CAPITAL METALS PLC

Declaration of Voting Results & Voting Rights Announcements • Sep 30, 2022

National Storage Mechanism | Additional information

RNS Number : 3957B

Capital Metals PLC

30 September 2022

30 September 2022

Capital Metals plc

("Capital Metals" or the "Company")

Result of Annual General Meeting

Capital Metals (AIM: CMET), a mineral sands company approaching mine development stage at the Eastern Minerals project in Sri Lanka (the "Project"), announces that at the Annual General Meeting ("AGM") held earlier today all the resolutions put to the meeting were duly approved by shareholders.

	Ordinary Resolutions	FOR	AGAINST	WITHHELD
1.	To re-elect Mr Teh Kwan Wey as a director of the Company.	57,786,839	25,908	0
2.	To appoint PKF Littlejohn LLP as auditors.	57,786,840	25,907	0
3.	To grant the directors with authority to allot shares pursuant to Section 551 of the Companies Act 2006.	57,786,839	25,908	0
	Special Resolution
4.	To dis-apply pre-emption rights pursuant to Section 570 of the Companies Act 2006.	57,786,089	25,908	0

For further information, please visit www.capitalmetals.com or contact: 

Capital Metals plc Michael Frayne (CEO) James Mahony (CFO)	Via Vigo Consulting
Vigo Consulting (Investor Relations) Ben Simons / Peter Jacob	+44 (0)20 7390 0234 capitalmetals@vigoconsulting.com
SPARK Advisory Partners (Nominated Adviser) Neil Baldwin / James Keeshan	+44 (0)20 3368 3554
WH Ireland Limited (Joint Broker) Harry Ansell / Katy Mitchell	+44 (0)20 7220 1666
Tavira Financial (Joint Broker) Jonathan Evans / Oliver Stansfield	+44 (0)20 7100 5100

About Capital Metals

Capital Metals is developing the Eastern Minerals Project in Sri Lanka, approximately 220km east of Colombo. The Project is one of the highest-grade mineral sands projects globally, with a current JORC Resource of 17.2Mt with an average grade of 17.6% Total Heavy Minerals, and potential for significant resource extension. In May 2022, a third-party Preliminary Economic Assessment ("PEA") provided an NPV for the Project of US$155-235M based on existing resources, with further identified optimisation potential. The PEA outlined an attractive low funding requirement of US$37.3M, with expansions funded through cashflows from the Project, which is forecast to deliver US$645M of revenue and net operating cashflows of US$391M.

CMET's goal is to become a high margin producer of mineral sands for the international market, with a commitment to applying best-in-class mining practices and bringing significant positive benefits to Sri Lanka and the local community.  We expect over 300 direct new jobs to be created and over US$100m in direct government royalties and taxes to be paid.

For more information, visit our website www.capitalmetals.com and follow us on social media:

LinkedIn: https://www.linkedin.com/company/capitalmetals/

Twitter: https://twitter.com/MetalsCapital

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

RAGURSURUNUKOAR