Adriatic Metals PLC ISSUE OF EQUITY AND TOTAL VOTING RIGHTS (5628B)
31 Gennaio 2020 - 9:24AM
UK Regulatory
TIDMADT1
RNS Number : 5628B
Adriatic Metals PLC
31 January 2020
31 January 2020
ISSUE OF EQUITY AND TOTAL VOTING RIGHTS
Cleansing Notice - NOTICE UNDER SECTION 708A(5)(e) OF THE
CORPORATIONS Act
Adriatic Metals PLC (ASX:ADT, LON:ADT1) ("Adriatic" or "the
Company"), confirms that on 31 January 2020 it completed the issue
and allotment of 975,000 new Ordinary Shares in the form of Chess
Depository Interests ("CDIs") in the capital of the Company as
follows:
-- 500,000 in connection with the exercise of 500,000 unlisted
options by a former consultant at an exercise price of A$0.40 per
share;
-- 375,000 in connection with the exercise of 375,000 unlisted
options by a former Executive at an exercise price of A$0.60 per
share; and
-- 100,000 in connection with the exercise of 100,000 unlisted
options by Mr Sean Duffy, the Company's Joint Company Secretary, at
an exercise price of A$0.40 per share
In each case, the options had been granted under the Company's
2018 share option scheme.
Application will be made for the new Ordinary Shares to be
admitted to the standard segment of the Official List of the UK
Financial Conduct Authority, and to trading on the main market of
the London Stock Exchange. Admission is expected on or around 7
February 2020.
Following the allotment of the abovementioned shares, the
Company now has a total of 179,540,987 fully paid Ordinary Shares
in issue.
The Company gives notice pursuant to section 708A(5)(e) of the
Corporations Act 2001 (Cth) (Corporations Act) that:
1. the Company issued the CDIs without disclosure under Part
6D.2 of the Corporations Act; and
2. as at the date of this notice, the Company has complied with:
(a) the provisions of Chapter 2M of the Corporations Act as they apply to the Company; and
(b) section 674 of the Corporations Act; and
3. as at the date of this notice, there is no information to be
disclosed which is excluded information (as defined in sections
708A(7) and 708A(8) of the Corporations Act) that is reasonable for
investors and their professional advisers to expect to find in a
disclosure document. 'Excluded Information' is information:
(a) that has been excluded from a continuous disclosure notice
in accordance with the ASX Listing Rules; and
(b) that investors and their professional advisers would
reasonably require for the purpose of making an informed assessment
of:
(i) the assets and liabilities, financial position and
performance, profits and losses and prospects of the Company;
or
(ii) the rights and liabilities attaching to the CDIs.
An appendix 2A relating to the exercise of the 975,000 options
is available from the Company's website:
https://www.adriaticmetals.com/investors/announcements/
** ENDS **
MARKET ABUSE REGULATION DISCLOSURE
The information contained The information contained within this
announcement is deemed by the Company (LEI: 549300OHAH2GL1DP0L61)
to constitute inside information as stipulated under the Market
Abuse Regulations (EU) No. 596/2014. The person responsible for
arranging the release of this announcement on behalf of the Company
is Paul Cronin, Managing Director and CEO.
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 31, 2020 03:24 ET (08:24 GMT)
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