Adriatic Metals PLC Director/PDMR Shareholding (5681Q)
February 26 2021 - 9:41AM
UK Regulatory
TIDMADT1
RNS Number : 5681Q
Adriatic Metals PLC
26 February 2021
Adriatic Metals PLC
('Adriatic Metals' or the 'Company')
(ASX:ADT, LSE:ADT1)
DIRECTOR / PDMR DEALING
This notification is made under Article 19 of the Market Abuse
Regulation (EU) 596/2014 as it forms part of UK domestic law by
virtue of the European Union (Withdrawal) Act 2018 ("MAR").
The Company was informed that on 24 February 2021 Paul Cronin,
the Company's Managing Director and CEO, transferred 14,351,132
shares, in the form of Chess Depositary Interests, and 5,000,000
Unlisted Options to a company wholly owned and controlled by Mr
Cronin. The notification form required by MAR follows.
Additionally, in accordance with the ASX Listing Rules, an
Appendix 3Y, "Change of Director's Interest Notice", for Mr Paul
Cronin has been issued to the Australian Securities Exchange. The
Appendix 3Y is available on the Company's website:
https://www.adriaticmetals.com/investors/asx-announcements/
Authorised by, and for further information please contact:
Geoffrey Eyre
Joint Company Secretary
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 MAR. The person responsible for
arranging the release of this announcement on behalf of the Company
is Paul Cronin, Managing Director and CEO.
The information below, set out in accordance with the
requirements of MAR, 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 Paul Cronin
--------------------------- ------------------------------------------
2 Reason for the notification
-----------------------------------------------------------------------
a) Position/status Managing Director and CEO
--------------------------- ------------------------------------------
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 Transfer from Paul Cronin to Dwellstone
Limited, a company controlled and wholly
owned by Mr Cronin.
--------------------------- ------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
GBP Nil 14,351,132
-----------
--------------------------- ------------------------------------------
d) Aggregated information
* Aggregated volume 14,351,132
Nil
* Price
--------------------------- ------------------------------------------
e) Date of the transaction 24 February 2021
--------------------------- ------------------------------------------
f) Place of the transaction Outside a trading venue
--------------------------- ------------------------------------------
1 Details of the person discharging managerial responsibilities/person
closely associated
a) Name Paul Cronin
--------------------------- ------------------------------------------
2 Reason for the notification
-----------------------------------------------------------------------
a) Position/status Managing Director and CEO
--------------------------- ------------------------------------------
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, Unlisted Options AUD 0.20 Expiring 1
type of instrument July 2023
Identification code
n/a
--------------------------- ------------------------------------------
b) Nature of the transaction Transfer from Paul Cronin to Dwellstone
Limited, a company controlled and wholly
owned by Mr Cronin.
--------------------------- ------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
Nil 5,000,000
----------
--------------------------- ------------------------------------------
d) Aggregated information
* Aggregated volume 5,000,000
Nil
* Price
--------------------------- ------------------------------------------
e) Date of the transaction 24 February 2021
--------------------------- ------------------------------------------
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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