Asiamet Resources Ld - US$3.1 million Subscription
17/12/2025 18:08
RNS Number : 0174M
Asiamet Resources Limited
17 December 2025
THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO, THE UNITED STATES (INCLUDING ITS TERRITORIES AND POSSESSIONS, ANY STATE OF THE UNITED STATES OR THE DISTRICT OF COLUMBIA), CANADA, AUSTRALIA, JAPAN, NEW ZEALAND, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH THE SAME WOULD BE UNLAWFUL.
THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT (THE "ANNOUNCEMENT") IS DEEMED BY THE GROUP TO CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATION (EU) NO. 596/2014, AS IT FORMS PART OF UK DOMESTIC LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018, AS AMENDED. UPON PUBLICATION OF THIS ANNOUNCEMENT, THIS INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.
17 December 2025
Asiamet Resources Limited
US$3.1 million Subscription
Asiamet Resources Limited ("Asiamet" or the "Company") is pleased to announce it has raised a total of approximately US$3.1 million (approximately £2.3 million), via a direct subscription by the Company's majority shareholder PT Buma International Tbk. ("BUMA"), certain members of the Board and Management team and several other investors (together, the "Subscription"). Pursuant to the Subscription, a total of 149,387,512 new common shares of US$0.01 each ("Common Shares") will be issued at a price of 1.55 pence (approximately US$0.02) per share (the "Issue Price").
Highlights of the Subscription:
· Strategic shareholder BUMA, subscribing for approximately US$1.37 million, maintaining its equity interest of 44.15% in the Company
· Certain Asiamet Directors and Management subscribing for approximately US$0.24 million; and
· Other investors subscribing for approximately US$1.49 million.
Net proceeds of the Subscription will be utilised for general working capital purposes, including to:
· Maintain the Company's projects in good standing with all Government of Indonesia regulatory requirements;
· Progress the satisfaction of the Conditions Precedent under the proposed sale of our interest in the KSK project via the sale of Indokal Limited; and
· Continue the evaluation of the most value-accretive path forward for the Beutong Project.
Darryn McClelland, Chief Executive Officer of Asiamet, commented:
"The Company remains focused on concluding the proposed sale of Indokal Limited in the short order and delivering a return of substantially all the funds from the sale to shareholders as previously outlined. The funding announced today enables the Company to maintain its projects in good standing, an important requirement under the Indokal Sale Purchase Agreement, and to advance activities towards completion of the transaction, which remains on track for completion within the previously communicated timeframe. I look forward to updating our stakeholders as we progress towards completion."
The Subscription
The Company's major shareholder BUMA has subscribed for 65,948,145 new Common Shares pursuant to the Subscription ("BUMA Shares") at the Issue Price, raising US$1.37 million.
Tony Manini, a Director and Chairman of the Company, Dominic Heaton, a Non-Executive Director of the Company, Matthew Doube, a Non-Executive Director of the Company and Darryn McClelland, Chief Executive Officer of the Company, have agreed to subscribe for, in aggregate, 11,534,530 new Common Shares pursuant to the Subscription at the Issue Price, raising US$0.24 million.
In addition, a group of other investors have subscribed for a total of 71,904,837 new Common Shares at the issue price raise gross proceeds of US$1.49 million.
On Admission, the shareholdings of the Directors/PDMRs participating in the Subscription will be as follows:
| Director/PDMR | Existing Common Shares Held | Subscription Shares | Total Shareholding post Subscription | Percentage of enlarged share capital |
| Tony Manini | 73,243,573 | 3,372,450 | 76,616,023 | 2.26% |
| Dominic Heaton | 18,722,824 | 862,080 | 19,584,904 | 0.58% |
| Matthew Doube | 3,492,842 | 4,800,000 | 8,292,842 | 0.24% |
| Darryn McClelland | 41,641,216 | 2,500,000 | 44,141,216 | 1.30% |
| 1. | Details of the person discharging managerial responsibilities / person closely associated | |||||||||
| a. | Name | 1. Tony Manini 2. Darryn McClelland 3. Dominic Heaton 4. Matthew Doube | ||||||||
| 2. | Reason for the notification | |||||||||
| a. | Position/status | 1. Executive Chairman 2. Chief Executive Officer (PDMR) 3. Non-Executive Director 4. 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 | Asiamet Resources Limited | ||||||||
| b. | LEI | 213800PWJMT1NG28TA88 | ||||||||
| 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 | Common Shares of par value US$0.01 each BM04521V1038 | ||||||||
| b. | Nature of the transaction | Purchase of common shares | ||||||||
| c. | Price(s) and volume(s) |
| ||||||||
| d. | Aggregated information · Aggregated volume · Price | N/A (singletransactions) | ||||||||
| e. | Date of the transaction | 17 December 2025 | ||||||||
| f. | Place of the transaction | Outside a trading venue | ||||||||
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