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| Date | 18 Oct 2021 |
| Time | 08:00:10 |
| Category | Corporate updates |
| ID | 2769P |
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ANNOUNCEMENT TO BE MADE BY THE AIM APPLICANT PRIOR TO ADMISSION IN ACCORDANCE WITH RULE 2 OF THE AIM RULES FOR COMPANIES ("AIM RULES") |
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COMPANY NAME: |
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Future Metals NL ("Future Metals" or the "Company") (ASX:FME) (formerly named Red Emperor Resources NL)
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COMPANY REGISTERED OFFICE ADDRESS AND IF DIFFERENT, COMPANY TRADING ADDRESS (INCLUDING POSTCODES): |
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Level 1 35 Richardson Street West Perth WA 6005 Australia
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COUNTRY OF INCORPORATION: |
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Australia
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COMPANY WEBSITE ADDRESS CONTAINING ALL INFORMATION REQUIRED BY AIM RULE 26: |
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COMPANY BUSINESS (INCLUDING MAIN COUNTRY OF OPERATION) OR, IN THE CASE OF AN INVESTING COMPANY, DETAILS OF ITS INVESTING POLICY). IF THE ADMISSION IS SOUGHT AS A RESULT OF A REVERSE TAKE-OVER UNDER RULE 14, THIS SHOULD BE STATED: |
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Future Metals is a platinum group metals ("PGM") exploration and development company that holds a 100 per cent. interest in the Panton PGM Project in Western Australia (the "Panton Project").
The Panton Project comprises three granted mining leases (M80/103, M80/104 and M80/105), which cover an area of approximately 23km2 and are located 60km north of Halls Creek and 1km from the Great Northern Highway, in the East Kimberly region of Western Australia. The Panton Project has a JORC (2012) Mineral Resource Estimate of 14.3Mt at 2.19g/t platinum, 2.39g/t palladium, 0.31g/t gold, 0.27 per cent. nickel and 0.08 per cent. copper.
The Company intends to use its pre-existing cash reserves to, inter alia, implement its exploration and development plan for the Panton Project comprising further drilling, metallurgical test work, process design and mining, development and other technical studies.
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DETAILS OF SECURITIES TO BE ADMITTED INCLUDING ANY RESTRICTIONS AS TO TRANSFER OF THE SECURITIES (i.e. where known, number and type of shares, nominal value and issue price to which it seeks admission and the number and type to be held as treasury shares): |
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348,541,184 common shares of no par value in the capital of the Company ("Common Shares").
No Common Shares are held in treasury.
The Common Shares (via Depositary Interests through CREST) will be freely transferable on AIM.
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CAPITAL TO BE RAISED ON ADMISSION (AND/OR SECONDARY OFFERING) AND ANTICIPATED MARKET CAPITALISATION ON ADMISSION: |
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No capital to be raised on Admission.
Market capitalisation on Admission: market capitalisation on the Australian Securities Exchange ("ASX") was approximately A$62.7million (c. £33.8 million), as at market-close on 15 October 2021.
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PERCENTAGE OF AIM SECURITIES NOT IN PUBLIC HANDS AT ADMISSION: |
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14.5% |
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DETAILS OF ANY OTHER EXCHANGE OR TRADING PLATFORM TO WHICH THE AIM SECURITIES (OR OTHER SECURITIES OF THE COMPANY) ARE OR WILL BE ADMITTED OR TRADED: |
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The Company's Common Shares are listed on the ASX under the trading symbol "FME" and will continue to be listed and traded on the ASX following Admission.
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FULL NAMES AND FUNCTIONS OF DIRECTORS AND PROPOSED DIRECTORS (underlining the first name by which each is known or including any other name by which each is known): |
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Gregory (Greg) John Bandy, Executive Chairman Aaron Dean Bertolatti, Finance Director Allan Ewald Mulligan, Non-Executive Technical Director Justin Albert Tremain, Non-Executive Director Robert (Rob) Walter Mosig, Independent Non-Executive Director Elizabeth (Liz) Caroline Henson, Independent Non-Executive Director (to be appointed on Admission)
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FULL NAMES AND HOLDINGS OF SIGNIFICANT SHAREHOLDERS EXPRESSED AS A PERCENTAGE OF THE ISSUED SHARE CAPITAL, BEFORE AND AFTER ADMISSION (underlining the first name by which each is known or including any other name by which each is known): |
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NAMES OF ALL PERSONS TO BE DISCLOSED IN ACCORDANCE WITH SCHEDULE 2, PARAGRAPH (H) OF THE AIM RULES: |
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N/A
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(i) ANTICIPATED ACCOUNTING REFERENCE DATE (ii) DATE TO WHICH THE MAIN FINANCIAL INFORMATION IN THE ADMISSION DOCUMENT HAS BEEN PREPARED (this may be represented by unaudited interim financial information) (iii) DATES BY WHICH IT MUST PUBLISH ITS FIRST THREE REPORTS PURSUANT TO AIM RULES 18 AND 19: |
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(i) 30 June (ii) 30 June 2021 (audited annual results) (iii) 31 March 2022 (unaudited interim results for the 6 months ended 31 December 2021) 31 December 2022 (audited annual results for the year ended 30 June 2022) 31 March 2023 (unaudited interim results for the 6 months ended 31 December 2022)
As an existing ASX listed company, Future Metals also prepares quarterly activities reports.
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EXPECTED ADMISSION DATE: |
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21 October 2021
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NAME AND ADDRESS OF NOMINATED ADVISER: |
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Strand Hanson Limited 26 Mount Row London W1K 3SQ United Kingdom
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NAME AND ADDRESS OF BROKER: |
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W H Ireland Limited 24 Martin Lane London EC4R 0DR United Kingdom (with effect from Admission)
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OTHER THAN IN THE CASE OF A QUOTED APPLICANT, DETAILS OF WHERE (POSTAL OR INTERNET ADDRESS) THE ADMISSION DOCUMENT WILL BE AVAILABLE FROM, WITH A STATEMENT THAT THIS WILL CONTAIN FULL DETAILS ABOUT THE APPLICANT AND THE ADMISSION OF ITS SECURITIES: |
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The Admission Document, which will contain full details about the applicant and the admission of its securities, will be available on the Company's website at https://future-metals.com.au/ from the date of the Company's Admission.
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THE CORPORATE GOVERNANCE CODE THE APPLICANT HAS DECIDED TO APPLY |
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The Corporate Governance Principles and Recommendations (4th Edition) published by the ASX Corporate Governance Council.
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DATE OF NOTIFICATION: |
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18 October 2021
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NEW/ UPDATE: |
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Update
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