First Tin PLC, a tin development company, has announced that Mr. Charlie Cannon-Brookes, Non-Executive Chairman at the Company, on behalf of Arlington Group Asset Management Limited, has purchased 900,000 shares in First Tin at a price of 5.5 pence per share on Friday 16 August 2024. Following this transaction, Arlington Group Asset Management Limited holds a beneficial interest in 34,976,669 Ordinary Shares representing 10.98 per cent of the Company's issued share capital. Charlie Cannon Brookes has a 50 per cent interest in Arlington Group Asset Management Limited.
The Company is focused 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, which have been de-risked significantly, with extensive work undertaken to date. Tin is a critical metal, vital in any plan to decarbonize and electrify the world, yet Europe has very little supply. Rising demand, together with shortages, is expected to lead tin to experience sustained deficit markets for the foreseeable future.