REG - Future Metals NL - Issue of Performance Rights

Future Metals NLAnnouncement

16/11/2022 09:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20221116:nRSP6117Ga&default-theme=true

RNS Number : 6117G  Future Metals NL   16 November 2022

16 November 2022

 

Future Metals NL

Issue of Performance Rights

 

Future Metals NL (ASX | AIM: FME) ("Future Metals" or the "Company") announces
that yesterday it issued a total of 3,549,999 performance rights ("Performance
Rights") to members of its senior management and other key
employees/contractors under the terms of its Performance Rights Plan
(https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02386053-6A1037390?access_token=83ff96335c2d45a094df02a206a39ff4)
approved by shareholders on 4 June 2021. This includes 999,999 Performance
Rights issued to Jardee Kininmonth (Managing Director & CEO of the
Company), further to the approval of Resolution 7 by shareholders at the
Company's Annual General Meeting held on 7 November 2022 and as detailed in
the associated Explanatory Statement in respect of such meeting.

 

Under the Company's Performance Rights Plan, the 3,549,999 Performance Rights
are exercisable for nil consideration up to and including 15 November 2025 and
the vesting criteria are outlined in the table below:

 

 Performance Criteria                                                            No. of Performance Rights
 12 months continuous employment from the date of 17 August 2022                 500,000
 20-day volume weighted average market price per ordinary share in the capital   333,333
 of the Company ("Ordinary Share") exceeding A$0.25 and 24 months continuous
 employment
 20-day volume weighted average market price per Ordinary Share exceeding        333,333
 A$0.30 and 24 months continuous employment
 20-day volume weighted average market price per Ordinary Share exceeding        525,000
 A$0.25 and 12 months continuous employment
 20-day volume weighted average market price per Ordinary Share exceeding        125,000
 A$0.30 and 12 months continuous employment
 20-day volume weighted average market price per Ordinary Share exceeding        250,000
 A$0.25 and 12 months continuous employment from the date of 17 August 2022
 20-day volume weighted average market price per Ordinary Share exceeding        250,000
 A$0.30 and 12 months continuous employment from the date of 17 August 2022
 A 'sulphide discovery hole', being a JORC compliant report being published by   733,333
 the Company detailing a drill hole which has been drilled by the Company
 intersecting at least 10 metres true width greater than or equal to 1.5% NiEq
 at the Panton Project. The Board will ultimately have discretion in
 determining whether a discovery hole has been drilled
 The Company announcing the completion of a Pre-Feasibly Study on the Panton     500,000
 PGM Project that results in the Board making a decision to undertake a
 Definitive Feasibility Study on the Panton PGM Project and 12 months
 continuous employment from the date of 17 August 2022
                                                                                 3,549,999

 

 

Further details are provided in the below PDMR Notification Form, announced in
accordance with Article 19 of the Market Abuse Regulation (EU) 596/2014 as it
forms part of United Kingdom domestic law by virtue of the European Union
(Withdrawal) Act 2018, as amended.

 

This announcement has been approved for release by the Company Secretary of
Future Metals NL.

 

For further information, please contact:

 Future Metals NL                                                         +61 8 9480 0414
 Jardee Kininmonth                                                        info@future-metals.com.au (mailto:info@future-metals.com.au)

 Strand Hanson Limited (Nominated Adviser & Joint Financial Adviser)      +44 (0)207 409 3494
 James Harris / James Bellman

 James Bellman

 Panmure Gordon (UK) Limited (UK Broker & Joint Financial Adviser)        +44 (0)207 886 2500
 John Prior / Hugh Rich / Soman Thakran

 White Noise Communications (Australian IR / PR)                          +61 4 0051 2109
 Fiona Marshall

 FlowComms (UK IR / PR)                                                   +44 (0)78 9167 7441
 Sasha Sethi

 

 

 

PDMR Notification Form:

 1.  Details of the person discharging managerial responsibilities / person closely
     associated
 a)  Name                                                         Jardee Kininmonth
 2.  Reason for the Notification
 a)  Position/status                                              Managing Director and CEO
 b)  Initial notification/amendment                               Initial notification
 3.  Details of the issuer, emission allowance market participant, auction
     platform, auctioneer or auction monitor
 a)  Name                                                         Future Metals NL
 b)  LEI                                                          213800WZ1MNQPOAKNU50
 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  Performance Rights over Ordinary Shares
     Identification code                                          AU0000157745
 b)  Nature of the Transaction                                    Issue of Performance Rights
 c)  Price(s) and volume(s)                                       Price(s)  Volume(s)
                                                                  Nil       999,999
 d)  Aggregated information                                       N/A (Single transaction)

     Aggregated volume Price
 e)  Date of the transaction                                      15 November 2022
 f)  Place of the transaction                                     Outside of a trading venue

d)

Aggregated information

Aggregated volume Price

N/A (Single transaction)

e)

Date of the transaction

15 November 2022

f)

Place of the transaction

Outside of a trading venue

 

 

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
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  DSHGIBDBSUBDGDL