Adriatic Metals PLC Allotment of Shares (8041A)
June 04 2021 - 1:00AM
UK Regulatory
TIDMADT1
RNS Number : 8041A
Adriatic Metals PLC
04 June 2021
Adriatic Metals PLC
('Adriatic Metals' or the 'Company')
ALLOTMENT OF SHARES
Adriatic Metals PLC (ASX:ADT, LSE:ADT1) confirms that is has
completed the allotment of 232,440 Ordinary shares of GBP0.013355
each ("Shares"), in the form of Chess Depository Interests, to
Sandfire Resources Limited ("Sandfire") pursuant to Sandfire's
anti-dilution right under the Collaboration and Strategic
Partnership Deed between the Company and Sandfire.
Application will be made to the Financial Conduct Authority and
the London Stock Exchange for the 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 rank pari passu with the existing Ordinary shares.
Admission of the Shares is expected to take place on or around 11
June 2021.
The Company confirms that as at the date of this announcement,
the Company's issued share capital comprises 210,645,909 ordinary
shares of GBP0.013355 each, with each share carrying the right to
one vote. The Company does not hold any ordinary shasres in
treasury.
The above figure of 210,645,909 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.
A cleansing notice and Appendix 2A (Application for quotation of
securities) in relation to the allotment of the Shares has also
been filed with the Australian Securities Exchange (ASX) and is
available on the Company's website:
https://www.adriaticmetals.com/investors/asx-announcements/
** ENDS **
For further information please visit www.adriaticmetals.com ;
@AdriaticMetals on Twitter; or contact:
Adriatic Metals PLC
Paul Cronin / Thomas Horton Tel: +44 (0) 7866
913207
Canaccord Genuity Limited (Joint Corporate Broker)
Jeremy Dunlop (Australia) Tel: +61 2 9263 2700
James Asensio (UK) Tel: +44 (0) 207
523 8000
RBC Capital Markets (Joint Corporate Broker)
Marcus Jackson / Jamil Miah Tel: +44 (0) 20 7653
4000
Stifel Nicolaus Europe Limited (Joint Corporate
Broker)
Ashton Clanfield / Callum Stewart Tel: +44 (0) 20 7710
7600
Tavistock Communications Limited
Charles Vivian Tel: +44 (0) 7977
297 903
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-V 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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