Director/PDMR Shareholding

RNS Number : 4988J

Adriatic Metals PLC

22 December 2020

 

Adriatic Metals PLC 

("Adriatic Metals" or the "Company")

DIRECTOR/PDMR SHARE DEALING

Adriatic Metals PLC (ASX:ADT, LSE:ADT1) advises that it has completed the issue and allotment of 650,000 new Ordinary Shares in the form of Chess Depository Interests (CDIs) in the capital of the Company as follows:

· 250,000 CDIs issued to Mr Geoffrey Eyre, the Company's Chief Financial Officer and Joint Company Secretary;

· 250,000 CDIs issued to Phillip Fox, the Company's Chief Geologist; and

· 150,000 CDIs issued to non-PDMR staff and/or consultants

The CDIs have been issued in connection with the exercise of 650,000 unlisted Performance Rights granted under the Company's 2019 Employee Incentive Plan (Employees and Consultants).

Following the exercise of the abovementioned Performance Rights, Geoffrey Eyre and Phillip Fox who are Persons Discharging Managerial Responsibilities, hold the following interests in the Company:

Name	Position	Options and Performance Rights	Shareholding in Adriatic Metal PLCs	Shareholding as a percentage of Issued Share Capital
Geoffrey Eyre	Chief Financial Officer and Joint Company Secretary	250,000	250,000	0.12%
Phillip Fox	Chief Geologist	Nil	250,000	0.12%

A Cleansing Notice and Appendix 2A (Application for quotation of securities) has today been filed with the Australian Securities Exchange (ASX) and is available on the Company's website:

https://www.adriaticmetals.com/investors/asx-announcements/

** ENDS **

MARKET ABUSE REGULATION DISCLOSURE

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 and authorising 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
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]

The information below, set out in accordance with the requirements of the EU Market Abuse Regulation, provides further detail on the grant of options to PDMRs.

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

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Geoffrey Eyre
2	Reason for the notification
a)	Position/status	Chief Financial Officer
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 CHESS Depositary Interests (ordinary shares) ISIN: AU0000004772
b)	Nature of the transaction	Exercise of Performance Rights
c)	Price(s) and volume(s)	Price(s) Volume(s) GBP 0.013355 250,000
d)	Aggregated information - Aggregated volume -  Price	250,000 GBP 3,338.75
e)	Date of the transaction	22 December 2020
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Phillip Fox
2	Reason for the notification
a)	Position/status	Chief Geologist
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 CHESS Depositary Interests (ordinary shares) ISIN: AU0000004772
b)	Nature of the transaction	Exercise of Performance Rights
c)	Price(s) and volume(s)	Price(s) Volume(s) GBP 0.013355 250,000
d)	Aggregated information - Aggregated volume -  Price	250,000 GBP 3,338.75
e)	Date of the transaction	22 December 2020
f)	Place of the transaction	Outside a trading venue

ABOUT ADRIATIC METALS

Adriatic Metals Plc (ASX:ADT, LSE:ADT1) is a precious and base metals explorer and developer that owns the world-class Vares Silver Project in Bosnia & Herzegovina and holds licences across the Raska District in Serbia.

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 pre-feasibility study announced on 15 October 2020 indicate a post-tax NPV₈ of US$1,040 million and IRR of 113%. Leveraging its first-mover advantage, Adriatic is rapidly advancing the project into the development phase and through to production with significant cornerstone investment of US$28 million from Queen's Road Capital Investment and European Bank for Reconstruction and Development .

There have been no material changes to the assumptions underpinning the forecast financial information derived from the production target in the 15 October 2020 announcement and these assumptions continue to apply. There have been no material changes to the assumptions and technical parameters on the updated Mineral Resource Estimate announced on 1 September 2020 and these assumptions continue to apply.

Adriatic Metals acquired TSX-listed Tethyan Resource Corp in 2020, to advance the former Kizevak and Sastavci polymetallic mines in the Raska District, southern Serbia.

 

END

 

 

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