t
Adriatic Metals PLC announced that Managing Director & CEO Paul Cronin exercised 5,000,000 options at A$0.20 and transferred 3,000,000 shares for nil consideration between September 26 and 28, 2022. Chairman Michael Rawlinson exercised a total of 1,000,000 options at A$1.00, acquired 596,878 shares at A$2.01, and sold 224,918 shares at A$1.91 on September 26-27, 2022. Non-executive Director Sandra Bates also exercised 1,000,000 options at A$1.25, acquired 437,574 shares at A$2.01, and sold 437,574 shares at A$1.91 on the same dates.
| Date | 29 Sept 2022 |
| Time | 07:14:14 |
| Category | Director/PDMR dealings |
| ID | 1348B |
Adriatic Metals PLC
("Adriatic Metals" or the "Company")
(ASX:ADT, LSE:ADT1, OTCQX:ADMLF)
DIRECTOR/PDMR SHARE DEALING
NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM
|
1 |
Details of the person discharging managerial responsibilities/person closely associated |
|||||||
|
a) |
Name |
Paul Cronin |
||||||
|
2 |
Reason for the notification |
|||||||
|
a) |
Position/status |
Managing Director & CEO |
||||||
|
b) |
Initial notification/ Amendment |
Initial notification |
||||||
|
3 |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
|||||||
|
a) |
Name |
Adriatic Metals PLC |
||||||
|
b) |
LEI |
549300OHAH2GL1DP0L61 |
||||||
|
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 the financial instrument, type of instrument Identification code |
Adriatic Metals PLC CHESS Depositary Interests (ordinary shares)
ISIN: AU0000004772 |
||||||
|
b) |
Nature of the transaction |
a) Exercise of options
b) Transfer of shares to family members
|
||||||
|
c) |
Price(s) and volume(s) |
|
||||||
|
d) |
Aggregated information - Aggregated volume - Price |
a) 5,000,000 A$1,000,000 b)3,000,000 nil
|
||||||
|
e) |
Date of the transaction |
a) 26 September 2022 b) 28 September 2022 |
||||||
|
f) |
Place of the transaction |
Australian Securities Exchange |
||||||
|
1 |
Details of the person discharging managerial responsibilities/person closely associated |
|||||||||
|
a) |
Name |
Michael Rawlinson |
||||||||
|
2 |
Reason for the notification |
|||||||||
|
a) |
Position/status |
Chairman |
||||||||
|
b) |
Initial notification/ Amendment |
Initial notification |
||||||||
|
3 |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
|||||||||
|
a) |
Name |
Adriatic Metals PLC |
||||||||
|
b) |
LEI |
549300OHAH2GL1DP0L61 |
||||||||
|
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 the financial instrument, type of instrument Identification code |
Adriatic Metals PLC CHESS Depositary Interests (ordinary shares)
ISIN: AU0000004772 |
||||||||
|
b) |
Nature of the transaction |
a. Exercise of options b. Exercise of options (net settling) c. Shares acquired following exercise and net settlement of options d. Sale of Shares |
||||||||
|
c) |
Price(s) and volume(s) |
|
||||||||
|
d) |
Aggregated information - Aggregated volume - Price |
a) & b) 1,000,000 A$1,000,000 c) 597,878 A$1,199,724.78 d) 224,918 A$429,593.38 |
||||||||
|
e) |
Date of the transaction |
a) 26 September 2022 b) 26 September 2022 c) 26 September 2022 d) 27 September 2022 |
||||||||
|
f) |
Place of the transaction |
Australian Securities Exchange |
||||||||
|
1 |
Details of the person discharging managerial responsibilities/person closely associated |
|||||||
|
a) |
Name |
Sandra Bates |
||||||
|
2 |
Reason for the notification |
|||||||
|
a) |
Position/status |
Non-executive Director |
||||||
|
b) |
Initial notification/ Amendment |
Initial notification |
||||||
|
3 |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
|||||||
|
a) |
Name |
Adriatic Metals PLC |
||||||
|
b) |
LEI |
549300OHAH2GL1DP0L61 |
||||||
|
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 the financial instrument, type of instrument Identification code |
Adriatic Metals PLC CHESS Depositary Interests (ordinary shares)
ISIN: AU0000004772
|
||||||
|
b) |
Nature of the transaction |
a. Exercise of options (net settling) b. Shares acquired after net settlement of options c. Sale of Shares |
||||||
|
c) |
Price(s) and volume(s) |
|
||||||
|
d) |
Aggregated information - Aggregated volume - Price |
|
||||||
|
e) |
Date of the transaction |
a) 26 September 2022 b) 26 September 2022 c) 27 September 2022 |
||||||
|
f) |
Place of the transaction |
Australian Securities Exchange |
||||||
** ENDS **
Market Abuse Regulation Disclosure
The information contained within this announcement is deemed by Adriatic (LEI: 549300OHAH2GL1DP0L61) to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014.
The person responsible for arranging and authorising the release of this announcement on behalf of Adriatic is Paul Cronin, Managing Director and CEO.
For further information please visit www.adriaticmetals.com or @adriaticmetals visit on Twitter; or contact:
|
Adriatic Metals PLC |
|
|
Paul Cronin / Klara Kaczmarek |
Via Buchanan |
|
|
|
|
Buchanan |
Tel: +44 (0) 20 7466 5000 |
|
Bobby Morse/ Ariadna Peretz |
|
|
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) |
|
|
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 |
|
|
|
|
Citadel Magnus |
|
|
Cameron Gilenko |
Tel: +61 2 8234 0100 |
|
|
|
ABOUT ADRIATIC METALS
Adriatic Metals PLC (ASX:ADT, LSE:ADT1, OTCQX:ADMLF) is a precious and base metals developer that is advancing the world-class Vares Project in Bosnia & Herzegovina, as well as the Raska Project in Serbia.
The Vares Project is fully-funded to production, which is expected in Q2 2023. The 2021 Project Definitive Feasibility Study boasts robust economics of US$1,062 million post-tax NPV8, 134% IRR and a capex of US$168 million. Concurrent with ongoing construction activities, the Company continues to explore across its highly prospective 41km2 concession package.
There have been no material changes to the assumptions underpinning the forecast financial information derived from the production target in the 19 August 2021 DFS 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.