Future Metals NL — Director's Dealing 2023

Nov 22, 2023

National Storage Mechanism | Additional information

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 Metals' shares trading on the ASX exceeds 10 cents	5,000,000
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 strategic partner for Panton (at asset or Company level); or a >10% individual cornerstone shareholder in the Company	2,500,000
Completion of a Scoping Study that supports a Board decision to proceed with a pre-feasibility study or definitive feasibility study	2,500,000
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.

Future Metals NL	+61 8 9480 0414
Jardee Kininmonth	[email protected]
Strand Hanson Limited (Nominated Adviser)	+44 (0) 207 409 3494
James Harris/James Bellman
Panmure Gordon (UK) Limited (UK Broker) John Prior/Hugh Rich/Rauf Munir	+44 (0)207 886 2500
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

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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