REG - Future Metals NL - Grant of Director Performance Rights

Future Metals NLAnnouncement

22/11/2023 07:15

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RNS Number : 1793U  Future Metals NL  22 November 2023

22 November 2023

Future Metals NL

 

Grant of Director Performance Rights

 

 

Further to the approval of Resolution 7 at its recent Annual General Meeting
("AGM"), Future Metals NL ("Future Metals" or the "Company", ASX | AIM: FME)
announces that on 21 November 2023 it issued 20,000,000 Performance Rights to
Mr Patrick Walta, Executive Chair of the Company, on the terms and conditions
set out in the Explanatory Statement accompanying the Notice of AGM.

 

Under the Company's Performance Rights Plan, the 20,000,000 Performance Rights
are exercisable for nil consideration up to and including 21 November 2026 and
are subject to the vesting criteria outlined in the table below:

 

 Performance Criteria                                                            No. of Performance Rights
 Volume weighted average share price over 5-days ("5-day VWAP") of Future        5,000,000
 Metals' shares trading on the ASX exceeds 10 cents

 5-day VWAP of Future Metals' shares trading on the ASX exceeds 20 cents         5,000,000

 12 months of continuous employment from the date of 20 November 2023            2,500,000
 24 months of continuous employment from the date of 20 November 2023            2,500,000

 Obtaining >20% institutional ownership of Future Metals shares; or a            2,500,000
 strategic partner for Panton (at asset or Company level); or a >10%
 individual cornerstone shareholder in the Company

 Completion of a Scoping Study that supports a Board decision to proceed with a  2,500,000
 pre-feasibility study or definitive feasibility study

 Total                                                                           20,000,000

 

 

Further details are provided in the below PDMR Notification Form, announced in
accordance with Article 19 of the Market Abuse Regulation (EU) 596/2014 as it
forms part of United Kingdom domestic law by virtue of the European Union
(Withdrawal) Act 2018, as amended.

 

This announcement has been approved for release by the Board of Future Metals
NL.

 

 

Further Information

For further information please refer to the ASX platform under ASX code FME or
visit the Company's website at www.future-metals.com.au
(http://www.future-metals.com.au) .

 

 Future Metals NL                           +61 8 9480 0414
 Jardee Kininmonth                          info@future-metals.com.au (mailto:info@future-metals.com.au)
 Strand Hanson Limited (Nominated Adviser)  +44 (0) 207 409 3494
 James Harris/James Bellman
 Panmure Gordon (UK) Limited (UK Broker)    +44 (0)207 886 2500

 John Prior/Hugh Rich/Rauf Munir
 FlowComms (UK IR/PR)                       +44 (0) 789 167 7441
 Sasha Sethi

 

 

PDMR Notification Form:

 

The notification below is made in accordance with the requirements of MAR.

 

 1.  Details of the person discharging managerial responsibilities / person closely
     associated
 a)  Name                                                         Patrick Walta
 2.  Reason for the Notification
 a)  Position/status                                              Executive Chair
 b)  Initial notification/amendment                               Initial notification
 3.  Details of the issuer, emission allowance market participant, auction
     platform, auctioneer or auction monitor
 a)  Name                                                         Future Metals NL
 b)  LEI                                                          213800WZ1MNQPOAKNU50
 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  Performance Rights over ordinary shares of no par value in the capital of the
                                                                  Company
     Identification code                                          AU0000157745
 b)  Nature of the Transaction                                    Grant of Performance Rights over ordinary shares of no par value in the
                                                                  capital of the Company
 c)  Price(s) and volume(s)                                       Price(s)  Volume(s)
                                                                  Nil       20,000,000
 d)  Aggregated information                                       N/A (Single transaction)

     Aggregated volume Price
 e)  Date of the transaction                                      21 November 2023
 f)  Place of the transaction                                     Outside of a trading venue

d)

Aggregated information

Aggregated volume Price

N/A (Single transaction)

e)

Date of the transaction

21 November 2023

f)

Place of the transaction

Outside of a trading venue

 

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