TIDMATM

RNS Number : 8674H

AfriTin Mining Ltd

08 April 2022

8 April 2021

AfriTin Mining Limited

("AfriTin", "ATM" or the "Company"

and with its subsidiaries the "Group")

Issue of Share Options

AfriTin Mining Limited (AIM: ATM), an African tin mining company with its flagship asset, the Uis Tin Mine ("Uis") in Namibia announces today that it has issued options over 54,310,000 ordinary shares as part of its Long-Term Incentive Scheme to certain Directors, PDMRs and employees of the Company. These are in line with the established share option scheme of the Company to both reward and incentivise key employees, as per the company's reward policies.

These share options vest in three tranches over three years (tranche 1 on 8 April 2023, tranche 2 on 8 April 2024 and trance 3 on 8 April 2024) and are exercisable at a price of 9.8p; 10.3p and 10.8p. They are conditional only on the continued employment of the relevant recipient as a director or employee of the company at the time of exercise. These share options are in line with the company's remunerations committee policies based on the company's performance and the targets set for the FY of 2021.

The options issued to directors of the Company and PDMRs of the Company are as set out as follows:

 
 Name of Director     Tranche 1             Tranche 2        Tranche 3       Total Options 
                       options (at           options (at      options (at     issued 
                       9.8p). Exercisable    10.3p).          10.8p) 
                       at 12 months.         Exercsiable      Exercisable 
                                             at 24 months.    at 36 months 
 Anthony Viljoen 
  (Director)          3,000,000             1,500,000        1,500,000       6,000,000 
                     --------------------  ---------------  --------------  -------------- 
 Glen Parsons 
  (NED)               1,200,000             600,000          600,000         2,400,000 
                     --------------------  ---------------  --------------  -------------- 
 Laurence Robb 
  (NED)               1,200,000             600,000          600,000         2,400,000 
                     --------------------  ---------------  --------------  -------------- 
 Terence Goodlace 
  (NED)               1,200,000             600,000          600,000         2,400,000 
                     --------------------  ---------------  --------------  -------------- 
 Michael Rawlinson 
  (NED)               1,200,000             600,000          600,000         2,400,000 
                     --------------------  ---------------  --------------  -------------- 
 Rob Sewell 
  (PDMR)              1,500,000             750,000          750,000         3,000,000 
                     --------------------  ---------------  --------------  -------------- 
 Frans Van 
  Daalen (PDMR)       2,400,000             1,200,000        1,200,000       4,800,000 
                     --------------------  ---------------  --------------  -------------- 
 

The information contained within this announcement is deemed by the Group to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ('MAR'). Upon the publication of this announcement via Regulatory Information Service ('RIS'), this inside information is now considered to be in the public domain.

For further information, please visit www.afritinmining.com or contact:

 
 AfriTin Mining Limited                +27 (11) 268 6555 
 Anthony Viljoen, CEO 
 Nominated Adviser                     +44 (0) 207 220 1666 
 WH Ireland Limited 
  Katy Mitchell 
  James Sinclair-Ford 
 Corporate Advisor and Joint Broker 
 H&P Advisory Limited 
  Andrew Chubb 
  Jay Ashfield 
  Nilesh Patel                         +44 (0) 20 7907 8500 
 Tavistock Financial PR (United 
  Kingdom)                             +44 (0) 207 920 3150 
 Jos Simson 
  Emily Moss (nee Fenton) 
 

The information contained within this announcement is deemed by the Company to constitute inside information under the Market Abuse Regulation (EU) No. 596/2014

About AfriTin Mining Limited

Notes to Editors

AfriTin Mining Limited is the first pure tin company listed in London and its vision is to create a portfolio of globally significant, conflict-free, tin-producing assets. The Company's flagship asset is the Uis Tin Mine in Namibia, formerly the world's largest hard-rock open cast tin mine.

AfriTin is managed by an experienced board of directors and management team with a current two-fold strategy: fast-track Uis Tin Mine in Namibia to commercial production as Phase 1, ramping up to 5,000 tonnes of concentrate in a Phase 2 expansion. The Company strives to capitalise on the solid supply/demand fundamentals of tin by developing a critical mass of tin resource inventory, achieving production in the near term and further scaling production by consolidating tin assets in Africa.

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                                 Laurence Robb 
      -----------------------------------  ----------------------------------- 
 2     Reason for the notification 
      ------------------------------------------------------------------------ 
 a)    Position/status                      Non-Executive Director 
      -----------------------------------  ----------------------------------- 
 b)    Initial notification/                Initial notification 
        Amendment 
      -----------------------------------  ----------------------------------- 
 3     Details of the issuer, emission allowance market participant, 
        auction platform, auctioneer or auction monitor 
      ------------------------------------------------------------------------ 
 a)    Name                                 AfriTin Mining plc 
      -----------------------------------  ----------------------------------- 
 b)    LEI 
                                              *    213800FKOXWBL6JBVH90 
      -----------------------------------  ----------------------------------- 
 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                       Ordinary share 
        the financial instrument, 
        type of instrument 
                                             GG00BD95V148 
        Identification 
        code 
      -----------------------------------  ----------------------------------- 
 b)    Nature of the transaction            Issue of options 
      -----------------------------------  ----------------------------------- 
 c)    Price(s) and volume(s)                Price(s)   Volume(s) 
                                              9.8p       1,200,000 
                                               10.3p      600,000 
                                               10.8p      600,000 
                                                        ---------- 
      -----------------------------------  ----------------------------------- 
        Aggregated information 
          *    Aggregated volume 
                                              2,400,000 
 
 d)       *    Price                          10.175p 
      -----------------------------------  ----------------------------------- 
 e)    Date of the transaction              8 April 2022 
      -----------------------------------  ----------------------------------- 
 f)    Place of the transaction             XLON, AIM 
      -----------------------------------  ----------------------------------- 
 
 
 1     Details of the person discharging managerial responsibilities/person 
        closely associated 
 a)    Name                           Glen Parsons 
      -----------------------------  ----------------------------------------- 
 2     Reason for the notification 
      ------------------------------------------------------------------------ 
 a)    Position/status                Chairman 
      -----------------------------  ----------------------------------------- 
 b)    Initial notification/          Initial notification 
        Amendment 
      -----------------------------  ----------------------------------------- 
 3     Details of the issuer, emission allowance market participant, 
        auction platform, auctioneer or auction monitor 
      ------------------------------------------------------------------------ 
 a)    Name                           AfriTin Mining plc 
      -----------------------------  ----------------------------------------- 
 b)    LEI 
                                        *    213800FKOXWBL6JBVH90 
      -----------------------------  ----------------------------------------- 
 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                 Ordinary share 
        the financial instrument, 
        type of instrument 
                                       GG00BD95V148 
        Identification 
        code 
      -----------------------------  ----------------------------------------- 
 b)    Nature of the transaction      Issue of shares in lieu of director fees 
      -----------------------------  ----------------------------------------- 
 c)    Price(s) and volume(s)          Price(s)   Volume(s) 
                                        9.8p       1,200,000 
                                         10.3p      600,000 
                                         10.8p      600,000 
                                                  ---------- 
      -----------------------------  ----------------------------------------- 
        Aggregated information 
          *    Aggregated volume 
                                        2,400,000 
 
 d)       *    Price                    10.175p 
      -----------------------------  ----------------------------------------- 
 e)    Date of the transaction        8 April 2022 
      -----------------------------  ----------------------------------------- 
 f)    Place of the transaction       XLON, AIM 
      -----------------------------  ----------------------------------------- 
 
 
 1      Details of the person discharging managerial responsibilities/person 
         closely associated 
 a)     Name                          Anthony Viljoen 
       ----------------------------  ----------------------------------------------- 
 2      Reason for the notification 
       ----------------------------------------------------------------------------- 
 a)     Position/status               Chief Executive Officer 
       ----------------------------  ----------------------------------------------- 
 b)     Initial notification/         Initial notification 
         Amendment 
       ----------------------------  ----------------------------------------------- 
 3      Details of the issuer, emission allowance market participant, 
         auction platform, auctioneer or auction monitor 
       ----------------------------------------------------------------------------- 
 a)     Name                          AfriTin Mining plc 
       ----------------------------  ----------------------------------------------- 
 b)     LEI 
                                        *    213800FKOXWBL6JBVH90 
       ----------------------------  ----------------------------------------------- 
 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                Ordinary share 
         the financial instrument, 
         type of instrument 
                                       GG00BD95V148 
         Identification 
         code 
       ----------------------------  ----------------------------------------------- 
 b)     Nature of the transaction     Change of exercise price of existing options 
       ----------------------------  ----------------------------------------------- 
 c)     Price(s) and volume(s)         Price(s)   Volume(s) 
                                        9.8p       3,000,000 
                                         10.3p      1,500,000 
                                         10.8p      1,500,000 
                                                  ----------- 
       ----------------------------  ----------------------------------------------- 
 d)      Aggregated information 
     *    Aggregated volume            6,000,000 
                                        10.175p 
 
     *    Price 
 ----------------------------------  ----------------------------------------------- 
 e)     Date of the transaction       8 April 2022 
       ----------------------------  ----------------------------------------------- 
 f)     Place of the transaction      XLON, AIM 
       ----------------------------  ----------------------------------------------- 
 
 
 
 
 1      Details of the person discharging managerial responsibilities/person 
         closely associated 
 a)     Name                          Robert Sewell 
       ----------------------------  ----------------------------------------------- 
 2      Reason for the notification 
       ----------------------------------------------------------------------------- 
 a)     Position/status               Chief Financial Officer 
       ----------------------------  ----------------------------------------------- 
 b)     Initial notification/         Initial notification 
         Amendment 
       ----------------------------  ----------------------------------------------- 
 3      Details of the issuer, emission allowance market participant, 
         auction platform, auctioneer or auction monitor 
       ----------------------------------------------------------------------------- 
 a)     Name                          AfriTin Mining plc 
       ----------------------------  ----------------------------------------------- 
 b)     LEI 
                                        *    213800FKOXWBL6JBVH90 
       ----------------------------  ----------------------------------------------- 
 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                Ordinary share 
         the financial instrument, 
         type of instrument 
                                       GG00BD95V148 
         Identification 
         code 
       ----------------------------  ----------------------------------------------- 
 b)     Nature of the transaction     Change of exercise price of existing options 
       ----------------------------  ----------------------------------------------- 
 c)     Price(s) and volume(s)         Price(s)   Volume(s) 
                                        9.8p       1,500,000 
                                         10.3p      750,000 
                                         10.8p      750,000 
                                                  ---------- 
       ----------------------------  ----------------------------------------------- 
 d)      Aggregated information 
     *    Aggregated volume            3,000,000 
                                        10.175p 
 
     *    Price 
 ----------------------------------  ----------------------------------------------- 
 e)     Date of the transaction       8 April 2022 
       ----------------------------  ----------------------------------------------- 
 f)     Place of the transaction      XLON, AIM 
       ----------------------------  ----------------------------------------------- 
 
 
 
 
 1      Details of the person discharging managerial responsibilities/person 
         closely associated 
 a)     Name                          Frans van Daalen 
       ----------------------------  ----------------------------------------------- 
 2      Reason for the notification 
       ----------------------------------------------------------------------------- 
 a)     Position/status               Chief Operating Officer 
       ----------------------------  ----------------------------------------------- 
 b)     Initial notification/         Initial notification 
         Amendment 
       ----------------------------  ----------------------------------------------- 
 3      Details of the issuer, emission allowance market participant, 
         auction platform, auctioneer or auction monitor 
       ----------------------------------------------------------------------------- 
 a)     Name                          AfriTin Mining plc 
       ----------------------------  ----------------------------------------------- 
 b)     LEI 
                                        *    213800FKOXWBL6JBVH90 
       ----------------------------  ----------------------------------------------- 
 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                Ordinary share 
         the financial instrument, 
         type of instrument 
                                       GG00BD95V148 
         Identification 
         code 
       ----------------------------  ----------------------------------------------- 
 b)     Nature of the transaction     Change of exercise price of existing options 
       ----------------------------  ----------------------------------------------- 
 c)     Price(s) and volume(s)         Price(s)   Volume(s) 
                                        9.8p       2,400,000 
                                         10.3p      1,200,000 
                                         10.8p      1,200,000 
                                                  ----------- 
       ----------------------------  ----------------------------------------------- 
 d)      Aggregated information 
     *    Aggregated volume            4,800,000 
                                        10.175p 
 
     *    Price 
 ----------------------------------  ----------------------------------------------- 
 e)     Date of the transaction       8 April 2022 
       ----------------------------  ----------------------------------------------- 
 f)     Place of the transaction      XLON, AIM 
       ----------------------------  ----------------------------------------------- 
 
 
 
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