Last checked at 28 Feb 2023 07:00
28 February 2023
Adriatic Metals PLC
('Adriatic Metals' or the 'Company')
ISSUE OF PERFORMANCE RIGHTS
TOTAL VOTING RIGHTS
Adriatic Metals PLC (ASX:ADT, LON:ADT1, OTCQX:ADMLF) announces that on 24 February 2023 it granted and issued 314,533 unlisted performance rights ("PRs") to certain employees and consultants under the Company's Incentive Plans.
Following the grant of the abovementioned PRs, the Company's capital structure is as follows:
No. | |
Unrestricted ordinary shares in issue | 273,863,593 |
Unlisted Options | 4,141,100 |
Unlisted Performance Rights | 731,127 |
Unlisted Warrants | 2,651,020 |
Convertible debentures* | 9,452,387 |
Fully diluted share capital | 290,839,227 |
* Convertible debentures based on an exchange rate of 1 USD : 1.3222 AUD
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/
The Company confirms that, in accordance with the FCA's Disclosure and Transparency Rule 5.6.1(R), as at 28 February 2023 the Company's issued share capital comprises 273,863,593 ordinary shares of £0.013355 par value per share, with each share carrying the right to one vote. The Company does not hold any ordinary shares in treasury.
The above figure of 273,863,593 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.
-ends-
Market Abuse Regulation Disclosure
The information contained within this announcement is deemed by Adriatic (LEI: 549300OHAH2GL1DP0L61) to constitute inside information as stipulated under Article 7 of the Market Abuse Regulation (EU) No 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018, as amended ("UK Market Abuse Regulation").
The person responsible for arranging and authorising the release of this announcement on behalf of Adriatic is Paul Cronin, Managing Director and CEO.
For further information, please contact info@adriaticmetals.com or visit www.adriaticmetals.com; @AdriaticMetals on Twitter
Adriatic Metals PLC | |
Paul Cronin / Klara Kaczmarek | Via Buchanan |
Buchanan | Tel: +44 (0) 20 7466 5000 |
Bobby Morse/ Oonagh Reidy | adriatic@buchanan.uk.com |
Citadel Magnus Cameron Gilenko |
Tel: +61 2 8234 0100 |
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) |
|
James Agnew / 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 |
ABOUT ADRIATIC METALS
Adriatic Metals PLC (ASX:ADT, LSE:ADT1, OTCQX:ADMLF) is a precious and base metals developer that is advancing the world-class Vares Project in Bosnia & Herzegovina, as well as the Raska Project in Serbia.
The Vares Project is fully funded to first concentrate production, which is expected in Q3 2023. The 2021 Project Definitive Feasibility Study boasts robust economics of US$1,062 million post-tax NPV8, 134% IRR and a capex of US$168 million. Concurrent with ongoing construction activities, the Company continues to explore across its highly prospective 42km2 concession package.
There have been no material changes to the assumptions underpinning the forecast financial information derived from the production target in the 19 August 2021 DFS 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.