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Share Name Share Symbol Market Type Share ISIN Share Description
Path Investments Plc LSE:PATH London Ordinary Share GB00BYQD5059 ORD GBP0.001
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.0% 0.75 0.00 00:00:00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
General Financial 0.0 -0.3 -0.2 - 1

Path Investments plc Option Surrender and Issue of Replacement Options

08/10/2020 9:55am

UK Regulatory (RNS & others)


Path Investments (LSE:PATH)
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From Jul 2020 to Jan 2021

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TIDMPATH

RNS Number : 5153B

Path Investments plc

08 October 2020

Path Investments plc

("Path" or the "Company")

Option Surrender and Issue of Replacement Options

Path Investments plc (TIDM: PATH) , the energy and natural resources investment company, announces that Christopher Theis, Chief Executive Officer and Andrew Yeo, formerly Chief Operating Officer, of Path, have today surrendered the following options in the Company, granted to them on 30 March 2017:

 
                     Number of ordinary   Exercise price   Expiry date 
                      shares subject 
                      to option 
 Christopher Theis   20,000,000           GBP0.001         30 March 2027 
                    -------------------  ---------------  -------------- 
 Christopher Theis   16,000,000           GBP0.01          30 March 2027 
                    -------------------  ---------------  -------------- 
 Christopher Theis   6,500,000            GBP0.02          30 March 2027 
                    -------------------  ---------------  -------------- 
 Andrew Yeo          8,500,000            GBP0.001         30 March 2027 
                    -------------------  ---------------  -------------- 
 Andrew Yeo          6,500,000            GBP0.01          30 March 2027 
                    -------------------  ---------------  -------------- 
 Andrew Yeo          2,875,000            GBP0.02          30 March 2027 
                    -------------------  ---------------  -------------- 
 

The following options to acquire ordinary shares in Path have today been issued to Christopher Theis and Andrew Yeo:

 
                     Number of ordinary   Exercise price   Expiry date 
                      shares subject 
                      to option 
 Christopher Theis   42,500,000           GBP0.001         8 October 2030 
                    -------------------  ---------------  --------------- 
 Andrew Yeo          17,875,000           GBP0.001         8 October 2030 
                    -------------------  ---------------  --------------- 
 

This surrender and reissue of an equivalent amount of options marks the first action in a series of events that the directors have planned, to streamline the company's capital structure ahead of the proposed readmission and acquisition of DTU.

Further details on the lapse and grant to Christopher Theis are included in the notifications below, made in accordance with the requirements of the EU Market Abuse Regulation.

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014

For further information please contact:

 
 Path Investments plc                            C /O IFC 
 Christopher Theis 
 
 IFC Advisory Limited (Financial PR & IR)        020 3934 6630 
 Tim Metcalfe 
 Zach Cohen 
 
 Grant Thornton UK LLP (Financial Adviser) 
 Samantha Harrison                               020 7865 2411 
 Harrison Clarke                                 020 7184 4384 
 
 Keith, Bayley, Rogers & Co. Limited (Broker) 
                                                 07776 30 22 
 Brinsley Holman                                  28 
                                                 07506 43 41 
 Graham Atthill-Beck                              07 
 

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                              Christopher Theis 
     --------------------------------  --------------------------------- 
 2.   Reason for the Notification 
     ------------------------------------------------------------------- 
 a)   Position/status                   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                              Path Investments plc 
     --------------------------------  --------------------------------- 
 b)   LEI                               21380058VQBP76M7TN11 
     --------------------------------  --------------------------------- 
 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                  Lapse of Options over Ordinary 
       Financial instrument,                Shares of GBP0.001 each 
       type of instrument 
      Identification code               GB00BYQD5059 
     --------------------------------  --------------------------------- 
 b)   Nature of the transaction          Surrender of Options 
     --------------------------------  --------------------------------- 
 c)   Price(s) and volume(s)             Price(s)    Volume 
                                          nil         42,500,000 
                                                     ----------- 
     --------------------------------  --------------------------------- 
 d)    Aggregated information: 
         *    Aggregated volume           N/A 
 
 
         *    Price 
     --------------------------------  --------------------------------- 
 e)   Date of the transaction           8 October 2020 
     --------------------------------  --------------------------------- 
 f)   Place of the transaction          Outside of trading venue 
     --------------------------------  --------------------------------- 
 
 
 2.   Details of the person discharging managerial responsibilities 
       / person closely associated 
 a)   Name                              Christopher Theis 
     --------------------------------  --------------------------------- 
 3.   Reason for the Notification 
     ------------------------------------------------------------------- 
 a)   Position/status                   Chief Executive Officer 
     --------------------------------  --------------------------------- 
 b)   Initial notification/Amendment     Initial notification 
     --------------------------------  --------------------------------- 
 4.   Details of the issuer, emission allowance market participant, 
       auction platform, auctioneer or auction monitor 
     ------------------------------------------------------------------- 
 a)   Name                              Path Investments plc 
     --------------------------------  --------------------------------- 
 b)   LEI                               21380058VQBP76M7TN11 
     --------------------------------  --------------------------------- 
 5.   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                  Grant of Options over Ordinary 
       Financial instrument,                Shares of GBP0.001 each 
       type of instrument 
      Identification code               GB00BYQD5059 
     --------------------------------  --------------------------------- 
 b)   Nature of the transaction          Grant of Options 
     --------------------------------  --------------------------------- 
 c)   Price(s) and volume(s)             Price(s)    Volume 
                                          nil         42,500,000 
                                                     ----------- 
     --------------------------------  --------------------------------- 
 d)    Aggregated information: 
         *    Aggregated volume           N/A 
 
 
         *    Price 
     --------------------------------  --------------------------------- 
 e)   Date of the transaction           8 October 2020 
     --------------------------------  --------------------------------- 
 f)   Place of the transaction          Outside of 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 rns@lseg.com or visit www.rns.com.

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END

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October 08, 2020 04:55 ET (08:55 GMT)

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