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LONDON - Adriatic Metals PLC (ASX:ADT, LSE:ADT1, OTCQX:ADMLF) has announced the allotment of new shares and the grant of performance rights as part of its incentive plans. On Monday, the company disclosed the issuance of 55,589 new ordinary shares at £0.013355 each due to the exercise of performance rights, with a total value of £742.39. These shares are expected to be admitted to the Equity Shares (Transition) Category of the Financial Conduct Authority (FCA) Official List and to trading on the London Stock Exchange (LON:LSEG)’s Main Market.
Additionally, 50,000 shares have been allocated to a consultant in lieu of performance rights for services provided, with the same issue price and a total consideration of £667.75. Admission of these shares to the FCA’s Official List and the London Stock Exchange is anticipated around March 4, 2025.
The company has also granted 100,000 unlisted performance rights, which are set to vest on December 31, 2025, under its Employment Incentive Plans. These rights are contingent upon meeting specific performance-related conditions and would entitle holders to an equivalent number of new ordinary shares upon vesting.
As of the date of this announcement, Adriatic Metals’ issued share capital consists of 324,582,472 ordinary shares. Following the allotment of an additional 11,092,377 shares under Tranche 1 of the Placement announced on February 18, 2025, the total issued share capital will increase to 335,674,849 ordinary shares on February 25, 2025. Shareholders can use this figure as the denominator for determining their notification requirements under the FCA’s Disclosure and Transparency Rules.
The company has confirmed that an Appendix 3G will be filed with the Australian Securities Exchange (ASX) to update its unquoted schedule, and this document will be available on the company’s website.
This announcement, containing inside information as per the EU Market Abuse Regulation, was authorized for release by Laura Tyler, Managing Director and CEO of Adriatic Metals.
The information reported is based on a press release statement from Adriatic Metals PLC.
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