TIDMRMM
RNS Number : 7291H
Rambler Metals & Mining PLC
22 August 2016
22 August 2016
GRANT OF OPTIONS/pdmR holding
London, United Kingdom & Newfoundland and Labrador, Canada -
Rambler Metals and Mining PLC (TSXV: RAB, AIM: RMM) ('Rambler' or
'The Company') further to its announcement on 18 August 2016 the
Company reports that after close of business on 19 August 2016 the
Board of Directors has approved a grant of 9,180,000 incentive
stock options to directors, officers, employees and consultants of
the Company under its stock option plan, in accordance with the
Company's compensation policy. The options are exercisable for five
years and issued at the Fair Market value of CAD$0.0781. Fair
Market value, as define by the plan, is the volume weighted average
trading price on the TSXV for the five trading days immediately
prior to the date of grant. The options granted to directors,
officers and employees will vest 100 per cent after three years
from the date of grant.
As part of the grant Norman Williams, President & CEO,
Director, has been issued options over 3,400,000 ordinary shares in
the Company. In accordance with the Company's stock option plan,
these options are exercisable over a five year period at a price of
CAD$0.0781 per share and vest 100 per cent after 3 years from the
date of grant. Mr. Williams currently holds 100,000 shares in the
Company and has incentive stock options over 1,175,000 ordinary
shares. Following this grant, Mr .Williams will have a total of
4,575,000 incentive stock options.
The notification below, made in accordance with the requirements
of the Market Abuse Regulation, provide further detail.
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 Mr. Norman Williams
--- --------------------- ------------------------------
2 Reason for the notification
--- -----------------------------------------------------
a) Position/status Chief Executive Officer /PDMR
--- --------------------- ------------------------------
b) Initial notification Initial notification
/Amendment
--- --------------------- ------------------------------
3 Details of the issuer, emission allowance market
participant, auction platform, auctioneer or
auction monitor
--- -----------------------------------------------------
a) Name Rambler Metals and Mining PLC
--- --------------------- ------------------------------
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 Options over Ordinary Shares
of the financial
instrument,
type of instrument ISIN: GB00B06Y3F14
Identification
code
--- --------------------- ------------------------------
b) Nature of Grant of options
the transaction
--- --------------------- ------------------------------
c) Price(s) Price(s) Volume(s)
and volume(s) ------------ ----------
CAD$0.0781 3,400,000
------------ ----------
--- --------------------- ------------------------------
d) Aggregated As above
information
- Aggregated
volume
- Price
--- --------------------- ------------------------------
e) Date of the 2016-08-19
transaction
--- --------------------- ------------------------------
f) Place of Outside a Trading Venue
the transaction
--- --------------------- ------------------------------
In addition, Rambler has entered into an investor relations
consulting agreement with Nicole Marchand (the "Consultant"). Ms.
Marchand has vast capital markets experience including roles in
institutional sales, investor relations and investment banking. She
holds an Honours Bachelor of Business Administration degree from
Wilfrid Laurier University. Ms. Marchand will provide Rambler with
strategic introductions to the investment community. In addition,
she will be responsible for arranging investor and analyst
meetings, and communicating corporate news and developments to the
Company's shareholders, the financial community and the media.
In consideration for the services to be provided, Rambler has
granted to Ms. Marchand options to purchase 50,000 common shares of
the Company at an exercise price of CAD$0.0781 per share (the
"Consultant Options"). The Consultant Options will vest as to 1/12
per month on the 1(st) day of each month following the date of
grant, and expire the earlier of: (i) 30 days following termination
of the consulting services or (ii) five years from the date of
grant. A monthly retainer of $7,500 plus HST is payable on the
completion of each month. Ms. Marchand is not a "Non-Arm's Length
Party" to the Company as such term is defined in the policies of
the TSX Venture Exchange and prior to the grant of options
described herein, held no securities of the Company. The initial
term of the agreement is for twelve months. Both the Consultant
Options and investor relations consulting engagement are subject to
the approval of the TSX Venture Exchange.
Brad Mills, Chairman of the Board, commented:
"This grant of options under the new stock option plan has been
approved with vesting scheduled to coincide with the completion of
the now fully funded expansion program. None of the options granted
to employees will vest or be available until after a three year
period allowing management time to execute the approved plan.
"The purpose of the grant will be to provide compensation
incentives for continued and improved services by encouraging share
ownership of the Company. These incentive programs are necessary to
ensure that the Company retains the key personnel needed to
executed its expansion program and will provide compensation based
upon its success."
ABOUT RAMBLER METALS AND MINING
Rambler is a mining and development company that in November
2012 brought its first mine into commercial production. Rambler has
a 100 per cent ownership in the Ming Copper-Gold Mine, a fully
operational base and precious metals processing facility and year
round bulk storage and shipping facility; all located on the Baie
Verte peninsula, Newfoundland and Labrador, Canada.
Rambler's immediate plans are to increase mine and mill
production to 1,250 mtpd by the end of Fiscal 2017. This initial
expansion has been fully funded through CEII's investment. Rambler
will also continue advancing engineering studies on
ore-pre-concentration (DMS) and shaft rehabilitation with a view to
further increase production to 2,000 mtpd at the Ming Mine. In
addition, Rambler has initiated a detailed investigation at the
mill with a goal to increase gold recovery and production rate in
the copper concentrator.
Along with the Ming Mine, Rambler also owns 100 per cent of the
former producing Little Deer/ Whales Back copper mines and has
strategic investments in the former producing Hammerdown gold mine
and the advanced Valentine Lake Gold Project.
Rambler is dual listed in London under AIM:RMM and in Canada
under TSX-V:RAB.
For further information, please contact:
Norman Williams, Peter Mercer
CPA,CA Vice President, Corporate
President and CEO Secretary
Rambler Metals Rambler Metals &
& Mining Plc Mining Plc
Tel No: 709-800-1929 Tel No: +44 (0) 20
Fax No: 709-800-1921 8652-2700
Fax No: +44 (0) 20
8652-2719
Nominated Advisor Investor Relations
(NOMAD)
Stewart Dickson Nicole Marchand Investor
/ Relations
Patrick Pittaway/ Tel No: 416- 428-3533
David Porter Nicole@nm-ir.com
Cantor Fitzgerald
Europe
Tel No: +44 (0)
20 7894 7000
Website: www.ramblermines.com
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
Caution Regarding Forward Looking Statements:
Certain information included in this press release, including
information relating to future financial or operating performance
and other statements that express the expectations of management or
estimates of future performance constitute "forward-looking
statements". Such forward-looking statements include, without
limitation, statements regarding copper, gold and silver forecasts,
the financial strength of the Company, estimates regarding timing
of future development and production and statements concerning
possible expansion opportunities for the Company. Where the Company
expresses or implies an expectation or belief as to future events
or results, such expectation or belief are based on assumptions
made in good faith and believed to have a reasonable basis. Such
assumptions include, without limitation, the price of and
anticipated costs of recovery of, copper concentrate, gold and
silver, the presence of and continuity of such minerals at modeled
grades and values, the capacities of various machinery and
equipment, the availability of personnel, machinery and equipment
at estimated prices, mineral recovery rates, and others. However,
forward-looking statements are subject to risks, uncertainties and
other factors, which could cause actual results to differ
materially from future results expressed,
projected or implied by such forward-looking statements. Such
risks include, but are not limited to, interpretation and
implications of drilling and geophysical results; estimates
regarding timing of future capital expenditures and costs towards
profitable commercial operations. Other factors that could cause
actual results, developments or events to differ materially from
those anticipated include, among others, increases/decreases in
production; volatility in metals prices and demand; currency
fluctuations; cash operating margins; cash operating cost per pound
sold; costs per ton of ore; variances in ore grade or recovery
rates from those assumed in mining plans; reserves and/or
resources; the ability to successfully integrate acquired assets;
operational risks inherent in mining or development activities and
legislative factors relating to prices, taxes, royalties, land use,
title and permits, importing and exporting of minerals and
environmental protection. Accordingly, undue reliance should not be
placed on forward-looking statements and the forward-looking
statements contained in this press release are expressly qualified
in their entirety by this cautionary statement. The forward-looking
statements contained herein are made as at the date hereof and the
Company does not undertake any obligation to update publicly or
revise any such forward-looking statements or any forward-looking
statements contained in any other documents whether as a result of
new information, future events or otherwise, except as required
under applicable security law.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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