TIDMBRD
RNS Number : 6208U
BlueRock Diamonds PLC
19 January 2017
BlueRock Diamonds plc
("BlueRock" or "the Company")
19 January 2017
Issue of New Share Options
The board of BlueRock Diamonds plc announces that it has granted
1,670,387 new share options to Adam Waugh, the Company's CEO, and
556,795 new share options to the Company's mine manager, Johan
Milho ("Executive Options").
These new share options have an exercise price of 5p,
representing a premium of 25% to the placing announced on 2
November 2016 and equal to the current bid price. They are
exercisable for a period of 5 years from the date of issue, being
19 January 2017 ("New Share Options").
The Executive Options are being granted In order to incentivise
the executive directors and in recognition of the fact that the
executive directors continue to be paid salaries significantly
below market rates.
Following the grants of the New Share Options, Mr Waugh and Mr
Milho will hold share options as follows:
Number of Existing New Share
ordinary shares Options
subject to
share options
No. Exercise No. Exercise
price (p) price (p)
Mr Waugh 2,446,478 776,091 11 1,670,387 5
Mr Milho 556,795 0 0 556,795 5
The Company also intends to grant New Share Options to all of
the non-executive directors, being Paul Beck (Non Executive
Chairman), Tim Leslie (Non Executive Director) and Andre Markgraaff
(Non Executive Director) (together the "Non Executives") in order
to incentivise them and in recognition of their ongoing support and
the fact that they receive no salaries.
Further details in connection with the proposed grant of New
Share Options to non-executive Directors will be announced in due
course.
The grant of the Executive Options is a related party
transaction for the purposes of Rule 13 of the AIM Rules for
Companies.
As it is intended that New Share Options will be granted in due
course to the Non Executives there are no Directors deemed to be
independent of the grant of Executive Options. Accordingly SP Angel
Corporate Finance LLP, the Company's nominated adviser, considers
that the grant of the Executive Options is fair and reasonable
insofar as the shareholders of the Company are concerned.
In addition the Company has also today approved the issue of
30,000 new ordinary shares in consideration for services.
Application will be made for these 30,000 shares, which will
rank pari passu with the existing Ordinary Shares, to be admitted
to trading on AIM ("Admission"). It is expected that Admission will
become effective and dealings will commence on or around 25 January
2017.
Total Voting Rights
Following the issue of these shares, the issued share capital of
the Company will consist of 55,709,580 Ordinary Shares. No shares
were held in treasury at the date of this announcement. The total
current voting rights in the Company are therefore 55,709,580.
The above total current voting rights number is the figure which
may be used by shareholders as the denominator for the calculation
by which they will determine if they are required to notify their
interest in, or a change to their interest in the Company.
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.
Enquiries:
BlueRock Diamonds SP Angel Corporate
plc Finance LLP
Adam Waugh, CEO Nominated Adviser &
awaugh@bluerockdiamonds.co.uk Broker
Stuart Gledhill / Lindsay
Mair
+44 (0) 20 3470 0470
About BlueRock Diamonds plc (AIM: BRD)
BlueRock is a diamond mining company with activities in the
Kimberley region of South Africa. BlueRock owns a diamond
processing plant and the mining right over the Kareevlei Tenements
in South Africa.
NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS
DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY
ASSOCIATED WITH THEM:
MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH
THEM
1. Details of the person discharging managerial
responsibilities/person closely associated
--- ---------------------------------------------------------------------------
a) Name: Adam Waugh
--- --------------------------------- ----------------------------------------
2. Reason for the notification
--- ---------------------------------------------------------------------------
a) Position/status: Chief Executive
Officer
--- --------------------------------- ----------------------------------------
b) Initial notification/Amendment: Initial notification
--- --------------------------------- ----------------------------------------
3. Details of the issuer, emission allowance
market participant, auction platform, auctioneer
or auction monitor
--- ---------------------------------------------------------------------------
a) Name: BlueRock Diamonds
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 Options over Ordinary
instrument, type of instrument: shares of 1p each
Identification code: GB00B84H1764
--- --------------------------------- ----------------------------------------
b) Nature of the transaction: Issue of options
--- --------------------------------- ----------------------------------------
c) Price(s) and volume(s): Price(s) Volume(s)
---------- ----------
5 pence 1,670,387
---------- ----------
--- --------------------------------- ----------------------------------------
d) Aggregated information: Single transaction
Aggregated volume: as in 4 c) above Price(s) Volume(s)
Price: ---------- ----------
5 pence 1,670,387
--- --------------------------------- ----------------------------------------
e) Date of the transaction: 19 January 2017
10.30am GMT
--- --------------------------------- ----------------------------------------
f) Place of the transaction: Outside a trading
venue
--- --------------------------------- ----------------------------------------
1. Details of the person discharging managerial
responsibilities/person closely associated
--- ---------------------------------------------------------------------------
a) Name: Johan Milho
--- --------------------------------- ----------------------------------------
2. Reason for the notification
--- ---------------------------------------------------------------------------
a) Position/status: Mine manager
--- --------------------------------- ----------------------------------------
b) Initial notification/Amendment: Initial notification
--- --------------------------------- ----------------------------------------
3. Details of the issuer, emission allowance
market participant, auction platform, auctioneer
or auction monitor
--- ---------------------------------------------------------------------------
a) Name: BlueRock Diamonds
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 Options over Ordinary
instrument, type of instrument: shares of 1p each
Identification code: GB00B84H1764
--- --------------------------------- ----------------------------------------
b) Nature of the transaction: Issue of options
--- --------------------------------- ----------------------------------------
c) Price(s) and volume(s): Price(s) Volume(s)
---------- ----------
5 pence 556,795
---------- ----------
--- --------------------------------- ----------------------------------------
d) Aggregated information: Single transaction
Aggregated volume: as in 4 c) above Price(s) Volume(s)
Price: ---------- ----------
5 pence 556,795
--- --------------------------------- ----------------------------------------
e) Date of the transaction: 19 January 2017
10.30 am GMT
--- --------------------------------- ----------------------------------------
f) Place of the transaction: Outside a trading
venue
--- --------------------------------- ----------------------------------------
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCBGGDBSUBBGRC
(END) Dow Jones Newswires
January 19, 2017 05:57 ET (10:57 GMT)
Bluerock Diamonds (LSE:BRD)
Historical Stock Chart
From Apr 2024 to May 2024
Bluerock Diamonds (LSE:BRD)
Historical Stock Chart
From May 2023 to May 2024