Last checked at 18 Nov 2020 07:00
Adriatic Metals PLC
('Adriatic Metals' or the 'Company')
ISSUE OF PERFORMANCE RIGHTS & OPTIONS
Adriatic Metals PLC (ASX:ADT, LON:ADT1) announces that it has granted and issued 825,000 unlisted performance rights ("PRs") under the Company's Employees and Consultants Incentive Plan.
Additionally, pursuant to the ordinary shareholder resolution passed at the Company's AGM on 6 November 2020, 1,000,000 unlisted Options have been granted and issued to Sanela Karic, a Non-executive Director, under the Company's Employees' and Consultants' Incentive Plan.
Following the grant of the abovementioned PRs and Options the Company's capital structure is as follows:
No. | |
Unrestricted ordinary shares in issue | 201,496,519 |
Unlisted Options | 17,969,779 |
Unlisted Performance Rights | 4,385,000 |
Unlisted Warrants | 4,128,633 |
Fully diluted share capital | 227,979,931 |
Appendix 3G has also been issued to the Australian Securities Exchange (ASX) and is available on the Company's website: https://www.adriaticmetals.com/investors/asx-announcements/
Separately, the Company advises that the following presentation - Delivering A World Class Project has been released to the Australian Securities Exchange. A full PDF version of the announcement is available from the Company's website: https://www.adriaticmetals.com/investors/asx-announcements/
For further information please contact:
Paul CroninManaging Director & CEOinfo@adriaticmetals.com
** ENDS **
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.
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 |
The information below, set out in accordance with the requirements of the EU Market Abuse Regulation, provides further detail on the grant of options to PDMRs.
NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM
1 | Details of the person discharging managerial responsibilities/person closely associated | |||||
a) | Name | Sanela Karic | ||||
2 | Reason for the notification | |||||
a) | Position/status | Non-Executive Director | ||||
b) | Initial notification/ Amendment | Initial notification | ||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | Adriatic Metals PLC | ||||
b) | LEI | 549300OHAH2GL1DP0L61 | ||||
4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |||||
a) | Description of the financial instrument, type of instrument Identification code | Options over ordinary shares
ISIN for Adriatic Metals PLC ordinary shares:ISIN: GB00BL0L5G04 | ||||
b) | Nature of the transaction | Grant of Options | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information - Aggregated volume - Price |
1,000,000 AUD 2,200,000 | ||||
e) | Date of the transaction | 18 November 2020 | ||||
f) | Place of the transaction | Outside a trading venue | ||||
ABOUT ADRIATIC METALS
Adriatic Metals Plc (ASX:ADT, LSE:ADT1) is a precious and base metals explorer and developer that owns the world-class Vares Silver Project in Bosnia & Herzegovina and holds licences across the Raska District in Serbia.
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 pre-feasibility study announced on 15 October 2020 indicate a post-tax NPV8 of US$1,040 million and IRR of 113%. Leveraging its first-mover advantage, Adriatic is rapidly advancing the project into the development phase and through to production with significant cornerstone investment of US$28 million from Queen's Road Capital Investment and European Bank for Reconstruction and Development.
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. There have been no material changes to the assumptions and technical parameters on the updated Mineral Resource Estimate announced on 1 September 2020 and these assumptions continue to apply.
Adriatic Metals acquired TSX-listed Tethyan Resource Corp in 2020, to advance the former Kizevak and Sastavci polymetallic mines in the Raska District, southern Serbia.