RESULTS OF GENERAL MEETING
Updated : 07:34
30 January 2020
RESULTS OF GENERAL MEETING
A General Meeting of Adriatic Metals PLC (ASX:ADT, LON:ADT1) ("Adriatic" or "the Company") was held on 30 January 2020 at the offices of DLA Piper, Level 31, Central Park, 152-158 St George's Terrace, Perth, Australia at 11:00 local time. Each of the Ordinary Resolutions contained in the Notice of Meeting was put to the meeting, voted on by way of a poll, and duly approved.
The total number of votes received on each resolution put to the meeting was as follows:
Resolution number | Resolution | Votes FOR (A) | Votes AGAINST | Votes Abstain | Votes Excluded |
1 | Approve and ratify the issue of 1,000,000 unlisted Options to Ms Sandra Bates
| 54,539,701 | 508,008 | 28,452,102 | - |
2 | Approve and ratify the issue of 1,000,000 unlisted Options to Mr John Richards
| 44,741,845 | 10,305,864 | 28,452,102 | - |
3 | Approve the issue of 4,000,000 unlisted Performance Rights to Mr Milos Bosnjakovic
| 50,865,579 | 4,182,130 | 28,452,102 | - |
4 | Approve and ratify the prior issue of 15,878,508 New CIDs (CHESS Depositary Interests) to institutional investors
| 49,375,809 | 27,500 | 28,452,102 | 5,659,400 |
5 | Approve and ratify the prior issue of 9,121,492 New CIDs (CHESS Depositary Interests) to institutional investors
| 49,375,809 | 27,500 | 28,452,102 | 5,659,400 |
Notes:
(a) The "For" vote includes proxy votes giving the Chairman discretion.
** ENDS **
For further information please visit www.adriaticmetals.com, @AdriaticMetals on Twitter, or contact:
Adriatic Metals PLC | Tel: +44 (0)20 7993 0066 |
Paul Cronin / Emma Chetwynd Stapylton | |
Blytheweigh (IR/PR Contact) | Tel: +44 (0)20 7138 3204 |
Camilla Horsfall / Megan Ray | |
ABOUT ADRIATIC METALS
Adriatic Metals PLC (ASX:ADT, LON:ADT1) ("Adriatic" or the "Company") is a dual listed (ASX and LSE) precious and base metals explorer and developer via its 100% interest in the world class Vares Project (the "Project") in Bosnia & Herzegovina. The Project comprises a historic open cut mine at Veovaca and brownfield exploration at Rupice, an advanced proximal deposit which exhibits exceptionally high grades of base and precious metals.
The Company announced the results of a Scoping Study on 19 November 2019 which indicated an NPV8 of US$917 million and IRR of 107%, following the release of a Maiden Resource Estimate earlier the year on 23 July 2019. There have been no material adverse changes in the assumptions underpinning the forecast financial information or material assumptions and technical parameters underpinning the Maiden Resource Estimate since the original relevant market announcements which continue to apply.
Adriatic has attracted a world class team to both expedite its exploration efforts to expand the current JORC resource at the high-grade Rupice deposit and to rapidly advance the Project into the development phase utilising its first mover advantage and strategic position in Bosnia.
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