Director’s Fees and Employee Incentive Payments

17 December 2024

Asiamet Resources Limited

("Asiamet" or the "Company")

2023 Director's Fees and Employee Incentive Payments

Asiamet Resources Limited ("ARS" or the "Company") announces that, the Non-Executive Directors ("Directors"), and the Executive Chairman of the Company have opted to receive the fees due to them under their respective employment contracts for the period from 1 January 2022 to 31 December 2023, in the form of new common shares of US$0.01 each in the Company ("Common Shares") in lieu of cash (" Fee Shares"), using the pricing mechanism as set out in their respective contracts as set out below.

The issue price used for the calculation is a 10-day volume weighted average price ("VWAP") of the Company's Common Shares over the 10 trading days immediately following publication of the Company's Annual Accounts as released on 9 May 2024. The issue price has therefore been calculated at 1.35 pence per new Common Share (the "Issue Price").

The award of New Common Shares in the Company to directors for director's fees for the 2023 year is set out below:

Tony Manini               2,330,296 new Common Shares

Dominic Heaton        2,380,593 new Common Shares

Bruce Sheng               2,039,037 new Common Shares

Eva Armila                  2,089,259 new Common Shares

Peter Chambers          452,519 new Common Shares

Matthew Doube         564,222 new Common Shares

In addition to the abovementioned share issuance, the Company will award a further 9,345,662 performance rights in the form of new Common Shares in Asiamet, at an issue price of 1.35p per Common Share ("Performance Rights Shares") to certain employees, in lieu of cash, for their contribution to the Company during 2023 and as a long-term incentive. This includes 1,424,373 new Common Shares allocated to Tony Manini for his role as Executive Chairman during the period, and 6,700,011 new Common Shares to Darryn McClelland under his Short-Term Incentive arrangement and 1,221,278 to non-Board Asiamet employees.  

A further 3,824,222 new Common Shares in the Company will be issued to certain former employees.

Following the issue of the above new Common Shares, the shareholdings of the directors (including direct and indirect holdings) and other PDMR will be as follows:

Application and Total Voting Rights

Application has been made for the 23,025,810 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 December 2024. 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 2,953,442,174 to 2,976,467,984 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.

The following notification has been made in accordance with the requirements of the EU Market Abuse Regulation as part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018, as amended.

Notification of Transactions of Persons Discharging Managerial Responsibility and Persons Closely Associated with them.

ON BEHALF OF THE BOARD OF DIRECTORS

Darryn McClelland, Chief Executive Officer

-Ends-

For further information, please contact:

Darryn McClelland
Chief Executive Officer, Asiamet Resources Limited
Email: [email protected]

Tony Manini
Chairman, Asiamet Resources Limited
Email: [email protected]

Investor Enquiries

Sasha Sethi

Telephone: +44 (0) 7891 677 441

Email: [email protected] / [email protected]

Nominated & Financial Adviser
Strand Hanson Limited

James Spinney / James Dance / Rob Patrick

Telephone: +44 20 7409 3494

Email: [email protected]

Broker

Optiva Securities Limited
Christian Dennis

Telephone: +44 20 3137 1903

Email: [email protected]

Follow us on twitter @AsiametTweets

FORWARD-LOOKING STATEMENT

This announcement 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.