Xtract Resources plc Award of Share Options (2475Q)

TIDMXTR

RNS Number : 2475Q

Xtract Resources plc

24 February 2021

For immediate release

24 February 2021

Xtract Resources Plc

("Xtract" or the "Company")

Award of Share Options

Director / PDMR Shareholding

Award of Share Options

The Board of Xtract announces that on 24 February 2021, the Company awarded 24,800,000 new options over ordinary shares ("New Options"). 16,000,000 New Options (representing 2.17 per cent. of the current issued share capital) have been awarded to Directors (other than Peter Moir, Non-executive Director who chaired the Remuneration Committee and who has approved the option award) and a further 8,800,000 New Options (representing 1.20 per cent. of the current issued share capital) have been awarded to employees, consultants and officers of the Company.

The New Options vest and are exercisable immediately on award, with an exercise price of 10.00p. The New Options will lapse five years after the date of the award, being 24 July 2026.

The exercise price represents a 61 per cent. premium to the Xtract ordinary share mid-market closing price of 6.20p as at 23 February 2021, and a 83 per cent. premium to the 30-day volume weighted average share price for the 30 trading days ended 23 February 2021.

Further details of the New Options awards are as follows:

 
                      Number of 
Individual          New Options 
-----------------  ------------ 
Directors: 
Colin Bird           10,000,000 
Jeremy Read           1,000,000 
Alastair Ford         1,000,000 
Joel Silberstein      4,000,000 
Other PDMR(s): 
Eduard Victor         2,000,000 
Employees: 
Other                 6,800,000 
Total                24,800,000 
                   ------------ 
 

A copy of this announcement: www.xtractresources.com

Enquiries :

 
 Xtract Resources Plc         Colin Bird,           [phone] 
                               Executive Chairman    www.xtractresources.com 
 Beaumont Cornish Limited     Roland Cornish        [phone] 
  Nominated Adviser and        Michael Cornish       www.beaumontcornish.co.uk 
  Joint Broker                 Felicity Geidt 
 
   Novum Securities Limited     Jon Bellis            [phone] 
   Joint Broker                 Colin Rowbury         www.novumsecurities.com 
 

The following disclosure is made in accordance with Article 19 of the EU Market Abuse Regulation 596/2014.

 
 1    Details of the person discharging managerial responsibilities 
       / person closely associated 
 a)   Name                             1. Colin Bird 
                                        2. Joel Silberstein 
                                        3. Alastair Ford 
                                        4. Jeremy Read 
                                        5. Eduard Victor 
     --------------------------  --------------------------------------------------------------------------- 
 2    Reason for the notification 
     ------------------------------------------------------------------------------------------------------- 
 a)   Position/status             1. Chairman 
                                   2. Finance Director 
                                   3. Non-Executive Director 
                                   4. Non-Executive Director 
                                   5. Chief Operating Officer (Non-Board) 
     --------------------------  --------------------------------------------------------------------------- 
 b)   Initial notification        Initial Notification 
       /Amendment 
     --------------------------  --------------------------------------------------------------------------- 
 3    Details of the issuer, emission allowance market participant, 
       auction platform, auctioneer or auction monitor 
     ------------------------------------------------------------------------------------------------------- 
 a)   Name                        Xtract Resources plc 
     --------------------------  --------------------------------------------------------------------------- 
 b)   LEI                         213800A71LZ79EKUNC34 
     --------------------------  --------------------------------------------------------------------------- 
 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          Options over Ordinary Shares of 0.02p each 
       financial instrument,       ("Ordinary Shares") 
       type of instrument 
 
      Identification code         ISIN: GB00BYSX2795 
 
 b)   Nature of the transaction   Issue of Options over Ordinary Shares 
     --------------------------  --------------------------------------------------------------------------- 
 c)   Price(s) and volume(s)        Director            Price payable on exercise of option     Volume(s) 
                                     -----------------  --------------------------------------  ---------- 
                                     Colin Bird               P              10.00              10,000,000 
                                     Joel Silberstein         P              10.00               4,000,000 
                                     Alastair Ford            p              10.00               1,000,000 
                                     Jeremy Read              p              10.00               1,000,000 
                                     Eduard Victor            p              10.00               2,000,000 
                                   ----------------------------------------------------------------------- 
 
 d)   Aggregated information 
 
      - Aggregated volume         18,000,000 options over Ordinary Shares 
 
      - Price                     18,000,000 exercisable at 10.00p 
 
 e)   Date of the transaction     24 February 2021 
     --------------------------  --------------------------------------------------------------------------- 
 f)   Place of the transaction    Outside a trading venue 
     --------------------------  --------------------------------------------------------------------------- 
 

ENDS

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 [e-mail] or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

DSHDKQBBABKDBBB

(END) Dow Jones Newswires

February 24, 2021 11:34 ET (16:34 GMT)