Issue of Shares to Consultant

RNS Number : 2521T

Asiamet Resources Limited

13 November 2019

 

13 November 2019                                                                                                                   

Issue of Shares to Consultant

Asiamet Resources Limited ("ARS" or the "Company") notes that Whittle Consulting Pty Ltd (the "Consultant"), a consultant to the Company responsible for performing work in conjunction with the BKM Feasibility Study, has agreed with the Company to accept half its invoiced fees, being US$200,000 (£162,824), in common shares of the Company in settlement of such invoices.

The share price used for the calculation is a 5-day VWAP over the 5 trading days immediately following the end of the last close period, being completion of the financing announced on 20 August 2019. In this case the share price used based on the above formula was approximately 3.612 pence per share and accordingly the Consultant will receive 4,507,335 common shares (the "New Common Shares").

Application will be made for the 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 14 November 2019. 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 1,096,360,742 to 1,100,868,077. 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.

For further information, please contact:

-Ends-

Peter Bird
CEO, Asiamet Resources Limited
Telephone: [phone]
Email: [e-mail]

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

FlowComms Limited

Sasha Sethi

Telephone: [phone]

Email: [e-mail]

Asiamet Resources Nominated Adviser

RFC Ambrian Limited

Bhavesh Patel / Stephen Allen

Telephone: [phone]

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

Berenberg

Matthew Armitt, Detlir Elezi

Telephone: [phone]

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

Liberum

Clayton Bush, Kane Collings

Telephone: [phone]

Email: [e-mail]

Optiva Securities Limited

Christian Dennis

Telephone: [phone]

Email: [e-mail]

 

END

 

 

IOELIFFALVLVLIA