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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
African Battery Metals Plc | LSE:ABM | London | Ordinary Share | GB00BYWJZ743 | ORD 0.1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.55 | 0.50 | 0.60 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMPOW
RNS Number : 0165I
Power Metal Resources PLC
09 August 2021
9 August 2021
Power Metal Resources plc ("Power Metal" or the "Company")
Executive Director Option Award
Power Metal Resources plc (LON:POW) the London listed exploration company seeking large-scale metal discoveries across its global project portfolio announces the grant of options to Executive Directors.
The exercise price for the options granted will be 3.25p per ordinary share of 0.1 pence each in the Company ("Ordinary Share") representing a premium of 51.9% to the closing mid-market share price of 2.14p on Friday 6 August 2021. All options will have a three-year life to expiry from today's date.
Executive Director Options
The Company's Executive Directors are to be awarded 20,000,000 options over Ordinary Shares allocated as 12,500,000 to Paul Johnson, Chief Executive Officer and 7,500,000 to Andrew Bell, Chairman (the "Director Options"). The Director Options will vest immediately, and, if possible, the Director Options are to be awarded under an Enterprise Management Incentive ("EMI") tax protective scheme.
The Director Options are subject to a share price performance condition and cannot be exercised until the volume weighted average share price ("VWAP") of the Company has exceeded 5.0p per Ordinary Share for ten consecutive trading days representing a premium of 133.6% to the closing mid-market share price of 2.14p on Friday 6 August 2021. Both directors must also serve for a further 6 months from today's date as employees of the Company.
Overall Summary of Director Options
Following the above Director Option issues the overall options held by the board are:
Director Number of Ordinary Terms Shares under option Andrew Bell (Chairman) 13,613,929 1.0p exercise price, expiry 15/02/2022 7,500,000 2.0p exercise price, expiry 29/07/2023 7,500,000 3.25p exercise price, expiry 9/08/2024, 5.0p ten day VWAP hurdle before may be exercised ------------------- ------------------------------------------ Paul Johnson (CEO) 13,613,929 1.0p exercise price, expiry 15/02/2022 12,500,000 2.0p exercise price, expiry 29/07/2023 3.25p exercise price, expiry 12,500,000 9/08/2024, 5.0p ten day VWAP hurdle before may be exercised ------------------- ------------------------------------------ Scott Richardson 500,000 5.0p exercise price, expiry 28/08/2023 Brown (Non-executive 500,000 5.0p exercise price, expiry 28/08/2023 director) 5,000,000 1.0p exercise price, expiry 19/02/2023 5,000,000^ 3.25p exercise price, expiry 4/06/2024, 5.0p ten day VWAP hurdle before exercise ------------------- ------------------------------------------ Edmund Shaw 5,000,000 1.0p exercise price, expiry 19/02/2023. (Non-executive director) 5,000,000^ 3.25p exercise price, expiry 4/06/2024, 5.0p ten day VWAP hurdle before exercise ------------------- ------------------------------------------ ^New proposed Non-executive Director Options announced 4/6/21 (and subject to shareholder approval at General Meeting) Total 88,227,858 ------------------- ------------------------------------------
PDMR Disclosure
The notifications below, made in accordance with the requirements of the EU Market Abuse Regulation, provide further detail on the director's share dealing.
1 Details of the person discharging managerial responsibilities / person closely associated a) Name 1. Paul Johnson -------------------------------------- ------------------------------------------ 2 Reason for the notification ---------------------------------------------------------------------------------- a) Position/status 1. Chief Executive Officer -------------------------------------- ------------------------------------------ b) Initial notification /Amendment Initial Notification -------------------------------------- ------------------------------------------ 3 Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor ---------------------------------------------------------------------------------- a) Name Power Metal Resources Plc -------------------------------------- ------------------------------------------ b) LEI 213800VNXOUPHTX53686 -------------------------------------- ------------------------------------------ 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 0.1p each instrument, type of instrument Identification code ISIN: GB00BYWJZ743 b) Nature of the transaction 1. Issue of Director Options -------------------------------------- ------------------------------------------ c) Price(s) and volume(s) ------------------ ------------------- Price(s) Volume(s) ------------------ ------------------- 3.25p 12,500,000 ------------------ ------------------- d) Aggregated information - Aggregated volume 12,500,000 - Price 3.25p e) Date of the transaction 9 August 2021 -------------------------------------- ------------------------------------------ f) Place of the transaction Off Market -------------------------------------- ------------------------------------------ 1 Details of the person discharging managerial responsibilities / person closely associated a) Name 1. Andrew Bell --------------------------------------- ------------------------------------------ 2 Reason for the notification ----------------------------------------------------------------------------------- a) Position/status 1. Chairman --------------------------------------- ------------------------------------------ b) Initial notification /Amendment Initial Notification --------------------------------------- ------------------------------------------ 3 Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor ----------------------------------------------------------------------------------- a) Name Power Metal Resources Plc --------------------------------------- ------------------------------------------ b) LEI 213800VNXOUPHTX53686 --------------------------------------- ------------------------------------------ 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 0.1p each instrument, type of instrument Identification code ISIN: GB00BYWJZ743 b) Nature of the transaction 1. Issue of Director Options --------------------------------------- ------------------------------------------ c) Price(s) and volume(s) ------------------- ------------------ Price(s) Volume(s) ------------------- ------------------ 3.25p 7,500,000 ------------------- ------------------ d) Aggregated information - Aggregated volume 7,500,000 - Price 3.25p
e) Date of the transaction 9 August 2021 --------------------------------------- ------------------------------------------ f) Place of the transaction Off Market --------------------------------------- ------------------------------------------
Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with the Company's obligations under Article 17 of MAR.
For further information please visit https://www.powermetalresources.com/ or contact:
Power Metal Resources plc Paul Johnson (Chief Executive Officer) +44 (0) 7766 465 617 SP Angel Corporate Finance (Nomad and Joint Broker) Ewan Leggat/Charlie Bouverat +44 (0) 20 3470 0470 SI Capital Limited (Joint Broker) Nick Emerson +44 (0) 1483 413 500 First Equity Limited (Joint Broker) David Cockbill/Jason Robertson +44 (0) 20 7330 1883
Notes to Editors:
Power Metal Resources plc (LON:POW) is an AIM listed metals exploration company which finances and manages global resource projects and is seeking large scale metal discoveries.
The Company has a principal focus on opportunities offering district scale potential across a global portfolio including precious and base metal exploration in North America, Africa and Australia.
Project interests range from early-stage greenfield exploration to later-stage prospects currently subject to drill programmes.
Power Metal will develop projects internally or through strategic joint ventures until a project becomes ready for disposal through outright sale or separate listing on a recognised stock exchange thereby crystallising the value generated from our internal exploration and development work.
Value generated through disposals will be deployed internally to drive the Company's growth or may be returned to shareholders through share buy backs, dividends or in-specie distributions of assets.
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(END) Dow Jones Newswires
August 09, 2021 06:24 ET (10:24 GMT)
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