Georgian Mining Corporation Grant of Options and Director Shareholding (9567I)
June 23 2017 - 2:01AM
UK Regulatory
TIDMGEO
RNS Number : 9567I
Georgian Mining Corporation
23 June 2017
23 June 2017
Georgian Mining Corporation ('GEO or 'the Company')
Grant of Options and Director Shareholding
Georgian Mining Corporation announces that the Remuneration
Committee has agreed to issue options over a total of 3,300,000
ordinary shares of no par value in the capital of the Company
("Share Options") at an exercise price of 18.25p per share. These
options will vest immediately and will expire on 21 July 2022.
The Share Options represent in aggregate 2.88% of the existing
issued ordinary share capital of the Company and have been issued
to a number of directors and employees of the Company in line with
the Company's ongoing incentive plans. Following the grant of the
Share Options, in aggregate there will be 8,200,000 ordinary shares
of no par value of the Company under option to directors and
employees of the Company, representing 7.1% of the existing issued
ordinary share capital of the Company.
The grant of the Share Options described in this announcement is
a related party transaction for the purposes of Rule 13 of the AIM
Rules. Martyn Churchouse, being an independent director, considers,
having consulted with the Company's Nominated Adviser, SP Angel
Corporate Finance LLP, that the terms of the related party
transaction are fair and reasonable insofar as the shareholders of
the Company are concerned.
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.
The notifications below, made in accordance with the
requirements of the EU Market Abuse Regulation, provide further
detail on the directors' participation in the Placing.
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: Gregory Kuenzel
--- --------------------------------- ----------------------------------------
2. Reason for the notification
--- ---------------------------------------------------------------------------
a) Position/status: Managing Director
--- --------------------------------- ----------------------------------------
b) Initial notification/Amendment: Initial notification
--- --------------------------------- ----------------------------------------
3. Details of the issuer, emission allowance
market participant, auction platform, auctioneer
or auction monitor
--- ---------------------------------------------------------------------------
a) Name: Georgian Mining
Corporation
--- --------------------------------- ----------------------------------------
b) LEI: 2138002IOR7OCZZPB279
--- --------------------------------- ----------------------------------------
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
instrument, type of instrument: over ordinary
Identification code: shares of no par
value
VGG9688A1003
--- --------------------------------- ----------------------------------------
b) Nature of the transaction: Grant of options
over ordinary
shares
--- --------------------------------- ----------------------------------------
c) Price(s) and volume(s): Price(s) Volume(s)
------------- ----------
18.25 pence 1,500,000
------------- ----------
--- --------------------------------- ----------------------------------------
d) Aggregated information: Single transaction
Aggregated volume: as in 4 c) above Price(s) Volume(s)
Price: ---------- ----------
18.25
pence 1,500,000
---------- ----------
--- --------------------------------- ----------------------------------------
e) Date of the transaction: 2017-06-22
18:30 hrs UTC
--- --------------------------------- ----------------------------------------
f) Place of the transaction: Outside a trading
venue
--- --------------------------------- ----------------------------------------
1. Details of the person discharging managerial
responsibilities/person closely associated
--- ---------------------------------------------------------------------------
a) Name: Peter Damouni
--- --------------------------------- ----------------------------------------
2. Reason for the notification
--- ---------------------------------------------------------------------------
a) Position/status: Non-Executive
Director
--- --------------------------------- ----------------------------------------
b) Initial notification/Amendment: Initial notification
--- --------------------------------- ----------------------------------------
3. Details of the issuer, emission allowance
market participant, auction platform, auctioneer
or auction monitor
--- ---------------------------------------------------------------------------
a) Name: Georgian Mining
Corporation
--- --------------------------------- ----------------------------------------
b) LEI: 2138002IOR7OCZZPB279
--- --------------------------------- ----------------------------------------
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
instrument, type of instrument: over ordinary
Identification code: shares of no par
value
VGG9688A1003
--- --------------------------------- ----------------------------------------
b) Nature of the transaction: Grant of options
over ordinary
shares
--- --------------------------------- ----------------------------------------
c) Price(s) and volume(s): Price(s) Volume(s)
------------- ----------
18.25 pence 1,000,000
------------- ----------
--- --------------------------------- ----------------------------------------
d) Aggregated information: Single transaction
Aggregated volume: as in 4 c) above Price(s) Volume(s)
Price: ---------- ----------
18.25
pence 1,000,000
---------- ----------
--- --------------------------------- ----------------------------------------
e) Date of the transaction: 2017-06-23
18:30 hrs UTC
--- --------------------------------- ----------------------------------------
f) Place of the transaction: Outside a trading
venue
--- --------------------------------- ----------------------------------------
1. Details of the person discharging managerial
responsibilities/person closely associated
--- ---------------------------------------------------------------------------
a) Name: Neil O'Brien
--- --------------------------------- ----------------------------------------
2. Reason for the notification
--- ---------------------------------------------------------------------------
a) Position/status: Non-Executive
Director
--- --------------------------------- ----------------------------------------
b) Initial notification/Amendment: Initial notification
--- --------------------------------- ----------------------------------------
3. Details of the issuer, emission allowance
market participant, auction platform, auctioneer
or auction monitor
--- ---------------------------------------------------------------------------
a) Name: Georgian Mining
Corporation
--- --------------------------------- ----------------------------------------
b) LEI: 2138002IOR7OCZZPB279
--- --------------------------------- ----------------------------------------
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
instrument, type of instrument: over ordinary
Identification code: shares of no par
value
VGG9688A1003
--- --------------------------------- ----------------------------------------
b) Nature of the transaction: Grant of options
over ordinary
shares
--- --------------------------------- ----------------------------------------
c) Price(s) and volume(s): Price(s) Volume(s)
------------- ----------
18.25 pence 500,000
------------- ----------
--- --------------------------------- ----------------------------------------
d) Aggregated information: Single transaction
Aggregated volume: as in 4 c) above Price(s) Volume(s)
Price: ---------- ----------
18.25
pence 500,000
---------- ----------
--- --------------------------------- ----------------------------------------
e) Date of the transaction: 2017-06-23
18:30 hrs UTC
--- --------------------------------- ----------------------------------------
f) Place of the transaction: Outside a trading
venue
--- --------------------------------- ----------------------------------------
1. Details of the person discharging managerial
responsibilities/person closely associated
--- ---------------------------------------------------------------------------
a) Name: Laurence Mutch
--- --------------------------------- ----------------------------------------
2. Reason for the notification
--- ---------------------------------------------------------------------------
a) Position/status: Non-Executive
Director
--- --------------------------------- ----------------------------------------
b) Initial notification/Amendment: Initial notification
--- --------------------------------- ----------------------------------------
3. Details of the issuer, emission allowance
market participant, auction platform, auctioneer
or auction monitor
--- ---------------------------------------------------------------------------
a) Name: Georgian Mining
Corporation
--- --------------------------------- ----------------------------------------
b) LEI: 2138002IOR7OCZZPB279
--- --------------------------------- ----------------------------------------
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
instrument, type of instrument: over ordinary
Identification code: shares of no par
value
VGG9688A1003
--- --------------------------------- ----------------------------------------
b) Nature of the transaction: Grant of options
over ordinary
shares
--- --------------------------------- ----------------------------------------
c) Price(s) and volume(s): Price(s) Volume(s)
------------- ----------
18.25 pence 250,000
------------- ----------
--- --------------------------------- ----------------------------------------
d) Aggregated information: Single transaction
Aggregated volume: as in 4 c) above Price(s) Volume(s)
Price: ---------- ----------
18.25
pence 250,000
---------- ----------
--- --------------------------------- ----------------------------------------
e) Date of the transaction: 2017-06-22
18:30 hrs UTC
--- --------------------------------- ----------------------------------------
f) Place of the transaction: Outside a trading
venue
--- --------------------------------- ----------------------------------------
**ENDS**
For further information please visit www.georgianmining.com or
contact:
Greg Kuenzel Georgian Mining Company Tel: 020 7907
Corporation 9327
Ewan Leggat S. P. Angel Corporate Nomad & Tel: 020 3470
Finance LLP Broker 0470
Damon Heath Shard Capital Partners Joint Broker Tel: 0207
LLP 186 9950
Frank Buhagiar St Brides Partners PR Tel: 020 7236
Ltd 1177
About Georgian Mining Corporation
Georgian Mining Corporation has 50% ownership and operational
control of the Bolnisi Copper and Gold Project in Georgia, situated
on the prolific Tethyan Belt, a well-known geological region and
host to many high-grade copper-gold deposits and producing mines.
The Bolnisi licence covers an area of over 860 sq km and has a
30-year mining licence with two advanced exploration projects;
Kvemo Bolnisi and Tsitsel Sopeli. These projects are nearby
existing mining operations owned by the Company's supportive joint
venture partner. Georgia has an established mining code and is a
jurisdiction open to direct foreign investment.
The Company is developing the project in three phases:
-- Phase 1: H1 2017 target to delineate a minimum of 1-2 Mt to
support initial spare capacity (now achieved and exceeded)
-- Phase 2: 2017 target to delineate a 3-5 Mt resource of
combined copper-gold sulphide and gold oxide mineralisation (on
target)
-- Phase 3: Long term target - to delineate a resource of 50Mt+
This information is provided by RNS
The company news service from the London Stock Exchange
END
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