Anglo Asian Mining PLC Grant of Options (1152P)
November 14 2016 - 7:13AM
UK Regulatory
TIDMAAZ
RNS Number : 1152P
Anglo Asian Mining PLC
14 November 2016
Anglo Asian Mining plc / Ticker: AAZ / Index: AIM / Sector:
Mining
14 November 2016
Anglo Asian Mining plc
Grant of Options
Anglo Asian Mining plc ("Anglo Asian" or "the Company"), the AIM
listed gold, copper and silver producer focused in Azerbaijan,
announces that the board of directors of the Company has agreed to
issue options to a person discharging managerial responsibility,
namely Stephen Westhead, Director of Geology, over a total of
120,000 Ordinary Shares of GBP0.01 in the capital of the Company at
an exercise price of GBP0.098750 per share. These options will vest
as follows:
a) 40,000 Ordinary Shares of GBP0.01 each on 31 December 2016;
b) 40,000 Ordinary Shares of GBP0.01 each on 31 March 2017;
c) 40,000 Ordinary Shares of GBP0.01 each on 30 June 2017.
The options represent in aggregate 0.1065 per cent. of the
existing share capital of the Company and have been issued to
Stephen Westhead in line with the Company's on-going incentive
plans. The price of GBP0.098750 per share was the closing price of
the Company's ordinary shares on 30 May 2016, the date on which
Stephen Westhead joined the Company. As part of his remuneration
package, Stephen Westhead was conditionally granted the options at
the share price on his date of joining, subject to subsequent
approval by the board of directors of the Company.
The notification below, made in accordance with the requirements
of the EU Market Abuse Regulation, provides further details on the
grant of options to Mr Westhead.
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: Stephen Westhead
--- --------------------------------- -------------------------------------------
2. Reason for the notification
--- ------------------------------------------------------------------------------
a) Position/status: Director of Geology
--- --------------------------------- -------------------------------------------
b) Initial notification/Amendment: Initial notification
--- --------------------------------- -------------------------------------------
3. Details of the issuer, emission allowance
market participant, auction platform, auctioneer
or auction monitor
--- ------------------------------------------------------------------------------
a) Name: Anglo Asian Mining
plc
--- --------------------------------- -------------------------------------------
b) LEI:
--- --------------------------------- -------------------------------------------
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 Share options over
instrument, type of instrument: ordinary shares
Identification code: of par value GBP0.01
GB00B0C18177
--- --------------------------------- -------------------------------------------
b) Nature of the transaction: Grant of options
over ordinary shares
--- --------------------------------- -------------------------------------------
c) Price(s) and volume(s): Price(s) Volume(s)
------------- ----------
GBP0.098750 120,000
------------- ----------
--- --------------------------------- -------------------------------------------
d) Aggregated information: Single transaction
Aggregated volume: as in 4 c) above Price(s) Volume(s)
Price: ------------- ----------
GBP0.098750 120,000
------------- ----------
--- --------------------------------- -------------------------------------------
e) Date of the transaction: 2016-11-11
14:00 hours UTC
--- --------------------------------- -------------------------------------------
f) Place of the transaction: Outside a trading
venue
--- --------------------------------- -------------------------------------------
**ENDS**
For further information please visit www.angloasianmining.com or
contact:
Anglo Asian Mining Tel: +994 12 596
Reza Vaziri plc 3350
-------------------- ------------------- ------------------
Anglo Asian Mining Tel: +994 502 910
Bill Morgan plc 400
-------------------- ------------------- ------------------
Anglo Asian Mining Tel: +994 502 916
Stephen Westhead plc 894
-------------------- ------------------- ------------------
Ewan Leggat SP Angel Corporate Tel: +44 (0) 20
Finance LLP 3470 0470
Nominated Adviser
and Broker
-------------------- ------------------- ------------------
Laura Harrison SP Angel Corporate Tel + 44 (0) 20
Finance LLP 3470 0470
-------------------- ------------------- ------------------
Lottie Brocklehurst St Brides Partners Tel: +44 (0) 20
Ltd 7236 1177
-------------------- ------------------- ------------------
Susie Geliher St Brides Partners Tel: +44 (0) 20
Ltd 7236 1177
-------------------- ------------------- ------------------
Notes:
Anglo Asian Mining plc (AIM:AAZ) is a gold, copper and silver
producer in Central Asia with a broad portfolio of production and
exploration assets in Azerbaijan. The Company has a 1,962 square
kilometre portfolio, assembled from analysis of historic Soviet
geological data and held under a Production Sharing Agreement
modelled on the Azeri oil industry.
The Company developed Azerbaijan's first operating
gold/copper/silver mine, Gedabek, which commenced gold production
in May 2009. Gedabek is an open cast mine with a series of
interconnected pits. The Company also mines high grade ore from the
Gadir underground mine which is co-located at the Gedabek site. The
Company has a second underground mine, Gosha, which is 50
kilometres from Gedabek. Ore mined at Gosha is processed at Anglo
Asian's Gedabek plant.
Gold production for the year ended 31 December 2015 from Gedabek
totalled 72,032 ounces with 969 tonnes of copper also produced.
Gedabek is a polymetallic deposit and its ore has a high copper
content, and as a result the Company produces copper concentrate
from its Sulphidisation, Acidification, Recycling, and Thickening
(SART) plant. Anglo Asian also produces a copper and precious metal
concentrate from its flotation plant, which commenced production in
the last quarter of 2015. This is initially processing tailings
from the agitation leach plant.
Anglo Asian is also actively seeking to exploit its first mover
advantage in Azerbaijan to identify additional projects, as well as
looking for other properties in order to fulfil its expansion
ambitions and become a mid-tier gold and copper metal production
company.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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