Last checked at 5 Jun 2020 15:38
5 June 2020
Arc Minerals Ltd
('Arc' or the 'Company')
Grant of Options
Arc Minerals Limited announces the grant of options to certain Directors and PDMRs ("Persons Discharging Managerial Responsibilities") over a total of 41,000,000 new ordinary shares of no par value ("Ordinary Shares") of the Company ("Share Options") with an exercise price of 3 pence per Ordinary Share, which represents an approximate 35% premium over the closing mid-market price of 2.23p on 4 June 2020. The Share Options will expire on 5 June 2023.
Details of the Share Options granted to Directors are as follows:
Director | Number of Options granted 5 June 2020 | Total Options currently outstanding |
Nicholas von Schirnding | 14,000,000 | 29,620,195 |
Rémy Welschinger | 11,000,000 | 15,580,000 |
Brian McMaster | 2,000,000 | 4,375,000 |
Mumena Mushinge | 2,000,000 | 2,800,000 |
29,000,000 | 52,375,195 |
Details of the Share Options granted to Senior Management are as follows:
PDMR | Number of Options granted 5 June 2020 | Total Options currently outstanding |
Vassilios Carellas | 9,000,000 | 22,738,849 |
Ian Lynch | 3,000,000 | 3,973,334 |
12,000,000 | 26,712,183 |
Following the grant of the Share Options there will be a total of 93,026,115 share options over unissued Ordinary Shares granted to directors, senior management and consultants of the Company, representing approximately 9.52% of the Company's current issued Ordinary Share capital of 976,890,274 Ordinary Shares.
Further details concerning the grant of Share Options to PDMRs are set out below.
Market Abuse Regulation (MAR) Disclosure
Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.
NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM:
1. | Details of the person discharging managerial responsibilities/person closely associated | |||||||||||||||||||||||||||||||
a) | Name: | (i) Nicholas von Schirnding (ii) Rémy Welschinger (iii) Brian McMaster (iv) Mumena Mushinge (v) Vassilios Carellas (vi) Ian Lynch | ||||||||||||||||||||||||||||||
2. | Reason for the notification | |||||||||||||||||||||||||||||||
a) | Position/status: | (i) Executive Chairman (ii) Finance Director (iii) Non-Executive Director (iv) Non-Executive Director (v) Chief Operating Officer (non-board) (vi) Person Discharging Managerial Responsibility (non-board) | ||||||||||||||||||||||||||||||
b) | Initial notification/Amendment: | Initial notification | ||||||||||||||||||||||||||||||
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||||||||||||||||||||||||||
a) | Name: | Arc Minerals Limited | ||||||||||||||||||||||||||||||
b) | LEI: | 213800XHFJVCC9GP2G75 | ||||||||||||||||||||||||||||||
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:
Identification code:
| Ordinary shares of no par value
VGG045791016 | ||||||||||||||||||||||||||||||
b) | Nature of the transaction: | Grant of options over ordinary shares | ||||||||||||||||||||||||||||||
c) | Price(s) and volume(s): |
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d) | Aggregated information: Aggregated volume: Price: | Single transactions as in 4 c) above
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e) | Date of the transaction: | 2020-06-05 | ||||||||||||||||||||||||||||||
f) | Place of the transaction: | Outside a trading venue | ||||||||||||||||||||||||||||||
**ENDS**
Contacts
Arc Minerals Ltd Nick von Schirnding (Chairman)
| +44 (0) 20 7917 2942
|
SP Angel (Nominated Adviser & Broker) Ewan Leggat / Soltan Tagiev
| +44 (0) 20 3470 0470
|
Notes to the Editors
Arc Minerals is an AIM listed exploration and mine development company focused on a diversified portfolio of mining projects with interests in Slovakia, Eritrea, the Democratic Republic of the Congo and Zambia.
Arc Minerals current holdings include:
● A 66% equity interest in Zamsort Limited ("Zamsort"), a private company focused on a prospective copper licence in the Zambia Copperbelt.
● A 72.5% equity interest in Zaco Investments Limited ("Zaco"), a private company focused on a prospective copper and cobalt licence adjacent to Zamsort.
For more information visit www.arcminerals.com