TIDMSML
RNS Number : 2535X
Strategic Minerals PLC
09 August 2018
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.
9 August 2018
Strategic Minerals plc
("Strategic Minerals" or the "Company")
Exercise of Directors' Options, Issue of Equity and Grant of New
Options
Strategic Minerals plc (AIM: SML; USOTC: SMCDY), a producing
mineral company actively developing projects prospective for
battery materials, is pleased to announce that certain of its
Directors namely, John Peters, Peter Wale and Alan Broome, have
exercised 6,500,000 vested options. The Company also announces that
it has allocated to certain Directors and key personnel the bulk of
the remaining options in the programme approved by shareholders at
the General meeting held on 19 October 2017 (further details of
which are set out in the announcements dated 25 August 2017 and 3
October 2017).
Options Exercise
John Peters, Peter Wale and Alan Broome have notified the
Company of their exercise of vested 30 June 2019 options, and have
supplied payment of GBP0.01 per ordinary share of 0.1 pence each in
the capital of the Company ("Ordinary Share"). In relation to the
existing vested options, John Peters has subscribed for 3,000,000
new Ordinary Shares, Peter Wale has subscribed for 2,000,000 new
Ordinary Shares and Alan Broome has subscribed for 1,500,000 new
Ordinary Shares.
Upon allocation of these new Ordinary Shares, Peter Wale will
hold 50,364,000 Ordinary Shares, with no outstanding vested
options, John Peters will hold 33,500,000 Ordinary Shares, with
17,000,000 30 June 2019 vested options outstanding and Alan Broome
will hold 4,647,319 Ordinary Shares, with 1,500,000 30 June 2019
vested options outstanding. After issuance of the new Ordinary
Shares, Peter Wale, John Peters and Alan Broome will hold 3.64%,
2.42% and 0.34% of the Company's issued share capital
respectively.
Issue of Equity
Application will be made for 6,500,000 new Ordinary Shares to be
admitted to trading on the AIM market of the London Stock Exchange
("Admission"). Admission of these new Ordinary Shares is expected
to occur on or around 15 August 2018.
Following the issue of new Ordinary Shares in connection with
the above share option exercise, the total issued share capital of
the Company consists of 1,382,693,127 Ordinary Shares with voting
rights. The Company does not hold any Ordinary Shares in treasury.
Therefore, the total number of voting rights in the Company is
1,382,693,127 and this figure may be used by shareholders in the
Company as the denominator for the calculations by which they will
determine if they are required to notify their interest in, or a
change in their interest in, the share capital of the Company under
the FCA's Disclosure and Transparency Rules.
Grant of New Options
The Board of the Company has agreed, under the terms of the
shareholder approved option programme, to grant options to certain
Directors of the Company, namely Jeffery Harrison and Peter Wale,
and to key personnel across the Company's four major areas of
operation. These have been allocated in all three option
tranches:
-- Tranche 1 - Vesting Price GBP0.0550, Exercise Price GBP0.0275, Maturity 30/06/20
-- Tranche 2 - Vesting Price GBP0.0750, Exercise Price GBP0.0375, Maturity 30/06/21
-- Tranche 3 - Vesting Price GBP0.1000, Exercise Price GBP0.0500, Maturity 30/06/22
Following the grant of a total of 50,750,000 options across the
three tranches the total number of options outstanding in the
capital of the Company is 197,250,000 of which 18,500,000 are
deemed to have vested. The full break down of new options granted
appears in Table 1.
Management, as ratified by the Board, has also indicated to
employees and strategic consultants that, subject to performance, a
similar grant of options will be made one year from now. This does
not affect the Company's overarching requirement to ensure that
options representing no more than 10% of the Company's issued
Ordinary Share capital (currently 1,382,693,127 Ordinary Shares)
can be vested at any time.
Commenting, John Peters, Managing Director of Strategic
Minerals, said:
"The exercise of vested options by all entitled Directors
highlights the confidence of the Board and how significantly
invested it is in the Company's future success. It is also a
reminder of Management's clear alignment with shareholders.
"The Company's shareholder approved option programme is designed
to align, recognise and reward the efforts of directors, employees
and strategic consultants of the Company across all four project
areas (Cobre, Leigh Creek, Redmoor and Hanns Camp), and we are
proud to be able to offer options not just to management but to
employees across the breadth of the business.
"Whilst the Company has been progressing steadily on its
projects, July has been a quiet news flow period, as is sometimes
the case, but the Board anticipates the period ahead will see an
uptick in news activity and looks forward to updating shareholders
on progress in due course."
Table 1: Options Granted
Recipient Tranche 1* Tranche 2* Tranche 3*
Directors
Jeffrey Harrison 12,000,000 5,500,000 2,500,000
Peter Wale 12,000,000 Nil Nil
24,000,000 5,500,000 2,500,000
Employees/Strategic
Consultants
Jon Reynolds 6,000,000 2,750,000 1,250,000
Jonathon Trewartha 1,500,000 700,000 300,000
Clovis Hooper 625,000 275,000 100,000
Brett Grist 625,000 275,000 100,000
James Blight 500,000 250,000 100,000
Graeme Purcell 500,000 250,000 100,000
Nic Karakashov 500,000 250,000 100,000
Arthur Hunt 500,000 250,000 100,000
David Larsen 500,000 250,000 100,000
11,250,000 5,250,000 2,250,000
Total 35,250,000 10,750,000 4,750,000
* Details of vesting conditions, exercise price and term are set
out under the heading "Options Allocation" above.
For further information, please contact:
+61 (0) 414 727
Strategic Minerals plc 965
John Peters
Managing Director
www.strategicminerals.net
Follow Strategic Minerals on:
Vox Markets: https://www.voxmarkets.co.uk/company/SML/
Twitter: @SML_Minerals
LinkedIn: https://www.linkedin.com/company/strategic-minerals-plc
Facebook: https://www.facebook.com/search/top/?q=strategic%20minerals%20plc
+44 (0)20 3470
SP Angel Corporate Finance LLP 0470
Nominated Adviser and Broker
Ewan Leggat/Laura Harrison
+44 (0)20 3735
Yellow Jersey PR 8825
Financial PR
+44 (0)7747 788
Charles Goodwin 221
+44 (0)7769 325
Joe Burgess 254
+44 (0)7951 402
Henry Wilkinson 336
Notes to Editors
Strategic Minerals Plc is an AIM-quoted, operating minerals
company actively developing projects prospective for battery
materials. It has an operation in the United States of America and
development projects in the UK and Australia. The Company is
focused on utilising its operating cash flows, along with capital
raisings, to develop high quality projects aimed at supplying the
metals and minerals being sought in the burgeoning electric
vehicle/battery market.
In September 2011, Strategic Minerals acquired the Cobre
magnetite tailings dam project in New Mexico, USA, a
cash-generating asset, which it brought into production in 2012 and
which continues to provide a revenue stream for the Company. This
operating revenue stream is utilised to cover company overheads and
invest in development projects orientated to supplying the
burgeoning electric vehicle/battery market.
In January 2016, the portfolio was expanded with the acquisition
of shares in Central Australian Rare Earths Pty Ltd, which holds
tenements in Western Australia and the Northern Territory that are
prospective for cobalt, gold, nickel sulphides and rare earth
elements. The Company has since acquired all shares in Central
Australian Rare Earths Pty Ltd.
In May 2016, an additional exploration asset was acquired when
the Company entered into an agreement with New Age Exploration
Limited to acquire up to 50% of the Redmoor Tin/Tungsten project in
Cornwall, UK. This 50% acquisition was completed in February 2017
and a drilling programme completed in 2017 resulted in a
significant upgrade of the resource.
In March 2018, the Company completed the acquisition of the
Leigh Creek Copper Mine situated in the copper rich belt of South
Australia and is currently working to bring this into operation in
2019.
PDMR Disclosure
The notifications below, made in accordance with the
requirements of the EU Market Abuse Regulation, provide further
detail on the director's share dealing.
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) Full name of person Dealing i. John Peters
ii. Peter Wale
iii. Alan Broome
----------------------------------------- ------------------------------------------------
2. Reason for notification
-------------------------------------------------------------------------------------------
(b) Position/status i. Managing Director
ii. Executive Director
iii. Non-Executive Chairman
----------------------------------------- ------------------------------------------------
(c) Initial notification/ Amendment Initial notification
----------------------------------------- ------------------------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-------------------------------------------------------------------------------------------
(d) Name of entity Strategic Minerals Plc
----------------------------------------- ------------------------------------------------
(e) LEI 213800DICA5NPVOJT776
----------------------------------------- ------------------------------------------------
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
-------------------------------------------------------------------------------------------
(f) Description of the financial instrument, Ordinary shares of 0.1
type of instrument pence each in the Company
----------------------------------------- ------------------------------------------------
(g) Identification code GB00B4W8PD74
----------------------------------------- ------------------------------------------------
(h) Nature of the transaction Issue of ordinary shares
as a result of the exercise
of unlisted options
----------------------------------------- ------------------------------------------------
(i) Price(s) and volume(s) Prices(s) Volume(s)
i. 1 pence i. 3,000,000
ii. 1 pence ii. 2,000,000
iii. 1 pence iii. 1,500,000
-----------------
----------------------------------------- ------------------------------------------------
(j) Aggregated information: Single transaction as
- Aggregated volume in 4(d) above Prices(s) Volume(s)
- Price i. 1 pence i. 3,000,000
ii. 1 pence ii. 2,000,000
iii. 1 pence iii. 1,500,000
------------------
----------------------------------------- ------------------------------------------------
(k) Date of transaction 9 August 2018
----------------------------------------- ------------------------------------------------
(l) Place of transaction Outside a trading venue
----------------------------------------- ------------------------------------------------
1. Details of the person discharging managerial responsibilities/person
closely associated
(a) Full name of person Dealing Jeffrey Harrison
----------------------------------------- --------------------------------------------
2. Reason for notification
---------------------------------------------------------------------------------------
(b) Position/status Non-Executive Director
----------------------------------------- --------------------------------------------
(c) Initial notification/ Amendment Initial notification
----------------------------------------- --------------------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
---------------------------------------------------------------------------------------
(d) Name of entity Strategic Minerals Plc
----------------------------------------- --------------------------------------------
(e) LEI 213800DICA5NPVOJT776
----------------------------------------- --------------------------------------------
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
---------------------------------------------------------------------------------------
(f) Description of the financial instrument, Options over ordinary
type of instrument shares of 0.1 pence each
in the Company
----------------------------------------- --------------------------------------------
(g) Identification code GB00B4W8PD74
----------------------------------------- --------------------------------------------
(h) Nature of the transaction Grant of options over
ordinary shares
----------------------------------------- --------------------------------------------
(i) Price(s) and volume(s) Exercise Volume(s)
Prices(s)
i. 2.75 i. 12,000,000
p ii. 5,500,000
ii. 3.75 iii. 2,500,000
p
iii. 5.00
p
-----------------
----------------------------------------- --------------------------------------------
(j) Aggregated information: Single transaction as
- Aggregated volume in 4(d) above Exercise Volume(s)
- Price Prices(s)
i. 2.75 i. 12,000,000
p ii. 5,500,000
ii. 3.75 iii. 2,500,000
p
iii. 5.00
p
------------------
----------------------------------------- --------------------------------------------
(k) Date of transaction 9 August 2018
----------------------------------------- --------------------------------------------
(l) Place of transaction Outside a trading venue
----------------------------------------- --------------------------------------------
1. Details of the person discharging managerial responsibilities/person
closely associated
(a) Full name of person Dealing Peter Wale
----------------------------------------- -------------------------------------
2. Reason for notification
--------------------------------------------------------------------------------
(b) Position/status Executive Director
----------------------------------------- -------------------------------------
(c) Initial notification/ Amendment Initial notification
----------------------------------------- -------------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
--------------------------------------------------------------------------------
(d) Name of entity Strategic Minerals Plc
----------------------------------------- -------------------------------------
(e) LEI 213800DICA5NPVOJT776
----------------------------------------- -------------------------------------
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
--------------------------------------------------------------------------------
(f) Description of the financial instrument, Options over ordinary
type of instrument shares of 0.1 pence each
in the Company
----------------------------------------- -------------------------------------
(g) Identification code GB00B4W8PD74
----------------------------------------- -------------------------------------
(h) Nature of the transaction Grant of options over
ordinary shares
----------------------------------------- -------------------------------------
(i) Price(s) and volume(s) Prices(s) Volume(s)
2.75 p 12,000,000
-----------
----------------------------------------- -------------------------------------
(j) Aggregated information: Single transaction as
- Aggregated volume in 4(d) above Prices(s) Volume(s)
- Price 2.75 p 12,000,000
-----------
----------------------------------------- -------------------------------------
(k) Date of transaction 9 August 2018
----------------------------------------- -------------------------------------
(l) Place of transaction Outside a trading venue
----------------------------------------- -------------------------------------
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END
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