Result of AGM-METALS EXPLORATION PLC

Result of AGM-METALS EXPLORATION PLC

Result of AGM

Management Incentive Plan Share Awards and TVR

Metals Exploration plc (AIM: MTL) ("Metals Exploration" or the "Company"), a gold producer in the Philippines, announces that at the Annual General Meeting of the Company held earlier today (the "AGM"), all resolutions put to shareholders were duly passed on a poll.

The votes cast on each resolution are shown in Appendix I of this announcement and the full text of the resolutions can be found in the Notice of the General Meeting contained in the Circular to shareholders on the Company's website at https://www.metalsexploration.com/investors.

Issue of Incentive Shares under the Management Incentive Plan

Further to the passing of Resolutions 7 and 8 at the AGM, the Company has issued a total of 7,147,850 new Ordinary Shares (the "Incentive Shares") to members of the senior management team, in accordance with the 2022 Management Incentive Plan, as set out in the Circular. Details of the awards to PDMRs are set out below, with further information being contained in Appendix II:

PDMR

Number of new Ordinary Shares issued under MIP

Number of Ordinary Shares held post-award

% of issued share capital

Mike Langoulant, CFO

 

2,697,296

6,259,284

0.29

The 6,252,836 new Ordinary Shares proposed to be issued to Darren Bowden under the 2022 Management Incentive Plan, as set out in the Circular, are expected to be issued in due course.

Admission of the Incentive Shares and Total Voting Rights

Application has been made to the London Stock Exchange plc for the admission of 7,147,850 Incentive Shares to trading on AIM ("Admission"), which is expected to take place at 8.00 a.m. on or around 23 June 2023.  

Following Admission, the Company will have 2,095,944,721 Ordinary Shares in issue. The Company does not currently hold any shares in treasury. As from 23 June 2023 this figure may be used by shareholders in the Company as the denominator for the calculation by which they may determine if they are required to notify their interest in, or change to their interest in, the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.

Unless otherwise defined, capitalised terms in this announcement have the same meanings as in the circular sent to shareholders dated 22 May 2023.

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