RESULTS OF GENERAL MEETING

RNS Number : 4097B
Adriatic Metals PLC
30 January 2020
 

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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