Grant of Director Performance Rights

Future Metals NL

22 November 2023

 

22 November 2023

Future Metals NL

Grant of Director Performance Rights

Further to the approval of Resolution 7 at its recent Annual General Meeting ("AGM"), Future Metals NL ("Future Metals" or the "Company", ASX | AIM: FME) announces that on 21 November 2023 it issued 20,000,000 Performance Rights to Mr Patrick Walta, Executive Chair of the Company, on the terms and conditions set out in the Explanatory Statement accompanying the Notice of AGM.

Under the Company's Performance Rights Plan, the 20,000,000 Performance Rights are exercisable for nil consideration up to and including 21 November 2026 and are subject to the vesting criteria outlined in the table below:

Performance Criteria	No. of Performance Rights
Volume weighted average share price over 5-days ("5-day VWAP") of Future Metals' shares trading on the ASX exceeds 10 cents	5,000,000
5-day VWAP of Future Metals' shares trading on the ASX exceeds 20 cents	5,000,000
12 months of continuous employment from the date of 20 November 2023	2,500,000
24 months of continuous employment from the date of 20 November 2023	2,500,000
Obtaining >20% institutional ownership of Future Metals shares; or a strategic partner for Panton (at asset or Company level); or a >10% individual cornerstone shareholder in the Company	2,500,000
Completion of a Scoping Study that supports a Board decision to proceed with a pre-feasibility study or definitive feasibility study	2,500,000
Total	20,000,000

Further details are provided in the below PDMR Notification Form, announced in accordance with Article 19 of the Market Abuse Regulation (EU) 596/2014 as it forms part of United Kingdom domestic law by virtue of the European Union (Withdrawal) Act 2018, as amended.

This announcement has been approved for release by the Board of Future Metals NL.

Further Information

For further information please refer to the ASX platform under ASX code FME or visit the Company's website at www.future-metals.com.au.

Future Metals NL	[phone]
Jardee Kininmonth	[e-mail]
Strand Hanson Limited (Nominated Adviser)	[phone]
James Harris/James Bellman
Panmure Gordon (UK) Limited (UK Broker) John Prior/Hugh Rich/Rauf Munir	[phone]
FlowComms (UK IR/PR)	[phone]
Sasha Sethi

PDMR Notification Form:

The notification below is made in accordance with the requirements of MAR.

1.	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Patrick Walta
2.	Reason for the Notification
a)	Position/status	Executive Chair
b)	Initial notification/amendment	Initial notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Future Metals NL
b)	LEI	213800WZ1MNQPOAKNU50
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	Performance Rights over ordinary shares of no par value in the capital of the Company
	Identification code	AU0000157745
b)	Nature of the Transaction	Grant of Performance Rights over ordinary shares of no par value in the capital of the Company
c)	Price(s) and volume(s)	Price(s) Volume(s) Nil 20,000,000
d)	Aggregated information Aggregated volume Price	N/A (Single transaction)
e)	Date of the transaction	21 November 2023
f)	Place of the transaction	Outside of a trading venue

 

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