TIDMALBA
RNS Number : 9365M
Alba Mineral Resources PLC
02 May 2018
Alba Mineral Resources plc
("Alba" or the "Company")
Grant of Share Warrants and Share Options
Alba Mineral Resources plc (AIM: ALBA) (the "Company" or "Alba")
announces that the remuneration committee has today awarded
warrants and options over a total of 107 million shares in the
Company, as follows:
George Frangeskides (Executive Chairman):
60 million share options vesting as follows:
No. Vesting date
15,000,000 31/12/2018
15,000,000 30/6/2019
15,000,000 31/12/2019
15,000,000 30/6/2020
60,000,000
These options are issued pursuant to the Company's existing
Enterprise Management Incentive plan ("EMI scheme"), have an
exercise price of 0.42p and expire on the tenth anniversary of
grant if not exercised.
Share options granted pursuant to the EMI scheme are subject to
accelerated vesting in certain circumstances, including pursuant to
a change of control of the Company following a completed takeover
offer.
Michael Nott (Non-Executive Director):
12 million share warrants vesting 31/12/18 at an exercise price
of 0.42p and an expiration date of 27 March 2021. These share
warrants are not issued pursuant to the EMI scheme.
Management and Consultants:
A further 35 million share warrants are being awarded to
management and consultants of the Company, also at an exercise
price of 0.42p and an expiry date of 27 March 2021, with varying
vesting dates.
Together with the share options and share warrants previously
issued to the Directors, the total number of share options and
share warrants granted to the Directors (both vested and unvested)
is 202 million. This represents approximately 7.1 per cent. of the
issued share capital of the Company, taking into account the shares
to be issued pursuant to the placing announced earlier today.
The awards to directors described above are deemed to be a
related party transaction for the purposes of Rule 13 of the AIM
Rules. Mr Manuel Lamboley, being the sole director independent of
the transaction for the purposes of the awards, considers, having
consulted with the Company's Nominated Adviser, that the terms of
the awards are fair and reasonable insofar as the Shareholders are
concerned.
Including these option and warrant grants, the Company has now
granted options over a total of 280 million ordinary shares in the
capital of the Company. Therefore the fully diluted issued share
capital of the Company is 3,050,614,934 ordinary shares in the
capital of the Company (assuming all options and warrants, vested
and unvested, exercised and exercisable, were converted).
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014.
For further information please contact:
Alba Mineral Resources plc
George Frangeskides, Executive Chairman +44 20 7264 4366
Cairn Financial Advisers LLP (Nomad)
James Caithie / Liam Murray / Richard Nash +44 20 7213 0880
First Equity Limited (Broker)
Jason Robertson +44 20 7374 2212
This information set out below is provided in accordance with
Article 19(3) of EU Regulation 596/2014.
1. Details of PDMR / person closely associated
--- ----------------------------------------------------------------------------------------------------
a) Name (i) George Frangeskides
(ii) Michael Nott
--- ------------------------------------------------ --------------------------------------------------
2. Reason for the notification
--- ----------------------------------------------------------------------------------------------------
a) Position / status (i) Executive Chairman
(ii) Non-Executive Director
--- ------------------------------------------------ --------------------------------------------------
b) Initial notification /amendment Initial notification
--- ------------------------------------------------ --------------------------------------------------
3. Details of the issuer
--- ----------------------------------------------------------------------------------------------------
a) Name Alba Mineral Resources plc
--- ------------------------------------------------ --------------------------------------------------
b) LEI 213800Z1BU53AWR9J329
--- ------------------------------------------------ --------------------------------------------------
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 instrument Ordinary Shares of 0.1p each
--- ------------------------------------------------ --------------------------------------------------
b) Identification code of the Financial Instrument ISIN for Alba Mineral Resources plc: GB00B06KBB18
--- ------------------------------------------------ --------------------------------------------------
c) Nature of the transaction Grant of options and warrants
--- ------------------------------------------------ --------------------------------------------------
d) Price(s) and volume(s) Price Volume
(i) 0.42p (i) 60,000,000
(ii) 0.42p (ii) 12,000,000
--- ------------------------------------------------ --------------------------------------------------
f) Date of the transaction 2 May 2018
--- ------------------------------------------------ --------------------------------------------------
g) Place of the transaction Outside a trading venue
--- ------------------------------------------------ --------------------------------------------------
Alba's Principal Operations & Investments
Oil & Gas
Horse Hill (Oil & Gas, UK): Alba holds an 18.1 per cent
interest in Horse Hill Developments Limited, the company which has
a 65 per cent participating interest and operatorship of the Horse
Hill oil and gas project (licences PEDL 137 and PEDL 246) in the UK
Weald Basin.
Brockham (Oil & Gas, UK): Alba has a direct 5 per cent
interest in Production Licence 235, which comprises the producing
onshore Brockham Oil Field.
Mining
Amitsoq (Graphite, Greenland): Alba owns a 90 per cent interest
in the Amitsoq Graphite Project in Southern Greenland and has an
option over the remaining 10 per cent.
Thule Black Sands (Ilmenite, Greenland): Alba owns 100 per cent
of mineral exploration licences 2017/29 and 2017/39 in the Thule
region, north-west Greenland.
Gold Mines of Wales (Gold, Wales, UK): Alba holds a 49 per cent
interest in Gold Mines of Wales, the ultimate owner of the Clogau
Gold project situated in the Dolgellau Gold Belt in Wales.
Inglefield Land (Multi-Commodity, Greenland): Alba owns 100 per
cent of mineral exploration licences 2017/40 and 2018/15 in
north-west Greenland.
Melville Bay (Iron Ore, Greenland): Alba is entitled to a 51 per
cent interest in mineral exploration licence 2017/41 in Melville
Bay, north-west Greenland. The licence area benefits from an
existing inferred JORC resource of 67 Mt @ 31.4% Fe.
Web: www.albamineralresources.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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