Technology Minerals is pleased to announce a number of important strategic developments for the business as it executes on its strategy to develop the UK's first sustainable circular economy for battery metals.
The Company is delighted to report that an application has been made to the FCA for the Company’s shares to be traded on the Standard List of the London Stock Exchange and that a Prospectus was submitted on 14 June 2021 to the FCA for approval. Once initial feedback has been received, the Company expects to progress to an IPO as soon as practicable.
The Company had been fundraising ahead of the IPO and is pleased to report that the fundraise was over subscribed and has now successfully closed.
In addition, in preparation for listing, the Company is further strengthening its Board with the appointment of Nigel Ruddock, who will join the business at the time of the IPO as Chief Financial Officer.
Nigel is widely respected within the accounting and capital markets, notably he was Chairman of Grant Thornton UK, which then employed c.4,000 people with a revenue of around £450m.
From 2010 to 2015 he was a member of the Leadership Board of Grant Thornton International, where he was responsible for developing their global advisory business, as well as helping to develop member firms in the Asia Pacific and Middle East. He has worked extensively in China during his career and understands the wider South East Asian markets. From 2015 to 2017 he was Chairman of an accounting firm in Singapore, where he successfully led a period of critical change for the business.
As well as accounting and capital markets experience, he has extensive knowledge of the automotive sector. From 2000 to 2010 Nigel was Head of Automotive Services for Grant Thornton, during which time he led most of the major restructuring assignments of dealer groups in the UK. He was a regular visitor to Detroit during the Global Financial/Automotive crisis, and also spent a lot of time in Cologne working with a wide range of component suppliers.
Commenting Alex Stanbury, CEO Technology Minerals said:
“Technology Minerals will become the first UK company at the time of listing, to create a circular economy for battery metals within a single group. This will be achieved by extracting the raw materials required for Li-ion Battery cathodes, and then help solve the ecological issue of spent Li-ion batteries by recycling them for reuse by battery manufacturers. We believe that circular economies hold the key to a viable future for electric vehicles.
“We have assembled a major recycling group and a strong portfolio of mining assets backed by an experienced Board. The appointment of someone of Nigel’s calibre, with his extensive experience of both the capital markets and the automotive sector, is a real positive for the business ahead of the IPO.”
“Our prospectus is now under review with the FCA and we have successfully closed an oversubscribed pre-IPO fund raising. We now look forward to progressing to IPO as soon as possible.”
For further information, please visit technologyminerals.co.uk/
Media Details -
Company Name - Technology Minerals Limited
Email - [email protected]
City - London
Country - Uk
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