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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Stellar Diamond | LSE:STEL | London | Ordinary Share | GB00BYZ5QT80 | ORD 1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 5.25 | 0.00 | 00:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMSTEL
RNS Number : 9268Z
Stellar Diamonds PLC
20 December 2017
NOT FOR DISTRIBUTION IN THE UNITED STATES OR FOR DISSEMINATION TO US NEWS WIRE SERVICES.
20 December 2017
AIM: STEL
Stellar Diamonds plc
("Stellar" or the "Company")
Cancellation of existing Share Options
Grant of new Share Options
PDMR dealings
Stellar, the London Listed (AIM: STEL) diamond mining and exploration company focused on Sierra Leone, announces the cancellation of all 1,013,000 existing options over ordinary shares ("Existing Options") and the intended grant of new share options over 5,250,000 ordinary shares of GBP0.01 each ("Ordinary Shares") in aggregate to certain Directors and employees of the Company or its subsidiaries ("New Options"). The New Options have an exercise price of 3.25 pence per Ordinary Share. Further terms of the New Options are described below.
Cancellation of Existing Options
The Directors and certain employees were awarded options during the period 2012 to 2014 whose exercise price (following the Company's share reorganisation in 2015) is 62.5p, 75p and 150p. The Board considers that these Existing Options provide no realistic incentive and, accordingly, it has been agreed to cancel these options.
New Options
The New Options are exercisable for a period of 5 years from the date of grant. One third of the New Options will vest immediately, one third in six months and one third in twelve months. The exercise price represents a premium of 30% to the closing share price of 2.50p per share on 19 December 2017.
The New Options will be subject to the terms of the Company's unapproved share option scheme.
The allocation of the New Options is detailed in the following table:
Directors Position New Exercise Total Options price number granted (GBP) of share options held ----------------- ----------------- ---------- --------- ---------- Chief Executive Karl Smithson Officer 1,850,000 0.0325 1,850,000 ----------------- ----------------- ---------- --------- ---------- Non-Executive Steven Poulton Director 750,000 0.0325 750,000 ----------------- ----------------- ---------- --------- ---------- Hansjoerg Non-Executive Plaggemars Director 750,000 0.0325 750,000 ----------------- ----------------- ---------- --------- ---------- Chief Operating Rowan Carr Officer 1,250,000 0.0325 1,250,000 ----------------- ----------------- ---------- --------- ---------- Other Employees 650,000 0.0325 650,000 ------------------------------------ ---------- --------- ---------- 5,250,000 5,250,000 ---------- ----------
Following the cancellation of the Existing Options and grant of the New Options, the total number of Ordinary Shares under option is 5,250,000 representing 8.47% of the Company's share capital of 62,007,748 ordinary shares.
The grant of the New Options to Karl Smithson, Steven Poulton, Hansjoerg Plaggemars and Rowan Carr as outlined above, are related party transactions for the purposes of Rule 13 of the AIM Rules for Companies. The independent director of the Company, Peter Daresbury, considers, having consulted with the Company's nominated adviser, Cairn Financial Advisers LLP, that the terms of grant of the New Options, as outlined above, are fair and reasonable insofar as Shareholders are concerned.
For further information contact the following or visit the Company's website at www.stellar-diamonds.com.
Karl Smithson, Stellar Diamonds plc Tel: +44 (0) 20 CEO 7010 7686 Emma Earl Cairn Financial Advisers Tel: +44 (0) 20 Sandy Jamieson (Nominated Adviser) 7213 0880 Jon Bellis Beaufort Securities Tel: +44 (0) 20 Limited (Joint Broker) 7382 8300 Martin Lampshire Peterhouse Corporate Tel: +44 (0) 20 Finance (Joint Broker) 7469 0930 Tim Blythe Blytheweigh Tel: +44 (0) 20 Nick Elwes (Financial PR) 7138 3204
About Stellar Diamonds plc
Stellar is an AIM listed (AIM: STEL) diamond development company focused on the 4.5 million carat high-grade and high value Tongo-Tonguma kimberlite diamond project in the world famous diamond fields of eastern Sierra Leone. An independently generated mine plan, based on over 66,000m of drilling that has been completed to date, envisages the production of over 4 million carats, generating gross revenues of more than US$1.2 billion, over a 21 year life of mine. Initial production at Tongo-Tonguma is scheduled to occur in the first year of development, building up to over 200,000 carats per annum, with a weighted average modelled diamond value of $229 per carat. The Tongo-Tonguma mine is estimated to give Stellar an attributable a Post-tax NPV(8) of US$109 million and IRR of 31%.
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.
The notifications set out below are provided in accordance with the requirements of the EU Market Abuse Regulation.
Notification of a Transaction pursuant to Article 19(1) of Regulation (EU) No. 596/2014 ------------------------------------------------------------------------------- 1 Details of the person discharging managerial responsibilities/person closely associated ----- ------------------------------------------------------------------------ a. Name Nicholas Karl Smithson ------------------------------------------ 2 Reason for 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 Stellar Diamonds Plc ----- ---------------------------- ------------------------------------------ b. LEI 213800BFLH23MYBBNC62 ----- ---------------------------- ------------------------------------------ 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 Ordinary Shares of 1 pence each of the financial instrument, type of instrument GB00BYZ5QT80 Identification Code ----- ---------------------------- ------------------------------------------ b. Nature of the Grant of options over new Ordinary transaction Shares ----- ---------------------------- ------------------------------------------ c. Price(s) and Price(s) Volume(s) volume(s) per share ----- ---------------------------- --------------------- --------------- 3.25 pence 1,850,000 -------------------------------------------------------- --------------- d. Aggregated information Options over 1,850,000 ordinary shares with an exercise price - Aggregated of 3.25pence each Volume - Price ----- ---------------------------- ------------------------------------------ e. Date of the 19 December 2017 transaction ----- ---------------------------- ------------------------------------------ f. Place of the London AIM transaction ----- ---------------------------- ------------------------------------------ Notification of a Transaction pursuant to Article 19(1) of Regulation (EU) No. 596/2014 ------------------------------------------------------------------------------- 1 Details of the person discharging managerial responsibilities/person closely associated ----- ------------------------------------------------------------------------ a. Name Hansjoerg Plaggemars ------------------------------------------ 2 Reason for 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 Stellar Diamonds Plc ----- ---------------------------- ------------------------------------------ b. LEI 213800BFLH23MYBBNC62 ----- ---------------------------- ------------------------------------------ 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 Ordinary Shares of 1 pence each of the financial instrument, type of instrument GB00BYZ5QT80 Identification Code ----- ---------------------------- ------------------------------------------ b. Nature of the Grant of options over new Ordinary transaction Shares ----- ---------------------------- ------------------------------------------ c. Price(s) and Price(s) Volume(s) volume(s) per share ----- ---------------------------- --------------------- --------------- 3.25 pence 750,000 -------------------------------------------------------- --------------- d. Aggregated information Options over 750,000 ordinary - Aggregated shares with an exercise price Volume of 3.25pence each - Price ----- ---------------------------- ------------------------------------------ e. Date of the 19 December 2017 transaction ----- ---------------------------- ------------------------------------------ f. Place of the London AIM transaction ----- ---------------------------- ------------------------------------------ Notification of a Transaction pursuant to Article 19(1) of Regulation (EU) No. 596/2014 ------------------------------------------------------------------------------- 1 Details of the person discharging managerial responsibilities/person closely associated ----- ------------------------------------------------------------------------ a. Name Steven Poulton ------------------------------------------ 2 Reason for 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 Stellar Diamonds Plc ----- ---------------------------- ------------------------------------------ b. LEI 213800BFLH23MYBBNC62 ----- ---------------------------- ------------------------------------------ 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 Ordinary Shares of 1 pence each of the financial instrument, type of instrument GB00BYZ5QT80 Identification Code ----- ---------------------------- ------------------------------------------ b. Nature of the Grant of options over new Ordinary transaction Shares ----- ---------------------------- ------------------------------------------ c. Price(s) and Price(s) Volume(s) volume(s) per share ----- ---------------------------- --------------------- --------------- 3.25 pence 750,000 -------------------------------------------------------- --------------- d. Aggregated information Options over 750,000 ordinary - Aggregated shares with an exercise price Volume of 3.25pence each - Price ----- ---------------------------- ------------------------------------------ e. Date of the 19 December 2017 transaction ----- ---------------------------- ------------------------------------------ f. Place of the London AIM transaction ----- ---------------------------- ------------------------------------------ Notification of a Transaction pursuant to Article 19(1) of Regulation (EU) No. 596/2014 ------------------------------------------------------------------------------- 1 Details of the person discharging managerial responsibilities/person closely associated ----- ------------------------------------------------------------------------ a. Name Rowan Carr ------------------------------------------ 2 Reason for notification ----- ---------------------------- ------------------------------------------ a. Position/Status Senior Manager ----- ---------------------------- ------------------------------------------ b. Initial notification/ Initial notification Amendment ----- ---------------------------- ------------------------------------------ 3 Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor ------------------------------------------------------------------------ a. Name Stellar Diamonds Plc ----- ---------------------------- ------------------------------------------ b. LEI 213800BFLH23MYBBNC62 ----- ---------------------------- ------------------------------------------ 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 Ordinary Shares of 1 pence each of the financial instrument, type of instrument GB00BYZ5QT80 Identification Code ----- ---------------------------- ------------------------------------------ b. Nature of the Grant of options over new Ordinary transaction Shares ----- ---------------------------- ------------------------------------------ c. Price(s) and Price(s) Volume(s) volume(s) per share ----- ---------------------------- --------------------- --------------- 3.25 pence 1,250,000 -------------------------------------------------------- --------------- d. Aggregated information Options over 1,250,000 ordinary - Aggregated shares with an exercise price Volume of 3.25pence each - Price ----- ---------------------------- ------------------------------------------ e. Date of the 19 December 2017 transaction ----- ---------------------------- ------------------------------------------ f. Place of the London AIM transaction ----- ---------------------------- ------------------------------------------
** ENDS **
This information is provided by RNS
The company news service from the London Stock Exchange
END
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(END) Dow Jones Newswires
December 20, 2017 05:47 ET (10:47 GMT)
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