We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Reabold Resources Plc | LSE:RBD | London | Ordinary Share | GB00B95L0551 | ORD 0.1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.0625 | 0.06 | 0.065 | 0.0625 | 0.0625 | 0.0625 | 5,230,144 | 00:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Mgmt Invt Offices, Open-end | 560k | -45k | 0.0000 | N/A | 5.93M |
TIDMRBD
RNS Number : 1356U
Reabold Resources PLC
19 October 2017
For immediate release 19 October 2017
Reabold Resources plc
("Reabold" or the "Company")
Director Appointments
Issue of Options
Reabold, the AIM listed investment company operating in the natural resources sector, is pleased to announce that Sachin Oza and Stephen Williams, the Joint Chief Executive Officers of the Company, have been appointed to the Board of Directors with immediate effect. Mr Oza and Mr Williams will now both be acting as Directors and Joint Chief Executive Officers.
Mr Oza and Mr Williams each hold 10,000,000 ordinary shares in the Company (or 0.65% of the Company's issued share capital each) which they acquired under the placing to raise GBP3.96 million announced on 20 September 2017 (the "Placing") and at the Placing price of 0.5 pence per Placing share (the "Placing Price").
Following the Placing and in connection with the appointment of Mr Oza and Mr Williams to the Board, the Company also advises that options over Ordinary Shares (the "Options") as set out below were granted on 19 October 2017 over a total of 190 million common shares representing 12.33% of the issued share capital of the Company and expire four years from the date of grant.
Executive Position New Options Exercise Vesting Period Expiry Issued Price ----------- ----------- ------------ --------- --------------- ----------- Sachin CEO 30,000,000 0.50p Immediately 19-Oct-21 Oza 30,000,000 0.75p 12 months 19-Oct-21 from grant 30,000,000 1.00p 18 months 19-Oct-21 from grant ----------- ----------- ------------ --------- --------------- ----------- Stephen CEO 30,000,000 0.50p Immediately 19-Oct-21 Williams 30,000,000 0.75p 12 months 19-Oct-21 from grant 30,000,000 1.00p 18 months 19-Oct-21 from grant ----------- ----------- ------------ --------- --------------- ----------- Anthony Finance Samaha Director 10,000,000 0.5p Immediately 19-Oct-21 ----------- ----------- ------------ --------- --------------- -----------
Of the 190m stock options: 70 million have an exercise price of 0.50p and vest immediately and are in line with both the Placing Price as set out above, and with the subscription price of a subsequent fund raising totalling GBP1.76 million announced on 2 October 2017; 60 million have an exercise price of 0.75p, representing a premium of 50% to the Placing Price and vest 12 months from grant; and 60 million have a exercise price of 1.0p, representing a premium of 100% to the Placing Price, and vest 18 months from grant. Should any Option holder leave the Board prior to the vesting of their Options, such Options will be forfeited.
The issue of the Options as set out above ("the Transaction") are a related party transaction under the AIM Rules. Jeremy Edelman, the Director independent of the Transaction, considers, having consulted with the Company's Nominated Adviser, that the terms of the Transaction are fair and reasonable so far as shareholders of the Company are concerned.
Jeremy Edelman, Executive Chairman comments:
"I am delighted to see Sachin and Stephen join the Board and very much appreciate their efforts so far. Following discussions with potential investors at the time of the Placing it was agreed that putting in place appropriate management incentives to align the interests of new investors and management would be appropriate and therefore the Company hopes the grant of Options as detailed above will achieve this. We look forward to further benefiting from their considerable technical expertise and experience".
Disclosure required under the AIM Rules:
The names of all companies of which Mr Sachin Oza, aged 44, and Mr Stephen Anthony Williams, aged 36, has been a director at any time in the previous five years are set out below:
Sachin Oza Stephen Williams ----------- ----------- ----------------- Kermin Ltd Previous Previous ----------- ----------- -----------------
Mr Oza and Mr Williams, each hold 10 million ordinary shares in the Company.
There are no other matters which are required to be announced pursuant to paragraph (g) of Schedule 2 to the AIM Rules.
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014
Enquiries:
Reabold Resources Sachin Oza C/o Camarco plc Stephen Williams Tel: 020 3757 4980 Anthony Samaha Beaumont Cornish Roland Cornish Tel: 020 7628 3396 Limited Felicity Geidt Whitman Howard Nick Lovering Tel: 020 7659 1234 Limited Grant Barker Turner Pope Investments Andy Thacker Tel: 020 3621 4120 (TPI) Ltd - Joint Broker Camarco Billy Clegg Tel: 020 3757 4980 James Crothers Oliver Head
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCBLBDGRSBBGRC
(END) Dow Jones Newswires
October 19, 2017 12:48 ET (16:48 GMT)
1 Year Reabold Resources Chart |
1 Month Reabold Resources Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions