Issue of Equity
11 February 2020
Adriatic Metals PLC
("Adriatic Metals" or the "Company")
ISSUE OF EQUITY AND TOTAL VOTING RIGHTS
Adriatic Metals plc (ASX: ADT/ LON: ADT1) ("Adriatic", or the "Company") advises that on 10 February 2020 it completed the issue and allotment of 100,000 new Ordinary Shares in the form of Chess Depository Interests in the capital of the Company in connection with the exercise of 100,000 unlisted options granted under the Company's 2018 share option scheme at an exercise price of A$0.40 per share.
Application will be made for the new Ordinary Shares to be admitted to the standard segment of the Official List of the UK Financial Conduct Authority, and to trading on the main market of the London Stock Exchange. Admission is expected on or around 17 February 2020.
Following the allotment of the abovementioned shares, the Company now has a total of 179,640,987 fully paid Ordinary Shares in issue.
An Appendix 2A statement has been issued to the Australian Securities Exchange (ASX) and is available on the Company's website:
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Market Abuse Regulation Disclosure
The information contained within this announcement is deemed by the Company (LEI: 549300OHAH2GL1DP0L61) to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. The person responsible for arranging the release of this announcement on behalf of the Company is Paul Cronin, Managing Director and CEO.
For further information please visit www.adriaticmetals.com, @AdriaticMetals on Twitter,
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.
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 [email protected] or visit www.rns.com.