In a significant move, Europa Metals Ltd, the Australian-incorporated and South Africa-registered company, has announced the issuance of 3.5 million new Ordinary Shares in a transaction involving two of its directors. The issuance follows the successful conversion of performance rights, with the corresponding performance milestones achieved earlier in the year.
Performance Milestones Met
The company revealed that the conditions for the performance rights conversion were met during the course of the year, as detailed in the Regulatory News Service (RNS) announcement on 24 January 2023. As a result, 3.5 million new Ordinary Shares, referred to as “Conversion Shares,” are being issued in aggregate to the two directors.
Admission to Trading
Europa Metals Ltd has applied for the admission of these 3.5 million Conversion Shares to trading on AIM and for quotation on AltX, with expectations that the admission will be effective by 8:00 a.m. on Friday, 15 December 2023, on AIM and Monday, 18 December 2023, on the JSE.
Here are the key details for the admission:
Exchange | Admission Date | Commencement of Dealings |
---|---|---|
AIM | 15 December 2023 (Friday) | 8:00 a.m. |
JSE (AltX) | 18 December 2023 (Monday) | To be determined |
Impact on Share Capital
Post-admission, Europa Metals Ltd’s total issued ordinary share capital will stand at 97,671,790 Ordinary Shares with voting rights. Shareholders can use this figure for calculations related to notifications of interest or changes in share capital.
Director Shareholdings Post-Issuance
Following the admission, the beneficial shareholdings of the directors receiving Conversion Shares will be as follows:
Director | Position | Conversion Shares to be Received | Total Ordinary Shares Held on Admission | % of Voting Rights Held on Admission |
---|---|---|---|---|
Myles Campion | Executive Chairman and acting CEO | 3,000,000 | 5,108,182 | 5.23 |
Daniel Smith | Non-Executive Director | 500,000 | 500,000 | 0.51 |
PDMR Notification Forms
In accordance with the Market Abuse Regulation (MAR), notifications have been made, and the details of the persons discharging managerial responsibilities (PDMRs) are provided. Here are the key details for Myles Campion and Daniel Smith:
1. Myles Campion
2. Daniel Smith
Conclusion
The issuance of 3.5 million new Ordinary Shares marks a strategic move for Europa Metals Ltd, aligning with the achievement of performance milestones. As the company anticipates admission to trading on AIM and AltX, shareholders and investors will be closely watching the impact on share capital and the subsequent changes in voting rights among the company’s leadership. The move reflects the company’s commitment to rewarding performance and aligning interests with key executives.
This website uses cookies.