Issue of Equity

RNS Number : 5317C

Adriatic Metals PLC

11 February 2020

 

11 February 2020

Adriatic Metals PLC 

("Adriatic Metals" or the "Company")

 ISSUE OF EQUITY AND TOTAL VOTING RIGHTS

Adriatic Metals plc (ASX: ADT/ LON: ADT1) ("Adriatic", or the "Company") advises that on 10 February 2020 it completed the issue and allotment of 100,000 new Ordinary Shares in the form of Chess Depository Interests in the capital of the Company in connection with the exercise of 100,000 unlisted options granted under the Company's 2018 share option scheme at an exercise price of A$0.40 per share.

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 17 February 2020.

Following the allotment of the abovementioned shares, the Company now has a total ‎of 179,640,987 fully paid Ordinary Shares in issue.

An Appendix 2A statement has been issued to 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 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: [phone]
Paul Cronin / Emma Chetwynd Stapylton
Blytheweigh (IR/PR Contact)	Tel: [phone]
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 NPV₈ 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.

 

END

 

 

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