Beowulf Mining PLC Exercise of Options/PDMR Dealing (2050T)

TIDMBEM

RNS Number : 2050T

Beowulf Mining PLC

10 October 2017

The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations ("MAR") (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

For the purposes of MAR and Article 2 of Commission Implementing Regulation (EU) 2016/1055, this announcement is being made on behalf of Kurt Budge, Chief Executive Officer.

10 October 2017

Beowulf Mining plc

("Beowulf" or the "Company")

Exercise of Options/PDMR Dealing

Beowulf (AIM: BEM; AktieTorget: BEO), the mineral exploration and development company, focused on the Kallak magnetite iron ore project and the Åtvidaberg polymetallic exploration licence in Sweden, and its graphite portfolio in Finland, announces that it has received an exercise notice from Bevan Metcalf (Non-Executive Chairman), a person discharging managerial responsibilities ("PDMR"), over 8,500,000 new ordinary shares of 1p per share in the Company (the "Option Shares").

Of the Option Shares 8,000,000 were exercised at 1.66p and 500,000 were exercised at 4p for a total consideration of GBP152,800. Application has been made for the Option Shares to be admitted to trading on AIM and it is expected that admission will take place on 16th October 2017 ("Admission").

The Option Shares will rank pari passu with the existing ordinary shares of the Company. Following Admission of the Option Shares, the Company's enlarged issued share capital will comprise 534,207,254 ordinary shares with voting rights. This figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the Financial Conduct Authority's Disclosure and Transparency Rules.

The notification below, made in accordance with the requirements of the EU Market Abuse Regulation, provides additional detail.

Enquiries:

Beowulf Mining plc

   Kurt Budge, Chief Executive Officer                           Tel: [phone] 

Cantor Fitzgerald Europe

(Nominated Advisor & Broker)

David Porter Tel: [phone]

Blytheweigh

   Tim Blythe/Megan Ray                                                Tel: [phone] 
 
 1    Details of the person discharging managerial 
       responsibilities / person closely associated 
---  --------------------------------------------------------- 
 a)   Name                       Bevan Metcalf 
---  -------------------------  ------------------------------ 
 2    Reason for the notification 
---  --------------------------------------------------------- 
 a)   Position/status            PDMR - Non-executive Chairman 
---  -------------------------  ------------------------------ 
 b)   Initial notification       Initial Notification 
       /Amendment 
---  -------------------------  ------------------------------ 
 3    Details of the issuer, emission allowance 
       market participant, auction platform, auctioneer 
       or auction monitor 
---  --------------------------------------------------------- 
 a)   Name                       Beowulf Mining plc 
---  -------------------------  ------------------------------ 
 b)   LEI                        213800MV3XGAOASPT433 
---  -------------------------  ------------------------------ 
 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               Ordinary shares of 1p each 
       instrument, type 
       of instrument               GB0033163287 
 
       Identification 
       code 
---  -------------------------  ------------------------------ 
 b)   Nature of the              Exercise of options. 
       transaction 
---  -------------------------  ------------------------------ 
 c)   Price(s) and volume(s)      Price(s)   Volume(s) 
                                  ---------  ---------- 
                                   1.66p      8,000,000 
                                  ---------  ---------- 
                                   4p         500,000 
                                  ---------  ---------- 
---  -------------------------  ------------------------------ 
 d)   Aggregated information 
 
       - Aggregated volume 
                                   Not applicable 
       - Price 
---  -------------------------  ------------------------------ 
 e)   Date of the transaction    10 October 2017 
---  -------------------------  ------------------------------ 
 f)   Place of the transaction   Off market 
---  -------------------------  ------------------------------ 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

MSCMMBMTMBTBBJR

(END) Dow Jones Newswires

October 10, 2017 06:40 ET (10:40 GMT)