TIDMADT1

RNS Number : 6562Q

Adriatic Metals PLC

01 March 2021

Adriatic Metals PLC

('Adriatic Metals' or the 'Company')

APPLICATION FOR LISTING OF SHARES

Adriatic Metals PLC (ASX:ADT, LSE:ADT1) confirms that application will be made to the Financial Conduct Authority and the London Stock Exchange for a total of 5,237,358 Ordinary shares of GBP0.013355 each ("Shares") to be admitted to the standard segment of the Official List and to trading on the Main Market of the London Stock Exchange ("Admission").

The Shares were issued and allotted by the Company as follows:

 
  Allotment     Announcement      Number of      Issue Price    Reason for allotment 
     Date            Date        shares issued    per share 
 
 24 December     24 December      4,830,156        GBP1.01      Settlement Placement as 
     2020            2020                                        previously announced on 
                                                                 3 November 2020 under the 
                                                                 terms of the Deed of Settlement 
                                                                 and Release between the 
                                                                 Company and Sandfire Resources 
                                                                 Limited. 
  29 January     29 January         115,777          GBP0.17    Shares issued as Chess 
     2021            2021                                        Depository Interests pursuant 
                                                                 to the strategic alliance 
                                                                 agreement between the Company 
                                                                 and Sandfire Resources 
                                                                 Limited. 
  29 January     29 January        125,425         GBP1.26      Shares issued as Chess 
     2021            2021                                        Depository Interests pursuant 
                                                                 to the strategic alliance 
                                                                 agreement between the Company 
                                                                 and Sandfire Resources 
                                                                 Limited. 
 22 February     23 February           166,000     GBP1.27      RAS Metals d.o.o. acquisition 
     2021            2021 
                                     5,237,358 
 

The Shares rank pari passu with the existing Ordinary shares. Admission of the Shares is expected take place on 2 March 2021.

The Company confirms that as at the date of this announcement, the Company's issued share capital comprises 207,983,877 ordinary shares of GBP0.013355 each, with each share carrying the right to one vote. The Company does not hold any ordinary shares in treasury.

The above figure of 207,983,877 may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or of a change to their interest in the Company under the FCA's Disclosure and Transparency Rules.

** ENDS **

For further information please visit www.adriaticmetals.com ; @AdriaticMetals on Twitter; or contact:

 
 Adriatic Metals PLC 
 Paul Cronin / Emma Chetwynd Stapylton   Tel: +44 (0) 7515 357842 
 
 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 
 

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 EBRD.

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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March 01, 2021 02:11 ET (07:11 GMT)