REG - Asiamet Resources Ld - US$3.1 million Subscription

Asiamet ResourcesAnnouncement

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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%

 

Related Party Transactions

BUMA is a substantial shareholder of the Company. BUMA's participation in the
Subscription is therefore deemed to be a related party transaction under AIM
Rule 13. In addition, the participation of Tony Manini, Dominic Heaton,
Matthew Doube and Darryn McClelland in the Subscription is deemed to be a
related party transaction under AIM Rule 13.

 

As such, and in compliance with the AIM Rules for Companies, the directors of
Asiamet who are independent for the purposes of the Subscription (being Eva
Armila and Bruce Sheng), having consulted with Strand Hanson, in its capacity
as the Company's nominated adviser, consider that the terms of the related
parties' participation in the Subscription are fair and reasonable insofar as
the Company's shareholders are concerned.

 

Admission and Total Voting Rights

The Subscription is subject to, inter alia, admission of the Subscription
Shares to trading on AIM (which are expected to be issued and settled in CREST
to the extent possible). Application will be made to the London Stock Exchange
plc for the admission of the 149,387,512 Subscription Shares to trading on
AIM, which is expected to occur at 8:00 a.m. (GMT) on or around 30 December
2025 ("Admission").

Following Admission, the Company's issued common share capital will comprise
3,393,816,362 Common Shares. From Admission, the figure of 3,393,816,362 may
be used by shareholders as the denominator for the calculations by which they
will determine if they are required to notify their interest in, or a change
to their interest in, the share capital of the Company under the FCA's
Disclosure Guidance and Transparency Rules.

 

Note: for the purposes of this announcement figures have been calculated based
on an exchange rate of US$1.3388 = £1.00

 

Notification and public disclosure of transactions by Persons Discharging
Managerial Responsibilities ("PDMR") and persons closely associated with them
("PCA").

 

 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  Common Shares of par value US$0.01 each
                             code

                                                                                                         BM04521V1038
 b.                          Nature of the transaction                                                   Purchase of common shares
 c.                          Price(s) and volume(s)                                                      Price(s)          Volume(s)
                                                                                                         1.55p per share   3,372,450
                                                                                                         1.55p per share   2,500,000
                                                                                                         1.55p per share   862,080

                                                                                                         1.55p per share   4,800,000
 d.                          Aggregated information

                             ·      Aggregated volume                                                    N/A (single transactions)

                             ·      Price
 e.                          Date of the transaction                                                     17 December 2025
 f.                          Place of the transaction                                                    Outside a trading venue

d.

Aggregated information

·      Aggregated volume

·      Price

 

N/A (single transactions)

e.

Date of the transaction

17 December 2025

f.

Place of the transaction

Outside a trading venue

 

ON BEHALF OF THE BOARD OF DIRECTORS

Tony Manini, Chairman

 

-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

Shore Capital
Toby Gibbs / George Payne

Telephone: +44 20 7408 4050

 

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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