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REG - European Metals Hldg - Doc re. Quarterly Report 31 Mar 2023

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RNS Number : 8756X  European Metals Holdings Limited  28 April 2023

For immediate release

28 April 2023

QUARTERLY ACTIVITIES REPORT - March 2023

 

European Metals Holdings Limited (ASX & AIM: EMH, OTCQX: EMHXY, ERPNF and
EMHLF) ("European Metals" or the "Company") is pleased to provide an update on
its activities during the three-month period ending 31 March 2023 highlighting
the continued progress in the development of the globally significant Cinovec
Lithium/Tin Project ("the Project" or "Cinovec") in the Czech Republic.

During the reporting period, the Company made two very significant
announcements with respect to the delivery of the Cinovec Project.

Firstly, European Metals was pleased to announce that the Cinovec Project had
been declared a Strategic Project by the Just Transition Fund ('JTF') (refer
to the Company's ASX and AIM announcement dated 30 January 2023) (European
Union's Just Transition Fund approves Cinovec as a Strategic Project).
Geomet s.r.o (the Cinovec project company) will apply for JTF Grant funding
for the maximum amount of CZK 1.2bn (approximately €49m).

Secondly, European Metals announced the appointment of DRA Global Limited
("DRA") to complete the Definitive Feasibility Study ("DFS") for the Cinovec
Project in the Czech Republic (refer to the Company's ASX and AIM announcement
dated 2 February 2023).

DRA is a recognised leader in the delivery of lithium projects globally with
over 30 years' experience in the development and execution of projects.  DRA
has the necessary capacity, expertise and track record to deliver the Cinovec
DFS in a timely and efficient manner and will be working to build on all of
the optimisation work that the Cinovec team completed over the course of 2022
with a view to completion of the DFS in Q4 2023.

DRA's appointment for this vital piece of project development work is
testament to both the Company's and its joint-venture partner CEZ s.a.
commitment to, and the tremendous prospectivity and value of, the Cinovec
Project. The Cinovec Project's in-house team continue to work closely with DRA
to develop and finalise the DFS.

CORPORATE AND ADMINISTRATION

QUARTERLY CASHFLOW REPORT

In accordance with the ASX Listing Rules, the Company will also today lodge
its cashflow report for the quarter ended 31 March 2023. Included in those
cashflows is a cash outflow for Cinovec associated costs of $130k in respect
of the Company's investment in the Cinovec Lithium Exploration Project in the
Czech Republic ("the Project").

The Company's total cash is in excess of AUD 16 million as at 31 March 2023.

PAYMENTS TO RELATED PARTIES

As outlined in the attached Appendix 5B (section 6.1), during the quarter
approximately $154k in payments were made to related parties and their
associates for director salaries, consultancy fees, superannuation, and other
related costs. A portion of these expenses are to be reimbursed directly from
Geomet.

CORPORATE ACTIVITY

Subsequent to the reporting period, the Company announced the appointment of
Ms Shannon Robinson as Company Secretary following the resignation of
Mr David Koch.

GEOMET TENEMENT SCHEDULE

Table 1: Geomet Tenements

 

 Permit                     Code         Deposit            Interest at beginning of Quarter  Acquired / Disposed  Interest at end of Quarter
                            Cinovec      N/A                100%                              N/A                  100%

 Exploration Area
                            Cinovec II   100%                                                 N/A                  100%
                            Cinovec III  100%                                                 N/A                  100%
                            Cinovec IV   100%                                                 N/A                  100%
 Preliminary Mining Permit  Cinovec II   Cinovec South      100%                              N/A                  100%
                            Cinovec III  Cinovec East       100%                              N/A                  100%
                            Cinovec IV   Cinovec NorthWest  100%                              N/A                  100%

 

This announcement has been approved for release by the Board.

 

 

 

 

BACKGROUND INFORMATION ON CINOVEC

PROJECT OVERVIEW

Cinovec Lithium/Tin Project

Geomet s.r.o. controls the mineral exploration licenses awarded by the Czech
State over the Cinovec Lithium/Tin Project. Geomet has been granted a
preliminary mining permit by the Ministry of Environment and the Ministry of
Industry. The company is owned 49% by EMH and 51% by CEZ a.s. through its
wholly owned subsidiary, SDAS. Cinovec hosts a globally significant hard rock
lithium deposit with a total Measured Mineral Resource of 53.3Mt at 0.48% Li2O
and 0.08% Sn, Indicated Mineral Resource of 360.2Mt at 0.44% Li2O and 0.05% Sn
and an Inferred Mineral Resource of 294.7Mt at 0.39% Li2O and 0.05% Sn
containing a combined 7.39 million tonnes Lithium Carbonate Equivalent and
335.1kt of tin (refer to the Company's ASX release dated 13 October 2021)
(Resource Upgrade at Cinovec Lithium Project).

An initial Probable Ore Reserve of 34.5Mt at 0.65% Li(2)O and 0.09% Sn
reported 4 July 2017 (Cinovec Maiden Ore Reserve - Further Information) has
been declared to cover the first 20 years mining at an output of 22,500tpa of
lithium carbonate (refer to the Company's ASX release dated 11 July 2018)
(Cinovec Production Modelled to Increase to 22,500tpa of Lithium Carbonate).

This makes Cinovec the largest hard rock lithium deposit in Europe, the fifth
largest non-brine deposit in the world and a globally significant tin
resource.

The deposit has previously had over 400,000 tonnes of ore mined as a trial
sub-level open stope underground mining operation.

On 19 January 2022, EMH provided an update to the 2019 PFS Update, conducted
by specialist independent consultants which, based upon the production of
29,386tpa of lithium hydroxide, indicates a post-tax NPV of USD1.938B and a
post-tax IRR of 36.3% and confirmed that the Cinovec Project is a potential
low operating cost producer of battery-grade lithium hydroxide or battery
grade lithium carbonate as markets demand. It confirmed the deposit is
amenable to bulk underground mining (refer to the Company's ASX release dated
19 January 2022) (PFS Update delivers outstanding results). Metallurgical
test-work has produced both battery-grade lithium hydroxide and battery-grade
lithium carbonate in addition to high-grade tin concentrate at excellent
recoveries. Cinovec is centrally located for European end-users and is well
serviced by infrastructure, with a sealed road adjacent to the deposit, rail
lines located 5 km north and 8 km south of the deposit, and an active 22 kV
transmission line running to the historic mine. As the deposit lies in an
active mining region, it has strong community support.

The economic viability of Cinovec has been enhanced by the recent strong
increase in demand for lithium globally, and within Europe specifically.

There are no other material changes to the original information and all the
material assumptions continue to apply to the forecasts.

 

BACKGROUND INFORMATION ON CEZ

Headquartered in the Czech Republic, CEZ a.s. is an established, integrated
energy group with operations in a number of Central and South-eastern
European countries and Turkey. CEZ's core business is the generation,
distribution, trade in, and sales of electricity and heat, trade in and sales
of natural gas, and coal extraction. CEZ Group is one of the ten largest
energy companies in Europe, has more than 28,000 employees and annual revenue
of approximately EUR 11.39 billion.

The largest shareholder of its parent company, CEZ a.s., is the Czech
Republic with a stake of approximately 70%. The shares of CEZ a.s. are traded
on the Prague and Warsaw stock exchanges and included in the PX and WIG-CEE
exchange indices. CEZ's market capitalization is approximately EUR 20.5
billion.

As one of the leading Central European power companies, CEZ intends to develop
several projects in areas of energy storage and battery manufacturing in the
Czech Republic and in Central Europe.

CEZ is also a market leader for E-mobility in the region and has installed and
operates a network of EV charging stations throughout Czech Republic. The
automotive industry in the Czech Republic is a significant contributor to GDP,
and the number of EV's in the country is expected to grow significantly in the
coming years.

CONTACT

For further information on this update or the Company generally, please visit
our website at www.europeanmet.com (http://www.europeanmet.com) or see full
contact details at the end of this release.

COMPETENT PERSON

Information in this announcement relating to the FECAB metallurgical testwork
is based on technical data compiled or supervised by Mr Walter Mädel, a
full-time consultant to Geomet s.r.o the Cinovec project company. Mr Mädel is
a member of the Australasian Institute of Mining and Metallurgy (AUSIMM) and a
mineral processing professional with over 27 years of experience in
metallurgical process and project development, process design, project
implementation and operations. Of his experience, at least 5 years have been
specifically focused on hard rock pegmatite Lithium processing development. Mr
Mädel consents to the inclusion in the announcement of the matters based on
this information in the form and context in which it appears.  Mr Mädel is a
participant in the long-term incentive plan of the Company.

 Information in this release that relates to exploration results is based on
information compiled by Dr Vojtech Sesulka. Dr Sesulka is a Certified
Professional Geologist (certified by the European Federation of Geologists), a
member of the Czech Association of Economic Geologist, and a Competent Person
as defined in the JORC Code 2012 edition of the Australasian Code for
Reporting of Exploration Results, Mineral Resources and Ore Reserves. Dr
Sesulka has provided his prior written consent to the inclusion in this report
of the matters based on his information in the form and context in which it
appears. Dr Sesulka is an independent consultant with more than 10 years
working for the EMH or Geomet companies. Dr Sesulka does not own any shares in
the Company and is not a participant in any short- or long-term incentive
plans of the Company.

Mr Grant Harman (B.Sc Chem Eng, B.Com) is an independent consultant with in
excess of 7 years of lithium chemicals experience. Mr Harman supervised and
reviewed the metallurgical test work and the process design criteria and flow
sheets in relation to the LCP.  Mr Harman is a participant in the long-term
incentive plan of the Company.

The information in this release that relates to Mineral Resources and
Exploration Targets is based on, and fairly reflects, information and
supporting documentation prepared by Mr Lynn Widenbar. Mr Widenbar, who is a
Member of the Australasian Institute of Mining and Metallurgy and a Member of
the Australasian Institute of Geoscientists, is a full-time employee of
Widenbar and Associates and produced the estimate based on data and geological
information supplied by European Metals. Mr Widenbar has sufficient experience
that is relevant to the style of mineralisation and type of deposit under
consideration and to the activity that he is undertaking to qualify as a
Competent Person as defined in the JORC Code 2012 Edition of the Australasian
Code for Reporting of Exploration Results, Minerals Resources and Ore
Reserves. Mr Widenbar has provided his prior written consent to the inclusion
in this report of the matters based on his information in the form and context
that the information appears. Mr Widenbar does not own any shares in the
Company and is not a participant in any short- or long-term incentive plans of
the Company.

The information in this report is extracted from ASX announcements made by EMH
on 11 July 2018 "Cinovec Production Modelled to Increase to 22,500tpa of
Lithium Carbonate", 13 October 2021 "Resource Upgrade at Cinovec Lithium
Project" and 19 January 2022 "PFS Update delivers outstanding results" which
are available to view on the Company's website: europeanmet.com. The Company
confirms that it is not aware of any new information or data that materially
affects the information included in the original market announcement and, in
the case of estimates of Mineral Resources or Ore Reserves, that all material
assumptions and technical parameters underpinning the estimates in the
relevant market announcement continue to apply and have not materially
changed. The Company confirms that the form and context in which the Competent
Person's findings are presented have not been materially modified from the
original market announcement.

CAUTION REGARDING FORWARD LOOKING STATEMENTS

The Company has concluded that it has a reasonable basis for providing the
forward-looking statements and the forecast financial information included in
this ASX release. While the Company considers the assumptions to be based on
reasonable grounds, there is no certainty that they will prove to be correct
or that the range of outcomes indicated by LCA will be achieved. This ASX
release has been prepared in compliance with the current JORC Code (2012) and
the ASX Listing Rules.

Information included in this release constitutes forward-looking statements.
Often, but not always, forward looking statements can generally be identified
by the use of forward looking words such as "may", "will", "expect", "intend",
"plan", "estimate", "anticipate", "continue", and "guidance", or other similar
words and may include, without limitation, statements regarding plans,
strategies and objectives of management, anticipated production or
construction commencement dates and expected costs or production outputs.

Forward looking statements inherently involve known and unknown risks,
uncertainties and other factors that may cause the company's actual results,
performance, and achievements to differ materially from any future results,
performance, or achievements. Relevant factors may include, but are not
limited to, changes in commodity prices, foreign exchange fluctuations and
general economic conditions, increased costs and demand for production inputs,
the speculative nature of exploration and project development, including the
risks of obtaining necessary licences and permits and diminishing quantities
or grades of reserves, political and social risks, changes to the regulatory
framework within which the company operates or may in the future operate,
environmental conditions including extreme weather conditions, recruitment and
retention of personnel, industrial relations issues and litigation.

Forward looking statements are based on the company and its management's good
faith assumptions relating to the financial, market, regulatory and other
relevant environments that will exist and affect the company's business and
operations in the future. The company does not give any assurance that the
assumptions on which forward looking statements are based will prove to be
correct, or that the company's business or operations will not be affected in
any material manner by these or other factors not foreseen or foreseeable by
the company or management or beyond the company's control.

Although the company attempts and has attempted to identify factors that would
cause actual actions, events or results to differ materially from those
disclosed in forward looking statements, there may be other factors that could
cause actual results, performance, achievements or events not to be as
anticipated, estimated or intended, and many events are beyond the reasonable
control of the company. Accordingly, readers are cautioned not to place undue
reliance on forward looking statements. Forward looking statements in these
materials speak only at the date of issue. Subject to any continuing
obligations under applicable law or any relevant stock exchange listing rules,
in providing this information the company does not undertake any obligation to
publicly update or revise any of the forward looking statements or to advise
of any change in events, conditions or circumstances on which any such
statement is based.

LITHIUM CLASSIFICATION AND CONVERSION FACTORS

Lithium grades are normally presented in percentages or parts per million
(ppm). Grades of deposits are also expressed as lithium compounds in
percentages, for example as a percent lithium oxide (Li(2)O) content or
percent lithium carbonate (Li(2)CO(3)) content.

Lithium carbonate equivalent ("LCE") is the industry standard terminology for,
and is equivalent to, Li(2)CO(3). Use of LCE is to provide data comparable
with industry reports and is the total equivalent amount of lithium carbonate,
assuming the lithium content in the deposit is converted to lithium carbonate,
using the conversion rates in the table included below to get an equivalent
Li(2)CO(3) value in percent. Use of LCE assumes 100% recovery and no process
losses in the extraction of Li(2)CO(3) from the deposit.

Lithium resources and reserves are usually presented in tonnes of LCE or Li.

The standard conversion factors are set out in the table 4 below:

Table 2: Conversion Factors for Lithium Compounds and Minerals

 

 Convert from                   Convert to Li  Convert to Li2O  Convert to Li2CO3  Convert to LiOH.H2O
 Lithium            Li          1.000          2.153            5.325              6.048
 Lithium Oxide      Li(2)O      0.464          1.000            2.473              2.809
 Lithium Carbonate  Li(2)CO(3)  0.188          0.404            1.000              1.136
 Lithium Hydroxide  LiOH.H(2)O  0.165          0.356            0.880              1.000
 Lithium Fluoride   LiF         0.268          0.576            1.424              1.618

 

 

 

 

Appendix 5B
Mining exploration entity or oil and gas exploration entity

quarterly cash flow report
 Name of entity
 European Metals Holdings Limited (ASX: EMH)
 ABN                 Quarter ended ("current quarter")
 55 154 618 989      31 March 2023

 

 Consolidated statement of cash flows                                                               Current quarter  Year to date

$A'000

                                                                                                                     (9 months)

$A'000
 1.                   Cash flows from operating activities                                          -                551
 1.1                  Receipts from associate
 1.2                  Payments for                                                                  -                -
                      (a)   exploration & evaluation
                      (b)   development                                                             -                -
                      (c)   production                                                              -                -
                      (d)   staff costs                                                             (306)            (648)
                      (e)   administration and corporate costs                                      (469)            (2,172)
 1.3                  Dividends received (see note 3)                                               -                -
 1.4                  Interest received                                                             143              227
 1.5                  Interest and other costs of finance paid                                      -                -
 1.6                  Income taxes paid                                                             -                -
 1.7                  Government grants and tax incentives                                          -                -
 1.8                  Other (Cinovec associated costs)                                              (130)            (355)
 1.9                  Net cash from / (used in) operating activities                                (762)            (2,397)

 2.                   Cash flows from investing activities                                          -                -
 2.1                  Payments to acquire or for:
                      (a)   entities
                      (b)   tenements                                                               -                -
                      (c)   property, plant and equipment                                           (1)              (4)
                      (d)   exploration & evaluation                                                -                -
                      (e)   investments                                                             -                -
                      (f)    other non-current assets                                               -                -
 2.2                  Proceeds from the disposal of:                                                -                -
                      (a)   entities
                      (b)   tenements                                                               -                -
                      (c)   property, plant and equipment                                           -                -
                      (d)   investments                                                             -                -
                      (e)   other non-current assets                                                -                -
 2.3                  Cash flows from loans to other entities                                       -                -
 2.4                  Dividends received (see note 3)                                               -                -
 2.5                  Other (provide details if material)                                           -                -
 2.6                  Net cash from / (used in) investing activities                                (1)              (4)

 3.                   Cash flows from financing activities                                          -                -
 3.1                  Proceeds from issues of equity securities (excluding convertible debt
                      securities)
 3.2                  Proceeds from issue of convertible debt securities                            -                -
 3.3                  Proceeds from exercise of options                                             -                -
 3.4                  Transaction costs related to issues of equity securities or convertible debt  -                -
                      securities
 3.5                  Proceeds from borrowings                                                      -                -
 3.6                  Repayment of borrowings                                                       -                -
 3.7                  Transaction costs related to loans and borrowings                             -                -
 3.8                  Dividends paid                                                                -                -
 3.9                  Other (Lease Payments)                                                        (16)             (40)
 3.10                 Net cash from / (used in) financing activities                                (16)             (40)

 4.                   Net increase / (decrease) in cash and cash equivalents for the period
 4.1                  Cash and cash equivalents at beginning of period                              17,472           19,055
 4.2                  Net cash from / (used in) operating activities (item 1.9 above)               (762)            (2,397)
 4.3                  Net cash from / (used in) investing activities (item 2.6 above)               (1)              (4)
 4.4                  Net cash from / (used in) financing activities (item 3.10 above)              (16)             (40)
 4.5                  Effect of movement in exchange rates on cash held                             22               101
 4.6                  Cash and cash equivalents at end of period                                    16,715           16,715

 

 5.   Reconciliation of cash and cash equivalents                                                                             Current quarter  Previous quarter
      at the end of the quarter (as shown in the consolidated statement of cash flows) to the related items in the accounts
$A'000
$A'000
 5.1  Bank balances                                                                                                           12,655           12,912
 5.2  Call deposits                                                                                                           -                -
 5.3  Bank overdrafts                                                                                                         -                -
 5.4  Term deposit less than 3 months                                                                                         4,060            4,560
 5.5  Cash and cash equivalents at end of quarter (should equal item 4.6 above)                                               16,715           17,472

 
 6.   Payments to related parties of the entity and their associates                 Current quarter

$A'000
 6.1  Aggregate amount of payments to related parties and their associates included  154
      in item 1
 6.2  Aggregate amount of payments to related parties and their associates included  -
      in item 2
 Note: if any amounts are shown in items 6.1 or 6.2, your quarterly activity
 report must include a description of, and an explanation for, such payments.

 

 Amounts paid to directors as director remuneration. A portion of these
 expenses are to be reimbursed directly from Geomet. Included in 6.1 are also
 payments to Everest Corporate Pty Ltd and Nexia Perth Pty Ltd, companies
 controlled and/or directed by a spouse of a director, for company secretarial
 support, accounting and bookkeeping fees of $15.2k.

 

 7.   Financing facilities                                                                              Total facility amount at quarter end  Amount drawn at quarter end
      Note: the term "facility' includes all forms of financing arrangements available to the entity.
$A'000
$A'000
      Add notes as necessary for an understanding of the sources of finance available to the entity.
 7.1  Loan facilities                                                                                   -                                     -
 7.2  Credit standby arrangements                                                                       -                                     -
 7.3  Other (please specify)                                                                            -                                     -
 7.4  Total financing facilities                                                                        -                                     -

 7.5  Unused financing facilities available at quarter end                                                                                    -
 7.6  Include in the box below a description of each facility above, including the
      lender, interest rate, maturity date and whether it is secured or unsecured.
      If any additional financing facilities have been entered into or are proposed
      to be entered into after quarter end, include a note providing details of
      those facilities as well.

 

 8.   Estimated cash available for future operating activities                        $A'000
 8.1  Net cash from / (used in) operating activities (item 1.9)                       (762)
 8.2  (Payments for exploration & evaluation classified as investing activities)      -
      (item 2.1(d))
 8.3  Total relevant outgoings (item 8.1 + item 8.2)                                  (762)
 8.4  Cash and cash equivalents at quarter end (item 4.6)                             16,715
 8.5  Unused finance facilities available at quarter end (item 7.6)                   -
 8.6  Total available funding (item 8.4 + item 8.5)                                   16,715

 8.7  Estimated quarters of funding available (item 8.6 divided by item 8.3)          21.9
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      8.8.1     Does the entity expect that it will continue to have the current
      level of net operating cash flows for the time being and, if not, why not?
      Answer: N/A

      8.8.2     Has the entity taken any steps, or does it propose to take any
      steps, to raise further cash to fund its operations and, if so, what are those
      steps and how likely does it believe that they will be successful?
      Answer: N/A

      8.8.3     Does the entity expect to be able to continue its operations and
      to meet its business objectives and, if so, on what basis?
      Answer: N/A

      Note: where item 8.7 is less than 2 quarters, all of questions 8.8.1, 8.8.2
      and 8.8.3 above must be answered.

 

Compliance statement

1        This statement has been prepared in accordance with accounting
standards and policies which comply with Listing Rule 19.11A.

2        This statement gives a true and fair view of the matters
disclosed.

 

 

Date:                28 April 2023

 

Authorised by:  The Board

(Name of body or officer authorising release - see note 4)

 

Notes

1.          This quarterly cash flow report and the accompanying
activity report provide a basis for informing the market about the entity's
activities for the past quarter, how they have been financed and the effect
this has had on its cash position. An entity that wishes to disclose
additional information over and above the minimum required under the Listing
Rules is encouraged to do so.

2.          If this quarterly cash flow report has been prepared in
accordance with Australian Accounting Standards, the definitions in, and
provisions of, AASB 6: Exploration for and Evaluation of Mineral Resources and
AASB 107: Statement of Cash Flows apply to this report. If this quarterly cash
flow report has been prepared in accordance with other accounting standards
agreed by ASX pursuant to Listing Rule 19.11A, the corresponding equivalent
standards apply to this report.

3.          Dividends received may be classified either as cash flows
from operating activities or cash flows from investing activities, depending
on the accounting policy of the entity.

4.          If this report has been authorised for release to the
market by your board of directors, you can insert here: "By the board". If it
has been authorised for release to the market by a committee of your board of
directors, you can insert here: "By the [name of board committee - eg Audit
and Risk Committee]". If it has been authorised for release to the market by a
disclosure committee, you can insert here: "By the Disclosure Committee".

5.          If this report has been authorised for release to the
market by your board of directors and you wish to hold yourself out as
complying with recommendation 4.2 of the ASX Corporate Governance Council's
Corporate Governance Principles and Recommendations, the board should have
received a declaration from its CEO and CFO that, in their opinion, the
financial records of the entity have been properly maintained, that this
report complies with the appropriate accounting standards and gives a true and
fair view of the cash flows of the entity, and that their opinion has been
formed on the basis of a sound system of risk management and internal control
which is operating effectively.

 

WEBSITE

A copy of this announcement is available from the Company's website at
www.europeanmet.com.

ENQUIRIES:

 European Metals Holdings Limited

 Keith Coughlan, Executive Chairman          Tel: +61 (0) 419 996 333

                                             Email: keith@europeanmet.com (mailto:keith@europeanmet.com)

 Kiran Morzaria, Non-Executive Director      Tel: +44 (0) 20 7440 0647

 Shannon Robinson, Company Secretary         Tel: +61 (0) 418 675 845

                                             Email: shannon@europeanmet.com (mailto:shannon@europeanmet.com)

 WH Ireland Ltd (Nomad & Broker)

 James Joyce/Darshan Patel                   Tel: +44 (0) 20 7220 1666

 (Corporate Finance)

 Harry Ansell (Broking)

 Panmure Gordon (UK) Limited (Joint Broker)

 John Prior                                  Tel: +44 (0) 20 7886 2500

 Hugh Rich

 James Sinclair Ford

 Harriette Johnson

 Blytheweigh (Financial PR)                  Tel: +44 (0) 20 7138 3222

 Tim Blythe

 Megan Ray

 Chapter 1 Advisors (Financial PR - Aus)

 David Tasker                                Tel: +61 (0) 433 112 936

 

The information contained within this announcement is considered to be inside
information, for the purposes of Article 7 of EU Regulation 596/2014, prior to
its release.  The person who authorised for the release of this announcement
on behalf of the Company was Keith Coughlan, Executive Chairman.

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
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.

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.   END  DOCGIGDSUDDDGXI

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