Asiamet Resources Limited Issue of Director Performance Rights (0881E)

TIDMARS

RNS Number : 0881E

Asiamet Resources Limited

01 July 2019

1 July 2019

Issue of Director Performance Rights

Asiamet Resources Limited ("ARS" or the "Company") notes that pursuant to their letters of engagement, each of the Non-Executive Directors ("Directors") of the Company and the Chairman are eligible to receive directors fees. The Chairman and Directors have elected to receive these fees in performance rights in the form of shares for the period 1 January 2018 to 31 December 2018.

The share price to be used for the calculation is a 10-day VWAP over the 10 trading days immediately following publication of the Company's annual accounts, or if the Company is in a close period at that time, for the 10 trading days immediately following the end of that close period. In this case the share price used based on the above formula was 4.15p.

The award of performance rights for the 2018/19 year is set out below:

Dominic Heaton - 341,446 shares

Faldi Ismail - 663,349 shares

Peter Pollard - 663,349 shares

Tony Manini - 663,349 shares

Following the issuance of the above 2,331,493 shares ("New Common Shares"), the shareholdings of those directors will be as follows:

 
 Director          Holding of Common   Percentage of Enlarged 
                              Shares            Share Capital 
 Dominic Heaton            1,659,093                    0.16% 
                  ------------------  ----------------------- 
 Faldi Ismail              6,642,744                    0.64% 
                  ------------------  ----------------------- 
 Peter Pollard             1,371,850                    0.13% 
                  ------------------  ----------------------- 
 Tony Manini              33,692,183                    3.22% 
                  ------------------  ----------------------- 
 

Application will be made for the 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 5 July 2019. 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 1,043,629,249 to 1,045,960,742. 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.

ON BEHALF OF THE BOARD OF DIRECTORS

Peter Bird, Deputy Chairman and CEO

For further information, please contact:

-Ends-

Peter Bird

CEO, Asiamet Resources Limited

Telephone: [phone]

Email: [e-mail]

Tony Manini

Executive Chairman, Asiamet Resources Limited

Telephone: [phone]

Email: [e-mail]

FlowComms Limited

Sasha Sethi

Telephone: [phone]

Email: [e-mail]

Asiamet Resources Nominated Adviser

RFC Ambrian Limited

Andrew Thomson / Stephen Allen

Telephone: [phone]

Email: [e-mail] / [e-mail]

Berenberg

Matthew Armitt, Detlir Elezi

Telephone: [phone]

Email: [e-mail] / [e-mail]

Liberum

Clayton Bush, Kane Collings

Telephone: [phone]

Email: [e-mail]

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END

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July 01, 2019 11:00 ET (15:00 GMT)