TIDMADT1

RNS Number : 4097B

Adriatic Metals PLC

30 January 2020

30 January 2020

RESULTS OF GENERAL MEETING

A General Meeting of Adriatic Metals PLC (ASX:ADT, LON:ADT1) ("Adriatic" or "the Company") was held on 30 January 2020 at the offices of DLA Piper, Level 31, Central Park, 152-158 St George's Terrace, Perth, Australia at 11:00 local time. Each of the Ordinary Resolutions contained in the Notice of Meeting was put to the meeting, voted on by way of a poll, and duly approved.

The total number of votes received on each resolution put to the meeting was as follows:

 
 Resolution   Resolution                      Votes        Votes AGAINST   Votes        Votes 
  number                                       FOR (A)                      Abstain      Excluded 
              Approve and ratify 
               the issue of 1,000,000 
               unlisted Options to 
 1             Ms Sandra Bates                54,539,701      508,008      28,452,102       - 
             ------------------------------  -----------  --------------  -----------  ---------- 
              Approve and ratify 
               the issue of 1,000,000 
               unlisted Options to 
 2             Mr John Richards               44,741,845    10,305,864     28,452,102       - 
             ------------------------------  -----------  --------------  -----------  ---------- 
              Approve the issue of 
               4,000,000 unlisted 
               Performance Rights 
               to Mr Milos 
 3             Bosnjakovic                    50,865,579     4,182,130     28,452,102       - 
             ------------------------------  -----------  --------------  -----------  ---------- 
              Approve and ratify 
               the prior issue of 
               15,878,508 New CIDs 
               (CHESS Depositary Interests) 
 4             to institutional investors     49,375,809      27,500       28,452,102   5,659,400 
             ------------------------------  -----------  --------------  -----------  ---------- 
              Approve and ratify 
               the prior issue of 
               9,121,492 New CIDs 
               (CHESS Depositary Interests) 
 5             to institutional investors     49,375,809      27,500       28,452,102   5,659,400 
             ------------------------------  -----------  --------------  -----------  ----------

Notes:

(a) The "For" vote includes proxy votes giving the Chairman discretion.

** ENDS **

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

 
 Adriatic Metals PLC                     Tel: +44 (0)20 7993 0066 
 Paul Cronin / Emma Chetwynd Stapylton 
 
 Blytheweigh (IR/PR Contact)             Tel: +44 (0)20 7138 3204 
 Camilla Horsfall / Megan Ray

ABOUT ADRIATIC METALS

Adriatic Metals PLC (ASX:ADT, LON:ADT1) ("Adriatic" or the "Company") is a dual listed (ASX and LSE) precious and base metals explorer and developer via its 100% interest in the world class Vares Project (the "Project") in Bosnia & Herzegovina. The Project comprises a historic open cut mine at Veovaca and brownfield exploration at Rupice, an advanced proximal deposit which exhibits exceptionally high grades of base and precious metals.

The Company announced the results of a Scoping Study on 19 November 2019 which indicated an NPV(8) of US$917 million and IRR of 107%, following the release of a Maiden Resource Estimate earlier the year on 23 July 2019. There have been no material adverse changes in the assumptions underpinning the forecast financial information or material assumptions and technical parameters underpinning the Maiden Resource Estimate since the original relevant market announcements which continue to apply.

Adriatic has attracted a world class team to both expedite its exploration efforts to expand the current JORC resource at the high-grade Rupice deposit and to rapidly advance the Project into the development phase utilising its first mover advantage and strategic position in Bosnia.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

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January 30, 2020 02:33 ET (07:33 GMT)

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