Directors Fees and Employee Incentive Payments

Asiamet Resources Limited

13 July 2023

 

13 July 2023                                           

2022 Directors Fees and Employee Incentive Payments

Asiamet Resources Limited ("ARS" or the "Company") notes that pursuant to their letters of engagement, each of the Non-Executive Directors ("Directors") of the Company and the Chairman are eligible to receive director's fees. The Chairman and Directors have elected to receive these fees in the form of shares in the Company for the period 1 January 2022 to 31 December 2022 in lieu of cash.

The share price to be used for the calculation is a 10-day VWAP over the 10 trading days immediately following publication of the Company's Annual Accounts as released on 27 April 2023, or if the Company is in a close period at that time, for the 10 trading days immediately following the end of that close period. The share price used based on the above formula was 1.08 pence per share following the release of the Company's Annual Accounts.

The award of shares in the Company to directors for director's fees for the 2022 year is set out below.

Tony Manini               2,564,630 shares

Dominic Heaton        2,564,630 shares

Faldi Ismail                 2,564,630 shares

Peter Pollard               2,564,630 shares

Bruce Sheng               2,564,630 shares

Eva Armila                  2,564,630 shares

In addition to the abovementioned share issue, a further 20,738,204 performance rights in the form of shares in the Company will be awarded to certain employees, in lieu of cash, for their contribution to the Company during 2022 and as a long-term incentive. This includes an amount of 3,500,512 shares allocated to Tony Manini for his role as Executive Chairman, an amount of 6,775,484 shares allocated to Darryn McClelland for his services as Chief Executive Officer for the period. 

Following the issue of the above shares, the shareholdings of the directors (including direct and indirect holdings) will be as follows:

Director	Holding of Common Shares	Percentage of Share Capital Following Admission
Tony Manini	57,899,138	2.60%
Peter Pollard	7,933,400	0.36%
Faldi Ismail	20,677,021	0.93%
Dominic Heaton	12,874,330	0.58%
Bruce Sheng	125,713,633	5.65%
Eva Armila	3,918,043	0.18%

Application has been made for the 36,125,985 shares ("New Common Shares") to be admitted to trading on AIM ("Admission"). It is expected that Admission to AIM will become effective and dealings in the New Common Shares will commence on or around 20 July 2023. The New Common Shares will rank pari passu in all respects with the existing common shares in the Company.

The total number of common shares outstanding after completion of the issue of the New Common Shares will increase from 2,187,064,944 to 2,223,190,929 shares. This represents the total number of voting rights in the Company and may be used by shareholders as the denominator for the calculations by which they can determine if they are required to notify their interest in, or a change to their interest in the Company under the Financial Conduct Authority's Disclosure and Transparency Rules.

ON BEHALF OF THE BOARD OF DIRECTORS

Darryn McClelland, Chief Executive Officer

For further information, please contact:

-Ends-

Darryn McClelland
Chief Executive Officer, Asiamet Resources Limited
Email: [e-mail]

Tony Manini
Executive Chairman, Asiamet Resources Limited
Email: [e-mail]

Investor Enquiries

Sasha Sethi

Telephone: [phone]

Email: [e-mail] / [e-mail]

Asiamet Resources Nominated Adviser
RFC Ambrian Limited

Andrew Thomson / Stephen Allen

Telephone: [phone]

Email: [e-mail] / [e-mail]

Optiva Securities Limited
Christian Dennis

Telephone: [phone]

Email: [e-mail]

Follow us on twitter @AsiametTweets

This announcement contains inside information as stipulated under the Market Abuse Regulations (EU) no. 596/2014 ("MAR").

FORWARD-LOOKING STATEMENT

This news release contains forward-looking statements that are based on the Company's current expectations and estimates. Forward-looking statements are frequently characterised by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "suggest", "indicate" and other similar words or statements that certain events or conditions "may" or "will" occur. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause actual events or results to differ materially from estimated or anticipated events or results implied or expressed in such forward-looking statements.   Such factors include, among others: the actual results of current exploration activities; conclusions of economic evaluations; changes in project parameters as plans continue to be refined; possible variations in ore grade or recovery rates; accidents, labour disputes and other risks of the mining industry; delays in obtaining governmental approvals or financing; and fluctuations in metal prices.  There may be other factors that cause actions, events or results not to be as anticipated, estimated or intended.  Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.

PDMR Notification Forms

The notifications below are made in accordance with the requirements of MAR.

1.	Details of the person discharging managerial responsibilities / person closely associated
a.	Name	Tony Manini
2.	Reason for the notification
a.	Position/status	Director & Executive Chairman
b.	Initial notification/Amendment	Initial Notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a.	Name	Asiamet Resources Limited
b.	LEI	213800PWJMT1NG28TA88
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	Common Shares of US$0.01 each BM04521V1038
b.	Nature of the transaction	Issuance of common shares
c.	Price(s) and volume(s)	Price(s) Volume(s) 1.08 p/share  6,065,142
d.	Aggregated information ·      Aggregated volume ·      Price	n/a single transaction
e.	Date of the transaction	20 July 2023
f.	Place of the transaction	London Stock Exchange

1.	Details of the person discharging managerial responsibilities / person closely associated
a.	Name	Dominic Heaton
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	Asiamet Resources Limited
b.	LEI	213800PWJMT1NG28TA88
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	Common Shares of US$0.01 each BM04521V1038
b.	Nature of the transaction	Issuance of common shares
c.	Price(s) and volume(s)	Price(s) Volume(s) 1.08 p/share  2,564,630
d.	Aggregated information ·      Aggregated volume ·      Price	n/a single transaction
e.	Date of the transaction	20 July 2023
f.	Place of the transaction	London Stock Exchange

1.	Details of the person discharging managerial responsibilities / person closely associated
a.	Name	Faldi Ismail
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	Asiamet Resources Limited
b.	LEI	213800PWJMT1NG28TA88
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	Common Shares of US$0.01 each BM04521V1038
b.	Nature of the transaction	Issuance of common shares
c.	Price(s) and volume(s)	Price(s) Volume(s) 1.08 p/share  2,564,630
d.	Aggregated information ·      Aggregated volume ·      Price	n/a single transaction
e.	Date of the transaction	20 July 2023
f.	Place of the transaction	London Stock Exchange

1.	Details of the person discharging managerial responsibilities / person closely associated
a.	Name	Peter Pollard
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	Asiamet Resources Limited
b.	LEI	213800PWJMT1NG28TA88
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	Common Shares of US$0.01 each BM04521V1038
b.	Nature of the transaction	Issuance of common shares
c.	Price(s) and volume(s)	Price(s) Volume(s) 1.08 p/share  2,564,630
d.	Aggregated information ·      Aggregated volume ·      Price	n/a single transaction
e.	Date of the transaction	20 July 2023
f.	Place of the transaction	London Stock Exchange

1.	Details of the person discharging managerial responsibilities / person closely associated
a.	Name	Bruce Sheng
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	Asiamet Resources Limited
b.	LEI	213800PWJMT1NG28TA88
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	Common Shares of US$0.01 each BM04521V1038
b.	Nature of the transaction	Issuance of common shares
c.	Price(s) and volume(s)	Price(s) Volume(s) 1.08 p/share  2,564,630
d.	Aggregated information ·      Aggregated volume ·      Price	n/a single transaction
e.	Date of the transaction	20 July 2023
f.	Place of the transaction	London Stock Exchange

1.	Details of the person discharging managerial responsibilities / person closely associated
a.	Name	Eva Armila
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	Asiamet Resources Limited
b.	LEI	213800PWJMT1NG28TA88
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	Common Shares of US$0.01 each BM04521V1038
b.	Nature of the transaction	Issuance of common shares
c.	Price(s) and volume(s)	Price(s) Volume(s) 1.08 p/share  2,564,630
d.	Aggregated information ·      Aggregated volume ·      Price	n/a single transaction
e.	Date of the transaction	20 July 2023
f.	Place of the transaction	London Stock Exchange

1.	Details of the person discharging managerial responsibilities / person closely associated
a.	Name	Darryn McClelland
2.	Reason for the notification
a.	Position/status	Chief Executive Officer
b.	Initial notification/Amendment	Initial Notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a.	Name	Asiamet Resources Limited
b.	LEI	213800PWJMT1NG28TA88
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	Common Shares of US$0.01 each BM04521V1038
b.	Nature of the transaction	Issuance of common shares
c.	Price(s) and volume(s)	Price(s) Volume(s) 1.08 p/share  6,775,484
d.	Aggregated information ·      Aggregated volume ·      Price	n/a single transaction
e.	Date of the transaction	20 July 2023

 

END