Atlantis Resources Limited Grant of awards to Director (2775L)
September 30 2016 - 2:03AM
UK Regulatory
TIDMARL
RNS Number : 2775L
Atlantis Resources Limited
30 September 2016
30 September 2016
Atlantis Resources Limited
Grant of awards to Director
Atlantis Resources Limited (AIM: ARL, "Atlantis", or the
"Company") announces that today it has granted an award over
1,000,000 ordinary shares of no par value in the Company ("Ordinary
Shares") under the Company 2013 Long-Term Incentive Plan ("the
Plan"), as amended by the Board in January 2016, to the Company
CEO, Tim Cornelius.
The vesting of the awards is normally subject to ongoing
employment with the Company. Subject to the rules of the Plan, the
award will vest one third on 11 December 2016, one third on 11
December 2017 and one third on 11 December 2018 and remain
exercisable until the tenth anniversary of the grant date.
The award has been granted in the form of an option with an
exercise price per Ordinary Share of GBP0.50.
The Remuneration Committee met in late 2015 to consider the
exercise price of this option award when the share price had been
trading well below 50p for the previous 12 months and was then
trading at a discount of more than 25% to the exercise price. At
that time the Remuneration Committee unanimously agreed to
recommend to the board that the options be awarded and in January
2016 the board formally accepted this recommendation and agreed
that it should be implemented at the earliest possible opportunity
but due to a series of technical close periods the board were
unable to authorise this award until now.
At the same time all outstanding options granted to Tim
Cornelius on 11 December 2013, totalling 1,063,830 Ordinary Shares
at an exercise price of GBP0.94 per share will be cancelled. A
separate notification has been issued in respect of this
cancellation.
PDMR notification - Tim Cornelius
1. Details of the Restricted Person / person
closely associated with him or her
a) Name
Tim Cornelius
2. Reason for the notification
a) Position/status
CEO
b) Initial notification
/ Amendment Initial notification
3. Details of the issuer, emission allowance
market participant, auction platform, auctioneer
or auction monitor
a) Name
Atlantis Resources
Limited
b) UEN
Company number 200517551R
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
instrument, type of instrument Ordinary shares of
no par value in the
capital of Atlantis
Resources Limited
b) Identification code
ISIN SG0000011118
c) Nature of the transaction
Grant of options
d) Price(s) and volume(s) Volume(s) granted:
1,000,000
Exercise Price(s):
GBP0.50 per share
under option
e) Aggregated information:
i. Aggregated volume
ii. Price Aggregate volume
granted: 1,000,000
Exercise Price: GBP0.50
per share under option
f) Date of the transaction 2016-09-30
g) Place of the transaction Outside a trading
venue
Enquiries:
+44 (0)20 3727
Atlantis Resources 1000
John Neill, Chairman
Simon Counsell, Chief Financial
Officer
Peel Hunt LLP (Nominated Adviser +44 (0)20 7418
and Broker) 8900
Adrian Trimmings
Jock Maxwell Macdonald
Euan Brown
+44 (0)20 3727
FTI Consulting 1000
Ben Brewerton
Alex Beagley
Stephanie Blott
James Styles
This information is provided by RNS
The company news service from the London Stock Exchange
END
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