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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Ortac Res. | LSE:OTC | London | Ordinary Share | VGG6829M1187 | ORDS 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% | 2.45 | 2.40 | 2.50 | 0.00 | 01:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
From Apr 2019 to Apr 2024
TIDMOTC
RNS Number : 0093X
Ortac Resources Limited
20 November 2017
20 November 2017
Ortac Resources Ltd
("Ortac" or the "Company")
Grant of Share Options
Ortac Resources Ltd, the AIM listed exploration and mine development company, is pleased to announce that the Company has agreed to issue options over a total 12,025,710 new ordinary shares of no par value ("Ordinary Shares") of the Company ("Share Options") to Nick von Schirnding, Chairman of Ortac and Vassilios Carellas, Chief Operating Officer.
The Share Options have an exercise price of 2.625 pence per Ordinary Share, being the closing mid-market price for Ordinary Shares of Ortac on 17 November 2017. The Share Options expire on 17 November 2022.
Details of the Share Options granted are set out below:
Hot Features
Premium
Number of Number of
Name Title new Share Ordinary
Options Shares subject
granted to Option
following
the grant
of new Options
--------------------- ----------------- ----------- ----------------
Nick von Schirnding Chairman 6,220,195 7,620,195
--------------------- ----------------- ----------- ----------------
Chief Operating
Vassilios Carellas Officer 5,805,515 7,605,515
--------------------- ----------------- ----------- ----------------
Total 12,025,710 15,225,710
---------------------------------------- ----------- ----------------
Following the above grant, there are a total of 16,080,710 Share Options granted over unissued Ordinary Shares granted to Directors and employees of the Company, representing approximately 4.82% of the Company's current issued Ordinary Share capital of 333,801,654 Ordinary Shares.
Nick von Schirnding is a director of Ortac and Vasilios Carellas is a person discharging managerial responsibilities ("PDMR") and are therefore regarded as related parties as defined by the AIM Rules for Companies (the "AIM Rules"). The grant of Options to each of them is classified as a related party transaction for the purposes of Rule 13 of the AIM Rules. Mr Brian McMaster, 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.
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 director's share dealing.
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) Full name of person Dealing Nick von Schirnding
----- -------------------------------- -----------------------------------------
2. Reason for notification
----- ---------------------------------------------------------------------------
(a) Position/status 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 VGG6829M1187
----- -------------------------------- -----------------------------------------
(c) Nature of the transaction Grant of options
over ordinary shares
----- -------------------------------- -----------------------------------------
(d) Price(s) and volume(s) Prices(s) Volume(s)
----------- ----------
2.625
pence 6,220,195
----------- ----------
----- -------------------------------- -----------------------------------------
(e) Aggregated information: Single transaction
- Aggregated volume as in 4(d) above Prices(s) Volume(s)
- Price ----------- ----------
2.625
pence 6,220,195
----------- ----------
----- -------------------------------- -----------------------------------------
(f) Date of transaction 2017-11-20
----- -------------------------------- -----------------------------------------
(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 Chief Operating
Officer (non-Board)
----- -------------------------------- -----------------------------------------
(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 VGG6829M1187
----- -------------------------------- -----------------------------------------
(c) Nature of the transaction Grant of options
over ordinary shares
----- -------------------------------- -----------------------------------------
(d) Price(s) and volume(s) Prices(s) Volume(s)
----------- ----------
2.625
pence 5,805,515
----------- ----------
----- -------------------------------- -----------------------------------------
(e) Aggregated information: Single transaction
- Aggregated volume as in 4(d) above Prices(s) Volume(s)
- Price ----------- ----------
2.625
pence 5,805,515
----------- ----------
----- -------------------------------- -----------------------------------------
(f) Date of transaction 2017-11-20
----- -------------------------------- -----------------------------------------
(g) Place of transaction Outside a trading
venue
----- -------------------------------- -----------------------------------------
**ENDS**
For further information, please contact:
Ortac Resources Ltd
+44 (0) 20 7389
Nick von Schirnding (Chairman) 9050
SP Angel (Nominated Adviser
& Broker)
Ewan Leggat / Lindsay Mair +44 (0) 20 3470
/ Soltan Tagiev 0470
Celicourt Communications (PR)
Mark Antelme / Jimmy Lea +44 (0) 20 7520 9261
This information is provided by RNS
The company news service from the London Stock Exchange
END
DSHURRVRBSAAUAA
(END) Dow Jones Newswires
November 20, 2017 10:10 ET (15:10 GMT)
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