Adriatic Metals PLC Director/PDMR Shareholding (4988J)
December 22 2020 - 3:00AM
UK Regulatory
TIDMADT1
RNS Number : 4988J
Adriatic Metals PLC
22 December 2020
Adriatic Metals PLC
("Adriatic Metals" or the "Company")
DIRECTOR/PDMR SHARE DEALING
Adriatic Metals PLC (ASX:ADT, LSE:ADT1) advises that it has
completed the issue and allotment of 650,000 new Ordinary Shares in
the form of Chess Depository Interests (CDIs) in the capital of the
Company as follows:
-- 250,000 CDIs issued to Mr Geoffrey Eyre, the Company's Chief
Financial Officer and Joint Company Secretary;
-- 250,000 CDIs issued to Phillip Fox, the Company's Chief Geologist; and
-- 150,000 CDIs issued to non-PDMR staff and/or consultants
The CDIs have been issued in connection with the exercise of
650,000 unlisted Performance Rights granted under the Company's
2019 Employee Incentive Plan (Employees and Consultants).
Following the exercise of the abovementioned Performance Rights,
Geoffrey Eyre and Phillip Fox who are Persons Discharging
Managerial Responsibilities, hold the following interests in the
Company:
Name Position Options Shareholding Shareholding
and Performance in Adriatic as a percentage
Rights Metal PLCs of Issued
Share Capital
Chief Financial
Geoffrey Officer and Joint
Eyre Company Secretary 250,000 250,000 0.12%
Phillip
Fox Chief Geologist Nil 250,000 0.12%
A Cleansing Notice and Appendix 2A (Application for quotation of
securities) has today been filed with the Australian Securities
Exchange (ASX) and is available on the Company's website:
https://www.adriaticmetals.com/investors/asx-announcements/
**S **
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 Geoffrey Eyre
----------------------------- ----------------------------------------
2 Reason for the notification
-----------------------------------------------------------------------
a) Position/status Chief Financial Officer
----------------------------- ----------------------------------------
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, Adriatic Metals PLC CHESS Depositary
type of instrument Interests (ordinary shares)
Identification code ISIN: AU0000004772
----------------------------- ----------------------------------------
b) Nature of the transaction Exercise of Performance Rights
----------------------------- ----------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
GBP 0.013355 250,000
----------
----------------------------- ----------------------------------------
d) Aggregated information
* Aggregated volume 250,000
GBP 3,338.75
* Price
----------------------------- ----------------------------------------
e) Date of the transaction 22 December 2020
----------------------------- ----------------------------------------
f) Place of the transaction Outside a trading venue
----------------------------- ----------------------------------------
1 Details of the person discharging managerial responsibilities/person
closely associated
a) Name Phillip Fox
----------------------------- ----------------------------------------
2 Reason for the notification
-----------------------------------------------------------------------
a) Position/status Chief Geologist
----------------------------- ----------------------------------------
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, Adriatic Metals PLC CHESS Depositary
type of instrument Interests (ordinary shares)
Identification code ISIN: AU0000004772
----------------------------- ----------------------------------------
b) Nature of the transaction Exercise of Performance Rights
----------------------------- ----------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
GBP 0.013355 250,000
----------
----------------------------- ----------------------------------------
d) Aggregated information
* Aggregated volume 250,000
GBP 3,338.75
* Price
----------------------------- ----------------------------------------
e) Date of the transaction 22 December 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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