REG - Asiamet Resources Ld - Director’s Fees and Employee Incentive Payments
17/12/2024 10:00
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RNS Number : 4050Q Asiamet Resources Limited 17 December 2024
17 December 2024
Asiamet Resources Limited
("Asiamet" or the "Company")
2023 Director's Fees and Employee Incentive Payments
Asiamet Resources Limited ("ARS" or the "Company") announces that, the
Non-Executive Directors ("Directors"), and the Executive Chairman of the
Company have opted to receive the fees due to them under their respective
employment contracts for the period from 1 January 2022 to 31 December 2023,
in the form of new common shares of US$0.01 each in the Company ("Common
Shares") in lieu of cash (" Fee Shares"), using the pricing mechanism as set
out in their respective contracts as set out below.
The issue price used for the calculation is a 10-day volume weighted average
price ("VWAP") of the Company's Common Shares over the 10 trading days
immediately following publication of the Company's Annual Accounts as released
on 9 May 2024. The issue price has therefore been calculated at 1.35 pence per
new Common Share (the "Issue Price").
The award of New Common Shares in the Company to directors for director's fees
for the 2023 year is set out below:
Tony Manini 2,330,296 new Common Shares
Dominic Heaton 2,380,593 new Common Shares
Bruce Sheng 2,039,037 new Common Shares
Eva Armila 2,089,259 new Common Shares
Peter Chambers 452,519 new Common Shares
Matthew Doube 564,222 new Common Shares
In addition to the abovementioned share issuance, the Company will award a
further 9,345,662 performance rights in the form of new Common Shares in
Asiamet, at an issue price of 1.35p per Common Share ("Performance Rights
Shares") to certain employees, in lieu of cash, for their contribution to the
Company during 2023 and as a long-term incentive. This includes 1,424,373 new
Common Shares allocated to Tony Manini for his role as Executive Chairman
during the period, and 6,700,011 new Common Shares to Darryn McClelland under
his Short-Term Incentive arrangement and 1,221,278 to non-Board Asiamet
employees.
A further 3,824,222 new Common Shares in the Company will be issued to certain
former employees.
Following the issue of the above new Common Shares, the shareholdings of the
directors (including direct and indirect holdings) and other PDMR will be as
follows:
Director Holding of Common Shares Percentage of Share Capital Following
Admission
Tony Manini 68,353,807 2.30%
Dominic Heaton 15,254,923 0.51%
Bruce Sheng 147,252,670 4.95%
Eva Armila 6,007,302 0.20%
Peter Chambers 3,452,519 0.12%
Matthew Doube 616,607 0.02%
Other PDMR
Darryn McClelland 33,325,495 1.12%
Application and Total Voting Rights
Application has been made for the 23,025,810 new Common Shares to be admitted
to trading on AIM ("Admission"). It is expected that Admission to AIM will
become effective and dealings in the new Common Shares will commence on or
around 20 December 2024. The new Common Shares will rank pari passu in all
respects with the existing Common Shares in the Company.
The total number of Common Shares outstanding after completion of the issue of
the new Common Shares will increase from 2,953,442,174 to 2,976,467,984
shares. This represents the total number of voting rights in the Company and
may be used by shareholders as the denominator for the calculations by which
they can determine if they are required to notify their interest in, or a
change to their interest in the Company under the Financial Conduct
Authority's Disclosure and Transparency Rules.
The following notification has been made in accordance with the requirements
of the EU Market Abuse Regulation as part of UK domestic law by virtue of the
European Union (Withdrawal) Act 2018, as amended.
Notification of Transactions of Persons Discharging Managerial Responsibility
and Persons Closely Associated with them.
1. Details of the person discharging managerial responsibilities / person closely
associated
a) Name 1. Tony Manini
2. Dominic Heaton
3. Bruce Sheng
4. Eva Armila
5. Peter Chambers
6. Matthew Doube
2. Reason for the Notification
a) Position/status 1. Executive Chairman
2. Non-Executive Director
3. Non-Executive Director
4. Non-Executive Director
5. Former Non-Executive Director
6. 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 Common Shares of par value US$0.01 each
Identification code BM04521V1038
b) Nature of the Transaction Issue of Fee Shares
c) Price(s) and volume(s) Price(s) Volume(s)
1.35 2,330,296
1.35 2,380,593
1.35 2,039,037
1.35 2,089,259
1.35 452,519
1.35 564,222
d) Aggregated information N/A (Single transaction)
Aggregated volume Price
e) Date of the transaction 17 December 2024
f) Place of the transaction London Stock Exchange
d)
Aggregated information
Aggregated volume Price
N/A (Single transaction)
e)
Date of the transaction
17 December 2024
f)
Place of the transaction
London Stock Exchange
1. Details of the person discharging managerial responsibilities / person closely
associated
a) Name 1. Tony Manini
2. Darryn McClelland
2. Reason for the Notification
a) Position/status 1. Executive Chairman
2. Chief Executive Officer
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 Common Shares of par value US$0.01 each
Identification code BM04521V1038
b) Nature of the Transaction Issue of Performance Rights Shares
c) Price(s) and volume(s) Price(s) Volume(s)
1.35 1,424,373
1.35 6,700,011
d) Aggregated information N/A (Single transaction)
Aggregated volume Price
e) Date of the transaction 17 December 2024
f) Place of the transaction London Stock Exchange
d)
Aggregated information
Aggregated volume Price
N/A (Single transaction)
e)
Date of the transaction
17 December 2024
f)
Place of the transaction
London Stock Exchange
ON BEHALF OF THE BOARD OF DIRECTORS
Darryn McClelland, Chief Executive Officer
-Ends-
For further information, please contact:
Darryn McClelland
Chief Executive Officer, Asiamet Resources Limited
Email: darryn.mcclelland@asiametresources.com
(mailto:darryn.mcclelland@asiametresources.com)
Tony Manini
Chairman, Asiamet Resources Limited
Email: tony.manini@asiametresources.com
(mailto:tony.manini@asiametresources.com)
Investor Enquiries
Sasha Sethi
Telephone: +44 (0) 7891 677 441
Email: Sasha@flowcomms.com (mailto:Sasha@flowcomms.com) /
info@asiametresources.com
Nominated & Financial Adviser
Strand Hanson Limited
James Spinney / James Dance / Rob Patrick
Telephone: +44 20 7409 3494
Email: asiamet@strandhanson.co.uk (mailto:asiamet@strandhanson.co.uk)
Broker
Optiva Securities Limited
Christian Dennis
Telephone: +44 20 3137 1903
Email: Christian.Dennis@optivasecurities.com
(mailto:Christian.Dennis@optivasecurities.com)
Follow us on twitter @AsiametTweets
FORWARD-LOOKING STATEMENT
This announcement contains forward-looking statements that are based on the
Company's current expectations and estimates. Forward-looking statements are
frequently characterised by words such as "plan", "expect", "project",
"intend", "believe", "anticipate", "estimate", "suggest", "indicate" and other
similar words or statements that certain events or conditions "may" or "will"
occur. Such forward-looking statements involve known and unknown risks,
uncertainties and other factors that could cause actual events or results to
differ materially from estimated or anticipated events or results implied or
expressed in such forward-looking statements. Such factors include, among
others: the actual results of current exploration activities; conclusions of
economic evaluations; changes in project parameters as plans continue to be
refined; possible variations in ore grade or recovery rates; accidents, labour
disputes and other risks of the mining industry; delays in obtaining
governmental approvals or financing; and fluctuations in metal prices. There
may be other factors that cause actions, events or results not to be as
anticipated, estimated or intended. Any forward-looking statement speaks
only as of the date on which it is made and, except as may be required by
applicable securities laws, the Company disclaims any intent or obligation to
update any forward-looking statement, whether as a result of new information,
future events or results or otherwise. Forward-looking statements are not
guarantees of future performance and accordingly undue reliance should not be
put on such statements due to the inherent uncertainty therein.
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