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EMH European Metals Holdings Limited

13.20
0.45 (3.53%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
European Metals Holdings Limited LSE:EMH London Ordinary Share VGG3191T1021 ORD NPV (DI)
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.45 3.53% 13.20 13.00 13.50 13.25 12.75 12.75 1,186,170 16:35:05
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Miscellaneous Metal Ores,nec 1.12M -5.93M -0.0286 -5.24 31.1M

European Metals Holdings Limited Issue of Equity (4243Q)

06/06/2018 7:00am

UK Regulatory


European Metals (LSE:EMH)
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From Mar 2019 to Mar 2024

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TIDMEMH

RNS Number : 4243Q

European Metals Holdings Limited

06 June 2018

For immediate release

6 June 2018

EUROPEAN METALS HOLDINGS LIMITED

EQUITY ISSUE

European Metals Holdings Limited ("European Metals" or the "Company") (ASX and AIM: EMH), announces that it has today issued to employees 1,500,000 new ordinary shares (represented by Chess Depositary interests or "CDIs") in the Company at a price of AU$0.4848 per CDI under the Employee Securities Incentive Plan ("Plan"), representing in aggregate approximately 1.1 per cent. of the issued share capital. As previously announced, he Plan was approved by Shareholders at the Annual General Meeting held on 30 November 2017.

The Company has under the Plan awarded in aggregate 1,000,000 CDIs to Mr Neil Meadows, the Chief Operating Officer, on the conditions ("Tranche Conditions") set out below:

 
 Tranche    No of    Vesting Conditions 
             CDIs 
--------  --------  ------------------------------------------------------- 
    1      250,000   Escrowed until February 2019 
    2      250,000   Company announcing completion of the Definitive 
                      Feasibility Study 
    3      250,000   Company announcing that construction has commenced 
                      at the Cinovec Project 
    4      250,000   Company announcing practical completion of the Cinovec 
                      Project 
 

The Company has under the Plan also awarded in aggregate 400,000 CDIs to Mr James Carter, the Chief Finance Officer, on the Tranche Conditions set out below:

 
 Tranche    No of    Vesting Conditions 
             CDIs 
--------  --------  ------------------------------------------------------ 
    1      200,000   Escrowed 26 February 2019 
    2      200,000   Completion of project finance for the Cinovec Project 
 

The Company has also under the Plan awarded in aggregate a total of 100,000 CDIs, escrowed until 26 February 2019, to other employees of the Company, under the following objectives of the Plan:

(a) Attract and retain quality employees and directors for the benefit of the Company;

(b) Align the interests of employees, directors and the Company;

(c) Provide an incentive and reward for employees and directors for their contribution to the Company; and

(d) Establish a method by which employees and directors can participate in the future growth and profitability of the Company by providing employees and directors with the opportunity to share in the success of the Company by acquiring an ownership interest therein.

Under the Plan, the Plan CDIs have been issued at an issue price of AU$0.4848 per new CDI (equivalent to 26p per new CDI), being the volume weighted average price of Shares traded on the ASX over the 5 trading days immediately preceding the agreement to issue the CDIs on 26 February 2018.

The subscription amount due to the Company in respect of the new Plan CDIs will be accounted for by a limited-recourse interest-free loan provided by the Company to the Plan. There is therefore no cash impact on the Company. As and when the Plan CDIs are sold, then the proceeds from any such sale must be applied first to settle the loan (and thereby the equivalent subscription amount). The balance, if any, is retained by each individual. The proceeds from a sale the Plan CDIs, even if less than their respective loans, will settle their loans in full under the Plan.

Under the terms of the Plan, the Plan CDIs will be subject to an ASX holding lock until the loan is repaid in full and cannot be otherwise be transferred until various voluntary escrow periods have expired and the Tranche Conditions are completed as listed above.

Application is being made for the new ordinary shares represented by the Subscription Shares and the Plan CDIs, in aggregate amounting to 1,500,000 ordinary shares, to be admitted to trading on AIM, with admission expected to take place on or around 12 June 2018. The new ordinary shares will rank pari passu in all respects with the existing ordinary shares in EMH.

Total Voting Rights

Following the issue of the new ordinary shares, the total number of ordinary shares in issue with voting rights is 141,464,727. This figure may be used by shareholders in the Company as the denominator for the calculation by which they will determine if they are required to notify their interest in, or a change of interest in, the share capital of the Company under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.

ENQUIRIES:

 
 European Metals Holdings            Tel: +61 (0) 419 996 
  Limited                             333 
  Keith Coughlan, Chief               Email: keith@europeanmet.com 
  Executive Officer                   Tel: +44 (0) 20 7440 
  Kiran Morzaria, Non-Executive       0647 
  Director                            Tel: +61 (0) 8 6245 2050 
  Julia Beckett, Company              Email: julia@europeanmet.com 
  Secretary 
 Beaumont Cornish (Nomad            Tel: +44 (0) 20 7628 
  & Broker)                          3396 
  Michael Cornish                    Email: corpfin@b-cornish.co.uk 
  Roland Cornish 
 Shard Capital Stockbrokers         Tel: +44 (0) 20 7186 
  (Joint Broker)                     9950 
  Damon Health 
  Erik Woolgar 
 

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 notification below, made in accordance with the requirements of the EU Market Abuse Regulations, provides further detail in respect of the transaction as described above.

 
 1    Details of the person discharging managerial 
       responsibilities / person closely associated 
---  -------------------------------------------------------------- 
 a)   Name                      Neil Meadows 
---  ------------------------  ------------------------------------ 
 2    Reason for notification 
---  -------------------------------------------------------------- 
 a)   Position / status         Chief Operating Officer 
---  ------------------------  ------------------------------------ 
 b)   Initial notification      Initial 
       /Amendment 
---  ------------------------  ------------------------------------ 
 3    Details of the issuer, emission allowance 
       market participant, auction platform, auctioneer 
       or auction monitor 
---  -------------------------------------------------------------- 
 a)   Name                      European Metals Holdings 
                                 Limited 
---  ------------------------  ------------------------------------ 
 b)   LEI                       213800NZKFBQAMMLXC39 
---  ------------------------  ------------------------------------ 
 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            Ordinary shares (represented 
       the financial             by Chess Depositary interests) 
       instrument, type          of no par value in European 
       of instrument             Metals Holdings Limited 
 
       Identification            VGG3191T1021 
       code 
---  ------------------------  ------------------------------------ 
      Nature of the             Issue of 1,000,000 ordinary 
       transaction               shares pursuant to the Company's 
                                 Employee Share Securities 
                                 Plan at an issue price of 
                                 AUD0.4848 per ordinary share 
---  ------------------------  ------------------------------------ 
      Price(s) and                Price(s)              Volumes(s) 
       volumes(s)                 --------------------  ----------- 
                                        (i) AUD0.4848    1,000,000 
                                  --------------------  ----------- 
---  ------------------------  ------------------------------------ 
 d)   Aggregated information    n/a 
---  ------------------------  ------------------------------------ 
 e)   Date of the transaction   6 June 2018 
---  ------------------------  ------------------------------------ 
 f)   Place of the              Off market 
       transaction 
---  ------------------------  ------------------------------------ 
 
 
 1    Details of the person discharging managerial 
       responsibilities / person closely associated 
---  -------------------------------------------------------------- 
 a)   Name                      James Carter 
---  ------------------------  ------------------------------------ 
 2    Reason for notification 
---  -------------------------------------------------------------- 
 a)   Position / status         Chief Financial Officer 
---  ------------------------  ------------------------------------ 
 b)   Initial notification      Initial 
       /Amendment 
---  ------------------------  ------------------------------------ 
 3    Details of the issuer, emission allowance 
       market participant, auction platform, auctioneer 
       or auction monitor 
---  -------------------------------------------------------------- 
 a)   Name                      European Metals Holdings 
                                 Limited 
---  ------------------------  ------------------------------------ 
 b)   LEI                       213800NZKFBQAMMLXC39 
---  ------------------------  ------------------------------------ 
 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            Ordinary shares (represented 
       the financial             by Chess Depositary interests) 
       instrument, type          of no par value in European 
       of instrument             Metals Holdings Limited 
 
       Identification            VGG3191T1021 
       code 
---  ------------------------  ------------------------------------ 
      Nature of the             Issue of 400,000 ordinary 
       transaction               shares pursuant to the Company's 
                                 Employee Share Securities 
                                 Plan at an issue price of 
                                 AUD0.4848 per ordinary share 
---  ------------------------  ------------------------------------ 
      Price(s) and                Price(s)              Volumes(s) 
       volumes(s)                 --------------------  ----------- 
                                        (i) AUD0.4848    400,000 
                                  --------------------  ----------- 
---  ------------------------  ------------------------------------ 
 d)   Aggregated information    n/a 
---  ------------------------  ------------------------------------ 
 e)   Date of the transaction   6 June 2018 
---  ------------------------  ------------------------------------ 
 f)   Place of the              Off market 
       transaction 
---  ------------------------  ------------------------------------ 
 
 
 1    Details of the person discharging managerial 
       responsibilities / person closely associated 
---  -------------------------------------------------------------- 
 a)   Name                      Julia Beckett 
---  ------------------------  ------------------------------------ 
 2    Reason for notification 
---  -------------------------------------------------------------- 
 a)   Position / status         Company Secretary 
---  ------------------------  ------------------------------------ 
 b)   Initial notification      Initial 
       /Amendment 
---  ------------------------  ------------------------------------ 
 3    Details of the issuer, emission allowance 
       market participant, auction platform, auctioneer 
       or auction monitor 
---  -------------------------------------------------------------- 
 a)   Name                      European Metals Holdings 
                                 Limited 
---  ------------------------  ------------------------------------ 
 b)   LEI                       213800NZKFBQAMMLXC39 
---  ------------------------  ------------------------------------ 
 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            Ordinary shares (represented 
       the financial             by Chess Depositary interests)of 
       instrument, type          no par value in European 
       of instrument             Metals Holdings Limited 
 
       Identification            VGG3191T1021 
       code 
---  ------------------------  ------------------------------------ 
      Nature of the             Issue of 50,000 ordinary 
       transaction               shares pursuant to the Company's 
                                 Employee Share Securities 
                                 Plan at an issue price of 
                                 AUD0.4848 per ordinary share 
---  ------------------------  ------------------------------------ 
      Price(s) and                Price(s)              Volumes(s) 
       volumes(s)                 --------------------  ----------- 
                                        (i) AUD0.4848    50,000 
                                  --------------------  ----------- 
---  ------------------------  ------------------------------------ 
 d)   Aggregated information    n/a 
---  ------------------------  ------------------------------------ 
 e)   Date of the transaction   6 June 2018 
---  ------------------------  ------------------------------------ 
 f)   Place of the              Off market 
       transaction 
---  ------------------------  ------------------------------------ 
 

ENDS

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 or visit www.rns.com.

END

IOEEQLBBVQFBBBL

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June 06, 2018 02:00 ET (06:00 GMT)

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