Business
Equity Issue/Directors Shareholding/Total Voting
Equity Issue/Directors Shareholding/Total Voting.
About this update from European Metals Holdings Ltd
[{"type":"text","content":"\n \nRNS Number : 0384A European Metals Holdings Limited 21 December 2017 \n\nFor immediate release\n21 December 2017\nEUROPEAN METALS HOLDINGS LIMITED\nEquity Issue, Directors' Shareholding and Total Voting Rights \nEuropean 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\"). \n \nCadence 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. \n \nOn 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.\n \nAs previously announced, the Company has under the Plan awarded in aggregate 1,650,000 CDIs to the Directors on the following basis:\n \n\n\n\n\nDirector\n\n\nCDIs awarded under the Plan\n\n\n\n\nMr Keith Coughlan\n\n\n850,000 CDIs\n\n\n\n\nMr David Reeves\n\n\n300,000 CDIs\n\n\n\n\nMr Richard Pavlik\n\n\n300,000 CDIs\n\n\n\n\nMr Kiran Morzaria\n\n\n200,000 CDIs\n\n\n\n\n \nUnder 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. \nThe 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...