Arc Minerals Limited announces that upon the recommendation of the Company's Remuneration Committee additional options have been granted to Rémy Welschinger pursuant to his appointment as Finance Director on 1 November 2019, in order to bring his total number of options in line with that of the Board of Directors of Arc. Rémy has been granted options over 2,980,000 new ordinary shares of no par value ("Ordinary Shares") of the Company ("Share Options") with an exercise price of 4.5 pence per Ordinary Share, which represents an approximate 73% premium over the closing mid-price of 2.6p on 21 November 2019. The Share Options will expire on 22 November 2024.
Following the grant of the Share Options there will be a total of 52,226,115 share options over unissued Ordinary Shares granted to directors, senior management and consultants of the Company, representing approximately 7.08% of the Company's current issued Ordinary Share capital of 737,927,497 Ordinary Shares.
Further details concerning the grant of Share Options to PDMRs are set out below.
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.
NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM:
Details of the person discharging managerial responsibilities/person closely associated
Reason for the notification
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
Arc Minerals Limited
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
Description of the financial instrument, type of instrument:
Ordinary shares of no par value
Nature of the transaction:
Grant of options over ordinary shares
Price(s) and volume(s):
Single transactions as in 4 c) above
Date of the transaction:
Place of the transaction:
Outside a trading venue
Arc Minerals Ltd
Nick von Schirnding (Chairman)
+44 (0) 20 7917 2942
SP Angel (Nominated Adviser & Broker)
Ewan Leggat / Soltan Tagiev
+44 (0) 20 3470 0470
Notes to the Editors
Arc Minerals Ltd is an AIM listed exploration and mine development company focused on a diversified portfolio of mining projects with interests in Slovakia, Eritrea, the Democratic Republic of the Congo and Zambia.
Arc Minerals current holdings include:
● 99.43% interest in Casa Mining Limited, a private company that has a 73.84% interest in the 3-million-ounce inferred Resource Akyanga gold deposit in the DRC.
● A 66% equity interest in Zamsort Limited ("Zamsort"), a private company focused on a prospective copper and cobalt licence in the Zambia Copperbelt, together with a convertible loan to Zamsort which converts into approximately a five percent additional equity interest in Zamsort.
● A 47.5% equity interest in Zaco Limited ("Zaco"), a private company focused on a prospective copper and cobalt licence in the Zambia Copperbelt.
● 100% ownership of the Kremnica Mining Licence Area in Slovakia which host the 1.3Moz AuEq Au PFS stage Ṧturec Gold Project.
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 [email protected] or visit www.rns.com.
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