TIDMEMH
RNS Number : 4243Q
European Metals Holdings Limited
06 June 2018
For immediate release
6 June 2018
EUROPEAN METALS HOLDINGS LIMITED
EQUITY ISSUE
European Metals Holdings Limited ("European Metals" or the
"Company") (ASX and AIM: EMH), announces that it has today issued
to employees 1,500,000 new ordinary shares (represented by Chess
Depositary interests or "CDIs") in the Company at a price of
AU$0.4848 per CDI under the Employee Securities Incentive Plan
("Plan"), representing in aggregate approximately 1.1 per cent. of
the issued share capital. As previously announced, he Plan was
approved by Shareholders at the Annual General Meeting held on 30
November 2017.
The Company has under the Plan awarded in aggregate 1,000,000
CDIs to Mr Neil Meadows, the Chief Operating Officer, on the
conditions ("Tranche Conditions") set out below:
Tranche No of Vesting Conditions
CDIs
-------- -------- -------------------------------------------------------
1 250,000 Escrowed until February 2019
2 250,000 Company announcing completion of the Definitive
Feasibility Study
3 250,000 Company announcing that construction has commenced
at the Cinovec Project
4 250,000 Company announcing practical completion of the Cinovec
Project
The Company has under the Plan also awarded in aggregate 400,000
CDIs to Mr James Carter, the Chief Finance Officer, on the Tranche
Conditions set out below:
Tranche No of Vesting Conditions
CDIs
-------- -------- ------------------------------------------------------
1 200,000 Escrowed 26 February 2019
2 200,000 Completion of project finance for the Cinovec Project
The Company has also under the Plan awarded in aggregate a total
of 100,000 CDIs, escrowed until 26 February 2019, to other
employees of the Company, under the following objectives of the
Plan:
(a) Attract and retain quality employees and directors for the
benefit of the Company;
(b) Align the interests of employees, directors and the
Company;
(c) Provide an incentive and reward for employees and directors
for their contribution to the Company; and
(d) Establish a method by which employees and directors can
participate in the future growth and profitability of the Company
by providing employees and directors with the opportunity to share
in the success of the Company by acquiring an ownership interest
therein.
Under the Plan, the Plan CDIs have been issued at an issue price
of AU$0.4848 per new CDI (equivalent to 26p per new CDI), being the
volume weighted average price of Shares traded on the ASX over the
5 trading days immediately preceding the agreement to issue the
CDIs on 26 February 2018.
The subscription amount due to the Company in respect of the new
Plan CDIs will be accounted for by a limited-recourse interest-free
loan provided by the Company to the Plan. There is therefore no
cash impact on the Company. As and when the Plan CDIs are sold,
then the proceeds from any such sale must be applied first to
settle the loan (and thereby the equivalent subscription amount).
The balance, if any, is retained by each individual. The proceeds
from a sale the Plan CDIs, even if less than their respective
loans, will settle their loans in full under the Plan.
Under the terms of the Plan, the Plan CDIs will be subject to an
ASX holding lock until the loan is repaid in full and cannot be
otherwise be transferred until various voluntary escrow periods
have expired and the Tranche Conditions are completed as listed
above.
Application is being made for the new ordinary shares
represented by the Subscription Shares and the Plan CDIs, in
aggregate amounting to 1,500,000 ordinary shares, to be admitted to
trading on AIM, with admission expected to take place on or around
12 June 2018. The new ordinary shares will rank pari passu in all
respects with the existing ordinary shares in EMH.
Total Voting Rights
Following the issue of the new ordinary shares, the total number
of ordinary shares in issue with voting rights is 141,464,727. This
figure may be used by shareholders in the Company as the
denominator for the calculation by which they will determine if
they are required to notify their interest in, or a change of
interest in, the share capital of the Company under the Financial
Conduct Authority's Disclosure Guidance and Transparency Rules.
ENQUIRIES:
European Metals Holdings Tel: +61 (0) 419 996
Limited 333
Keith Coughlan, Chief Email: keith@europeanmet.com
Executive Officer Tel: +44 (0) 20 7440
Kiran Morzaria, Non-Executive 0647
Director Tel: +61 (0) 8 6245 2050
Julia Beckett, Company Email: julia@europeanmet.com
Secretary
Beaumont Cornish (Nomad Tel: +44 (0) 20 7628
& Broker) 3396
Michael Cornish Email: corpfin@b-cornish.co.uk
Roland Cornish
Shard Capital Stockbrokers Tel: +44 (0) 20 7186
(Joint Broker) 9950
Damon Health
Erik Woolgar
The information contained within this announcement is considered
to be inside information, for the purposes of Article 7 of EU
Regulation 596/2014, prior to its release.
The notification below, made in accordance with the requirements
of the EU Market Abuse Regulations, provides further detail in
respect of the transaction as described above.
1 Details of the person discharging managerial
responsibilities / person closely associated
--- --------------------------------------------------------------
a) Name Neil Meadows
--- ------------------------ ------------------------------------
2 Reason for notification
--- --------------------------------------------------------------
a) Position / status Chief Operating Officer
--- ------------------------ ------------------------------------
b) Initial notification Initial
/Amendment
--- ------------------------ ------------------------------------
3 Details of the issuer, emission allowance
market participant, auction platform, auctioneer
or auction monitor
--- --------------------------------------------------------------
a) Name European Metals Holdings
Limited
--- ------------------------ ------------------------------------
b) LEI 213800NZKFBQAMMLXC39
--- ------------------------ ------------------------------------
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 Ordinary shares (represented
the financial by Chess Depositary interests)
instrument, type of no par value in European
of instrument Metals Holdings Limited
Identification VGG3191T1021
code
--- ------------------------ ------------------------------------
Nature of the Issue of 1,000,000 ordinary
transaction shares pursuant to the Company's
Employee Share Securities
Plan at an issue price of
AUD0.4848 per ordinary share
--- ------------------------ ------------------------------------
Price(s) and Price(s) Volumes(s)
volumes(s) -------------------- -----------
(i) AUD0.4848 1,000,000
-------------------- -----------
--- ------------------------ ------------------------------------
d) Aggregated information n/a
--- ------------------------ ------------------------------------
e) Date of the transaction 6 June 2018
--- ------------------------ ------------------------------------
f) Place of the Off market
transaction
--- ------------------------ ------------------------------------
1 Details of the person discharging managerial
responsibilities / person closely associated
--- --------------------------------------------------------------
a) Name James Carter
--- ------------------------ ------------------------------------
2 Reason for notification
--- --------------------------------------------------------------
a) Position / status Chief Financial Officer
--- ------------------------ ------------------------------------
b) Initial notification Initial
/Amendment
--- ------------------------ ------------------------------------
3 Details of the issuer, emission allowance
market participant, auction platform, auctioneer
or auction monitor
--- --------------------------------------------------------------
a) Name European Metals Holdings
Limited
--- ------------------------ ------------------------------------
b) LEI 213800NZKFBQAMMLXC39
--- ------------------------ ------------------------------------
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 Ordinary shares (represented
the financial by Chess Depositary interests)
instrument, type of no par value in European
of instrument Metals Holdings Limited
Identification VGG3191T1021
code
--- ------------------------ ------------------------------------
Nature of the Issue of 400,000 ordinary
transaction shares pursuant to the Company's
Employee Share Securities
Plan at an issue price of
AUD0.4848 per ordinary share
--- ------------------------ ------------------------------------
Price(s) and Price(s) Volumes(s)
volumes(s) -------------------- -----------
(i) AUD0.4848 400,000
-------------------- -----------
--- ------------------------ ------------------------------------
d) Aggregated information n/a
--- ------------------------ ------------------------------------
e) Date of the transaction 6 June 2018
--- ------------------------ ------------------------------------
f) Place of the Off market
transaction
--- ------------------------ ------------------------------------
1 Details of the person discharging managerial
responsibilities / person closely associated
--- --------------------------------------------------------------
a) Name Julia Beckett
--- ------------------------ ------------------------------------
2 Reason for notification
--- --------------------------------------------------------------
a) Position / status Company Secretary
--- ------------------------ ------------------------------------
b) Initial notification Initial
/Amendment
--- ------------------------ ------------------------------------
3 Details of the issuer, emission allowance
market participant, auction platform, auctioneer
or auction monitor
--- --------------------------------------------------------------
a) Name European Metals Holdings
Limited
--- ------------------------ ------------------------------------
b) LEI 213800NZKFBQAMMLXC39
--- ------------------------ ------------------------------------
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 Ordinary shares (represented
the financial by Chess Depositary interests)of
instrument, type no par value in European
of instrument Metals Holdings Limited
Identification VGG3191T1021
code
--- ------------------------ ------------------------------------
Nature of the Issue of 50,000 ordinary
transaction shares pursuant to the Company's
Employee Share Securities
Plan at an issue price of
AUD0.4848 per ordinary share
--- ------------------------ ------------------------------------
Price(s) and Price(s) Volumes(s)
volumes(s) -------------------- -----------
(i) AUD0.4848 50,000
-------------------- -----------
--- ------------------------ ------------------------------------
d) Aggregated information n/a
--- ------------------------ ------------------------------------
e) Date of the transaction 6 June 2018
--- ------------------------ ------------------------------------
f) Place of the Off market
transaction
--- ------------------------ ------------------------------------
ENDS
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END
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