Aim Rule 26
AIM Rule 26
The information on this page, and found elsewhere within this website, is disclosed in accordance with Rule 26 of the AIM Rules for Companies.
Last reviewed: 25 February 2026.
Description of Company’s business: Switch Metals is focused on developing battery and technology metals mines in Côte d’Ivoire. It holds two licences and has two applications pending for additional licences, as well as exclusive Option Agreements to acquire a further three licences and five licence applications. Together, these represent the largest lithium and tantalum exploration licence and application package in Côte d’Ivoire.
Country of incorporation and main country of operation: The Company is incorporated in England & Wales and its main country of operation is Côte d’Ivoire.
Current Constitutional Documents:
Notices
Financial Reports
Exchange/Trading platforms: The Company’s ordinary shares are only admitted to trading on AIM.
Securities in issue, percentage of shares not in public hands and significant shareholders:
Information last updated on 3 November 2025.
Share Capital
The Company has the following ordinary shares of £0.0085 each (“Ordinary Shares”), Options and Warrants outstanding:
| Number of Ordinary Shares in issue | 118,108,787 |
| Options | 9,950,000 |
| Warrants | 55,259,484 |
The Company holds no shares in treasury.
% of shares not in public hands:
Percentage of securities not held in public hands is 36.1%.
Significant Shareholders (2% or more)
| James Brearley Crest Nominees Limited | 47.77% – 56,424,172 shares |
| Switch Metals, Mauritius | 34.16% – 40,344,658 shares |
| Lynchwood Nominees Limited | 2.19% – 2,587,999 shares |
| Hargreaves Lansdown (Nominees) Limited | 2.11% – 2,489,150 shares |
| Barnard Nominees Limited | 1.56% – 1,836,667 shares |
| Interactive Investor Services Nominees Limited | 1.61% – 1,907,230 shares |
Details of any restrictions on the transfer of securities:
There are no restrictions on the transfer of the Company’s AIM securities.
Company announcements:
AIM Admission Document:
Corporate Governance Code:
The Company has adopted the QCA Corporate Governance Code (“QCA Code”). Details of how the Company will adhere to the QCA Code were set out in the Company’s admission document dated 6 March 2025 and can be viewed below:
Names, brief biography and responsibilities of Directors:
Didier Marcel Murcia – Independent Non-Executive Chairman
Didier Murcia completed a Bachelor of Laws at the University of Western Australia in 1984, and a Bachelor of Laws in 1985. He was admitted as a Solicitor and Barrister of the Supreme Court of Western Australia in 1987. In 1990, he established the legal firm Murcia and Associates, which now operates as MPH Lawyers and which he continues to Chair.
In addition to his legal career, Mr Murcia is an accomplished non-executive director with over 30 years of experience across many jurisdictions including Australia, Africa and North and South America.
His extensive experience in equity capital markets and stakeholder engagement has helped companies develop strong following and support. He is currently non-executive director of Centaurus Metals Limited and Alicanto Minerals Limited, both of which are quoted on the Australian Stock Exchange, and previously served as Aminex PLC, which is listed on the Main Market. He has a keen interest in helping companies meet their stakeholder engagement and ESG objectives and in 2014 was made a Member of the Order of Australia in recognition of his services to the international community through the support of medical and educational resources.
Karl Willis Akueson-Gannyi – Chief Executive Officer
Karl is an Ivorian National and resides in Abidjan, he founded Switch Metals in 2017 and was a co-founder of Awalé Resources where he remains as a director in an advisory role since listing on TSX in 2017. Karl has over 15 years’ experience in the mining sector.
Prior to this Mr Akueson was an investment banker at BMO Capital Markets in London from 2010 to 2014. He graduated from Manchester University in 2009 with an MEng Chemical Engineering & Business Management, followed by an MSc in Metals and Energy Finance from Imperial College London (Royal School of Mines) in 2010.
Andrew (“Andy”) Robert Yeo – Chief Financial Officer
Andy has significant expertise in the oil and gas sector and has, most recently, served as Chief Executive Officer of AIM-quoted Sunda Energy plc having initially joined it as a Non-Executive Director in 2018. In addition to this, Andy has held a variety of roles in private equity and has operational and financial experience in exploration and production activities whilst serving as CFO of Wessex Exploration PLC. He brings 20 years’ experience in multi-discipline corporate advisory services, having worked for UBS and ABN AMRO Hoare Govett before becoming a founder member of Evolution Securities, where he was a board member and Executive Director. He holds a BA (Hons) in Economics from the University of Essex.
John Michael Treacy – Non-Executive Director
John is a London-based experienced financier who specialises in working with growing companies. He qualified as a solicitor in the London office of a major international law firm where he specialised in capital markets and mergers and acquisitions. From there he moved to practice corporate finance in the advisory teams of several prominent UK brokerages where he acted as an adviser to a number of AIM companies and advised on numerous IPOs, acquisitions, debt restructurings and placings.
Mamadou Doumbia ACA – Non-Executive Director
Mamadou has 30 years’ ongoing professional experience, including over 24 years in senior management positions with leading companies on several continents (Europe, Africa, Middle East and Asia), specialising in corporate restructuring, mergers & acquisitions and consulting.
Currently, Mr Doumbia is CEO and co-founder of Africa Energy Transition Services, a consulting firm specialising in energy and climate transition. Additionally, Mamadou was CFO of the national cocoa-coffee trade organisation in Côte d’Ivoire and held key positions at Shell, as well as the role of Senior Manager at PricewaterhouseCoopers (PwC).
Board committees:
For the information on the Company’s Board Committees together with the membership of each, please see below.
Audit Committee – which is chaired by Mr Doumbia who is a Chartered Accountant and supported by Mr Treacy as committee member.
Remuneration Committee – is chaired by Mr Treacy and supported by Mr Murcia.
Takeover Code:
The company is subject to the UK takeover code.
Advisers:
Nominated Adviser and Joint Broker – Allenby Capital Limited
5 St Helen’s Place, London, EC3A 6AB UK
Lead Broker to the Company – Oak Securities
(a trading name of Merlin Partners LLP) 90 Jermyn Street, London SW1Y 9JD UK
Solicitors (UK) to the Company – Marriott Harrison LLP
80 Cheapside, London, EC2V 6EE UK
Solicitors (Africa) to the Company – John W Ffooks & Co
C2-401, 4th Floor, Grand Baie La Croisette 30517 Mauritius
Auditors to the Company – Royce Peeling Green Limited
The Copper Room, Deva City Office Park, Trinity Way, Manchester, M3 7BG UK
Registrars – Neville Registrars Limited
Neville House, Steelpark Road, Halesowen, B62 8HD UK
Consulting Geologist – Arethuse Geology Sarl
29 allée Saint-Jean Arteparc, bâtiment C, 13710 Fuveau, France