Overview of the Retail Share Offer#
Switch Metals, a mining company focused on critical metals in Côte d’Ivoire, has announced a retail share offer to raise up to £150,000. This initiative is part of their strategy to engage with investors through the Winterflood Retail Access Platform (WRAP).
Details of the Share Issuance#
The company plans to issue up to 1,500,000 new ordinary shares, priced at 10 pence each. This price reflects a discount of approximately 23% compared to the mid-market closing price from the previous Tuesday. The offer is available to both new and existing shareholders in the UK, with a minimum investment of £100 per person.
Timeline and Conditions#
The retail offer is set to close at 16:30 on Thursday, May 1, with results expected around Monday, May 5. It's important to note that the completion of this retail offer is contingent upon the successful completion of a separate £1 million subscription also announced today. However, the subscription itself is not dependent on the retail offer.
Regulatory Information#
Once the new shares are issued, they are expected to be admitted for trading on AIM, a market for smaller companies, at 08:00 on Wednesday, May 7, 2026. The company retains the right to scale back orders and reject applications without explanation. Additionally, once applications are accepted through an intermediary, they cannot be withdrawn. This offer is made under specific regulatory exceptions and does not require a full prospectus.