Last checked at 8 Sep 2020 07:00
Adriatic Metals PLC
('Adriatic Metals' or the 'Company')
CLEANSING NOTICE AND APPENDIX 2A
Adriatic Metals PLC (ASX:ADT, LON:ADT1) advises that a cleansing notice and Appendix 2A (Application for quotation of securities) has today been filed with the Australian Securities Exchange (ASX) and is available on the Company's website:
https://www.adriaticmetals.com/investors/asx-announcements/
The Company also advises that, further to the announcement dated 26 August 2020, application has been made to the Financial Conduct Authority and the London Stock Exchange for a total of 200,000 new Ordinary shares of 0.013355p each ("Shares") to be admitted to the standard segment of the Official List of the UK Financial Conduct Authority, and to trading on the main market of the London Stock Exchange.
The Shares were issued by the Company on 26 August 2020 as a result of the exercise of existing share options granted by the Company under the Company's 2019 share options scheme, at an exercise price of A$1.25 per share.
Such Shares rank pari passu with the existing Ordinary shares. Admission of the Shares is expected on or around 10 September 2020.
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For further information please visit www.adriaticmetals.com; @AdriaticMetals on Twitter; or contact:
Adriatic Metals PLC | |
Paul Cronin / Emma Chetwynd Stapylton | Tel: +44 (0) 203 950 9138 |
Tavistock Communications Limited | |
Charles Vivian | Tel: +44 (0) 7977 297903 |
Edward Lee | Tel: +44 (0) 7736 220565 |
Gareth Tredway | Tel: +44 (0) 7785 974264 |
The Capital Network | |
Julia Maguire/Lelde Smits | Tel: +61 2 8999 3699 |
About Adriatic Metals
Adriatic Metals Plc (ASX:ADT, LON:ADT1) is a precious and base metals explorer and developer that owns the world-class advanced polymetallic Vares project in Bosnia & Herzegovina.
The Vares project consists of two high-grade polymetallic deposits, located at Rupice and Veovaca. Bosnia & Herzegovina is well-positioned in central Europe and boasts a strong mining history, pro-mining environment, highly-skilled workforce as well as extensive existing infrastructure and logistics.
The Vares project's captivating economics and impressive resource inventory have attracted Adriatic's highly experienced team, which is expediting exploration efforts to expand the current JORC resource. Results of a recent scoping study indicate an NPV8 of US$917 million and IRR of 107%. Leveraging its first-mover advantage, Adriatic is rapidly advancing the project into the development phase and through to production.
There have been no material adverse changes in the assumptions underpinning the forecast financial information or material assumptions and technical parameters underpinning the Maiden Resource Estimate since the original relevant market announcements which continue to apply.