Application for Listing of Shares

RNS Number : 6562Q

Adriatic Metals PLC

01 March 2021

 

Adriatic Metals PLC 

('Adriatic Metals' or the 'Company')

APPLICATION FOR LISTING OF SHARES

Adriatic Metals PLC (ASX:ADT, LSE:ADT1) confirms that application will be made to the Financial Conduct Authority and the London Stock Exchange for a total of 5,237,358 Ordinary shares of £0.013355 each ("Shares") to be admitted to the standard segment of the Official List and to trading on the Main Market of the London Stock Exchange ("Admission").

The Shares were issued and allotted by the Company as follows:

Allotment Date	Announcement Date	Number of shares issued	Issue Price per share	Reason for allotment
24 December 2020	24 December 2020	4,830,156	£1.01	Settlement Placement as previously announced on 3 November 2020 under the terms of the Deed of Settlement and Release between the Company and Sandfire Resources Limited.
29 January 2021	29 January 2021	115,777	£0.17	Shares issued as Chess Depository Interests pursuant to the strategic alliance agreement between the Company and Sandfire Resources Limited.
29 January 2021	29 January 2021	125,425	£1.26	Shares issued as Chess Depository Interests pursuant to the strategic alliance agreement between the Company and Sandfire Resources Limited.
22 February 2021	23 February 2021	166,000	£1.27	RAS Metals d.o.o. acquisition
		5,237,358

The Shares rank pari passu with the existing Ordinary shares. Admission of the Shares is expected take place on 2 March 2021.

The Company confirms that as at the date of this announcement, the Company's issued share capital comprises 207,983,877 ordinary shares of £0.013355 each, with each share carrying the right to one vote. The Company does not hold any ordinary shares in treasury.

The above figure of 207,983,877 may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or of a change to their interest in the Company under the FCA's Disclosure and Transparency Rules.

** ENDS **

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]

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 EBRD.

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.

 

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