Alexander Mining PLC Grant of Share Options (0728P)

TIDMAXM

RNS Number : 0728P

Alexander Mining PLC

23 May 2018

23 May 2018

Alexander Mining plc

("Alexander" or "the Company")

Grant of Share Options

In the best interests of Alexander and its shareholders, the Board has a policy of incentivising and retaining its valued employees, directors and consultants and, to this end, the Company has a share option plan in place. In order to assess whether the existing share options are consistent with their purpose of aligning stakeholders to the success of the business, the Company's Remuneration Committee (the "Committee") has recently conducted a review of the existing share options. As a result of this review, the Committee has recommended that in order to continue to provide incentivisation and reward for performance, there should be an additional grant of new share options.

Accordingly the Board has approved the grant of an additional 94,000,000 new share options ("New Share Options") at an exercise price of 0.15 pence ("Exercise Price") to directors, employees and consultants.

The Exercise Price of the New Share Options represents a 20 per cent. premium to the closing mid-market 90 day simple moving average on 22 May 2018, being the final business day prior to the Board approval. The New Share Options will vest from the date of the grant (being 23 May 2018) and will expire on 28 July 2026.

Details of the share options granted to directors of the Company are as follows:

 
  Director                         New Share 
                                     Options 
                                     granted 
                                    at 0.15p 
 
  Martin Rosser, CEO              24,000,000 
  Alan Clegg, Non-executive 
   Director                       24,000,000 
  James Bunyan, Non-executive 
   Director                       20,000,000 
 

As a result of the above grant, the Company has the following options in place for directors, employees and consultants.

 
 Number of options    Exercise price 
 94,000,000          0.15p per share 
 43,300,000          0.22p per share 
 12,900,000          4.92p per share 
 
 
 
 

ENDS

Enquiries

 
 Martin Rosser                       Alan Clegg 
  Chief Executive                     Non-Executive Chairman 
  Mobile: [phone]        Mobile: +90 543 
                                      533 0665 
 Alexander Mining plc 
  Tel: [phone] 
  Email: [e-mail] 
  Website: www.alexandermining.com 
 
 Northland Capital Partners 
  Limited 
  Matthew Johnson / Dugald J 
  Carlean (Corporate Finance) 
  John Howes (Corporate Broking) 
  Tel: [phone] 
  Turner Pope Investments (TPI) 
  Ltd 
  Andy Thacker 
  Tel: [phone] 
 

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                                                               1. Martin Rosser 
                                                                        2. Alan Clegg 
                                                                        3. Jim Bunyan 
                                                                        4. John Getty 
    -----------------------------------------------------------  ------------------------------------------- 
2   Reason for the notification 
    -------------------------------------------------------------------------------------------------------- 
a)  Position/status                                                    1. Chief Executive 
                                                                        2. Non-Executive Director 
                                                                        3. Non-Executive Director 
                                                                        4. Consultant/Company Secretary 
    -----------------------------------------------------------  ------------------------------------------- 
b)  Initial notification /Amendment                              Initial Notification 
    -----------------------------------------------------------  ------------------------------------------- 
3   Details of the issuer, emission allowance market participant, auction platform, auctioneer 
     or auction monitor 
    -------------------------------------------------------------------------------------------------------- 
a)  Name                                                         Alexander Mining plc 
    -----------------------------------------------------------  ------------------------------------------- 
b)  Legal Entity Identifier 
                                                                                 2138003SZQSPC16PLX94 
    -----------------------------------------------------------  ------------------------------------------- 
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  Options over ordinary shares of 0.1p each 
 
     Identification code                                          GB00B06K1665 
    -----------------------------------------------------------  ------------------------------------------- 
b)  Nature of the transaction                                    Grant of Options 
    -----------------------------------------------------------  ------------------------------------------- 
c)  Currency                                                     GBP 
    -----------------------------------------------------------  ------------------------------------------- 
d)  Price(s) and volume(s)                                       Price(s)               Volume(s) 
    -----------------------------------------------------------  ---------------------  -------------------- 
                                                                 Exercise price 0.15p         1. 24,000,000 
                                                                                               2. 24,000,000 
                                                                                               3. 20,000,000 
                                                                                               4. 10,000,000 
    -----------------------------------------------------------  ---------------------  -------------------- 
 
e)  Aggregated information 
     - Aggregated volume                                           NA 
     - Price 
     - Aggregated total 
    -----------------------------------------------------------  ------------------------------------------- 
f)  Date of the transaction                                      23 May 2018 
    -----------------------------------------------------------  ------------------------------------------- 
g)  Place of the transaction                                     Outside a trading venue 
    -----------------------------------------------------------  ------------------------------------------- 
 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

END

STRFKNDKQBKDKPB

(END) Dow Jones Newswires

May 23, 2018 10:03 ET (14:03 GMT)