First Tin PLC, a tin development company, announced that Metals X Limited, closely associated with two Non-Executive Directors at the Company, purchased 11,500,000 shares at 4 pence per share. This transaction increases Metals X Limited's beneficial interest to 22.45% of the Company's issued share capital. The purchase was made through the Placing announced on 10 July 2024. The Company's focus is on becoming a tin supplier in conflict-free, low political risk jurisdictions through the rapid development of high value, low capex tin assets in Germany and Australia.
First Tin PLC is led by a team of renowned tin specialists and is committed to ethical, reliable, and sustainable tin production. The Company's projects in Germany and Australia have been de-risked significantly, with extensive work undertaken to date. Tin is a critical metal, essential for decarbonization and electrification, and Europe has limited supply. The rising demand and expected sustained deficit markets for tin make the Company's projects strategically important.
The Company's Chief Executive Officer, Bill Scotting, and financial advisors and brokers are available for inquiries. The announcement provides a comprehensive overview of the transaction, including details of the person discharging managerial responsibilities, the issuer, and the transaction itself. The transaction took place on the London Stock Exchange's Main Market on 1 August 2024. This notification and public disclosure of the transaction align with regulatory requirements.