Application for Listing of Shares

RNS Number : 2407X

Adriatic Metals PLC

26 August 2020

 

Adriatic Metals PLC 

('Adriatic Metals' or the 'Company')

Application for Listing of Shares

Further to the announcement dated 25 August 2020 confirming that application has been made to the Financial Conduct Authority and the London Stock Exchange for a total of 1,200,000 Ordinary shares of 0.013355p each ("Shares") to be admitted to the standard segment of the Official List of the London Stock Exchange,  the Company confirms that the Shares were issued by the Company on 19 August as a result of the exercise of existing share options granted by the Company as follows:

· 1,000,000 share options, granted under the Company's 2018 share options scheme, at an exercise price A$0.40 per share.

· 200,000 share options, granted under the Company's 2019 share options scheme, at an exercise price of A$1.25 per share.

Such Shares rank pari passu with the existing Ordinary shares. Admission of the Shares is expected on 27 August 2020.

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

Adriatic Metals PLC
Paul Cronin / Emma Chetwynd Stapylton	Tel: [phone]
Tavistock Communications Limited
Charles Vivian	Tel: [phone]
Edward Lee	Tel:  [phone]
Gareth Tredway	Tel: [phone]
The Capital Network
Julia Maguire/Lelde Smits	Tel: [phone]

About Adriatic Metals

Adriatic Metals Plc (ASX:ADT, LON:ADT1) is a precious and base metals explorer and developer that owns the world-class advanced polymetallic Vares project in Bosnia & Herzegovina.

The Vares project consists of two high-grade polymetallic deposits, located at Rupice and Veovaca. Bosnia & Herzegovina is well-positioned in central Europe and boasts a strong mining history, pro-mining environment, highly-skilled workforce as well as extensive existing infrastructure and logistics.

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 scoping study indicate an NPV8 of US$917 million and IRR of 107%. Leveraging its first-mover advantage, Adriatic is rapidly advancing the project into the development phase and through to production.

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.

 

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