Griffin Mining Ld Excercise of Options (4335L)

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RNS Number : 4335L

Griffin Mining Ld

12 January 2021

8th Floor, Royal Trust House, 54-56 Jermyn Street, London. SW1Y 6LX, United Kingdom

Telephone: + 44 (0)20 7629 7772 Facsimile: + 44 (0)20 7629 7773

E mail: [e-mail]

Exercise of Options

12(th) January 2021 .

Griffin Mining Ltd ("the Company") announces that the Company has been notified of and subsequently authorised on 7(th) January 2021 the exercise of options ("the Options") over 1,291,666 new ordinary shares in the Company granted to the directors and management in February 2015 at an exercise price of 30p per share.

Following the exercise of the Options there will be 174,117,894 Ordinary Shares in the Company in issue. There are 540,000 shares held in treasury.

The Options exercised include that by Persons Discharging Management Responsibility, as follows:

 
                               Number       Number      Number of        Number 
                           of options           of        options     of shares 
                               vested      options       retained    held after 
                                         exercised    exercisable      exercise 
                                                       at 30p per 
                                                            share 
 Adam Usdan (Director)      1,166,667    1,166,667              -    34,644,425 
                         ============  ===========  =============  ============ 
 

Following this exercise Adam Usdan, through both direct and indirect interests, will have a beneficial interest in 34,644,425 Ordinary Shares in Griffin, representing 19.9% of the Company's issued share capital.

Application has been made to the London Stock Exchange for 1,291,666 new ordinary shares to be admitted to trading on AIM. These new ordinary shares will rank pari passu in all respects with the existing ordinary shares. It is expected that admission will become effective on or around 15 January 2021.

Template for 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                      Adam Usdan 
---  ------------------------  ------------------------------------------------ 
 2    Reason for the notification 
---  -------------------------------------------------------------------------- 
 a)   Position/status           Director 
---  ------------------------  ------------------------------------------------ 
 b)   Initial notification/     Initial notification 
       Amendment 
---  ------------------------  ------------------------------------------------ 
 3    Details of the issuer, emission allowance market participant, 
       auction platform, auctioneer or auction monitor 
---  -------------------------------------------------------------------------- 
 a)   Name                      Griffin Mining Limited 
---  ------------------------  ------------------------------------------------ 
 b)   LEI 
---  ------------------------  ------------------------------------------------ 
 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               Ordinary Shares 
       the financial 
       instrument, type 
       of instrument 
       Identification 
       code 
---  ---------------------------  --------------------------------------------- 
 b)   Nature of the                Exercise of options 
       transaction 
---  ---------------------------  --------------------------------------------- 
 c)   Price(s) and volume(s)       1,166,666 Ordinary Shares at 30 pence per 
                                    share equating to GBP350,000 
---  ---------------------------  --------------------------------------------- 
 d)   Aggregated information       1,166,666 Ordinary Shares in Griffin Mining 
       - Aggregated                 Limited at 30p each. 
       volume 
       - Price 
---  ---------------------------  --------------------------------------------- 
 e)   Date of the transaction      7 January 2021 
---  ---------------------------  --------------------------------------------- 
 f)   Place of the transaction     London Stock Exchange Alternative Investment 
                                    Market 
---  ---------------------------  --------------------------------------------- 
 (1) Commission Delegated Regulation (EU) 2016/522 of 17 December 
  2015 supplementing Regulation (EU) No 596/2014 of the European 
  Parliament and of the Council as regards an exemption for certain 
  third countries public bodies and central banks, the indicators 
  of market manipulation, the disclosure thresholds, the competent 
  authority for notifications of delays, the permission for trading 
  during closed periods and types of notifiable managers' transactions 
  (see page 1 of this Official Journal). 
------------------------------------------------------------------------------- 
 
 

Further information

 
 Griffin Mining Limited              Telephone: [phone] 
 Mladen Ninkov - Chairman 
  Roger Goodwin - Finance Director 
 Panmure Gordon (UK) Limited         Telephone: [phone] 
  John Prior 
 Berenberg                           Telephone: [phone] 
            Matthew Armitt 
             Jennifer Wyllie 
             Deltir Elezi 
 

Griffin Mining Limited's shares are quoted on the Alternative Investment Market (AIM) of the London Stock Exchange (symbol GFM).

The Company's news releases are available on the Company's web site: www.griffinmining.com

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January 12, 2021 08:41 ET (13:41 GMT)