CMET with effect from 14 January 2021. Total Voting Rights Following readmission earlier today of the enlarged share capital following the reverse takeover of Capital Metals Limited, for the purposes of the Disclosure Guidance and Transparency Rules, the Company s total issued share capital consists of 172,188,875 ordinary shares of 0.2 pence each. 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 to their interest in, the Company, under the Disclosure Guidance
The six months ended 30 September 2020 and subsequent period, have been transformative for CML towards the achievement of its objectives to list on a renowned international stock exchange for resource companies, and procurement of funding to significantly advance the Development Study and Work Programme of the Eastern Minerals Project in Sri Lanka (the Project ), the principal asset of CML. On 21 October 2020, EPO announced that it had reached conditional agreement with parties holding a majority of the shares (51.4 per cent.) ( CML Majority ) in the Company, for EPO to acquire their shares in CML in exchange for ordinary shares in EPO. This proposed acquisition ( Proposed Acquisition ) constitutes a reverse takeover transaction pursuant to the AIM Rules for Companies. Following the Proposed Acquisition, the Company s business will constitute all of EPO s business.