DIRECTOR/PDMR SHARE DEALING

Adriatic Metals PLC

28 April 2023

 

28 April 2023

 Adriatic Metals PLC 

("Adriatic Metals" or the "Company")

DIRECTOR/PDMR SHARE DEALING

NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSON DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Michael Rawlinson
2	Reason for the notification
a)	Position/status	Chairman
b)	Initial notification/ Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Adriatic Metals PLC
b)	LEI	549300OHAH2GL1DP0L61
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 instrument, type of instrument Identification code	Adriatic Metals plc ordinary shares (Shares) ISIN: GB00BL0L5G04
b)	Nature of the transaction	Transfer of 57,995 Shares held by Michael Rawlinson to a SIPP held in his name.
c)	Price(s) and volume(s)	Price(s) Volume(s) a.    Sale by Michael Rawlinson at £1.95 per Share 57,995 b.   Purchase by SIPP at £1.95 per Share 57,995
d)	Aggregated information -   Aggregated volume -      Price	a.    57,995 £113,119.25 b.   57,995 £113,119.25
e)	Date of the transaction	25 April 2023
f)	Place of the transaction	Outside a trading venue

The person ‎responsible for arranging and authorising the release of this announcement on behalf of Adriatic is Paul Cronin, Managing Director and CEO.

**ends**

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

Adriatic Metals PLC
Paul Cronin / Klara Kaczmarek	Via Buchanan
Buchanan	Tel: [phone]
Bobby Morse/ Oonagh Reidy	[e-mail]
Canaccord Genuity Limited (Joint Corporate Broker)
Jeremy Dunlop (Australia)	Tel: [phone]
James Asensio (UK)	Tel: [phone]
RBC Capital Markets (Joint Corporate Broker)
James Agnew / Jamil Miah	Tel: [phone]
Stifel Nicolaus Europe Limited (Joint Corporate Broker)
Ashton Clanfield / Callum Stewart	Tel: [phone]
Citadel Magnus
Cameron Gilenko	Tel: [phone]

ABOUT ADRIATIC METALS

Adriatic Metals PLC (ASX:ADT, LSE:ADT1, OTCQX:ADMLF) is a precious and base metals developer that is advancing the world-class Vares Project in Bosnia & Herzegovina, as well as the Raska Project in Serbia.

The Vares Project is fully-funded to production, which is expected in Q4 2023. The 2021 Project Definitive Feasibility Study boasts robust economics of US$1,062 million post-tax NPV₈, 134% IRR and a capex of US$168 million. Concurrent with ongoing construction activities, the Company continues to explore across its highly prospective 42km² concession package.

There have been no material changes to the assumptions underpinning the forecast financial information derived from the production target in the 19 August 2021 DFS announcement and these assumptions continue to apply and have not materially changed. Adriatic Metals is not aware of any new information or data that materially affects the information included in the announcement of the updated Mineral Resource Estimate announced on 1 September 2020 and all material assumptions and technical parameters underpinning the Mineral Resource Estimate continue to apply and have not materially changed.

 

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