Future Metals NL Grant of Director Performance Rights (1793U)
November 22 2023 - 1:00AM
UK Regulatory
TIDMFME
RNS Number : 1793U
Future Metals NL
22 November 2023
22 November 2023
Future Metals NL
Grant of Director Performance Rights
Further to the approval of Resolution 7 at its recent Annual
General Meeting ("AGM"), Future Metals NL ("Future Metals" or the
"Company", ASX | AIM: FME) announces that on 21 November 2023 it
issued 20,000,000 Performance Rights to Mr Patrick Walta, Executive
Chair of the Company, on the terms and conditions set out in the
Explanatory Statement accompanying the Notice of AGM.
Under the Company's Performance Rights Plan, the 20,000,000
Performance Rights are exercisable for nil consideration up to and
including 21 November 2026 and are subject to the vesting criteria
outlined in the table below:
Performance Criteria No . of Performance Rights
Volume weighted average share price over 5-days ("5-day VWAP") of Future Metals' shares
trading
on the ASX exceeds 10 cents 5,000,000
5-day VWAP of Future Metals' shares trading on the ASX exceeds 20 cents 5,000,000
12 months of continuous employment from the date of 20 November 2023 2,500,000
24 months of continuous employment from the date of 20 November 2023 2,500,000
Obtaining >20% institutional ownership of Future Metals shares; or a strategic partner
for
Panton (at asset or Company level); or a >10% individual cornerstone shareholder in the
Company 2,500,000
Completion of a Scoping Study that supports a Board decision to proceed with a
pre-feasibility
study or definitive feasibility study 2,500,000
---------------------------
Total 20,000,000
Further details are provided in the below PDMR Notification
Form, announced in accordance with Article 19 of the Market Abuse
Regulation (EU) 596/2014 as it forms part of United Kingdom
domestic law by virtue of the European Union (Withdrawal) Act 2018,
as amended.
This announcement has been approved for release by the Board of
Future Metals NL.
Further Information
For further information please refer to the ASX platform under
ASX code FME or visit the Company's website at
www.future-metals.com.au .
Future Metals NL +61 8 9480 0414
Jardee Kininmonth info@future-metals.com.au
Strand Hanson Limited (Nominated
Adviser) +44 (0) 207 409 3494
James Harris/James Bellman
Panmure Gordon (UK) Limited (UK
Broker)
John Prior/Hugh Rich/Rauf Munir +44 (0)207 886 2500
FlowComms (UK IR/PR) +44 (0) 789 167 7441
Sasha Sethi
PDMR Notification Form :
The notification below is made in accordance with the
requirements of MAR.
1. Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Patrick Walta
-------------------------------- ---------------------------------
2. Reason for the Notification
-------------------------------------------------------------------
a) Position/status Executive Chair
-------------------------------- ---------------------------------
b) Initial notification/amendment Initial notification
-------------------------------- ---------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-------------------------------------------------------------------
a) Name Future Metals NL
-------------------------------- ---------------------------------
b) LEI 213800WZ1MNQPOAKNU50
-------------------------------- ---------------------------------
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 Performance Rights over ordinary
instrument, type of instrument shares of no par value in the
capital of the Company
-------------------------------- ---------------------------------
Identification code AU0000157745
-------------------------------- ---------------------------------
b) Nature of the Transaction Grant of Performance Rights over
ordinary shares of no par value
in the capital of the Company
-------------------------------- ---------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
Nil 20,000,000
-----------
-------------------------------- ---------------------------------
d) Aggregated information N/A (Single transaction)
Aggregated volume Price
-------------------------------- ---------------------------------
e) Date of the transaction 21 November 2023
-------------------------------- ---------------------------------
f) Place of the transaction Outside of a trading venue
-------------------------------- ---------------------------------
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END
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