Source - LSE Regulatory
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 £0.013355 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 £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 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 NPV8, 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 95km2 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.

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
MSCFLFSDRIIFFIL
Find out how to deal online from £1.50 in a SIPP, ISA or Dealing account. AJBell logo

Related Charts

Adriatic Metals PLC (ADT1)

+2.20p (+1.13%)
delayed 13:10PM