Last checked at 13 Jul 2020 07:00
Adriatic Metals PLC
("Adriatic" or the "Company")
Issue of Equity
Adriatic Metals PLC (ASX: ADT/ LON: ADT1) (Adriatic or the Company) advises that it has completed the issue and allotment of 500,000 new Ordinary Shares in the form of Chess Depository Interests in the capital of the Company in connection with the exercise of 500,000 unlisted options, granted under the Company's 2018 share option scheme, at an exercise price of A$0.40 per share.
Application will be made for the new Ordinary 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. Admission is expected on or around 17 July 2020.
Following the allotment of the abovementioned shares, the Company now has a total of 180,340,987 fully paid Ordinary Shares in issue.
An Appendix 2A statement has been issued to the Australian Securities Exchange (ASX) and is available on the Company's website:
https://www.adriaticmetals.com/investors/asx-announcements/
Market Abuse Regulation Disclosure
The information contained within this announcement is deemed by the Company (LEI: 549300OHAH2GL1DP0L61) to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. The person responsible for arranging and authorising the release of this announcement on behalf of the Company is Paul Cronin, Managing Director and CEO.
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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)20 7993 0066 |
Tavistock Communications Limited | |
Charles Vivian, Edward Lee and Gareth Tredway | Tel: +44 (0)20 7920 3150 |
ABOUT ADRIATIC METALS
Adriatic Metals Plc (ASX:ADT, LSE: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.