TIDMADT1
RNS Number : 6215F
Adriatic Metals PLC
18 November 2020
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 Cronin
Managing Director & CEO
info@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/ Initial notification
Amendment
---------------------------- -----------------------------------------
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, Options over ordinary shares
type of instrument
Identification code ISIN for Adriatic Metals PLC ordinary
shares:
ISIN: GB00BL0L5G04
---------------------------- -----------------------------------------
b) Nature of the transaction Grant of Options
---------------------------- -----------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
AUD 2.20 1,000,000
----------
---------------------------- -----------------------------------------
d) Aggregated information
* Aggregated volume 1,000,000
AUD 2,200,000
* Price
---------------------------- -----------------------------------------
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 NPV(8) 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.
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END
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