First Tin PLC, a tin development company, has announced that Mr. Charles Cannon-Brookes, Non-Executive Chairman at the Company, on behalf of Arlington Group Asset Management Limited, has purchased 360,000 shares in First Tin at a price of 5 pence per share. Following this transaction, Arlington Group Asset Management Limited holds a beneficial interest in 34,076,669 Ordinary Shares representing 10.70 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 notification and public disclosure of the transaction by persons discharging managerial responsibilities and persons closely associated with them include details of the person discharging managerial responsibilities/person closely associated, the reason for the notification, details of the issuer, and details of the transaction(s).
First Tin PLC is an ethical, reliable, and sustainable tin production company 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. The Company is led by a team of renowned tin specialists and aims to address the rising demand and shortages of tin, which is expected to lead to sustained deficit markets for the foreseeable future.
Tin is a critical metal, vital in any plan to decarbonize and electrify the world, yet Europe has very little supply. The Company's projects in Germany and Australia have been de-risked significantly, with extensive work undertaken to date. This news reflects the confidence of the Non-Executive Chairman in the Company's future prospects and the potential of its tin assets in Germany and Australia.