Issue of Performance Rights

RNS Number : 8854P

Adriatic Metals PLC

15 June 2020

 

Adriatic Metals PLC 

('Adriatic Metals' or the 'Company')

ISSUE OF PERFORMANCE RIGHTS

Adriatic Metals PLC (ASX:ADT, LON:ADT1) ("Adriatic" or "the Company"), announces that, it has granted and issued 500,000 unlisted performance rights ("PRs") in the Company to Geoffrey Eyre, the Company's Chief Financial Officer and Joint Company Secretary.

The PRs have been granted under the Company's Employees' and Consultants' Incentive Plan.

The PRs vest and become exercisable as to 50% on 7 January 2021 and 50% on 7 January 2022 subject to the achievement of certain performance conditions.

Following the grant of the abovementioned Performance Rights, the Company's capital structure is as follows:

	No.
Unrestricted ordinary shares in issue	179,840,987
Unlisted Options	19,600,000
Unlisted Performance Rights	3,810,000
Fully diluted share capital	203,250,987

The grant of Performance Rights to Geoffrey Eyre , who is a Person Discharging Managerial Responsibilities, was as follows:

Name	Position	New PRs Issued	Total Options and PRs Held	Current Shareholding in Adriatic	Current Shareholding as percentage of Current Issued Share Capital
Geoffrey Eyre	Chief Financial Officer and Joint Company Secretary	500,000	500,000	Nil	Nil %

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/

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 Adriatic (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 Adriatic 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 Edward Lee Gareth Tredway	Tel: [phone] Tel:  [phone] 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.

 

END

 

 

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