Last checked at 13 Nov 2019 10:00
13 November 2019
Issue of Shares to Consultant
Asiamet Resources Limited ("ARS" or the "Company") notes that Whittle Consulting Pty Ltd (the "Consultant"), a consultant to the Company responsible for performing work in conjunction with the BKM Feasibility Study, has agreed with the Company to accept half its invoiced fees, being US$200,000 (£162,824), in common shares of the Company in settlement of such invoices.
The share price used for the calculation is a 5-day VWAP over the 5 trading days immediately following the end of the last close period, being completion of the financing announced on 20 August 2019. In this case the share price used based on the above formula was approximately 3.612 pence per share and accordingly the Consultant will receive 4,507,335 common shares (the "New Common Shares").
Application will be made for the New Common Shares to be admitted to trading on AIM ("Admission"). It is expected that Admission to AIM will become effective and dealings in the New Common Shares will commence on or around 14 November 2019. The New Common Shares will rank pari passu in all respects with the existing common shares in the Company.
The total number of common shares outstanding after completion of the issue of the New Common Shares will increase from 1,096,360,742 to 1,100,868,077. This represents the total number of voting rights in the Company and may be used by shareholders as the denominator for the calculations by which they can determine if they are required to notify their interest in, or a change to their interest in the Company under the Financial Conduct Authority's Disclosure and Transparency Rules.
For further information, please contact:-Ends-
Peter BirdCEO, Asiamet Resources LimitedTelephone: +61 3 8644 1300Email: peter.bird@asiametresources.com
Tony ManiniExecutive Chairman, Asiamet Resources LimitedTelephone: +61 3 8644 1300Email: tony.manini@asiametresources.com
FlowComms Limited
Sasha Sethi
Telephone: +44 (0) 7891 677 441
Email: Sasha@flowcomms.com
Asiamet Resources Nominated Adviser
RFC Ambrian Limited
Bhavesh Patel / Stephen Allen
Telephone: +44 20 3440 6800
Email: Bhavesh.Patel@rfcambrian.com / Stephen.Allen@rfcambrian.com
Berenberg
Matthew Armitt, Detlir Elezi
Telephone: +44 20 3753 3142
Email: Matthew.Armitt@berenberg.com / Detlir.Elezi@berenberg.com
Liberum
Clayton Bush, Kane Collings
Telephone: +44 7773 322679
Email: Clayton.Bush@Liberum.com
Optiva Securities Limited
Christian Dennis
Telephone: +44 20 3137 1903
Email: Christian.Dennis@optivasecurities.com