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GEO Georgian Mining Corporation

1.40
0.00 (0.00%)
Last Updated: 00:00:00
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Georgian Mining Corporation LSE:GEO London Ordinary Share VGG9688A1003 ORD NPV (DI)
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 1.40 1.30 1.50 0.00 00:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Georgian Mining Corporation Grant of Options and Director Shareholding (9567I)

23/06/2017 7:01am

UK Regulatory


Georgian Mining (LSE:GEO)
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TIDMGEO

RNS Number : 9567I

Georgian Mining Corporation

23 June 2017

23 June 2017

Georgian Mining Corporation ('GEO or 'the Company')

Grant of Options and Director Shareholding

Georgian Mining Corporation announces that the Remuneration Committee has agreed to issue options over a total of 3,300,000 ordinary shares of no par value in the capital of the Company ("Share Options") at an exercise price of 18.25p per share. These options will vest immediately and will expire on 21 July 2022.

The Share Options represent in aggregate 2.88% of the existing issued ordinary share capital of the Company and have been issued to a number of directors and employees of the Company in line with the Company's ongoing incentive plans. Following the grant of the Share Options, in aggregate there will be 8,200,000 ordinary shares of no par value of the Company under option to directors and employees of the Company, representing 7.1% of the existing issued ordinary share capital of the Company.

The grant of the Share Options described in this announcement is a related party transaction for the purposes of Rule 13 of the AIM Rules. Martyn Churchouse, being an 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.

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.

The notifications below, made in accordance with the requirements of the EU Market Abuse Regulation, provide further detail on the directors' participation in the Placing.

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:                              Gregory Kuenzel 
---  ---------------------------------  ---------------------------------------- 
 2.   Reason for the notification 
---  --------------------------------------------------------------------------- 
 a)   Position/status:                   Managing Director 
---  ---------------------------------  ---------------------------------------- 
 b)   Initial notification/Amendment:    Initial notification 
---  ---------------------------------  ---------------------------------------- 
 3.   Details of the issuer, emission allowance 
       market participant, auction platform, auctioneer 
       or auction monitor 
---  --------------------------------------------------------------------------- 
 a)   Name:                              Georgian Mining 
                                          Corporation 
---  ---------------------------------  ---------------------------------------- 
 b)   LEI:                               2138002IOR7OCZZPB279 
---  ---------------------------------  ---------------------------------------- 
 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 
       instrument, type of instrument:    over ordinary 
       Identification code:               shares of no par 
                                          value 
                                          VGG9688A1003 
---  ---------------------------------  ---------------------------------------- 
 b)   Nature of the transaction:         Grant of options 
                                          over ordinary 
                                          shares 
---  ---------------------------------  ---------------------------------------- 
 c)   Price(s) and volume(s):              Price(s)       Volume(s) 
                                           -------------  ---------- 
                                            18.25 pence    1,500,000 
                                           -------------  ---------- 
---  ---------------------------------  ---------------------------------------- 
 d)   Aggregated information:            Single transaction 
       Aggregated volume:                 as in 4 c) above Price(s)    Volume(s) 
       Price:                             ----------  ---------- 
                                           18.25 
                                            pence      1,500,000 
                                          ----------  ---------- 
---  ---------------------------------  ---------------------------------------- 
 e)   Date of the transaction:           2017-06-22 
                                          18:30 hrs UTC 
---  ---------------------------------  ---------------------------------------- 
 f)   Place of the transaction:          Outside a trading 
                                          venue 
---  ---------------------------------  ---------------------------------------- 
 
 
 1.   Details of the person discharging managerial 
       responsibilities/person closely associated 
---  --------------------------------------------------------------------------- 
 a)   Name:                              Peter Damouni 
---  ---------------------------------  ---------------------------------------- 
 2.   Reason for the 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:                              Georgian Mining 
                                          Corporation 
---  ---------------------------------  ---------------------------------------- 
 b)   LEI:                               2138002IOR7OCZZPB279 
---  ---------------------------------  ---------------------------------------- 
 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 
       instrument, type of instrument:    over ordinary 
       Identification code:               shares of no par 
                                          value 
                                          VGG9688A1003 
---  ---------------------------------  ---------------------------------------- 
 b)   Nature of the transaction:         Grant of options 
                                          over ordinary 
                                          shares 
---  ---------------------------------  ---------------------------------------- 
 c)   Price(s) and volume(s):              Price(s)       Volume(s) 
                                           -------------  ---------- 
                                            18.25 pence    1,000,000 
                                           -------------  ---------- 
---  ---------------------------------  ---------------------------------------- 
 d)   Aggregated information:            Single transaction 
       Aggregated volume:                 as in 4 c) above Price(s)    Volume(s) 
       Price:                             ----------  ---------- 
                                           18.25 
                                            pence      1,000,000 
                                          ----------  ---------- 
---  ---------------------------------  ---------------------------------------- 
 e)   Date of the transaction:           2017-06-23 
                                          18:30 hrs UTC 
---  ---------------------------------  ---------------------------------------- 
 f)   Place of the transaction:          Outside a trading 
                                          venue 
---  ---------------------------------  ---------------------------------------- 
 
 
 1.   Details of the person discharging managerial 
       responsibilities/person closely associated 
---  --------------------------------------------------------------------------- 
 a)   Name:                              Neil O'Brien 
---  ---------------------------------  ---------------------------------------- 
 2.   Reason for the 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:                              Georgian Mining 
                                          Corporation 
---  ---------------------------------  ---------------------------------------- 
 b)   LEI:                               2138002IOR7OCZZPB279 
---  ---------------------------------  ---------------------------------------- 
 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 
       instrument, type of instrument:    over ordinary 
       Identification code:               shares of no par 
                                          value 
                                          VGG9688A1003 
---  ---------------------------------  ---------------------------------------- 
 b)   Nature of the transaction:         Grant of options 
                                          over ordinary 
                                          shares 
---  ---------------------------------  ---------------------------------------- 
 c)   Price(s) and volume(s):              Price(s)       Volume(s) 
                                           -------------  ---------- 
                                            18.25 pence    500,000 
                                           -------------  ---------- 
---  ---------------------------------  ---------------------------------------- 
 d)   Aggregated information:            Single transaction 
       Aggregated volume:                 as in 4 c) above Price(s)    Volume(s) 
       Price:                             ----------  ---------- 
                                           18.25 
                                            pence      500,000 
                                          ----------  ---------- 
---  ---------------------------------  ---------------------------------------- 
 e)   Date of the transaction:           2017-06-23 
                                          18:30 hrs UTC 
---  ---------------------------------  ---------------------------------------- 
 f)   Place of the transaction:          Outside a trading 
                                          venue 
---  ---------------------------------  ---------------------------------------- 
 
 
 1.   Details of the person discharging managerial 
       responsibilities/person closely associated 
---  --------------------------------------------------------------------------- 
 a)   Name:                              Laurence Mutch 
---  ---------------------------------  ---------------------------------------- 
 2.   Reason for the 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:                              Georgian Mining 
                                          Corporation 
---  ---------------------------------  ---------------------------------------- 
 b)   LEI:                               2138002IOR7OCZZPB279 
---  ---------------------------------  ---------------------------------------- 
 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 
       instrument, type of instrument:    over ordinary 
       Identification code:               shares of no par 
                                          value 
                                          VGG9688A1003 
---  ---------------------------------  ---------------------------------------- 
 b)   Nature of the transaction:         Grant of options 
                                          over ordinary 
                                          shares 
---  ---------------------------------  ---------------------------------------- 
 c)   Price(s) and volume(s):              Price(s)       Volume(s) 
                                           -------------  ---------- 
                                            18.25 pence    250,000 
                                           -------------  ---------- 
---  ---------------------------------  ---------------------------------------- 
 d)   Aggregated information:            Single transaction 
       Aggregated volume:                 as in 4 c) above Price(s)    Volume(s) 
       Price:                             ----------  ---------- 
                                           18.25 
                                            pence      250,000 
                                          ----------  ---------- 
---  ---------------------------------  ---------------------------------------- 
 e)   Date of the transaction:           2017-06-22 
                                          18:30 hrs UTC 
---  ---------------------------------  ---------------------------------------- 
 f)   Place of the transaction:          Outside a trading 
                                          venue 
---  ---------------------------------  ---------------------------------------- 
 

**ENDS**

For further information please visit www.georgianmining.com or contact:

 
 Greg Kuenzel     Georgian Mining          Company        Tel: 020 7907 
                   Corporation                             9327 
 Ewan Leggat      S. P. Angel Corporate    Nomad &        Tel: 020 3470 
                   Finance LLP              Broker         0470 
 Damon Heath      Shard Capital Partners   Joint Broker   Tel: 0207 
                   LLP                                     186 9950 
 Frank Buhagiar   St Brides Partners       PR             Tel: 020 7236 
                   Ltd                                     1177 
 

About Georgian Mining Corporation

Georgian Mining Corporation has 50% ownership and operational control of the Bolnisi Copper and Gold Project in Georgia, situated on the prolific Tethyan Belt, a well-known geological region and host to many high-grade copper-gold deposits and producing mines. The Bolnisi licence covers an area of over 860 sq km and has a 30-year mining licence with two advanced exploration projects; Kvemo Bolnisi and Tsitsel Sopeli. These projects are nearby existing mining operations owned by the Company's supportive joint venture partner. Georgia has an established mining code and is a jurisdiction open to direct foreign investment.

The Company is developing the project in three phases:

-- Phase 1: H1 2017 target to delineate a minimum of 1-2 Mt to support initial spare capacity (now achieved and exceeded)

-- Phase 2: 2017 target to delineate a 3-5 Mt resource of combined copper-gold sulphide and gold oxide mineralisation (on target)

   --    Phase 3: Long term target - to delineate a resource of 50Mt+ 

This information is provided by RNS

The company news service from the London Stock Exchange

END

DSHOKBDNKBKBAAB

(END) Dow Jones Newswires

June 23, 2017 02:01 ET (06:01 GMT)

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