Tungsten West PLC (TUN), the UK-listed mining company, has disclosed a TR-1 major shareholding notification dated 10 November 2026, confirming that Henry Maxey has reduced his voting stake in the business. Maxey's holding has fallen to 5.80% from a previously notified position of 6.28%, representing 78,644,975 voting rights attached directly to ordinary shares. The notification was triggered by an acquisition or disposal of voting rights, crossing a reporting threshold under the Financial Conduct Authority's Disclosure and Transparency Rules.

Key Points

  • Tungsten West PLC (TUN) — UK-listed mining company with ISIN GB00BP6QM557
  • Henry Maxey has disclosed a reduction in his voting stake from 6.28% to 5.80% of Tungsten West's total voting rights
  • Maxey now holds 78,644,975 voting rights directly; the threshold was crossed on 10 November 2026
  • Investors may watch whether further disposals bring Maxey's holding below the next regulatory reporting threshold

Henry Maxey Discloses Reduction in Direct Voting Rights at Tungsten West

The TR-1 form filed on 10 November 2026 confirms that Henry Maxey, whose registered address is listed as 12 Clarendon Road, London, W11 3AB, holds 78,644,975 voting rights directly in Tungsten West PLC under DTR5.1. All of his disclosed interest is held through shares rather than financial instruments, with no positions recorded under DTR5.3.1R or equivalent cash-settled instruments. The announcement states that the date on which the relevant threshold was crossed and the date on which the issuer was notified are both 10 November 2026, indicating prompt regulatory disclosure in line with FCA requirements.

Stake Drops from 6.28% to 5.80% Against Tungsten West's Total Voting Rights

The notification records Maxey's previous position at 6.28% of total voting rights, compared with the resulting position of 5.80% — a reduction of 0.48 percentage points. The total number of voting rights now attributed to Maxey stands at 78,644,975, all of which are directly held and attached to ordinary shares in Tungsten West PLC carrying ISIN code GB00BP6QM557. The company did not disclose the total number of shares in issue within this announcement, meaning the implied share count cannot be independently confirmed from this filing alone.

Maxey Confirmed as Acting Independently With No Controlling Entity

The TR-1 disclosure confirms that Henry Maxey is not controlled by any natural person or legal entity and does not himself control any other undertaking holding an interest in Tungsten West PLC. No proxy voting arrangements are recorded within the notification. The filing was completed in London on 10 November 2026. The announcement states the reason for notification as an acquisition or disposal of voting rights, though the specific transaction detail underpinning the reduction in percentage terms is not elaborated upon within the standard TR-1 form itself.

Regulatory Context for Tungsten West's Major Shareholder Disclosures

Under the FCA's Disclosure and Transparency Rules, holders of significant stakes in UK-listed companies are required to notify both the issuer and the FCA when their voting rights cross prescribed thresholds. For Tungsten West PLC, a company focused on mining operations, the movement of substantial shareholders is a factor investors may monitor as a signal of changing institutional or individual confidence. Any further reduction below the next applicable threshold would trigger an additional notification obligation, making this filing a point of reference for investors tracking the company's major shareholder register.