Adriatic Metals PLC Allotment of Shares (7664C)
23 June 2021 - 4:00PM
UK Regulatory
TIDMADT1
RNS Number : 7664C
Adriatic Metals PLC
23 June 2021
Adriatic Metals PLC
('Adriatic Metals' or the 'Company')
ALLOTMENT OF SHARES
Adriatic Metals PLC (ASX:ADT, LSE:ADT1) confirms that is has
completed the allotment of 366,626 Ordinary shares of GBP0.013355
each ("Shares"), in the form of Chess Depository Interests, to
Sandfire Resources Limited ("Sandfire") pursuant to Sandfire's
anti-dilution right under the Collaboration and Strategic
Partnership Deed between the Company and Sandfire. The
consideration paid for the Shares was A$109,987.80 (A$0.30 per
share).
Application will be made to the Financial Conduct Authority and
the London Stock Exchange for the 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 rank pari passu with the existing Ordinary shares.
Admission of the Shares is expected to take place on or around 30
June 2021.
The Company confirms that as at the date of this announcement,
the Company's issued share capital comprises 212,912,535 ordinary
shares of GBP0.013355 each, with each share carrying the right to
one vote. The Company does not hold any ordinary shares in
treasury.
The above figure of 212,912,535 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.
A cleansing notice and Appendix 2A (Application for quotation of
securities) in relation to the allotment of the Shares has also
been filed with the Australian Securities Exchange (ASX) and is
available on the Company's website:
https://www.adriaticmetals.com/investors/asx-announcements/
** ENDS **
For further information please visit www.adriaticmetals.com ;
@AdriaticMetals on Twitter; or contact:
Adriatic Metals PLC
Paul Cronin / Thomas Horton Tel: +44 (0) 7866
913207
Canaccord Genuity Limited (Joint Corporate Broker)
Jeremy Dunlop (Australia) Tel: +61 2 9263 2700
James Asensio (UK) Tel: +44 (0) 207
523 8000
RBC Capital Markets (Joint Corporate Broker)
Marcus Jackson / Jamil Miah Tel: +44 (0) 20 7653
4000
Stifel Nicolaus Europe Limited (Joint Corporate
Broker)
Ashton Clanfield / Callum Stewart Tel: +44 (0) 20 7710
7600
Tavistock Communications Limited
Charles Vivian Tel: +44 (0) 7977
297 903
The Capital Network
Julia Maguire / Lelde Smits Tel: +61 2 8999 3699
ABOUT ADRIATIC METALS
Adriatic Metals Plc (ASX:ADT, LSE:ADT1) is a precious and base
metals developer that is advancing the world-class Vares Silver
Project in Bosnia & Herzegovina, as well as the Raska
Zinc-Silver Project in Serbia.
The Vares Project Pre-Feasibility Study boasts robust economics
of US$1,040 million post-tax NPV(8) , 113% IRR and a capex of
US$173 million. The Company is the only publicly listed mining
company exploring in Bosnia and is leveraging its first-mover
advantage. The Company is well-funded and concurrent with the
advancing Definitive Feasibility Study, continues exploring across
its large concession package.
Adriatic Metals Plc completed the acquisition TSX-listed Tethyan
Resource Corp. in Q4 2020, which contained the Raska Zinc-Silver
Project in southern Serbia. The Company is exploring across its
95km(2) highly prospective concession area, which includes around
the formerly operating Kizevak and Sastavci polymetallic mines.
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 and have not materially changed.
Adriatic Metals is not aware of any new information or data that
materially affects the information included in the announcement of
the updated Mineral Resource Estimate announced on 1 September 2020
and all material assumptions and technical parameters underpinning
the Mineral Resource Estimate continue to apply and have not
materially changed.
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END
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