Pathfinder Minerals Plc Extension of Certain Share Options and Warrants (6650K)

TIDMPFP

RNS Number : 6650K

Pathfinder Minerals Plc

06 May 2022

6 May 2022

Pathfinder Minerals Plc

("Pathfinder" the "Company")

Extension of Certain Share Options and Warrants

Pathfinder announces the extension of certain directors' share options and the extension of certain warrants issued to a related party.

The following directors' share options have been extended by one year from their original expiry dates, pursuant to a review by the Nomination and Remuneration Committee, to support the retention of key personnel and provide an appropriate level of ongoing incentive.

 
 Director          Date of     No. Options   Exercise      Original    New Expiry 
                     Grant                     Price      Expiry Date     Date 
 Dennis Edmonds   11/05/2020    10,000,000   GBP0.0125    11/05/2022   11/05/2023 
 Peter Taylor     04/08/2020     6,000,000   GBP0.0125    30/08/2022   30/08/2023 
 

The following warrants issued to Richard Jennings (the "Warrant Holder") pursuant to a fundraising announced on 11 May 2020 and the issue of a Convertible Loan Note (as announced on 3 April 2020) have been extended by approximately one year from their original expiry dates, in consideration for which the Warrant Holder has agreed, for nominal consideration, to continue providing equity research services, through his vehicle Align Research Ltd, to the Company until 13 April 2023.

 
 Warrant Holder      Date of     No. Warrants   Exercise     Original    New Expiry 
                       Grant                      Price     Expiry Date     Date 
 Richard Jennings   11/05/2020     11,666,668   GBP0.005     11/05/2022  31/05/2023 
 Richard Jennings   11/05/2020      3,076,923   GBP0.015     11/05/2022  31/05/2023 
 

Related Party Transactions

The amendment to the terms of the directors' share options and the warrants held by the Warrant Holder (who, together with Align Research Ltd, is a Substantial Shareholder in the Company) (the "Amendments") are considered to be related party transactions pursuant to Rule 13 of the AIM Rules for Companies.

The Directors independent of the Amendments, being Jonathan Summers and Mark Gasson, consider, having consulted with the Company's Nominated Adviser, Strand Hanson Limited, that the Amendments are fair and reasonable insofar as the Company's shareholders are concerned.

Enquiries:

Pathfinder Minerals Plc

Peter Taylor, Chief Executive Officer

Tel. +44 [phone]

Strand Hanson Limited (Nominated & Financial Adviser and Broker)

James Spinney / Ritchie Balmer / Rob Patrick

Tel. [phone]

Vigo Consulting (Public Relations)

Ben Simons / Charlie Neish / Kate Kilgallen

Tel. [phone]

Email [e-mail]

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ("MAR").

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May 06, 2022 10:19 ET (14:19 GMT)