{"success":true,"data":{"pressRelease":{"id":"169773","rtpr_id":"nPRrF3738a-20261015","ticker":"SRVL","exchange":"LSE","all_tickers":["SRVL"],"title":"REG-Serval Resources Plc: Result of Fundraise","author":"PR Newswire","published_at":"2026-10-15T06:00:24.620Z","article_body":"THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN (TOGETHER THIS\n\"ANNOUNCEMENT\") IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR\nDISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, DIRECTLY OR\nINDIRECTLY, IN, INTO OR FROM THE UNITED STATES OF AMERICA, AUSTRALIA, NEW\nZEALAND, CANADA, THE REPUBLIC OF SOUTH AFRICA, JAPAN OR ANY OTHER JURISDICTION\nWHERE, OR TO ANY OTHER PERSON TO WHOM, TO DO SO MIGHT CONSTITUTE A VIOLATION\nOR BREACH OF ANY APPLICABLE LAW OR REGULATION (\"RESTRICTED JURISDICTION\").\nPLEASE SEE THE IMPORTANT NOTICES AT THE END OF THIS ANNOUNCEMENT.\n\n \n\nTHIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND DOES NOT CONSTITUTE OR\nCONTAIN AN INVITATION, SOLICITATION, RECOMMENDATION, OFFER OR ADVICE TO ANY\nPERSON FOR THE SALE OR SUBSCRIPTION FOR THE SECURITIES IN SERVAL RESOURCES PLC\nIN ANY JURISDICTION IN WHICH SUCH INVITATION, SOLICITATION, RECOMMENDATION,\nOFFER, SUBSCRIPTION OR SALE WOULD BE UNLAWFUL UNDER THE SECURITIES LAWS OF ANY\nSUCH JURISDICTION. THIS ANNOUNCEMENT IS NOT AN OFFER OF OR SOLICITATION TO\nPURCHASE OR SUBSCRIBE FOR SECURITIES IN THE UNITED STATES.\n\n \n\n \n\nTHE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED TO CONSTITUTE\nINSIDE INFORMATION AS STIPULATED UNDER THE ASSIMILATED REGULATIONS (EU) NO.\n596/2014 AND DELEGATED ACTS, IMPLEMENTING ACTS, TECHNICAL STANDARDS AND\nGUIDELINES THEREUNDER AS THEY FORMS PART OF UK LAW BY VIRTUE OF THE EUROPEAN\nUNION (WITHDRAWAL) ACT 2018, AS AMENDED. UPON THE PUBLICATION OF THIS\nANNOUNCEMENT THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC\nDOMAIN.\n\n \n\n \n\nServal Resources Plc\n\n(\"Serval\" or the \"Company\")\n\n15 October 2026\n\n \n\nResult of Fundraise\n\nServal Resources Plc (AIM: SRVL), a company focused on building an\nindependent copper and future metals developer, is pleased to announce that\nfurther to its announcement released at 4.07 p.m. on 14 October 2026 (the\n\"Fundraise Announcement\"), the Bookbuild has now closed and the Company has\nconditionally raised gross proceeds of £6.5 million by way of a successful\nPlacing of, and Subscription for, a total of 26,103,164 new Ordinary Shares at\nthe Issue Price of 25 pence.\n\nSP Angel and H&P acted as Joint Bookrunners in respect of the Placing, which\nwas undertaken via the Bookbuild.\n\nThe Retail Offer remains open for retail investors until 5p.m. today, and the\nresults of the Retail Offer will be made available as soon as practicable\nthereafter.\n\nCapital Access Window\n\nAs detailed in the Fundraise Announcement, the Company entered a Capital\nAccess Window at 7:30 a.m. BST on 7 October 2026, in order to reach a broader\nrange of investors during the Placing. It is intended that the Capital Access\nWindow will remain open until after the Retail Offer has closed, with normal\ntrading in the Company's existing Ordinary Shares expected to resume at 8.00\na.m. on 16 October 2026.\n\nCapitalised terms used in this announcement (the \"Announcement\") have the\nmeanings given to them in the Fundraise Announcement, unless the context\nprovides otherwise.\n\nFirst Tranche of the Fundraise  \n* Pursuant to the Firm Placing, the Company will allot and issue 9,741,164\nFirm Placing Shares conditionally upon, amongst other things, admission of the\nFirm Placing, the Placing Agreement having become unconditional and not having\nbeen terminated in accordance with its terms; and\n \n* Admission of the Firm Placing Shares to trading on AIM is expected to take\nplace by no later than 8:00 a.m. on 16 October 2026 (or such later date and/or\ntime as the Joint Bookrunners and the Company may agree, being no later\nthan 8:00 a.m. on 30 October 2026).\nSecond Tranche of the Fundraise\n\nThe second tranche of the Fundraise will consist of the issue of 14,180,000\nConditional Placing Shares, 2,182,000 Subscription Shares and the Retail Offer\nShares (if any) (the \"Conditional Fundraise Shares\"). The issue of the\nConditional Fundraise Shares will be conditional upon shareholder approval\nbeing received at the General Meeting.\n\nDirector participation in the Fundraise\n\nIn addition, Robin Birchall, John Treacy, Andrew Benitz, Brian Gordon and\nMaximillian Denning have agreed to subscribe for an aggregate of 290,000\nSubscription Shares at the Issue Price, raising gross proceeds of £72,500.\n\nThe updated percentage holdings of the Company's significant shareholders, and\nDirectors will be disclosed in due course, following the General Meeting.\n\nThe KCI Warrants\n\nOn First Admission, KCI will be issued 401,445 Additional Report Warrants and\n4,365,526 Additional Consideration Warrants to subscribe for Ordinary Shares\nat nominal value pursuant to the terms of the KCI Agreement and warrant\ninstruments constituted by the Company on 14 October 2026. \n\nBroker Warrants\n\nAs part of the commission payable to the Joint Bookrunners in respect of the\nPlacing, the Company will issue, in aggregate, 318,395 Broker Warrants to the\nJoint Bookrunners, to be split equally between them. The Broker Warrants are\nexercisable at the Issue Price for a period of 24 months from the date of\nSecond Admission. The issue of the Broker Warrants is conditional upon the\npassing of the Fundraise Resolutions at the General Meeting, and upon Second\nAdmission.\n\nCircular and Notice of General Meeting\n\nThe Company will shortly publish a shareholder circular, which will include a\nNotice of General Meeting setting out the shareholder resolutions for approval\nin respect of the Conditional Fundraise Shares and the Broker Warrants (as\ndefined below) (\"Fundraise Resolutions\"), and the Board's recommendation to\nvote in favour of such resolutions. It is expected that the General Meeting\nwill be held in early November 2026.\n\nAdmission and Total Voting Rights\n\nApplications will be made to the London Stock Exchange for the First Admission\nand the Second Admission, respectively. It is expected that settlement of the\nFirm Fundraise Shares will take place on or around 16 October 2026 and First\nAdmission will become effective and dealings in the Fim Placing Shares will\ncommence at that time. It is expected that, subject to the passing of the\nFundraise Resolutions, settlement of the Conditional Fundraise Shares will\ntake place as soon as practicable following the General Meeting.\n\nFollowing Admission of the Firm Placing Shares, the Company will have\n43,610,902 Ordinary Shares in issue and its issued and outstanding share\ncapital will consist of 43,610,902 New Ordinary Shares each of which carries\none vote and 8,053,725 Deferred Shares, which hold no voting rights. The\nCompany does not hold any shares in treasury. Accordingly, following First\nAdmission, the Total Voting Rights in the Company will be 43,610,902 and\nShareholders may use this figure as the denominator for the calculations by\nwhich they will determine if they are required to notify their interest in, or\na change to their interest in, the Company under the Financial Conduct\nAuthority's Disclosure and Transparency Rules.\n\nThe Firm Placing Shares, when issued, will be fully paid and will rank pari\npassu in all respects with the existing Ordinary Shares, including the right\nto receive all dividends and other distributions declared, made or paid after\nthe date of issue.\n\n \n\nEnquiries: \n\n \n\n Serval Resources                    Company                       Robin Birchall                                + 44 (0) 7711 313 019  robin.birchall@servalresources.com  \n                                     IR                            Cathy Malins                                  +44 (0) 7876 796 629  cathy.malins@servalresources.com     \n SP Angel Corporate Finance LLP      Nominated Advisor and Broker  Charlie Bouverat  David Hignell  Devik Mehta  +44 (0) 20 3470 0470                                       \n Hannam & Partners Advisory Limited  Joint Broker                  Andrew Chubb Leif Powis                       +44 (0) 20 7907 8502                                       \n Tavistock Communications            PR                            Charles Vivian  Eliza Logan                   +44 (0) 20 7920 3150                                       \n\n \n\nAbout Serval Resources \n\nServal Resources (AIM: SRVL) is an AIM-listed explorer focused on copper and\nassociated future metals critical to the global energy transition and digital\neconomy. The company is building a portfolio of exploration and development\nassets in the emerging copper belts of Namibia, Botswana and Côte d'Ivoire,\naiming to become a leading mid-cap player by applying modern, systematic\nexploration techniques in underexplored but highly prospective African\nregions.\n\n  \n\nFor further information, visit: \n* https://servalresources.com/    \n         * https://x.com/ServalResources  \n         * https://www.linkedin.com/company/serval-resources/  \n \n\nImportant Notice\n\n \n\nTHIS ANNOUNCEMENT, INCLUDING THE INFORMATION CONTAINED HEREIN, IS RESTRICTED\nAND IS NOT FOR PUBLICATION, RELEASE OR DISTRIBUTION, DIRECTLY OR INDIRECTLY,\nIN WHOLE OR IN PART, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN,\nTHE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE,\nPUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL (\"RESTRICTED JURISDICTION\").\nFURTHER, THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND IS NOT AN\nOFFER OF SECURITIES IN ANY JURISDICTION.\n\nThis Announcement or any part of it does not constitute or form part of any\noffer to issue or sell, or the solicitation of an offer to acquire, purchase\nor subscribe for, any securities in the United States, Australia, Canada,\nJapan, the Republic of South Africa or any other jurisdiction in which the\nsame would be unlawful or to any person to whom it is unlawful to make such\noffer or solicitation. No public offering of the Placing Shares being made in\nany such jurisdiction.\n\nNo action has been taken by the Company, S.P. Angel Corporate Finance LLP (\"SP\nAngel\"), H&P Advisory Limited (\"H&P\" and, together with SP Angel, the \"Joint\nBookrunners) or any of their respective Affiliates or any of its or their\nrespective directors, officers, partners, employees, agents or advisers\n(collectively \"Representatives\") or any person acting on behalf of any of them\nthat would, or is intended to, permit an offer of the Placing Shares or result\nin the possession or distribution of this Announcement or any other offering\nor publicity material relating to such Placing Shares in any jurisdiction\nwhere action for that purpose is required. Any failure to comply with these\nrestrictions may constitute a violation of the securities laws of such\njurisdiction. Persons into whose possession this Announcement comes are\nrequired to inform themselves about, and to observe, such restrictions.\n\nNo prospectus, offering memorandum, offering document or admission document\nhas been or will be made available in any jurisdiction in connection with the\nmatters contained or referred to in this Announcement and no such document is\nrequired (in accordance with Regulation (EU) No 2017/1129 (the \"EU Prospectus\nRegulation\") or the Public Offers and Admissions to Trading Regulations 2024\n(the \"POATR\")) to be published. Persons needing advice should consult a\nqualified independent legal adviser, business adviser, financial adviser or\ntax adviser for legal, financial, business or tax advice.\n\nThe securities referred to herein have not been and will not be registered\nunder the US Securities Act of 1933, as amended (the \"Securities Act\"), or\nunder the securities laws of, or with any securities regulatory authority of,\nany state or other jurisdiction of the United States, and may not be offered,\nsold, pledged, taken up, exercised, resold, transferred or delivered, directly\nor indirectly, within, into or in the United States absent registration under\nthe Securities Act or pursuant to an exemption from, or in a transaction not\nsubject to, the registration requirements of the Securities Act and in\ncompliance with any applicable securities laws of any state or any other\njurisdiction of the United States. The Placing Shares are being offered and\nsold outside of the United States in \"offshore transactions\" as defined in,\nand pursuant to, Regulation S under the Securities Act (\"Regulation S\"). No\npublic offering of securities will be made in the United States or elsewhere.\n\nThis Announcement has not been approved by the London Stock Exchange.\n\nMembers of the public are not eligible to take part in the Placing.\n\nThe relevant clearances have not been, nor will they be, obtained from the\nsecurities commission of any province or territory of Canada, no prospectus\nhas been lodged with, or registered by, the Australian Securities and\nInvestments Commission or the Japanese Ministry of Finance; the relevant\nclearances have not been, and will not be, obtained from the South Africa\nReserve Bank or any other applicable body in the Republic of South Africa in\nrelation to the Placing Shares and the Placing Shares have not been, nor will\nthey be, registered under or offered in compliance with the securities laws of\nany state, province or territory of Australia, Canada, Japan or the Republic\nof South Africa. Accordingly, the Placing Shares may not (unless an exemption\nunder the relevant securities laws is applicable) be offered, sold, resold or\ndelivered, directly or indirectly, in or into Australia, Canada, Japan, the\nRepublic of South Africa or any other jurisdiction in which such activities\nwould be unlawful.\n\nCertain statements contained in this Announcement constitute \"forward-looking\nstatements\" with respect to the results, financial condition, performance,\ndevelopments or achievements of the Company and its subsidiaries. Words such\nas \"believes\", \"anticipates\", \"estimates\", \"expects\", \"intends\", \"plans\",\n\"aims\", \"potential\", \"may\", \"will\", \"would\", \"could\", \"considered\", \"likely\",\n\"estimate\", \"outlook\" and variations of these words and similar future or\nconditional expressions, are intended to identify forward-looking statements\nbut are not the exclusive means of identifying such statements. These\nstatements and forecasts are inherently predictive, speculative and involve\nrisks and uncertainties and assumptions that could cause actual results,\nfinancial condition, performance, developments or achievements to differ\nmaterially from those expressed or implied by these forward-looking statements\nand forecasts. Many of these risks, uncertainties and assumptions relate to\nfactors that are beyond the Company's ability to control, predict or estimate\nprecisely. No representation or warranty is made, and no responsibility or\nliability is accepted, as to the achievement or reasonableness of, and no\nreliance should be placed on, such forward-looking statements. The\nforward-looking statements contained in this Announcement speak only as of the\ndate of this Announcement. Each of the Company, the Joint Bookrunners, their\nrespective Affiliates, its and their respective Representatives and any person\nacting on behalf of any of them expressly disclaim any obligation or\nundertaking to update or revise publicly any forward-looking statements,\nwhether as a result of new information, future events or otherwise, unless\nrequired to do so by applicable law or regulation or the London Stock\nExchange.\n\nEach of SP Angel and H&P are authorised and regulated in the United Kingdom by\nthe Financial Conduct Authority (\"FCA\"). Each Joint Bookrunner is acting\nexclusively for the Company and no one else in connection with the Placing,\nthe contents of this Announcement or any other matters referred to in this\nAnnouncement. Neither Joint Bookrunner will regard any other person (whether\nor not a recipient of this Announcement) as its client in relation to the\nPlacing, the content of this Announcement or any other matters referred to in\nthis Announcement and will not be responsible to anyone (including any\nPlacees) other than the Company for providing the protections afforded to its\nclients or for providing advice to any other person in relation to the\nPlacing, the content of this Announcement or any other matters referred to in\nthis Announcement. The responsibilities of SP Angel, as nominated adviser\nunder the AIM Rules for Nominated Advisers, are owed solely to the London\nStock Exchange and are not owed to the Company, its directors or any other\nperson.\n\nThis Announcement has been issued by and is the sole responsibility of the\nCompany. No representation or warranty, express or implied, is or will be made\nas to, or in relation to, and no responsibility or liability is or will be\naccepted by either of the Joint Bookrunner or by any of their respective\naffiliates or any person acting on their behalf as to, or in relation to, the\naccuracy or completeness of this Announcement or any other written or oral\ninformation made available to or publicly available to any interested party or\nits advisers, and any liability therefore is expressly disclaimed.\n\nThis Announcement does not constitute a recommendation concerning any\ninvestor's investment decision with respect to the Placing. Any indication in\nthis Announcement of the price at which ordinary shares have been bought or\nsold in the past cannot be relied upon as a guide to future performance. The\nprice of shares and any income expected from them may go down as well as up\nand investors may not get back the full amount invested upon disposal of the\nshares. Past performance is no guide to future performance. This Announcement\ndoes not identify or suggest, or purport to identify or suggest, the risks\n(direct or indirect) that may be associated with an investment in the Placing\nShares. The contents of this Announcement are not to be construed as legal,\nbusiness, financial or tax advice. Each investor or prospective investor\nshould consult their or its own legal adviser, business adviser, financial\nadviser or tax adviser for legal, financial, business or tax advice.\n\nNo statement in this Announcement is intended to be a profit forecast or\nprofit estimate for any period, and no statement in this Announcement should\nbe interpreted to mean that earnings, earnings per share or income, cash flow\nfrom operations or free cash flow for the Company for the current or future\nfinancial years would necessarily match or exceed the historical published\nearnings, earnings per share or income, cash flow from operations or free cash\nflow for the Company.\n\nAll offers of the Placing Shares will be made pursuant to an exemption under\nthe POATR or the EU Prospectus Regulation from the requirement to produce a\nprospectus. This Announcement is being distributed and communicated to persons\nin the UK only in circumstances to which section 21(1) of the Financial\nServices and Markets Act, 2000, as amended, does not apply.\n\nPersons (including, without limitation, nominees and trustees) who have a\ncontractual or other legal obligation to forward a copy of this Announcement\nshould seek appropriate advice before taking any action.\n\nThe New Ordinary Shares to be issued pursuant to the Placing will not be\nadmitted to trading on any stock exchange other than the AIM market of the\nLondon Stock Exchange.\n\nNeither the content of the Company's website (or any other website) nor the\ncontent of any website accessible from hyperlinks on the Company's website (or\nany other website) is incorporated into or forms part of this Announcement.\n\nThis Announcement has been prepared for the purposes of complying with\napplicable law and regulation in the United Kingdom and the information\ndisclosed may not be the same as that which would have been disclosed if this\nAnnouncement had been prepared in accordance with the laws and regulations of\nany jurisdiction outside the United Kingdom.\n\n \n\n \n\n \n\n\n\nCopyright (c) 2026 PR Newswire Association,LLC. All Rights Reserved.","article_body_html":"","raw_payload":{"data":{"id":"nPRrF3738a-20261015","title":"REG-Serval Resources Plc: Result of Fundraise","author":"PR Newswire","ticker":"SRVL","created":"2026-10-15T06:00:24.620Z","tickers":["SRVL"],"exchange":"LSE","article_body":"THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN (TOGETHER THIS\n\"ANNOUNCEMENT\") IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR\nDISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, DIRECTLY OR\nINDIRECTLY, IN, INTO OR FROM THE UNITED STATES OF AMERICA, AUSTRALIA, NEW\nZEALAND, CANADA, THE REPUBLIC OF SOUTH AFRICA, JAPAN OR ANY OTHER JURISDICTION\nWHERE, OR TO ANY OTHER PERSON TO WHOM, TO DO SO MIGHT CONSTITUTE A VIOLATION\nOR BREACH OF ANY APPLICABLE LAW OR REGULATION (\"RESTRICTED JURISDICTION\").\nPLEASE SEE THE IMPORTANT NOTICES AT THE END OF THIS ANNOUNCEMENT.\n\n \n\nTHIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND DOES NOT CONSTITUTE OR\nCONTAIN AN INVITATION, SOLICITATION, RECOMMENDATION, OFFER OR ADVICE TO ANY\nPERSON FOR THE SALE OR SUBSCRIPTION FOR THE SECURITIES IN SERVAL RESOURCES PLC\nIN ANY JURISDICTION IN WHICH SUCH INVITATION, SOLICITATION, RECOMMENDATION,\nOFFER, SUBSCRIPTION OR SALE WOULD BE UNLAWFUL UNDER THE SECURITIES LAWS OF ANY\nSUCH JURISDICTION. THIS ANNOUNCEMENT IS NOT AN OFFER OF OR SOLICITATION TO\nPURCHASE OR SUBSCRIBE FOR SECURITIES IN THE UNITED STATES.\n\n \n\n \n\nTHE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED TO CONSTITUTE\nINSIDE INFORMATION AS STIPULATED UNDER THE ASSIMILATED REGULATIONS (EU) NO.\n596/2014 AND DELEGATED ACTS, IMPLEMENTING ACTS, TECHNICAL STANDARDS AND\nGUIDELINES THEREUNDER AS THEY FORMS PART OF UK LAW BY VIRTUE OF THE EUROPEAN\nUNION (WITHDRAWAL) ACT 2018, AS AMENDED. UPON THE PUBLICATION OF THIS\nANNOUNCEMENT THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC\nDOMAIN.\n\n \n\n \n\nServal Resources Plc\n\n(\"Serval\" or the \"Company\")\n\n15 October 2026\n\n \n\nResult of Fundraise\n\nServal Resources Plc (AIM: SRVL), a company focused on building an\nindependent copper and future metals developer, is pleased to announce that\nfurther to its announcement released at 4.07 p.m. on 14 October 2026 (the\n\"Fundraise Announcement\"), the Bookbuild has now closed and the Company has\nconditionally raised gross proceeds of £6.5 million by way of a successful\nPlacing of, and Subscription for, a total of 26,103,164 new Ordinary Shares at\nthe Issue Price of 25 pence.\n\nSP Angel and H&P acted as Joint Bookrunners in respect of the Placing, which\nwas undertaken via the Bookbuild.\n\nThe Retail Offer remains open for retail investors until 5p.m. today, and the\nresults of the Retail Offer will be made available as soon as practicable\nthereafter.\n\nCapital Access Window\n\nAs detailed in the Fundraise Announcement, the Company entered a Capital\nAccess Window at 7:30 a.m. BST on 7 October 2026, in order to reach a broader\nrange of investors during the Placing. It is intended that the Capital Access\nWindow will remain open until after the Retail Offer has closed, with normal\ntrading in the Company's existing Ordinary Shares expected to resume at 8.00\na.m. on 16 October 2026.\n\nCapitalised terms used in this announcement (the \"Announcement\") have the\nmeanings given to them in the Fundraise Announcement, unless the context\nprovides otherwise.\n\nFirst Tranche of the Fundraise  \n* Pursuant to the Firm Placing, the Company will allot and issue 9,741,164\nFirm Placing Shares conditionally upon, amongst other things, admission of the\nFirm Placing, the Placing Agreement having become unconditional and not having\nbeen terminated in accordance with its terms; and\n \n* Admission of the Firm Placing Shares to trading on AIM is expected to take\nplace by no later than 8:00 a.m. on 16 October 2026 (or such later date and/or\ntime as the Joint Bookrunners and the Company may agree, being no later\nthan 8:00 a.m. on 30 October 2026).\nSecond Tranche of the Fundraise\n\nThe second tranche of the Fundraise will consist of the issue of 14,180,000\nConditional Placing Shares, 2,182,000 Subscription Shares and the Retail Offer\nShares (if any) (the \"Conditional Fundraise Shares\"). The issue of the\nConditional Fundraise Shares will be conditional upon shareholder approval\nbeing received at the General Meeting.\n\nDirector participation in the Fundraise\n\nIn addition, Robin Birchall, John Treacy, Andrew Benitz, Brian Gordon and\nMaximillian Denning have agreed to subscribe for an aggregate of 290,000\nSubscription Shares at the Issue Price, raising gross proceeds of £72,500.\n\nThe updated percentage holdings of the Company's significant shareholders, and\nDirectors will be disclosed in due course, following the General Meeting.\n\nThe KCI Warrants\n\nOn First Admission, KCI will be issued 401,445 Additional Report Warrants and\n4,365,526 Additional Consideration Warrants to subscribe for Ordinary Shares\nat nominal value pursuant to the terms of the KCI Agreement and warrant\ninstruments constituted by the Company on 14 October 2026. \n\nBroker Warrants\n\nAs part of the commission payable to the Joint Bookrunners in respect of the\nPlacing, the Company will issue, in aggregate, 318,395 Broker Warrants to the\nJoint Bookrunners, to be split equally between them. The Broker Warrants are\nexercisable at the Issue Price for a period of 24 months from the date of\nSecond Admission. The issue of the Broker Warrants is conditional upon the\npassing of the Fundraise Resolutions at the General Meeting, and upon Second\nAdmission.\n\nCircular and Notice of General Meeting\n\nThe Company will shortly publish a shareholder circular, which will include a\nNotice of General Meeting setting out the shareholder resolutions for approval\nin respect of the Conditional Fundraise Shares and the Broker Warrants (as\ndefined below) (\"Fundraise Resolutions\"), and the Board's recommendation to\nvote in favour of such resolutions. It is expected that the General Meeting\nwill be held in early November 2026.\n\nAdmission and Total Voting Rights\n\nApplications will be made to the London Stock Exchange for the First Admission\nand the Second Admission, respectively. It is expected that settlement of the\nFirm Fundraise Shares will take place on or around 16 October 2026 and First\nAdmission will become effective and dealings in the Fim Placing Shares will\ncommence at that time. It is expected that, subject to the passing of the\nFundraise Resolutions, settlement of the Conditional Fundraise Shares will\ntake place as soon as practicable following the General Meeting.\n\nFollowing Admission of the Firm Placing Shares, the Company will have\n43,610,902 Ordinary Shares in issue and its issued and outstanding share\ncapital will consist of 43,610,902 New Ordinary Shares each of which carries\none vote and 8,053,725 Deferred Shares, which hold no voting rights. The\nCompany does not hold any shares in treasury. Accordingly, following First\nAdmission, the Total Voting Rights in the Company will be 43,610,902 and\nShareholders may use this figure as the denominator for the calculations by\nwhich they will determine if they are required to notify their interest in, or\na change to their interest in, the Company under the Financial Conduct\nAuthority's Disclosure and Transparency Rules.\n\nThe Firm Placing Shares, when issued, will be fully paid and will rank pari\npassu in all respects with the existing Ordinary Shares, including the right\nto receive all dividends and other distributions declared, made or paid after\nthe date of issue.\n\n \n\nEnquiries: \n\n \n\n Serval Resources                    Company                       Robin Birchall                                + 44 (0) 7711 313 019  robin.birchall@servalresources.com  \n                                     IR                            Cathy Malins                                  +44 (0) 7876 796 629  cathy.malins@servalresources.com     \n SP Angel Corporate Finance LLP      Nominated Advisor and Broker  Charlie Bouverat  David Hignell  Devik Mehta  +44 (0) 20 3470 0470                                       \n Hannam & Partners Advisory Limited  Joint Broker                  Andrew Chubb Leif Powis                       +44 (0) 20 7907 8502                                       \n Tavistock Communications            PR                            Charles Vivian  Eliza Logan                   +44 (0) 20 7920 3150                                       \n\n \n\nAbout Serval Resources \n\nServal Resources (AIM: SRVL) is an AIM-listed explorer focused on copper and\nassociated future metals critical to the global energy transition and digital\neconomy. The company is building a portfolio of exploration and development\nassets in the emerging copper belts of Namibia, Botswana and Côte d'Ivoire,\naiming to become a leading mid-cap player by applying modern, systematic\nexploration techniques in underexplored but highly prospective African\nregions.\n\n  \n\nFor further information, visit: \n* https://servalresources.com/    \n         * https://x.com/ServalResources  \n         * https://www.linkedin.com/company/serval-resources/  \n \n\nImportant Notice\n\n \n\nTHIS ANNOUNCEMENT, INCLUDING THE INFORMATION CONTAINED HEREIN, IS RESTRICTED\nAND IS NOT FOR PUBLICATION, RELEASE OR DISTRIBUTION, DIRECTLY OR INDIRECTLY,\nIN WHOLE OR IN PART, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN,\nTHE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE,\nPUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL (\"RESTRICTED JURISDICTION\").\nFURTHER, THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND IS NOT AN\nOFFER OF SECURITIES IN ANY JURISDICTION.\n\nThis Announcement or any part of it does not constitute or form part of any\noffer to issue or sell, or the solicitation of an offer to acquire, purchase\nor subscribe for, any securities in the United States, Australia, Canada,\nJapan, the Republic of South Africa or any other jurisdiction in which the\nsame would be unlawful or to any person to whom it is unlawful to make such\noffer or solicitation. No public offering of the Placing Shares being made in\nany such jurisdiction.\n\nNo action has been taken by the Company, S.P. Angel Corporate Finance LLP (\"SP\nAngel\"), H&P Advisory Limited (\"H&P\" and, together with SP Angel, the \"Joint\nBookrunners) or any of their respective Affiliates or any of its or their\nrespective directors, officers, partners, employees, agents or advisers\n(collectively \"Representatives\") or any person acting on behalf of any of them\nthat would, or is intended to, permit an offer of the Placing Shares or result\nin the possession or distribution of this Announcement or any other offering\nor publicity material relating to such Placing Shares in any jurisdiction\nwhere action for that purpose is required. Any failure to comply with these\nrestrictions may constitute a violation of the securities laws of such\njurisdiction. Persons into whose possession this Announcement comes are\nrequired to inform themselves about, and to observe, such restrictions.\n\nNo prospectus, offering memorandum, offering document or admission document\nhas been or will be made available in any jurisdiction in connection with the\nmatters contained or referred to in this Announcement and no such document is\nrequired (in accordance with Regulation (EU) No 2017/1129 (the \"EU Prospectus\nRegulation\") or the Public Offers and Admissions to Trading Regulations 2024\n(the \"POATR\")) to be published. Persons needing advice should consult a\nqualified independent legal adviser, business adviser, financial adviser or\ntax adviser for legal, financial, business or tax advice.\n\nThe securities referred to herein have not been and will not be registered\nunder the US Securities Act of 1933, as amended (the \"Securities Act\"), or\nunder the securities laws of, or with any securities regulatory authority of,\nany state or other jurisdiction of the United States, and may not be offered,\nsold, pledged, taken up, exercised, resold, transferred or delivered, directly\nor indirectly, within, into or in the United States absent registration under\nthe Securities Act or pursuant to an exemption from, or in a transaction not\nsubject to, the registration requirements of the Securities Act and in\ncompliance with any applicable securities laws of any state or any other\njurisdiction of the United States. The Placing Shares are being offered and\nsold outside of the United States in \"offshore transactions\" as defined in,\nand pursuant to, Regulation S under the Securities Act (\"Regulation S\"). No\npublic offering of securities will be made in the United States or elsewhere.\n\nThis Announcement has not been approved by the London Stock Exchange.\n\nMembers of the public are not eligible to take part in the Placing.\n\nThe relevant clearances have not been, nor will they be, obtained from the\nsecurities commission of any province or territory of Canada, no prospectus\nhas been lodged with, or registered by, the Australian Securities and\nInvestments Commission or the Japanese Ministry of Finance; the relevant\nclearances have not been, and will not be, obtained from the South Africa\nReserve Bank or any other applicable body in the Republic of South Africa in\nrelation to the Placing Shares and the Placing Shares have not been, nor will\nthey be, registered under or offered in compliance with the securities laws of\nany state, province or territory of Australia, Canada, Japan or the Republic\nof South Africa. Accordingly, the Placing Shares may not (unless an exemption\nunder the relevant securities laws is applicable) be offered, sold, resold or\ndelivered, directly or indirectly, in or into Australia, Canada, Japan, the\nRepublic of South Africa or any other jurisdiction in which such activities\nwould be unlawful.\n\nCertain statements contained in this Announcement constitute \"forward-looking\nstatements\" with respect to the results, financial condition, performance,\ndevelopments or achievements of the Company and its subsidiaries. Words such\nas \"believes\", \"anticipates\", \"estimates\", \"expects\", \"intends\", \"plans\",\n\"aims\", \"potential\", \"may\", \"will\", \"would\", \"could\", \"considered\", \"likely\",\n\"estimate\", \"outlook\" and variations of these words and similar future or\nconditional expressions, are intended to identify forward-looking statements\nbut are not the exclusive means of identifying such statements. These\nstatements and forecasts are inherently predictive, speculative and involve\nrisks and uncertainties and assumptions that could cause actual results,\nfinancial condition, performance, developments or achievements to differ\nmaterially from those expressed or implied by these forward-looking statements\nand forecasts. Many of these risks, uncertainties and assumptions relate to\nfactors that are beyond the Company's ability to control, predict or estimate\nprecisely. No representation or warranty is made, and no responsibility or\nliability is accepted, as to the achievement or reasonableness of, and no\nreliance should be placed on, such forward-looking statements. The\nforward-looking statements contained in this Announcement speak only as of the\ndate of this Announcement. Each of the Company, the Joint Bookrunners, their\nrespective Affiliates, its and their respective Representatives and any person\nacting on behalf of any of them expressly disclaim any obligation or\nundertaking to update or revise publicly any forward-looking statements,\nwhether as a result of new information, future events or otherwise, unless\nrequired to do so by applicable law or regulation or the London Stock\nExchange.\n\nEach of SP Angel and H&P are authorised and regulated in the United Kingdom by\nthe Financial Conduct Authority (\"FCA\"). Each Joint Bookrunner is acting\nexclusively for the Company and no one else in connection with the Placing,\nthe contents of this Announcement or any other matters referred to in this\nAnnouncement. Neither Joint Bookrunner will regard any other person (whether\nor not a recipient of this Announcement) as its client in relation to the\nPlacing, the content of this Announcement or any other matters referred to in\nthis Announcement and will not be responsible to anyone (including any\nPlacees) other than the Company for providing the protections afforded to its\nclients or for providing advice to any other person in relation to the\nPlacing, the content of this Announcement or any other matters referred to in\nthis Announcement. The responsibilities of SP Angel, as nominated adviser\nunder the AIM Rules for Nominated Advisers, are owed solely to the London\nStock Exchange and are not owed to the Company, its directors or any other\nperson.\n\nThis Announcement has been issued by and is the sole responsibility of the\nCompany. No representation or warranty, express or implied, is or will be made\nas to, or in relation to, and no responsibility or liability is or will be\naccepted by either of the Joint Bookrunner or by any of their respective\naffiliates or any person acting on their behalf as to, or in relation to, the\naccuracy or completeness of this Announcement or any other written or oral\ninformation made available to or publicly available to any interested party or\nits advisers, and any liability therefore is expressly disclaimed.\n\nThis Announcement does not constitute a recommendation concerning any\ninvestor's investment decision with respect to the Placing. Any indication in\nthis Announcement of the price at which ordinary shares have been bought or\nsold in the past cannot be relied upon as a guide to future performance. The\nprice of shares and any income expected from them may go down as well as up\nand investors may not get back the full amount invested upon disposal of the\nshares. Past performance is no guide to future performance. This Announcement\ndoes not identify or suggest, or purport to identify or suggest, the risks\n(direct or indirect) that may be associated with an investment in the Placing\nShares. The contents of this Announcement are not to be construed as legal,\nbusiness, financial or tax advice. Each investor or prospective investor\nshould consult their or its own legal adviser, business adviser, financial\nadviser or tax adviser for legal, financial, business or tax advice.\n\nNo statement in this Announcement is intended to be a profit forecast or\nprofit estimate for any period, and no statement in this Announcement should\nbe interpreted to mean that earnings, earnings per share or income, cash flow\nfrom operations or free cash flow for the Company for the current or future\nfinancial years would necessarily match or exceed the historical published\nearnings, earnings per share or income, cash flow from operations or free cash\nflow for the Company.\n\nAll offers of the Placing Shares will be made pursuant to an exemption under\nthe POATR or the EU Prospectus Regulation from the requirement to produce a\nprospectus. This Announcement is being distributed and communicated to persons\nin the UK only in circumstances to which section 21(1) of the Financial\nServices and Markets Act, 2000, as amended, does not apply.\n\nPersons (including, without limitation, nominees and trustees) who have a\ncontractual or other legal obligation to forward a copy of this Announcement\nshould seek appropriate advice before taking any action.\n\nThe New Ordinary Shares to be issued pursuant to the Placing will not be\nadmitted to trading on any stock exchange other than the AIM market of the\nLondon Stock Exchange.\n\nNeither the content of the Company's website (or any other website) nor the\ncontent of any website accessible from hyperlinks on the Company's website (or\nany other website) is incorporated into or forms part of this Announcement.\n\nThis Announcement has been prepared for the purposes of complying with\napplicable law and regulation in the United Kingdom and the information\ndisclosed may not be the same as that which would have been disclosed if this\nAnnouncement had been prepared in accordance with the laws and regulations of\nany jurisdiction outside the United Kingdom.\n\n \n\n \n\n \n\n\n\nCopyright (c) 2026 PR Newswire Association,LLC. All Rights Reserved."},"type":"article","timestamp":"2026-10-15T06:00:24.67014861Z","server_sent_at_ms":1792044024670},"received_at":"2026-10-15T06:00:24.832Z","source_url":null},"analysis":{"id":"157995","press_release_id":"169773","analysis_json":{"industry":{"label":"Metals & Mining","sector":"Materials"},"redFlags":["significant dilution: 26.1M new shares on a post-First-Admission base of 43.6M shares","second tranche conditional on shareholder approval at General Meeting","additional warrants to KCI (4,365,526 consideration warrants plus 401,445 report warrants) and 318,395 broker warrants create further potential dilution"],"eventType":"offering","narrative":"Serval Resources closed its bookbuild and conditionally raised £6.5 million gross via a placing and subscription of 26,103,164 new shares at 25 pence.\n\nThe raise is split into a firm tranche of 9,741,164 shares admitting around 16 October and conditional tranches of 14,180,000 placing shares and 2,182,000 subscription shares pending shareholder approval at a General Meeting expected in early November.\n\nDirectors subscribed for 290,000 shares (£72,500), SP Angel and H&P acted as joint bookrunners, and normal trading is expected to resume at 8:00 a.m. on 16 October with total voting rights of 43,610,902 following First Admission.\n\nThe successful raise funds the copper explorer's work in Namibia, Botswana and Côte d'Ivoire but adds meaningful dilution, with further Retail Offer results still to come.","sentiment":"mixed","agentHooks":{"shouldPost":true,"suggestedAngle":"Copper explorer Serval lands £6.5M raise at 25p, but new shares equal roughly 60% of the enlarged share count."},"keyFigures":{"dealValueUsd":"£6.5 million","offeringPrice":"25 pence","sharesOffered":26103164,"customDimensions":{"broker_warrants":318395,"gross_proceeds_gbp":6500000,"firm_placing_shares":9741164,"subscription_shares":2182000,"conditional_placing_shares":14180000,"director_subscription_shares":290000,"director_subscription_proceeds":"£72,500","total_voting_rights_post_first_admission":43610902}},"namedEntities":{"people":[{"name":"Robin Birchall","role":"Director / Company contact"},{"name":"John Treacy","role":"Director"},{"name":"Andrew Benitz","role":"Director"},{"name":"Brian Gordon","role":"Director"},{"name":"Maximillian Denning","role":"Director"},{"name":"Cathy Malins","role":"Investor Relations"}],"products":[],"companies":[{"name":"Serval Resources Plc","ticker":"SRVL","relationship":"issuer"},{"name":"SP Angel Corporate Finance LLP","relationship":"nominated adviser and joint bookrunner"},{"name":"Hannam & Partners Advisory Limited","relationship":"joint bookrunner"},{"name":"Tavistock Communications","relationship":"PR agency"},{"name":"KCI","relationship":"warrant holder under KCI Agreement"}],"dollarAmounts":[{"amount":"£6.5 million","context":"gross proceeds from Placing and Subscription"},{"amount":"25 pence","context":"Issue Price per new Ordinary Share"},{"amount":"£72,500","context":"gross proceeds from director subscription"}]},"materialImpact":{"score":3,"reasoning":"The company successfully closed a £6.5 million equity raise at 25p per share via a placing and subscription, materially changing share count and providing fresh capital. Dilution is significant relative to the enlarged share base, but the raise completed successfully, and prior-close price data is not stated so discount cannot be assessed."},"tickerRelevance":{"others":[],"primary":"SRVL"},"globalImportance":20,"audienceRelevance":12,"eventTypeSecondary":["dilution"],"importanceComponents":{"tickerTier":"micro-cap AIM","eventGravity":"equity fundraise completion","issuerAuthored":true,"dilutionMagnitude":"high relative to share base"}},"event_type":"offering","event_type_secondary":["dilution"],"sentiment":"mixed","material_impact_score":3,"narrative":"Serval Resources closed its bookbuild and conditionally raised £6.5 million gross via a placing and subscription of 26,103,164 new shares at 25 pence.\n\nThe raise is split into a firm tranche of 9,741,164 shares admitting around 16 October and conditional tranches of 14,180,000 placing shares and 2,182,000 subscription shares pending shareholder approval at a General Meeting expected in early November.\n\nDirectors subscribed for 290,000 shares (£72,500), SP Angel and H&P acted as joint bookrunners, and normal trading is expected to resume at 8:00 a.m. on 16 October with total voting rights of 43,610,902 following First Admission.\n\nThe successful raise funds the copper explorer's work in Namibia, Botswana and Côte d'Ivoire but adds meaningful dilution, with further Retail Offer results still to come.","key_figures":{"dealValueUsd":"£6.5 million","offeringPrice":"25 pence","sharesOffered":26103164,"customDimensions":{"broker_warrants":318395,"gross_proceeds_gbp":6500000,"firm_placing_shares":9741164,"subscription_shares":2182000,"conditional_placing_shares":14180000,"director_subscription_shares":290000,"director_subscription_proceeds":"£72,500","total_voting_rights_post_first_admission":43610902}},"named_entities":{"people":[{"name":"Robin Birchall","role":"Director / Company contact"},{"name":"John Treacy","role":"Director"},{"name":"Andrew Benitz","role":"Director"},{"name":"Brian Gordon","role":"Director"},{"name":"Maximillian Denning","role":"Director"},{"name":"Cathy Malins","role":"Investor Relations"}],"products":[],"companies":[{"name":"Serval Resources Plc","ticker":"SRVL","relationship":"issuer"},{"name":"SP Angel Corporate Finance LLP","relationship":"nominated adviser and joint bookrunner"},{"name":"Hannam & Partners Advisory Limited","relationship":"joint bookrunner"},{"name":"Tavistock Communications","relationship":"PR agency"},{"name":"KCI","relationship":"warrant holder under KCI Agreement"}],"dollarAmounts":[{"amount":"£6.5 million","context":"gross proceeds from Placing and Subscription"},{"amount":"25 pence","context":"Issue Price per new Ordinary Share"},{"amount":"£72,500","context":"gross proceeds from director subscription"}]},"model_name":"glm-5.3-flashx","prompt_hash":"sha256:5c812bd9e28b810d","schema_hash":"sha256:05005c02d9cffac9","created_at":"2026-10-15T06:00:34.390Z","global_importance":20,"audience_relevance":12,"importance_components":{"tickerTier":"micro-cap AIM","eventGravity":"equity fundraise completion","issuerAuthored":true,"dilutionMagnitude":"high relative to share base"}},"durationMs":9536,"modelName":"glm-5.3-flashx"}}