Quantuma Advisory Limited, acting as joint administrator for The 79th Grp Limited, has confirmed it has been approached by a potential buyer interested in acquiring a controlling stake in First Class Metals PLC.
The holding in question comprises 78,552,084 ordinary shares, representing approximately 33.5% of First Class Metals’ issued share capital. Quantuma said discussions are also underway to identify purchasers for the remaining shares held by The 79th Grp, which could involve the sale of all or part of the stake and may result in an interest carrying less than 30% of the company’s voting rights.
An offer period has now commenced for First Class Metals, which currently has 233,932,820 ordinary shares in issue.
There can be no certainty that any firm offer will be made by the potential purchasers and a further announcement will be made as and when appropriate.
As a consequence of this announcement, an Offer Period has commenced for the Company.
For further information
Quantuma
Alex Roberts, Director
Email: Alex.Roberts@Quantuma.com
Tel: +44 (0)161 6949144
First Class Metals
James Knowles, Executive Chair
Email: JamesK@Firstclassmetalsplc.com
Tel: 07488 362641
Marc J Sale, CEO and Executive Director
Email: MarcS@Firstclassmetalsplc.com
Tel: 07711 093532
