Last checked at 9 Jul 2021 07:00
Adriatic Metals PLC
('Adriatic Metals' or the 'Company')
ALLOTMENT OF SHARES
Adriatic Metals PLC (ASX:ADT, LSE:ADT1) confirms that is has completed the allotment of 77,963 Ordinary shares of £0.013355 each ("Shares"), in the form of Chess Depository Interests, to Sandfire Resources Limited ("Sandfire") pursuant to Sandfire's anti-dilution right under the Collaboration and Strategic Partnership Deed between the Company and Sandfire. The consideration paid for the Shares was £95,894.49 (£1.23 per share).
Application will be made to the Financial Conduct Authority and the London Stock Exchange for the Shares to be admitted to the standard segment of the Official List and to trading on the Main Market of the London Stock Exchange ("Admission").
The Shares rank pari passu with the existing Ordinary shares. Admission of the Shares is expected to take place on or around 16 July 2021.
The Company confirms that as at the date of this announcement, the Company's issued share capital comprises 213,394,533 ordinary shares of £0.013355 each, with each share carrying the right to one vote. The Company does not hold any ordinary shares in treasury.
The above figure of 213,394,533 may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or of a change to their interest in the Company under the FCA's Disclosure and Transparency Rules.
A cleansing notice and Appendix 2A (Application for quotation of securities) in relation to the allotment of the Shares has also been filed with the Australian Securities Exchange (ASX) and is available on the Company's website: https://www.adriaticmetals.com/investors/asx-announcements/
** ENDS **
For further information please visit www.adriaticmetals.com; @AdriaticMetals on Twitter; or contact:
Adriatic Metals PLC | |
Paul Cronin / Thomas Horton | Tel: +44 (0) 7866 913207 |
Canaccord Genuity Limited (Joint Corporate Broker) | |
Jeremy Dunlop (Australia) | Tel: +61 2 9263 2700 |
James Asensio (UK) | Tel: +44 (0) 207 523 8000 |
RBC Capital Markets (Joint Corporate Broker) | |
Marcus Jackson / Jamil Miah | Tel: +44 (0) 20 7653 4000 |
Stifel Nicolaus Europe Limited (Joint Corporate Broker) | |
Ashton Clanfield / Callum Stewart | Tel: +44 (0) 20 7710 7600 |
Tavistock Communications Limited | |
Charles Vivian | Tel: +44 (0) 7977 297 903 |
The Capital Network | |
Julia Maguire / Lelde Smits | Tel: +61 2 8999 3699 |
ABOUT ADRIATIC METALS
Adriatic Metals Plc (ASX:ADT, LSE:ADT1) is a precious and base metals developer that is advancing the world-class Vares Silver Project in Bosnia & Herzegovina, as well as the Raska Zinc-Silver Project in Serbia.
The Vares Project Pre-Feasibility Study boasts robust economics of US$1,040 million post-tax NPV8, 113% IRR and a capex of US$173 million. The Company is the only publicly listed mining company exploring in Bosnia and is leveraging its first-mover advantage. The Company is well-funded and concurrent with the advancing Definitive Feasibility Study, continues exploring across its large concession package.
Adriatic Metals Plc completed the acquisition TSX-listed Tethyan Resource Corp. in Q4 2020, which contained the Raska Zinc-Silver Project in southern Serbia. The Company is exploring across its 95km2 highly prospective concession area, which includes around the formerly operating Kizevak and Sastavci polymetallic mines.
There have been no material changes to the assumptions underpinning the forecast financial information derived from the production target in the 15 October 2020 announcement and these assumptions continue to apply and have not materially changed. Adriatic Metals is not aware of any new information or data that materially affects the information included in the announcement of the updated Mineral Resource Estimate announced on 1 September 2020 and all material assumptions and technical parameters underpinning the Mineral Resource Estimate continue to apply and have not materially changed.