Zinnwald Lithium PLC Issuance of RSUs and Options (5599Y)

TIDMZNWD

RNS Number : 5599Y

Zinnwald Lithium PLC

17 January 2022

17 January 2022

Zinnwald Lithium plc

("Zinnwald Lithium" or the "Company")

Issuance of RSUs and Options

Zinnwald Lithium plc (AIM: ZNWD), the German focussed lithium development company, announces the grant of a total of 1,909,530 Restricted Share Units ("RSUs") and 4,000,000 Options under the Company's Long-Term Incentive Plans.

The RSUs being granted to Executive Management under the terms of the RSU Scheme, approved by shareholders in October 2020 as part of its reverse takeover transaction, relate to the first performance period that ran from 1 October 2020 to 31 December 2021. The RSUs will vest two years from the date of grant, being 15 January 2024, and the related shares (or cash alternative at the Company's discretion) will be issued on that date. Full details of the RSUs are set out in the Company's admission document dated 9 October 2020. The RSUs are being granted to Executive Management on the following basis:

 
 Name                Role    No of RSUs        Grant Date      Vesting Date 
 Anton du Plessis    CEO      1,305,249   15 January 2022   15 January 2024 
 Cherif Rifaat       CFO        604,282   15 January 2022   15 January 2024 
 Total                        1,909,531 
 

The 4,000,000 Options have been granted to employees, consultants and Directors under the terms of the Scheme put in place at the time of the Company's original IPO in 2017. These Options to acquire ordinary shares in the capital of the Company have been granted at a price of 18.10p, being the closing share price on 14 January 2022. Such options vest as to 1/3 on the date of grant and an additional 1/3 on each of the first and second anniversaries of the date of grant and are exercisable for a period of five years. The Options are being granted on the following basis:

 
 Name             Role                 No of   Issue       Grant Date   Expiry Date 
                                     Options    Price 
 Jeremy Martin    Non-Executive      250,000   GBP0.1810   15 January   15 January 
                   Chairman                                 2022         2027 
 Graham Brown     Non-Executive      150,000   GBP0.1810   15 January   15 January 
                   Director                                 2022         2027 
 Peter Secker     Non-Executive      150,000   GBP0.1810   15 January   15 January 
                   Director                                 2022         2027 
 Employees and Consultants         3,450,000   GBP0.1810   15 January   15 January 
                                                            2022         2027 
 Total                             4,000,000 
 

On issuance of these awards, the total number of RSUs in issue will be 1,909,531 and the total number of Options will be 5,900,000, which represents a combined 2.66 per cent. of the Company's current issued share capital.

Change to Broker

The Company also announces that, with effect from 29 January 2022, Oberon Capital Limited shall be the sole broker for the Company on the expiry of a three month notice period with Turner Pope Investments (TPI) Ltd. The Company would like to thank Turner Pope for all their work as Broker since the Company's IPO on AIM in December 2017.

For further information contact:

 
 Anton du Plessis           Zinnwald Lithium plc             [e-mail] 
                            Allenby Capital Limited          [phone] 
 David Hart/Liz Kirchner     (Nominated Adviser)              5656 
                                                             [phone] 
 Mike Seabrook /                                              5344 
  Robert Hayward /          Oberon Capital                    [phone] 
  Chris Crawford             (Joint Broker)                   5315 
                            Turner Pope Investments 
 James Pope/Andy             (TPI) Ltd                       [phone] 
  Thacker                    (Joint Broker)                   0050 
 Isabel de Salis/Frank      St Brides Partners (Financial    [e-mail] 
  Buhagiar                   PR) 
 

Notes

Zinnwald Lithium plc (EPIC: ZNWD.L) is an AIM quoted, German focused lithium development company focussed on becoming an important supplier to Europe's fast-growing battery sector. The Company owns the Zinnwald Lithium Project in Germany, a late-stage development project with attractive economics and approved mining licence. A Feasibility Study, published in June 2019, highlighted a EUR428m pre-tax NPV, a pre-tax IRR of 27.4% and a 46% EBITDA margin for Zinnwald. The project is located in the heart of Europe's chemical and automotive industries and has the potential to be one of Europe's most advanced battery grade lithium projects.

 
 1    Details of the person discharging managerial responsibilities 
       / person closely associated 
 a)   Name                         Name               Position 
                                    Anton du Plessis   CEO 
                                                      --------- 
                                    Cherif Rifaat      CFO 
                                                      --------- 
     --------------------------  ------------------------------------------- 
 2    Reason for the notification 
     ----------------------------------------------------------------------- 
 a)   Position/status             See 1a) 
     --------------------------  ------------------------------------------- 
 b)   Initial notification        Initial notification 
       /Amendment 
     --------------------------  ------------------------------------------- 
 3    Details of the issuer, emission allowance market participant, 
       auction platform, auctioneer or auction monitor 
     ----------------------------------------------------------------------- 
 a)   Name                        Zinnwald Lithium plc 
     --------------------------  ------------------------------------------- 
 b)   LEI                         213800LXW3HPZ7ZSBE37 
     --------------------------  ------------------------------------------- 
 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          RSUs in relation to ordinary 
       financial instrument,       shares of GBP0.01 each in Zinnwald 
       type of instrument          Lithium plc (or cash alternative 
       Identification code         at the Company's discretion) 
 
                                   Identification code (ISIN) for 
                                   Zinnwald Lithium plc ordinary 
                                   shares: GB00BFN4GY99 
     --------------------------  ------------------------------------------- 
 b)   Nature of the transaction   Grant of RSUs 
     --------------------------  ------------------------------------------- 
 c)   Price(s) and volume(s)      Name                Price(s)    Volume(s) 
                                   Anton du Plessis    n/a         1,305,249 
                                   Cherif Rifaat       n/a         604,282 
                                                      ----------  ---------- 
     --------------------------  ------------------------------------------- 
 d)   Aggregated information      n/a 
       - Aggregated volume 
       - Price 
     --------------------------  ------------------------------------------- 
 e)   Date of the transaction     15 January 2022 
     --------------------------  ------------------------------------------- 
 f)   Place of the transaction    Outside a trading venue 
     --------------------------  ------------------------------------------- 
 
 
 1    Details of the person discharging managerial responsibilities 
       / person closely associated 
 a)   Name                         Name            Position 
                                    Jeremy Martin   Non-Executive Chairman 
                                                   ----------------------- 
                                    Graham Brown    Non-Executive Director 
                                                   ----------------------- 
                                    Peter Secker    Non-Executive Director 
                                                   ----------------------- 
     --------------------------  ------------------------------------------- 
 2    Reason for the notification 
     ----------------------------------------------------------------------- 
 a)   Position/status             See 1a) 
     --------------------------  ------------------------------------------- 
 b)   Initial notification        Initial notification 
       /Amendment 
     --------------------------  ------------------------------------------- 
 3    Details of the issuer, emission allowance market participant, 
       auction platform, auctioneer or auction monitor 
     ----------------------------------------------------------------------- 
 a)   Name                        Zinnwald Lithium plc 
     --------------------------  ------------------------------------------- 
 b)   LEI                         213800LXW3HPZ7ZSBE37 
     --------------------------  ------------------------------------------- 
 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 GBP0.01 
       financial instrument,       each in Zinnwald Lithium plc 
       type of instrument 
       Identification code         Identification code (ISIN) for Zinnwald 
                                   Lithium plc ordinary shares: GB00BFN4GY99 

     --------------------------  ------------------------------------------- 
 b)   Nature of the transaction   Grant of options over ordinary shares 
     --------------------------  ------------------------------------------- 
 c)   Price(s) and volume(s)      Name             Price(s)     Volume(s) 
                                   Jeremy Martin    GBP0.1810    250,000 
                                   Graham Brown     GBP0.1810    150,000 
                                   Peter Secker     GBP0.1810    150,000 
                                                   -----------  ---------- 
     --------------------------  ------------------------------------------- 
 d)   Aggregated information      n/a 
       - Aggregated volume 
       - Price 
     --------------------------  ------------------------------------------- 
 e)   Date of the transaction     15 January 2022 
     --------------------------  ------------------------------------------- 
 f)   Place of the transaction    Outside a trading venue 
     --------------------------  ------------------------------------------- 
 

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January 17, 2022 02:01 ET (07:01 GMT)