Issue of Performance Rights & Options

RNS Number : 6215F

Adriatic Metals PLC

18 November 2020

 

Adriatic Metals PLC 

('Adriatic Metals' or the 'Company')

ISSUE OF PERFORMANCE RIGHTS & OPTIONS

Adriatic Metals PLC (ASX:ADT, LON:ADT1) announces that it has granted and issued 825,000 unlisted performance rights ("PRs") under the Company's Employees and Consultants Incentive Plan.

Additionally, pursuant to the ordinary shareholder resolution passed at the Company's AGM on 6 November 2020, 1,000,000 unlisted Options have been granted and issued to Sanela Karic, a Non-executive Director, under the Company's Employees' and Consultants' Incentive Plan.

Following the grant of the abovementioned PRs and Options the Company's capital structure is as follows:

	No.
Unrestricted ordinary shares in issue	201,496,519
Unlisted Options	17,969,779
Unlisted Performance Rights	4,385,000
Unlisted Warrants	4,128,633
Fully diluted share capital	227,979,931

Appendix 3G has also been issued to the Australian Securities Exchange (ASX) and is available on the Company's website:   https://www.adriaticmetals.com/investors/asx-announcements/

Separately, the Company advises that the following presentation - Delivering A World Class Project has been released to the Australian Securities Exchange. A full PDF version of the announcement is available from the Company's website:  https://www.adriaticmetals.com/investors/asx-announcements/

For further information please contact:

Paul Cronin
Managing Director & CEO
[e-mail]

** 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	Sanela Karic
2	Reason for the notification
a)	Position/status	Non-Executive Director
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	Options over ordinary shares  ISIN for Adriatic Metals PLC ordinary shares: ISIN: GB00BL0L5G04
b)	Nature of the transaction	Grant of Options
c)	Price(s) and volume(s)	Price(s) Volume(s) AUD 2.20 1,000,000
d)	Aggregated information - Aggregated volume -  Price	1,000,000 AUD 2,200,000
e)	Date of the transaction	18 November 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

 

 

STRKKOBNQBDDFDD