European Metals Holdings Limited Release from Escrow (7355P)
February 12 2019 - 1:00AM
UK Regulatory
TIDMEMH
RNS Number : 7355P
European Metals Holdings Limited
12 February 2019
For immediate release
12 February 2019
EUROPEAN METALS HOLDINGS LIMITED
RELEASE FROM ESCROW
European Metals Holdings Limited ("European Metals" or "the
Company") advises in accordance with ASX Listing Rule 3.10A, that
1,500,000 CDIs will be released from escrow on 26 February
2019.
The CDIs were issued on 6 June 2018 under the Company's Employee
Securities Incentive Plan ("Plan") as approved by shareholders at
the Company's Annual General Meeting held on 30 November 2017 at an
issue price of 48.48 cents per CDI ("Plan CDIs"). Of these
securities, 350,000 CDIs were to be held in escrow until 26
February 2019 and the balance of 1,150,000 CDI still remain subject
to satisfaction of performance-based vesting conditions.
Pursuant to the terms of the Plan, the Company made a
limited-recourse interest-free loan to the participants of the Plan
CDIs at the time of issue of the Plan CDIs to fund the issue price.
Therefore, no cash consideration was paid by the participants to
the Company at the time of subscription for the Plan CDIs. The loan
made to each participant is repayable in accordance with the offer
documents and the Plan. In the event that a participant sells their
respective Plan CDIs, the proceeds from such sale must be applied
first to settle any outstanding balance of the loan.
Julia Beckett
COMPANY SECRETARY
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END
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