Last checked at 22 Nov 2023 07:00
22 November 2023
Future Metals NL
Grant of Director Performance Rights
Further to the approval of Resolution 7 at its recent Annual General Meeting ("AGM"), Future Metals NL ("Future Metals" or the "Company", ASX | AIM: FME) announces that on 21 November 2023 it issued 20,000,000 Performance Rights to Mr Patrick Walta, Executive Chair of the Company, on the terms and conditions set out in the Explanatory Statement accompanying the Notice of AGM.
Under the Company's Performance Rights Plan, the 20,000,000 Performance Rights are exercisable for nil consideration up to and including 21 November 2026 and are subject to the vesting criteria outlined in the table below:
Performance Criteria | No. of Performance Rights |
Volume weighted average share price over 5-days ("5-day VWAP") of Future Metals' shares trading on the ASX exceeds 10 cents
| 5,000,000 |
5-day VWAP of Future Metals' shares trading on the ASX exceeds 20 cents
| 5,000,000 |
12 months of continuous employment from the date of 20 November 2023 | 2,500,000 |
24 months of continuous employment from the date of 20 November 2023
| 2,500,000 |
Obtaining >20% institutional ownership of Future Metals shares; or a strategic partner for Panton (at asset or Company level); or a >10% individual cornerstone shareholder in the Company
| 2,500,000 |
Completion of a Scoping Study that supports a Board decision to proceed with a pre-feasibility study or definitive feasibility study
| 2,500,000 |
Total | 20,000,000 |
Further details are provided in the below PDMR Notification Form, announced in accordance with Article 19 of the Market Abuse Regulation (EU) 596/2014 as it forms part of United Kingdom domestic law by virtue of the European Union (Withdrawal) Act 2018, as amended.
This announcement has been approved for release by the Board of Future Metals NL.
Further Information
For further information please refer to the ASX platform under ASX code FME or visit the Company's website at www.future-metals.com.au.
Future Metals NL | +61 8 9480 0414 |
Jardee Kininmonth | info@future-metals.com.au |
Strand Hanson Limited (Nominated Adviser) | +44 (0) 207 409 3494 |
James Harris/James Bellman | |
Panmure Gordon (UK) Limited (UK Broker) John Prior/Hugh Rich/Rauf Munir | +44 (0)207 886 2500 |
FlowComms (UK IR/PR) | +44 (0) 789 167 7441 |
Sasha Sethi |
PDMR Notification Form:
The notification below is made in accordance with the requirements of MAR.
1. | Details of the person discharging managerial responsibilities / person closely associated | |||||
a) | Name | Patrick Walta | ||||
2. | Reason for the Notification | |||||
a) | Position/status | Executive Chair | ||||
b) | Initial notification/amendment | Initial notification | ||||
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | Future Metals NL | ||||
b) | LEI | 213800WZ1MNQPOAKNU50 | ||||
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 | Performance Rights over ordinary shares of no par value in the capital of the Company | ||||
Identification code | AU0000157745 | |||||
b) | Nature of the Transaction | Grant of Performance Rights over ordinary shares of no par value in the capital of the Company | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information Aggregated volume Price | N/A (Single transaction) | ||||
e) | Date of the transaction | 21 November 2023 | ||||
f) | Place of the transaction | Outside of a trading venue | ||||