TIDMEMH
RNS Number : 0384A
European Metals Holdings Limited
21 December 2017
For immediate release
21 December 2017
EUROPEAN METALS HOLDINGS LIMITED
Equity Issue, Directors' Shareholding and Total Voting
Rights
European Metals Holdings Limited ("European Metals" or the
"Company") (ASX and AIM: EMH), announces that that it has today
issued 6,517,142 new ordinary shares (represented by Chess
Depositary interests or "CDIs") in the Company at a price of 35p
per CDI further to the subscription as announced on 29 November
2017 ("Subscription Shares").
Cadence Minerals Plc subscribed for a total of 985,714
Subscription Shares. Following participation in this subscription,
Cadence Minerals Plc is now interested in a total of 27,846,470
CDIs representing 19.9% of the enlarged issued share capital of the
Company.
On 14 December 2017 the Company has also issued 1,650,000 new
ordinary shares (represented by Chess Depositary interests or
"CDIs") in the Company following approval of the Employee
Securities Incentive Plan ("Plan") and issue of Plan CDIs to
Directors at the Annual General Meeting of the Company held on 30
November 2017.
As previously announced, the Company has under the Plan awarded
in aggregate 1,650,000 CDIs to the Directors on the following
basis:
Director CDIs awarded under
the Plan
------------------ -------------------
Mr Keith Coughlan 850,000 CDIs
Mr David Reeves 300,000 CDIs
Mr Richard Pavlik 300,000 CDIs
Mr Kiran Morzaria 200,000 CDIs
------------------ -------------------
Under the Plan the Director Plan CDIs have been issued at an
issue price of AU$0.725 per new CDI (equivalent to 41p per new
CDI), being the volume weighted average price of Shares traded on
the ASX over the 5 trading days immediately preceding the issue of
the Director Plan CDIs.
The subscription amount due to the Company in respect of the new
Director Plan CDIs will be accounted for by a limited-recourse
interest-free loan provided by the Company to the Director pursuant
to the Plan. There is therefore no cash impact on the Company. As
and when a Director sells his Director Plan CDIs, 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 the Director. The proceeds from a sale by a Director
of all of his Plan CDIs, even if less than his respective loan,
will settle his loan in full under the Plan.
Under the terms of the Plan, the Director 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 relevant Director has completed
12 months' service with the Company from the date of issue.
Application is being made for the new ordinary shares
represented by the Subscription Shares and the Plan CDIs, in
aggregate amounting to 8,167,142 ordinary shares, to be admitted to
trading on AIM, with admission expected to take place on or around
22 December 2017. 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 139,964,727. 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 6141 3504
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 Keith Coughlan
--- ------------------------ ----------------------------------
2 Reason for notification
--- ------------------------------------------------------------
a) Position / status Director
--- ------------------------ ----------------------------------
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 850,000 ordinary
transaction shares pursuant to the Company's
Employee Share Securities
Plan at an issue price of
GBP0.41 per ordinary share
--- ------------------------ ----------------------------------
Price(s) and Price(s) Volumes(s)
volumes(s) ------------------ -----------
(i) GBP0.41 850,000
------------------ -----------
--- ------------------------ ----------------------------------
d) Aggregated information n/a
--- ------------------------ ----------------------------------
e) Date of the transaction 14 December 2017
--- ------------------------ ----------------------------------
f) Place of the Off market
transaction
--- ------------------------ ----------------------------------
1 Details of the person discharging managerial
responsibilities / person closely associated
--- ------------------------------------------------------------
a) Name David Reeves
--- ------------------------ ----------------------------------
2 Reason for notification
--- ------------------------------------------------------------
a) Position / status Director
--- ------------------------ ----------------------------------
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 300,000 ordinary
transaction shares pursuant to the Company's
Employee Share Securities
Plan at an issue price of
GBP0.41 per ordinary share
--- ------------------------ ----------------------------------
Price(s) and Price(s) Volumes(s)
volumes(s) ------------------ -----------
(i) GBP0.41 300,000
------------------ -----------
--- ------------------------ ----------------------------------
d) Aggregated information n/a
--- ------------------------ ----------------------------------
e) Date of the transaction 14 December 2017
--- ------------------------ ----------------------------------
f) Place of the Off market
transaction
--- ------------------------ ----------------------------------
1 Details of the person discharging managerial
responsibilities / person closely associated
--- ------------------------------------------------------------
a) Name Richard Pavlik
--- ------------------------ ----------------------------------
2 Reason for notification
--- ------------------------------------------------------------
a) Position / status Director
--- ------------------------ ----------------------------------
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 300,000 ordinary
transaction shares pursuant to the Company's
Employee Share Securities
Plan at an issue price of
GBP0.41 per ordinary share
--- ------------------------ ----------------------------------
Price(s) and Price(s) Volumes(s)
volumes(s) ------------------ -----------
(i) GBP0.41 300,000
------------------ -----------
--- ------------------------ ----------------------------------
d) Aggregated information n/a
--- ------------------------ ----------------------------------
e) Date of the transaction 14 December 2017
--- ------------------------ ----------------------------------
f) Place of the Off market
transaction
--- ------------------------ ----------------------------------
1 Details of the person discharging managerial
responsibilities / person closely associated
--- -----------------------------------------------------------------
a) Name Kiran Morzaria
--- ------------------------ ---------------------------------------
2 Reason for notification
--- -----------------------------------------------------------------
a) Position / status Director
--- ------------------------ ---------------------------------------
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 1. Issue of 200,000 ordinary
transaction shares pursuant to the Company's
Employee Share Securities
Plan at an issue price of
GBP0.41 per ordinary share.
2. Issue of 985,714 ordinary
shares pursuant to the Placement
to sophisticated investors
as announced on 30 November
2017.
--- ------------------------ ---------------------------------------
Price(s) and Price(s) Volumes(s)
volumes(s) -------------------- -----------
(i) GBP0.41* 200,000
-------------------- -----------
(ii) GBP0.35* 985,714
-------------------- -----------
--- ------------------------ ---------------------------------------
d) Aggregated information n/a
--- ------------------------ ---------------------------------------
e) Date of the transaction 1. 14 December 2017
2. 20 December 2017
--- ------------------------ ---------------------------------------
f) Place of the Off market
transaction
--- ------------------------ ---------------------------------------
ENDS
This information is provided by RNS
The company news service from the London Stock Exchange
END
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