EAST STAR RESOURCES PLC

Prospectus • Oct 10, 2024

National Storage Mechanism | Additional information

RNS Number : 7358H

East Star Resources PLC

10 October 2024

10 October 2024

East Star Resources Plc

("East Star" or the "Company")

Publication of Prospectus

East Star Resources Plc (LSE:EST), which is exploring for copper in Kazakhstan, announces it has today published a prospectus (the "Prospectus") in connection with the issuance of 145,791,220 new ordinary shares of £0.01 each ("Ordinary Shares") in the capital of the Company.

As announced on 4 October 2024, the Company raised gross proceeds of approximately £1.16 million from an oversubscribed subscription for, and placing of, 100,926,292 new ordinary shares of £0.01 each in the capital of the Company at a price of 1.15 pence per share ("Fundraise").

A copy of the Prospectus has been submitted to the National Storage Mechanism and will shortly be available for inspection at: https://data.fca.org.uk/#/nsm/nationalstoragemechanism . A copy will also be made available on East Star's website at: www.eaststarplc.com

Additional share issuances

In addition to certain directors subscribing for Ordinary Shares as part of the Fundraise, Sandy Barblett and Anthony Eastman have agreed to be issued with a total of 1,739,130 new Ordinary Shares in lieu of deferred fees owed to each of them (the "Fee Shares") which is further testament to their commitment. The Fee Shares being issued are as follows:

Recipient of Fee Shares	Role	Number of Fee Shares
Mr Sandy Barblett	Non-Executive Chair	869,565
Mr Anthony Eastman	Non-Executive Director	869,565

In addition, as announced on 15 July 2024, the balance of 43,125,798 Performance Shares due to be issued to the remaining DVK Vendors (such terms as defined in the 8 July 2024 announcement), excluding Alex Walker, will be issued and allotted pursuant to the publication of the Prospectus.  

All of the above share issuances are conditional inter alia on admission as defined below.

Application to listing and trading

Applications will be made for the New Ordinary Shares to be admitted to trading on the London Exchange ("Admission") and it expected that Admission will become effective at 8.00 a.m. on 16 October 2024. The expected timetable of principal events for the Admission is set out below. All references to time in this announcement are to London time. Any changes to the expected timetable will be notified by the Company though an RIS.

Total Voting Rights

The Company hereby notifies the market, in accordance with the FCA's Disclosure Guidance and Transparency Rule 5.6.1, that on Admission, the Company's expected issued share capital will consist of 397,515,919 Ordinary Shares, each with one vote. The Company does not hold any Ordinary Shares in Treasury. On Admission, the total number of voting rights in the Company is expected to be 397,515,919 and this figure may be used by Shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.

Unless otherwise defined, capitalised terms used in this announcement shall have the same meaning as set out in the Prospectus.

Expected Timetable of Events

Publication of Prospectus	10 October 2024
Expected date of admission and commencement of unconditional dealings in the New Ordinary Shares	8.00 a.m. on 16 October 2024
CREST members' accounts credited in respect of the New Ordinary Shares (where appliable)	16 October 2024
Share certificates despatched in respect of the New Ordinary Shares (where applicable)	14 days from the date of Admission

East Star Resources Plc

Alex Walker, Chief Executive Officer

Tel: +44 (0)20 7390 0234 (via Vigo Consulting)

SI Capital (Corporate Broker)

Nick Emerson

Tel: +44 (0)1483 413 500

Peterhouse Capital Limited (Corporate Broker)

Tel: +44 (0) 20 7469 0930

Vigo Consulting (Investor Relations)

Ben Simons / Peter Jacob

Tel: +44 (0)20 7390 0234

About East Star Resources Plc

East Star Resources is focused on the discovery and development of copper and other strategic minerals required for the energy revolution. With eight licences covering >1,000 km² in three mineral rich districts of Kazakhstan, East Star is undertaking an intensive exploration programme, applying modern geophysics to discover minerals in levels that were not previously explored. East Star's most advanced project is a copper deposit on the world-class Rudny Altai VMS Belt where the Company delivered a JORC compliant inferred resource of 20.3Mt @ 1.16% copper, 1.54% zinc and 0.27% lead close to infrastructure, within trucking distance of third-party mills with excess capacity. East Star's management are based permanently on the ground, supported by local expertise, and a joint venture with the state mining company on certain projects. In 2024, East Star was selected to receive grant funding through the BHP Xplor programme for copper porphyry exploration.

Visit our website:

www.eaststarplc.com

Follow us on social media:

LinkedIn:  https://www.linkedin.com/company/east-star-resources/

X (formerly Twitter):  https://x.com/EastStar_PLC

Subscribe to our email alert service to be notified whenever East Star releases news:

www.eaststarplc.com/newsalerts

The person who arranged for the release of this announcement was Alex Walker, CEO of the Company.

This announcement contains inside information for the purposes of Article 7 of Regulation 2014/596/EU which is part of domestic UK law pursuant to the Market Abuse (Amendment) (EU Exit) Regulations (SI 2019/310) ("UK MAR"). Upon the publication of this announcement, this inside information (as defined in UK MAR) is now considered to be in the public domain.

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