Tertiary Minerals PLC Director's Dealings, Warrants, TVR & Correction (6365F)
24 February 2015 - 2:05AM
UK Regulatory
TIDMTYM
RNS Number : 6365F
Tertiary Minerals PLC
23 February 2015
Tertiary Minerals plc
www.tertiaryminerals.com
("Tertiary" or "the Company")
23 February 2015
Director's Dealings, Issue of Warrants, Total Voting Rights and
Correction
Tertiary Minerals plc, the AIM traded company building a
strategic position in the fluorspar sector announces that pursuant
to terms agreed on 30 April 2014 and further to the RNS dated 20
August 2014, the non-executive directors of the Company, Donald
McAlister and David Whitehead, will be receiving a portion of their
annual fees in Tertiary Minerals ordinary shares of 1 penny each
("Ordinary Shares"), on a six monthly ongoing basis calculated with
reference to the closing mid-market price the trading day prior to
the issue of the Ordinary Shares.
On 20 February 2015, the Company resolved to issue a total of
71,488 Ordinary Shares to the non-executive directors for the
period ended 31 December 2014. The Ordinary Shares were issued at a
price of 4 pence per share, being the closing mid-market price on
19 February 2015.
The following table shows the number of Ordinary Shares issued
to the non-executive directors and their total holdings following
the issue of the Ordinary Shares:
Director Number of Ordinary Price of Ordinary Interest in % of Company's
Shares issued Shares issued total number issued share
of Ordinary capital following
Shares following Admission
Admission
Donald McAlister 21,488 4 pence 515,536 0.296%
David Whitehead 50,000 4 pence 379,003* 0.217%
Application has been made to the London Stock Exchange for
71,488 Ordinary Shares to be admitted to trading on AIM
("Admission"), and it is expected that Admission will occur on or
around 26 February 2015.
Issue of Warrants
In addition, on 20 February 2015, the Board of the Company
granted 1,700,000 warrants (the "Warrants") to an executive
director and certain employees. The grant to the executive director
of the Company was as follows:
Name Number of Warrants granted
Patrick Cheetham (Executive Chairman) 1,000,000
As a result of this issue of Warrants the total number of
warrants held by Patrick Cheetham is 6,500,000.
Each Warrant entitles the holder to subscribe for one new
ordinary share at a price of 4 pence per share, being the closing
mid-market price on 19 February 2015, and the warrants may be
exercised at any time within 4 years from 20 February 2016.
Total Voting Rights
In accordance with Financial Conduct Authority's Disclosure and
Transparency Rules ("DTR"), following the issue and Admission, the
total issued share capital of the Company with voting rights will
be 174,373,522 ordinary shares.
The above figure of 174,373,522 ordinary shares 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 DTR.
*Correction Announcement
Following the issue of Ordinary Shares being announced today Mr.
David Whitehead has a beneficial interest in 379,003 ordinary
shares representing 0.217% of the Company's issued share capital
following Admission, all of which are held by Glebekinvara
Management Services Limited ("Glebekinvara") of which David
Whitehead and his wife, Ann Whitehead, are both directors and are
both 50% beneficial shareholders.
David Whitehead's interest in ordinary shares in the Company
includes 300,000 ordinary shares of 1 penny each acquired through
the exercise of warrants on 21 February 2011 as reported by the
Company through an RNS announcement on 22 February 2011. An error
occurred in the subsequent reporting of David Whitehead's
beneficial interest in ordinary shares in the Company within the
2011 Company Annual Report where these 300,000 ordinary shares were
not disclosed. This error was carried forward in the 2012, 2013 and
2014 Annual Reports and RNS's dated 20 and 21 August 2014.
In addition, the shareholding of Mr. David Whitehead in Sunrise
Resources plc ("Sunrise") in Note 17 (Related Party Transactions),
page 42 of Tertiary's 2014 Annual Report, was incorrectly stated as
nil. Mr. David Whitehead has a beneficial interest in 250,000
ordinary shares in Sunrise which are held by Glebekinvara. As at
the date of this announcement, Tertiary holds 9.10% of Sunrise's
issued share capital.
Enquiries
Tertiary Minerals plc
Patrick Cheetham, Executive
Chairman
Richard Clemmey, Managing Director +44 (0)845 868 4580
SP Angel Corporate Finance LLP
Nominated Adviser & Joint Broker
Ewan Leggat
Katy Birkin +44 (0) 20 3470 0470
Beaufort Securities Ltd
Joint Broker
Saif Janjua +44 (0)20 7382 8300
Yellow Jersey PR Limited
Dominic Barretto
Kelsey Traynor +44 (0)7768 537 739
Notes to Editors
Tertiary Minerals plc (ticker symbol 'TYM') is an AIM-quoted
mineral exploration and development company building a significant
strategic position in the fluorspar sector. Fluorspar is an
essential raw material in the chemical, steel and aluminium
industries. Tertiary controls two significant Scandinavian projects
(Storuman in Sweden and Lassedalen in Norway) and a large deposit
of strategic significance in Nevada USA (MB Project).
This information is provided by RNS
The company news service from the London Stock Exchange
END
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