Eastinco Mining and Exploration is set to be listed in London Stock Exchange Main Market for listed securities.
Charles Bray, Executive Chairman of Eastinco confirmed the report and said the firm has also filed file an application to change its name to Aterian plc. The new name was used in the dealing under the ticker “ATN” (ISIN: GB00BKS7ZV87).
Following the admission, the company will have 964,694,093 ordinary shares in issue which shareholders should use this figure 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.
Green economy
“We are excited to develop and explore in Africa’s most business-friendly countries, focusing on metals that are essential to realizing key strategic objectives for the green economy, as well as global health and international security. We look forward to applying the proceeds of the fundraise to the exploration of our portfolio of assets with the aim of creating and realising long-term value for the company’s shareholders, “commented Charles Bray, Executive Chairman of Eastinco.
“The company is diversified by jurisdiction and commodity and has a strong critical and strategic metal asset base, whilst continuing to support ethical and sustainable supply chains. The Board and management have significant technical and transactional experience, which will be leveraged to potentially acquire and develop undervalued strategic metal assets across Africa. The company intends to become an important supplier of commodities and be integral to the development of the renewable energy, automotive and electronic manufacturing sectors,” he added.
On admission, Elemental Altus will become the company’s largest shareholder, owning 25% of the company’s issued share capital. A representative of Elemental Altus, Alister Masterton-Hume, will join the board of the company.