Metir PLC (MET) has received a TR-1 major holdings notification confirming that Northern Standard Limited and Tracarta Limited crossed a significant voting rights threshold in the company on 6 November 2026. The combined position, held partly through nominee Fiske Nominees Limited, amounts to 23.29% of total voting rights when financial instruments are included. The notification, dated 9 November 2026, also reveals that Dr John Wardle is the ultimate controlling natural person behind both entities, making this disclosure particularly significant for investors monitoring the company's shareholder structure.

Key Points

  • Metir PLC (MET) — London-listed company subject to UK Disclosure and Transparency Rules (DTR5)
  • Northern Standard Limited and Tracarta Limited crossed the voting rights notification threshold on 6 November 2026, moving from 0% to a combined 23.29% total position
  • Total voting rights held: 221,794,873 shares and instruments, representing 20.60% via shares and 2.69% via warrants
  • Investors should watch whether this position continues to grow and whether any formal intentions regarding the holding are subsequently disclosed

Northern Standard and Tracarta Disclose 23.29% Combined Stake in Metir PLC

The TR-1 notification filed with the FCA confirms that Northern Standard Limited and Tracarta Limited collectively hold 221,794,873 voting rights in Metir PLC, equating to 23.29% of total voting rights. Of this, 20.60% is attached directly to shares — comprising 196,177,157 direct and 25,617,716 indirect voting rights — while a further 2.69% arises from financial instruments. Both entities are registered at Connaught House, St. Julian's Avenue, St. Peter Port, Guernsey. The position is a new one, with the previous notification standing at 0%, indicating this threshold was crossed for the first time on 6 November 2026.

Fiske Nominees Limited Named as Registered Shareholder Holding the Indirect Interest

The announcement identifies Fiske Nominees Limited, registered at 100 Wood Street, London, EC2V 7AN, as the shareholder of record for the indirect portion of the holding. This arrangement is common in UK equity markets where nominee accounts are used to hold shares on behalf of beneficial owners. The direct voting rights of 196,177,157 shares are attributed separately under ISIN GB00BM8YVK98. The notification distinguishes between the direct interest held under DTR5.1 and the indirect interest under DTR5.2.1, as required by regulatory disclosure standards applicable to major UK-listed shareholdings.

Three Warrant Tranches Add 2.69% to the Notified Position in Metir PLC

Beyond the equity holding, the disclosure details three separate warrant tranches that contribute the 2.69% financial instruments component. The largest tranche consists of 18,181,818 warrants exercisable at 0.275p, expiring 6 November 2031, representing 1.91% of voting rights. A second tranche of 6,666,667 warrants at 1.5p expires 24 December 2027, adding 0.70%. A third and smaller tranche of 769,231 warrants at 0.65p expires 16 June 2030, contributing 0.08%. Together these warrant tranches total 25,617,716 potential voting rights, as confirmed in the announcement.

Dr John Wardle Identified as Ultimate Controlling Person Behind Both Notifying Entities

The notification's additional information section states that Dr John Wardle owns 100% of Tracarta Limited, which in turn holds 51% of Northern Standard Limited. This chain of control makes Dr Wardle the ultimate natural person behind the combined 23.29% position disclosed in the filing. Tracarta Limited itself is attributed 1.51% of voting rights through shares and 0.78% through financial instruments within the chain, while Northern Standard Limited carries the larger portion at 19.09% through shares and 1.91% through warrants. Investors may monitor whether further disclosures relating to Dr Wardle's intentions are forthcoming.