17:00 Thu 09 Aug 2018
Strategic Minerals - Exercise of Options, Allocation of New Options
Market Abuse Regulation (MAR) Disclosure
Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.
("Strategic Minerals" or the "Company")
Exercise of Directors' Options, Issue of Equity and Grant of New Options
Options Exercise
Upon allocation of these new Ordinary Shares,
Issue of Equity
Application will be made for 6,500,000 new Ordinary Shares to be admitted to trading on the AIM market of the
Following the issue of new Ordinary Shares in connection with the above share option exercise, the total issued share capital of the Company consists of 1,382,693,127 Ordinary Shares with voting rights. The Company does not hold any Ordinary Shares in treasury. Therefore, the total number of voting rights in the Company is 1,382,693,127 and this figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the
Grant of New Options
· Tranche 1 - Vesting Price £0.0550, Exercise Price £0.0275, Maturity
· Tranche 2 - Vesting Price £0.0750, Exercise Price £0.0375, Maturity
· Tranche 3 - Vesting Price £0.1000, Exercise Price £0.0500, Maturity
Following the grant of a total of 50,750,000 options across the three tranches the total number of options outstanding in the capital of the Company is 197,250,000 of which 18,500,000 are deemed to have vested. The full break down of new options granted appears in Table 1.
Management, as ratified by the Board, has also indicated to employees and strategic consultants that, subject to performance, a similar grant of options will be made one year from now. This does not affect the Company's overarching requirement to ensure that options representing no more than 10% of the Company's issued Ordinary Share capital (currently 1,382,693,127 Ordinary Shares) can be vested at any time.
Commenting,
"The exercise of vested options by all entitled Directors highlights the confidence of the Board and how significantly invested it is in the Company's future success. It is also a reminder of Management's clear alignment with shareholders.
"The Company's shareholder approved option programme is designed to align, recognise and reward the efforts of directors, employees and strategic consultants of the Company across all four project areas (Cobre,
"Whilst the Company has been progressing steadily on its projects, July has been a quiet news flow period, as is sometimes the case, but the Board anticipates the period ahead will see an uptick in news activity and looks forward to updating shareholders on progress in due course."
Table 1: Options Granted
Recipient |
Tranche 1* |
Tranche 2* |
Tranche 3* |
Directors |
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12,000,000 |
5,500,000 |
2,500,000 |
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12,000,000 |
Nil |
Nil |
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24,000,000 |
5,500,000 |
2,500,000 |
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6,000,000 |
2,750,000 |
1,250,000 |
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1,500,000 |
700,000 |
300,000 |
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625,000 |
275,000 |
100,000 |
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625,000 |
275,000 |
100,000 |
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500,000 |
250,000 |
100,000 |
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500,000 |
250,000 |
100,000 |
Nic Karakashov |
500,000 |
250,000 |
100,000 |
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500,000 |
250,000 |
100,000 |
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500,000 |
250,000 |
100,000 |
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11,250,000 |
5,250,000 |
2,250,000 |
Total |
35,250,000 |
10,750,000 |
4,750,000 |
* Details of vesting conditions, exercise price and term are set out under the heading "Options Allocation" above.
For further information, please contact: |
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+61 (0) 414 727 965 |
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Managing Director |
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Follow Strategic Minerals on: |
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Vox Markets: |
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Twitter: |
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LinkedIn: |
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Facebook: |
https://www.facebook.com/search/top/?q=strategic%20minerals%20plc |
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+44 (0)20 3470 0470 |
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Nominated Adviser and Broker |
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Yellow Jersey PR |
+44 (0)20 3735 8825 |
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Financial PR |
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+44 (0)7747 788 221 |
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+44 (0)7769 325 254 |
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+44 (0)7951 402 336 |
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Notes to Editors
In
In
In
In
PDMR Disclosure
The notifications below, made in accordance with the requirements of the EU Market Abuse Regulation, provide further detail on the director's share dealing.
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them.
1. |
Details of the person discharging managerial responsibilities/person closely associated |
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(a) |
Full name of person Dealing |
i. ii. iii. |
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2. |
Reason for notification |
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(b) |
Position/status |
i. Managing Director ii. Executive Director iii. Non-Executive Chairman |
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(c) |
Initial notification/ Amendment |
Initial notification |
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3. |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
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(d) |
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(e) |
LEI |
213800DICA5NPVOJT776 |
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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 |
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(f) |
Description of the financial instrument, type of instrument |
Ordinary shares of |
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(g) |
Identification code |
GB00B4W8PD74 |
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(h) |
Nature of the transaction |
Issue of ordinary shares as a result of the exercise of unlisted options |
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(i) |
Price(s) and volume(s) |
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(j) |
Aggregated information: - Aggregated volume - Price |
Single transaction as in 4(d) above
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(k) |
Date of transaction |
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(l) |
Place of transaction |
Outside a trading venue |
1. |
Details of the person discharging managerial responsibilities/person closely associated |
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(a) |
Full name of person Dealing |
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2. |
Reason for notification |
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(b) |
Position/status |
Non-Executive Director |
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(c) |
Initial notification/ Amendment |
Initial notification |
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3. |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
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(d) |
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(e) |
LEI |
213800DICA5NPVOJT776 |
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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 |
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(f) |
Description of the financial instrument, type of instrument |
Options over ordinary shares of |
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(g) |
Identification code |
GB00B4W8PD74 |
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(h) |
Nature of the transaction |
Grant of options over ordinary shares |
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(i) |
Price(s) and volume(s) |
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(j) |
Aggregated information: - Aggregated volume - Price |
Single transaction as in 4(d) above
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(k) |
Date of transaction |
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(l) |
Place of transaction |
Outside a trading venue |
1. |
Details of the person discharging managerial responsibilities/person closely associated |
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(a) |
Full name of person Dealing |
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2. |
Reason for notification |
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(b) |
Position/status |
Executive Director |
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(c) |
Initial notification/ Amendment |
Initial notification |
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3. |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
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(d) |
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(e) |
LEI |
213800DICA5NPVOJT776 |
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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 |
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(f) |
Description of the financial instrument, type of instrument |
Options over ordinary shares of |
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(g) |
Identification code |
GB00B4W8PD74 |
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(h) |
Nature of the transaction |
Grant of options over ordinary shares |
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(i) |
Price(s) and volume(s) |
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(j) |
Aggregated information: - Aggregated volume - Price |
Single transaction as in 4(d) above
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(k) |
Date of transaction |
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(l) |
Place of transaction |
Outside a trading venue |
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