[SCHEDULE 13G/A] Metalla Royalty & Streaming Ltd. SEC Filing

Rhea-AI Filing Summary

Ryanair Holdings plc (RYAAY) Form 6-K: The filing consists of a Standard Form TR-1 major-holdings notice. CEO Michael O’Leary crossed a disclosure threshold on 23 July 2025 after selling shares: his direct stake fell from 4.07 % to 3.98 %, representing 42,199,999 ordinary shares of the company’s voting rights. No indirect holdings or financial instruments were reported. The issuer was notified on 25 July 2025 and furnished the information to the SEC the same day.

The document is purely procedural, reflecting a marginal ≈0.09 pp reduction in insider ownership. It contains no financial performance data, strategic updates or other material events and is unlikely to affect Ryanair’s operations, outlook or valuation.

Positive

• None.

Negative

• CEO Michael O’Leary reduced his direct stake below the 4 % threshold, signalling limited insider selling.

Insights

Corporate Governance Analyst

TL;DR: Minor insider sale drops CEO stake below 4%; governance impact limited.

Michael O’Leary’s holding slipped by about 0.09 percentage points, triggering a statutory TR-1 notice. He still owns almost 4 % of voting rights, so alignment with shareholders remains strong. No derivatives or indirect holdings were disclosed, limiting complexity and dilution risk. The notice fulfils transparency rules; I view the event as routine and non-impactful.

Portfolio Manager

TL;DR: Insider sale immaterial; does not alter investment thesis.

After the disposal, O’Leary retains 42,199,999 shares, equal to 3.98 % of Ryanair. The change is too small to suggest shifting commitment or influence. With no financial data or strategic announcements, the filing has negligible effect on valuation models or portfolio positioning. I rate the development neutral.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 2)

Metalla Royalty & Streaming Ltd.

(Name of Issuer)

Common Shares

(Title of Class of Securities)

59124U605

(CUSIP Number)

06/30/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 59124U605

1

Names of Reporting Persons

Beedie Investments Limited

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

BRITISH COLUMBIA, CANADA

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 9,546,575.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 9,546,575.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

9,546,575.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

10.3 %

12

Type of Reporting Person (See Instructions)

CO

Comment for Type of Reporting Person: Beneficial ownership described above is based upon 92,524,776 common shares of Issuer outstanding as of May 15, 2025, as reported in Issuer's Form 6-K filed with the SEC on May 15, 2025.

SCHEDULE 13G

CUSIP No. 59124U605

1

Names of Reporting Persons

Beedie Holdings Limited

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

BRITISH COLUMBIA, CANADA

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 9,546,575.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 9,546,575.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

9,546,575.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

10.3 %

12

Type of Reporting Person (See Instructions)

CO

Comment for Type of Reporting Person: Beneficial ownership described above is based upon 92,524,776 common shares of Issuer outstanding as of May 15, 2025, as reported in Issuer's Form 6-K filed with the SEC on May 15, 2025.

SCHEDULE 13G

CUSIP No. 59124U605

1

Names of Reporting Persons

Beedie (2023) Family Trust

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

BRITISH COLUMBIA, CANADA

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 9,546,575.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 9,546,575.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

9,546,575.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

10.3 %

12

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person: Beneficial ownership described above is based upon 92,524,776 common shares of Issuer outstanding as of May 15, 2025, as reported in Issuer's Form 6-K filed with the SEC on May 15, 2025.

SCHEDULE 13G

CUSIP No. 59124U605

1

Names of Reporting Persons

4358 Investments Limited

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

BRITISH COLUMBIA, CANADA

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 9,546,575.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 9,546,575.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

9,546,575.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

10.3 %

12

Type of Reporting Person (See Instructions)

CO

Comment for Type of Reporting Person: Beneficial ownership described above is based upon 92,524,776 common shares of Issuer outstanding as of May 15, 2025, as reported in Issuer's Form 6-K filed with the SEC on May 15, 2025.

SCHEDULE 13G

CUSIP No. 59124U605

1

Names of Reporting Persons

Ryan Beedie

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

BRITISH COLUMBIA, CANADA

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 9,546,575.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 9,546,575.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

9,546,575.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

10.3 %

12

Type of Reporting Person (See Instructions)

IN

Comment for Type of Reporting Person: Beneficial ownership described above is based upon 92,524,776 common shares of Issuer outstanding as of May 15, 2025, as reported in Issuer's Form 6-K filed with the SEC on May 15, 2025.

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Metalla Royalty & Streaming Ltd.
(b)	Address of issuer's principal executive offices: 543 Granville Street, Suite 501 Vancouver, A1, V6C 1X8
Item 2.
(a)	Name of person filing: This Schedule 13G is being filed jointly by: (1) Beedie Investments Limited, a British Columbia, Canada corporation ("BIL"), which is a direct beneficial owner of the common shares of Issuer (the "Common Shares"); (2) Beedie Holdings Limited, a British Columbia, Canada corporation ("BHL"), which 100% owns and controls BIL; (3) Beedie (2023) Family Trust (the "Trust"), a Canadian Resident Trust, which 100% owns and controls BHL; (4) 4358 Investments Limited, a British Columbia, Canada corporation ("4358"), which is the Trustee and has sole control of the Trust; and (5) Ryan Beedie, an individual Canadian citizen, who 100% owns and controls 4358 (collectively, with BIL, BHL, the Trust and 4358, the "Reporting Persons").
(b)	Address or principal business office or, if none, residence: 1111 West Georgia Street, Suite 900, Vancouver, British Columbia V6E 4M3 Canada
(c)	Citizenship: Item 2(a) is incorporated by reference.
(d)	Title of class of securities: Common Shares
(e)	CUSIP No.: 59124U605
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: Each Reporting Person may be deemed to beneficially own 9,546,575 Common Shares.
(b)	Percent of class: The number of Common Shares each of the Reporting Persons may be deemed to beneficially own constitutes approximately 10.3% of the Common Shares outstanding, based upon 92,524,776 Common Shares of Issuer outstanding as of May 15, 2025, as reported in Issuer's Form 6-K filed with the SEC on May 15, 2025.
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 0
	(ii) Shared power to vote or to direct the vote: 9,546,575
	(iii) Sole power to dispose or to direct the disposition of: 0
	(iv) Shared power to dispose or to direct the disposition of: 9,546,575
Item 5.	Ownership of 5 Percent or Less of a Class.
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Beedie Investments Limited

Signature:	/s/ Ryan Beedie
Name/Title:	President
Date:	07/25/2025

Beedie Holdings Limited

Signature:	/s/ Ryan Beedie
Name/Title:	President
Date:	07/25/2025

Beedie (2023) Family Trust

Signature:	/s/ Ryan Beedie
Name/Title:	President/By: 4358 Investments Limited Its: Trustee
Date:	07/25/2025

4358 Investments Limited

Signature:	/s/ Ryan Beedie
Name/Title:	President
Date:	07/25/2025

Ryan Beedie

Signature:	/s/ Ryan Beedie
Name/Title:	Ryan Beedie
Date:	07/25/2025

Exhibit Information

Joint Filing Agreement

FAQ

Why was a TR-1 notification filed for Ryanair (RYAAY)?

Because Michael O’Leary’s voting rights fell below the 4 % threshold on 23 July 2025, requiring disclosure under Irish transparency rules.

What is Michael O’Leary’s current ownership percentage in Ryanair?

He now holds 3.98 % of total voting rights, representing 42,199,999 ordinary shares.

When did Ryanair receive the threshold-crossing notice?

The issuer was notified on 25 July 2025 and furnished the Form 6-K the same day.

Does the Form 6-K contain any financial results or guidance?

No. The document is limited to the major-holdings disclosure and includes no earnings or outlook information.

Are any financial instruments or indirect holdings reported?

No. The notification lists only direct voting rights; no derivatives or indirect positions are disclosed.

Is Michael O’Leary still a significant shareholder in Ryanair?

Yes. Despite the small sale, he remains a major insider with nearly 4 % of the company’s voting rights.