13 July 2023
2022 Directors Fees and Employee Incentive Payments
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 director's fees. The Chairman and Directors have elected to receive these fees in the form of shares in the Company for the period 1 January 2022 to 31 December 2022 in lieu of cash.
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 as released on 27 April 2023, 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. The share price used based on the above formula was 1.08 pence per share following the release of the Company's Annual Accounts.
The award of shares in the Company to directors for director's fees for the 2022 year is set out below.
Tony Manini 2,564,630 shares
Dominic Heaton 2,564,630 shares
Faldi Ismail 2,564,630 shares
Peter Pollard 2,564,630 shares
Bruce Sheng 2,564,630 shares
Eva Armila 2,564,630 shares
In addition to the abovementioned share issue, a further 20,738,204 performance rights in the form of shares in the Company will be awarded to certain employees, in lieu of cash, for their contribution to the Company during 2022 and as a long-term incentive. This includes an amount of 3,500,512 shares allocated to Tony Manini for his role as Executive Chairman, an amount of 6,775,484 shares allocated to Darryn McClelland for his services as Chief Executive Officer for the period.
Following the issue of the above shares, the shareholdings of the directors (including direct and indirect holdings) will be as follows:
| Director | Holding of Common Shares | Percentage of Share Capital Following Admission |
| Tony Manini | 57,899,138 | 2.60% |
| Peter Pollard | 7,933,400 | 0.36% |
| Faldi Ismail | 20,677,021 | 0.93% |
| Dominic Heaton | 12,874,330 | 0.58% |
| Bruce Sheng | 125,713,633 | 5.65% |
| Eva Armila | 3,918,043 | 0.18% |
Application has been made for the 36,125,985 shares ("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 20 July 2023. 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 2,187,064,944 to 2,223,190,929 shares. 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
Darryn McClelland, Chief Executive Officer
For further information, please contact:
-Ends-
Darryn McClelland
Chief Executive Officer, Asiamet Resources Limited
Email: darryn.mcclelland@asiametresources.com
Tony Manini
Executive Chairman, Asiamet Resources Limited
Email: tony.manini@asiametresources.com
Investor Enquiries
Sasha Sethi
Telephone: +44 (0) 7891 677 441
Email: Sasha@flowcomms.com / info@asiametresources.com
Asiamet Resources Nominated Adviser
RFC Ambrian Limited
Andrew Thomson / Stephen Allen
Telephone: +61 8 9480 2500
Email: Andrew.Thomson@rfcambrian.com / Stephen.Allen@rfcambrian.com
Optiva Securities Limited
Christian Dennis
Telephone: +44 20 3137 1903
Email: Christian.Dennis@optivasecurities.com
Follow us on twitter @AsiametTweets
This announcement contains inside information as stipulated under the Market Abuse Regulations (EU) no. 596/2014 ("MAR").
FORWARD-LOOKING STATEMENT
This news release 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.
PDMR Notification Forms
The notifications below are made in accordance with the requirements of MAR.
| 1. | Details of the person discharging managerial responsibilities / person closely associated | |||||
| a. | Name | Tony Manini | ||||
| 2. | Reason for the notification | |||||
| a. | Position/status | Director & Executive Chairman | ||||
| 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 code | Common Shares of US$0.01 each BM04521V1038 | ||||
| b. | Nature of the transaction | Issuance of common shares | ||||
| c. | Price(s) and volume(s) |
| ||||
| d. | Aggregated information · Aggregated volume · Price |
n/a single transaction | ||||
| e. | Date of the transaction | 20 July 2023 | ||||
| f. | Place of the transaction | London Stock Exchange | ||||
| 1. | Details of the person discharging managerial responsibilities / person closely associated | |||||
| a. | Name | Dominic Heaton | ||||
| 2. | Reason for the notification | |||||
| a. | Position/status | 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 code | Common Shares of US$0.01 each BM04521V1038 | ||||
| b. | Nature of the transaction | Issuance of common shares | ||||
| c. | Price(s) and volume(s) |
| ||||
| d. | Aggregated information · Aggregated volume · Price |
n/a single transaction | ||||
| e. | Date of the transaction | 20 July 2023 | ||||
| f. | Place of the transaction | London Stock Exchange | ||||
| 1. | Details of the person discharging managerial responsibilities / person closely associated | |||||
| a. | Name | Faldi Ismail | ||||
| 2. | Reason for the notification | |||||
| a. | Position/status | 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 code | Common Shares of US$0.01 each BM04521V1038 | ||||
| b. | Nature of the transaction | Issuance of common shares | ||||
| c. | Price(s) and volume(s) |
| ||||
| d. | Aggregated information · Aggregated volume · Price |
n/a single transaction | ||||
| e. | Date of the transaction | 20 July 2023 | ||||
| f. | Place of the transaction | London Stock Exchange | ||||
| 1. | Details of the person discharging managerial responsibilities / person closely associated | |||||
| a. | Name | Peter Pollard | ||||
| 2. | Reason for the notification | |||||
| a. | Position/status | 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 code | Common Shares of US$0.01 each BM04521V1038 | ||||
| b. | Nature of the transaction | Issuance of common shares | ||||
| c. | Price(s) and volume(s) |
| ||||
| d. | Aggregated information · Aggregated volume · Price |
n/a single transaction | ||||
| e. | Date of the transaction | 20 July 2023 | ||||
| f. | Place of the transaction | London Stock Exchange | ||||
| 1. | Details of the person discharging managerial responsibilities / person closely associated | |||||
| a. | Name | Bruce Sheng | ||||
| 2. | Reason for the notification | |||||
| a. | Position/status | 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 code | Common Shares of US$0.01 each BM04521V1038 | ||||
| b. | Nature of the transaction | Issuance of common shares | ||||
| c. | Price(s) and volume(s) |
| ||||
| d. | Aggregated information · Aggregated volume · Price |
n/a single transaction | ||||
| e. | Date of the transaction | 20 July 2023 | ||||
| f. | Place of the transaction | London Stock Exchange | ||||
| 1. | Details of the person discharging managerial responsibilities / person closely associated | |||||
| a. | Name | Eva Armila | ||||
| 2. | Reason for the notification | |||||
| a. | Position/status | 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 code | Common Shares of US$0.01 each BM04521V1038 | ||||
| b. | Nature of the transaction | Issuance of common shares | ||||
| c. | Price(s) and volume(s) |
| ||||
| d. | Aggregated information · Aggregated volume · Price |
n/a single transaction | ||||
| e. | Date of the transaction | 20 July 2023 | ||||
| f. | Place of the transaction | London Stock Exchange | ||||
| 1. | Details of the person discharging managerial responsibilities / person closely associated | |||||
| a. | Name | Darryn McClelland | ||||
| 2. | Reason for the notification | |||||
| a. | Position/status | Chief Executive Officer | ||||
| 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 code | Common Shares of US$0.01 each BM04521V1038 | ||||
| b. | Nature of the transaction | Issuance of common shares | ||||
| c. | Price(s) and volume(s) |
| ||||
| d. | Aggregated information · Aggregated volume · Price |
n/a single transaction | ||||
| e. | Date of the transaction | 20 July 2023 | ||||
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