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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Arc Minerals Limited | LSE:ARCM | London | Ordinary Share | VGG045791016 | ORDS NPV (DI) |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| -0.105 | -6.27% | 1.57 | 1.65 | 1.70 | 1.675 | 1.65 | 1.675 | 4,758,961 | 16:35:14 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Investors, Nec | 0 | -7.34M | -0.0060 | -2.78 | 20.58M |
From Apr 2019 to Apr 2024
TIDMOTC
RNS Number : 4035A
Ortac Resources Limited
24 March 2017
24 March 2017
Ortac Resources Ltd
("Ortac" or the "Company")
GRANT OF SHARE OPTIONS
Ortac Resources Ltd, the AIM listed mineral exploration company operating in Europe and Africa, the Directors have today approved a grant of share options over 3,500,000 new ordinary shares of no par value of the Company ("Ordinary Shares") to certain Directors and senior managers (the "Options").
The Options have an exercise price of 4 pence per Ordinary Share, representing a c. 27% premium to the closing market price Ordinary Shares on 22 March 2017. The Options expire on 23 March 2022.
Details of the Options granted to the following Directors and persons who discharge managerial responsibilities ("PDMRs") today are set out below:
Hot Features
Premium
Name Title Number of Number of
new Options Ordinary
granted Shares subject
to Option
following
the grant
of new Options
--------------------- -------------------- -------------- ----------------
Anthony Balme Executive Chairman 700,000 1,460,000
--------------------- -------------------- -------------- ----------------
Chief Executive
Vassilios Carellas Officer 700,000 1,800,000
--------------------- -------------------- -------------- ----------------
Non-executive
Nick Von Schirnding Director 1,400,000 1,400,000
--------------------- -------------------- -------------- ----------------
Chuck Forrest Interim CFO 700,000 700,000
--------------------- -------------------- -------------- ----------------
Total 3,500,000 5,360,000
------------------------------------------- -------------- ----------------
Following the above grant, there are a total of 5,710,000 incentive share options granted over unissued Ordinary Shares granted to Directors and PDMRs, representing 6.95% of the Company's current issued Ordinary Share capital of 82,135,078 Ordinary Shares.
Anthony Balme, Vassilios Carellas and Nick von Schirnding are all directors of the Company and are therefore regarded as related parties as defined by the AIM Rules for Companies (the "AIM Rules"). The grant of Options as described above is a related party transaction for the purposes of Rule 13 of the AIM Rules. Mr Paul Heber, being the only independent director, considers, having consulted with the Company's Nominated Adviser, SP Angel Corporate Finance LLP, that the terms of the related party transaction are fair and reasonable insofar as the shareholders of the Company are concerned.
Further details concerning the grant of share options to PDMRs are set out below:
1. Details of the person discharging managerial
responsibilities/person closely associated
----- ---------------------------------------------------------------------------
(a) Full name of person Dealing Anthony Balme
----- -------------------------------- -----------------------------------------
2. Reason for notification
----- ---------------------------------------------------------------------------
(a) Position/status Executive Chairman
----- -------------------------------- -----------------------------------------
(b) Initial notification/ Amendment Initial notification
----- -------------------------------- -----------------------------------------
3. Details of the issuer, emission allowance
market participant, auction platform, auctioneer
or auction monitor
----- ---------------------------------------------------------------------------
(a) Name of entity Ortac Resources
Inc
----- -------------------------------- -----------------------------------------
(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 Share options over
instrument, type of instrument ordinary shares
of no par value
----- -------------------------------- -----------------------------------------
(b) Identification code VGG6829M1005
----- -------------------------------- -----------------------------------------
(c) Nature of the transaction Grant of options
over ordinary shares
----- -------------------------------- -----------------------------------------
(d) Price(s) and volume(s) Prices(s) Volume(s)
----------- ----------
4 pence 700,000
----------- ----------
----- -------------------------------- -----------------------------------------
(e) Aggregated information: Single transaction
- Aggregated volume as in 4(d) above Prices(s) Volume(s)
- Price ----------- ----------
4 pence 700,000
----------- ----------
----- -------------------------------- -----------------------------------------
(f) Date of transaction 23 March 2017
16:00 hrs UTC
----- -------------------------------- -----------------------------------------
(g) Place of transaction Outside a trading
venue
----- -------------------------------- -----------------------------------------
1. Details of the person discharging managerial
responsibilities/person closely associated
----- ---------------------------------------------------------------------------
(a) Full name of person Dealing Vassilios Carellas
----- -------------------------------- -----------------------------------------
2. Reason for notification
----- ---------------------------------------------------------------------------
(a) Position/status CEO
----- -------------------------------- -----------------------------------------
(b) Initial notification/ Amendment Initial notification
----- -------------------------------- -----------------------------------------
3. Details of the issuer, emission allowance
market participant, auction platform, auctioneer
or auction monitor
----- ---------------------------------------------------------------------------
(a) Name of entity Ortac Resources
Inc
----- -------------------------------- -----------------------------------------
(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 Share options over
instrument, type of instrument ordinary shares
of no par value
----- -------------------------------- -----------------------------------------
(b) Identification code VGG6829M1005
----- -------------------------------- -----------------------------------------
(c) Nature of the transaction Grant of options
over ordinary shares
----- -------------------------------- -----------------------------------------
(d) Price(s) and volume(s) Prices(s) Volume(s)
----------- ----------
4 pence 700,000
----------- ----------
----- -------------------------------- -----------------------------------------
(e) Aggregated information: Single transaction
- Aggregated volume as in 4(d) above Prices(s) Volume(s)
- Price ----------- ----------
4 pence 700,000
----------- ----------
----- -------------------------------- -----------------------------------------
(f) Date of transaction 23 March 2017
16:00 hrs UTC
----- -------------------------------- -----------------------------------------
(g) Place of transaction Outside a trading
venue
----- -------------------------------- -----------------------------------------
1. Details of the person discharging managerial
responsibilities/person closely associated
----- ---------------------------------------------------------------------------
(a) Full name of person Dealing Nick von Schirnding
----- -------------------------------- -----------------------------------------
2. Reason for notification
----- ---------------------------------------------------------------------------
(a) Position/status Non-executive Director
----- -------------------------------- -----------------------------------------
(b) Initial notification/ Amendment Initial notification
----- -------------------------------- -----------------------------------------
3. Details of the issuer, emission allowance
market participant, auction platform, auctioneer
or auction monitor
----- ---------------------------------------------------------------------------
(a) Name of entity Ortac Resources
Inc
----- -------------------------------- -----------------------------------------
(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 Share options over
instrument, type of instrument ordinary shares
of no par value
----- -------------------------------- -----------------------------------------
(b) Identification code VGG6829M1005
----- -------------------------------- -----------------------------------------
(c) Nature of the transaction Grant of options
over ordinary shares
of no par value
----- -------------------------------- -----------------------------------------
(d) Price(s) and volume(s) Prices(s) Volume(s)
----------- ----------
4 pence 1,400,000
----------- ----------
----- -------------------------------- -----------------------------------------
(e) Aggregated information: Single transaction
- Aggregated volume as in 4(d) above Prices(s) Volume(s)
- Price ----------- ----------
pence 1,400,000
----------- ----------
----- -------------------------------- -----------------------------------------
(f) Date of transaction 23 March 2017
16:00 hrs UTC
----- -------------------------------- -----------------------------------------
(g) Place of transaction Outside a trading
venue
----- -------------------------------- -----------------------------------------
1. Details of the person discharging managerial
responsibilities/person closely associated
---- ---------------------------------------------------------------------------
(a) Full name of person Dealing Chuck Forrest
---- -------------------------------- -----------------------------------------
2. Reason for notification
---- ---------------------------------------------------------------------------
(a) Position/status Interim CFO
---- -------------------------------- -----------------------------------------
(b) Initial notification/ Amendment Initial notification
---- -------------------------------- -----------------------------------------
3. Details of the issuer, emission allowance
market participant, auction platform, auctioneer
or auction monitor
---- ---------------------------------------------------------------------------
(a) Name of entity Ortac Resources
Inc
---- -------------------------------- -----------------------------------------
(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 Share options over
instrument, type of instrument ordinary shares
of no par value
---- -------------------------------- -----------------------------------------
(b) Identification code VGG6829M1005
---- -------------------------------- -----------------------------------------
(c) Nature of the transaction Grant of options
over ordinary shares
---- -------------------------------- -----------------------------------------
(d) Price(s) and volume(s) Prices(s) Volume(s)
----------- ----------
4 pence 700,000
----------- ----------
---- -------------------------------- -----------------------------------------
(e) Aggregated information: Single transaction
- Aggregated volume as in 4(d) above Prices(s) Volume(s)
- Price ----------- ----------
4 pence 700,000
----------- ----------
---- -------------------------------- -----------------------------------------
(f) Date of transaction 23 March 2017
16:00 hrs UTC
---- -------------------------------- -----------------------------------------
(g) Place of transaction Outside a trading
venue
---- -------------------------------- -----------------------------------------
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.
**ENDS**
For further information, please contact: Ortac Resources Ltd Vassilios Carellas (CEO) +44 (0) 20 3874 8664 SP Angel (Nominated Adviser & Broker) Ewan Leggat/Lindsay Mair +44 (0) 20 3470 0470 Joint Brokers Beaufort Securities Jon Belliss / Elliot Hance +44 (0)20 7382 8300 Peterhouse Corporate Finance +44 (0) 20 7469 0930 Limited www.pcorpfin.com Guy Miller Lucy Williams
This information is provided by RNS
The company news service from the London Stock Exchange
END
DSHUORURBUAOUUR
(END) Dow Jones Newswires
March 24, 2017 04:01 ET (08:01 GMT)
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