First Tin PLC, a tin development company with advanced, low capex projects in Germany and Australia, has announced that Mr. Charles Cannon-Brookes, Non-Executive Chairman at the Company, on behalf of Arlington Group Asset Management Limited, has purchased 1,450,000 shares in First Tin at a price of GBP 6.75 pence per share on Thursday 2 May 2024. Following this transaction, Arlington Group Asset Management Limited holds a beneficial interest in 23,016,667 Ordinary Shares representing 8.67 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'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. 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. Its assets have been de-risked significantly, with extensive work undertaken to date.