Anglesey Mining PLC Issuance of Share Options to Directors and Employees
04 August 2022 - 9:54PM
UK Regulatory
TIDMAYM
Trading Symbol
AIM: AYM
4 August 2022
Anglesey Mining plc
("Anglesey" or "the Company")
Issuance of Share Options to Directors and Employees
Director/PDMR Shareholding
Anglesey Mining plc (AIM:AYM), the UK minerals development company, today
announces that the Board has approved the issuance of options to directors and
employees of the Company.
The Company's policy on director and executive compensation is to provide
compensation to directors and management to ensure directors and senior
management are appropriately compensated, motivated and retained. It is
considered important that the contribution of directors be recognized, and that
directors be incentivized to help move the Company forward.
Today's award of share options (the "Options") to the directors and employees
will have an exercise price of £0.04, representing a premium of 38% to the
closing share price of £0.029 on 3 August 2022. A total of 10,900,000 Options
have been granted. The Options are subject to time-based vesting conditions
(with 25% of Options vesting on 31 March 2023, 25% on 30 September 2023, 25% on
31 March 2024 and 25% on 30 September 2024. The Options will lapse on 31 March
2030).
The award of the Options represents the first issuance of share options to
directors and employees since September 2016. The non-executive directors of
the Company had also previously waived the payment of cash fees since July
2014.
Details of Awards
Details of the awards to Directors and PDMRs are presented in the following
table:
Director Number of Options Exercise Price per Options as a per cent
Granted Share Option of existing issued
share capital1
John F Kearney 2,000,000 £0.04 0.71%
Jo Battershill 2,800,000 £0.04 1.00%
Danesh Varma 1,500,000 £0.04 0.54%
Howard Miller 1,000,000 £0.04 0.36%
Namrata Verma 1,000,000 £0.04 0.36%
Andrew J King 1,000,000 £0.04 0.36%
1 Existing issued share capital of 280,175,721 ordinary shares
There are no other options to directors and PDMRs issued or outstanding.
Related Party Transaction
The grant of the Options to the Directors as described in this announcement
constitutes a related party transaction for the purposes of Rule 13 of the AIM
Rules. Davy, as the Company's nominated adviser, considers that the terms of
the transaction are fair and reasonable insofar as the Company's shareholders
are concerned.
Award of Ordinary Shares to Chief Executive
Following the achievement of certain agreed milestones, the Board has also
approved the issuance of 500,000 ordinary shares (the "New Ordinary Shares") to
Jonathan (Jo) Battershill, Chief Executive. Application will be made to the
London Stock Exchange for admission of the New Ordinary Shares to trading on
the AIM market of the London Stock Exchange. It is expected that admission will
become effective and dealings in the New Ordinary Shares will commence on AIM
at 8.00 a.m. on or around 10 August 2022.
Following admission of the New Ordinary Shares, the Company's issued share
capital will comprise 280,675,721 ordinary shares. This figure may be used by
shareholders as the denominator for the calculations by which they will
determine if they are required to notify their interest in, or a change to
their interest in, the Company's share capital pursuant to (i) the Company's
Articles, (ii) the Financial Conduct Authority's Disclosure Guidance and
Transparency Rules and/or (iii) the AIM Rules for Companies issued by the
London Stock Exchange plc as amended from time to time. The New Ordinary Shares
will be issued fully paid and will rank pari passu in all respects with the
Company's existing Ordinary Shares.
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
a) Name: i. John Kearney
ii. Jo Battershill
iii. Danesh Varma
iv. Howard Miller
v. Namrata Verma
vi. Andrew J King
2. Reason for the notification
a) Position/status: i. Chairman (PDMR)
ii. Chief Executive (PDMR)
iii. Finance Director (PDMR)
iv. Non-Executive Director (PDMR)
v. Independent Non-Executive
Director (PDMR)
vi. Independent Non-Executive
Director (PDMR)
b) Initial notification/Amendment: Initial notification
3. Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name: Anglesey Mining Plc
b) LEI: 213800X8BO8EK2B4HQ71
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 financial Share options over ordinary shares
instrument, type of instrument: of 1 pence each
Identification code:
ISIN: GB0000320472
b) Nature of the transaction: Award of share options over
ordinary shares. Each option has an
exercise price of £0.04. The
options are subject to time-based
vesting conditions (with 25% of
Options vesting on 31 March 2023,
25% on 30 September 2023, 25% on 31
March 2024 and 25% on 30 September
2024. The Options will lapse on 31
March 2030).
c) Price(s) and volume(s): Price(s) Volume(s)
i. 4 pence i. 2,000,000
ii. 4 pence ii. 2,800,000
iii. 4 pence iii. 1,500,000
iv. 4 pence iv. 1,000,000
v. 4 pence v. 1,000,000
vi. 4 pence vi. 1,000,000
d) Aggregated information: Price(s) Volume(s)
Aggregated volume:
Price: 4 pence 9,300,000
e) Date of the transaction: i. 3 August 2022
ii. 3 August 2022
iii. 3 August 2022
iv. 3 August 2022
v. 3 August 2022
vi. 3 August 2022
f) Place of the transaction: Outside a trading venue
1. Details of the person discharging managerial responsibilities/person
closely associated
a) Name: Jonathan (Jo) Battershill
2. Reason for the notification
a) Position/status: Chief Executive (PDMR)
b) Initial notification/Amendment: Initial notification
3. Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name: Anglesey Mining Plc
b) LEI: 213800X8BO8EK2B4HQ71
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 financial Ordinary shares of 1 pence each
instrument, type of instrument:
Identification code: ISIN: GB0000320472
b) Nature of the transaction: Award of Ordinary Shares in respect
of achievement of performance
milestones
c) Price(s) and volume(s): Price(s) Volume(s)
Nil 500,000
d) Aggregated information: N/a - single transaction
Aggregated volume:
Price:
e) Date of the transaction: 3 August 2022
f) Place of the transaction: Outside a trading venue
About Anglesey Mining plc
Anglesey Mining is traded on the AIM market of the London Stock Exchange and
currently has 280,175,721 ordinary shares on issue.
Anglesey is developing its 100% owned Parys Mountain Cu-Zn-Pb-Ag-Au deposit in
North Wales, UK with a 2020 reported resource of 5.2 million tonnes at 4.3%
combined base metals in the Indicated category and 11.7 million tonnes at 2.8%
combined base metals in the Inferred category.
Anglesey holds an almost 20% interest in the Grangesberg Iron project in
Sweden, together with management rights and a right of first refusal to
increase its interest to 70%. Anglesey also holds 11% of Labrador Iron Mines
Holdings Limited, which through its 52% owned subsidiaries, is engaged in the
exploration and development of direct shipping iron ore deposits in Labrador
and Quebec.
For further information, please contact:
Anglesey Mining plc
Jo Battershill, Chief Executive - Tel: +44 (0)7540 366000
John Kearney, Chairman - Tel: +1 647 728 4106
Davy
Nominated Adviser & Joint Corporate Broker
Brian Garrahy / Lauren O'Sullivan - Tel: +353 1 679 6363
WH Ireland
Joint Corporate Broker
Katy Mitchell / Harry Ansell - Tel: +44 (0) 207 220 1666
Canaccord Genuity Limited
Joint Corporate Broker
James Asensio / Harry Rees - Tel: +44 (0) 20 7523 8000
Scout Advisory Limited
Investor Relations Consultant
Sean Wade - Tel: +44 (0) 7464 609025
LEI: 213800X8BO8EK2B4HQ71
END
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