TIDMSML
RNS Number : 8951E
Strategic Minerals PLC
15 February 2018
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.
15 February 2018
Strategic Minerals plc
("Strategic Minerals", "SML" or the "Company")
Allocation of Directors' Options
Strategic Minerals plc (AIM: SML; USOTC: SMCDY), the diversified
mineral development and production company, is pleased to announce
that it has, today, formally established the three Tranche Options
Programme as proposed in the circular and notice of General Meeting
sent to shareholders of the Company on 3 October 2017, and which
shareholders overwhelmingly endorsed in the General Meeting held by
the Company on 19 October 2017.
The three tranches established are as follows:
Tranche Number of Vesting Exercise Maturity
Options Price Price Date
30 June
1 120,000,000 GBP0.055 GBP0.0275 2020
30 June
2 55,000,000 GBP0.075 GBP0.0375 2021
30 June
3 25,000,000 GBP0.100 GBP0.0500 2022
The Board has, today, issued options only to Board members as
outlined in the documentation provided to shareholders prior to the
October General Meeting. Accordingly, the following options have
today been issued:
Tranche John Peters Alan Broome Peter Wale Total Issued
1 36,000,000 24,000,000 12,000,000 72,000,000
2 16,500,000 11,000,000 11,000,000 38,500,000
3 7,500,000 5,000,000 5,000,000 17,500,000
The Board has consciously established these tranches to provide
a framework which shareholders have approved and within which the
Board can, as it considers appropriate, allocate to other
individuals involved in achieving the Company's objectives.
Throughout this process, the Board has maintained the highest
levels of transparency with shareholders.
It is envisaged that further option allocations will be
completed in the first half of 2018 but that the options available
under the programme may not be fully allocated for some years.
Managing Director of Strategic Minerals, Mr John Peters,
commented:
"The formal establishment of option tranches completes the work
commenced in the second half of 2017. It creates a framework which
incentivises the Board and Management to create shareholder value
and ensures they are aligned with the Company's growth
aspirations.
"Whilst today's allocations are only to Board members, as
previously outlined to shareholders, the balance will, in time, be
provided to those individuals who significantly contribute to the
performance of the Company and support it in achieving its
targets."
As John Peters, Alan Broome and Peter Wale are all directors of
the Company, the grant of the Options constitutes a related party
transaction pursuant to AIM Rule 13. Jeff Harrison, being the only
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.
PDMR Disclosure
The notifications below, made in accordance with the
requirements of the EU Market Abuse Regulation, provide further
detail on the director's share dealing.
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) Full name of person Dealing John Peters
----- -------------------------------- -----------------------------------------
2. Reason for notification
----- ---------------------------------------------------------------------------
(b) Position/status Managing Director
----- -------------------------------- -----------------------------------------
(c) Initial notification/ Amendment Initial notification
----- -------------------------------- -----------------------------------------
3. Details of the issuer, emission allowance
market participant, auction platform, auctioneer
or auction monitor
----- ---------------------------------------------------------------------------
(d) Name of entity Strategic Minerals
Plc
----- -------------------------------- -----------------------------------------
(e) LEI 213800DICA5NPVOJT776
----- -------------------------------- -----------------------------------------
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 0.1 pence
each in the Company
----- -------------------------------- -----------------------------------------
(b) Identification code GB00B4W8PD74
----- -------------------------------- -----------------------------------------
(c) Nature of the transaction Grant of options
over ordinary shares
----- -------------------------------- -----------------------------------------
(d) Price(s) and volume(s) Prices(s) Volume(s)
------------- ------------
2.75 pence 36,000,000
3.75 pence 16,500,000
5.00 pence 7,500,000
------------- ------------
----- -------------------------------- -----------------------------------------
(e) Aggregated information: Single transaction
- Aggregated volume as in 4(d) above Prices(s) Volume(s)
- Price ----------- -----------
3.30625
pence 60,000,000
----------- -----------
----- -------------------------------- -----------------------------------------
(f) Date of transaction 15 February 2018
----- -------------------------------- -----------------------------------------
(g) Place of transaction Outside a trading
venue
----- -------------------------------- -----------------------------------------
1. Details of the person discharging managerial
responsibilities/person closely associated
----- ---------------------------------------------------------------------------
(a) Full name of person Dealing Alan Broome
----- -------------------------------- -----------------------------------------
2. Reason for notification
----- ---------------------------------------------------------------------------
(a) Position/status Non-Executive Chairman
----- -------------------------------- -----------------------------------------
(b) Initial notification/ Amendment Initial notification
----- -------------------------------- -----------------------------------------
3. Details of the issuer, emission allowance
market participant, auction platform, auctioneer
or auction monitor
----- ---------------------------------------------------------------------------
(a) Name of entity Strategic Minerals
Plc
----- -------------------------------- -----------------------------------------
(b) LEI 213800DICA5NPVOJT776
----- -------------------------------- -----------------------------------------
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
----- ---------------------------------------------------------------------------
(c) Description of the financial Options over ordinary
instrument, type of instrument shares of 0.1 pence
each in the Company
----- -------------------------------- -----------------------------------------
(d) Identification code GB00B4W8PD74
----- -------------------------------- -----------------------------------------
(e) Nature of the transaction Grant of options
over ordinary shares
----- -------------------------------- -----------------------------------------
(f) Price(s) and volume(s) Prices(s) Volume(s)
------------- ------------
2.75 pence 24,000,000
3.75 pence 11,000,000
5.00 pence 5,000,000
------------- ------------
----- -------------------------------- -----------------------------------------
(g) Aggregated information: Single transaction
- Aggregated volume as in 4(d) above Prices(s) Volume(s)
- Price ----------- -----------
3.30625
pence 40,000,000
----------- -----------
----- -------------------------------- -----------------------------------------
(h) Date of transaction 15 February 2018
----- -------------------------------- -----------------------------------------
(i) Place of transaction Outside a trading
venue
----- -------------------------------- -----------------------------------------
1. Details of the person discharging managerial
responsibilities/person closely associated
----- -----------------------------------------------------------------------------
(a) Full name of person Dealing Peter Wale
----- -------------------------------- -------------------------------------------
2. Reason for 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 of entity Strategic Minerals
Plc
----- -------------------------------- -------------------------------------------
(b) LEI 213800DICA5NPVOJT776
----- -------------------------------- -------------------------------------------
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 0.1 pence
each in the Company
----- -------------------------------- -------------------------------------------
(b) Identification code GB00B4W8PD74
----- -------------------------------- -------------------------------------------
(c) Nature of the transaction Grant of options
over ordinary shares
----- -------------------------------- -------------------------------------------
(d) Price(s) and volume(s) Prices(s) Volume(s)
------------- ------------
2.75 pence 24,000,000
3.75 pence 11,000,000
5.00 pence 5,000,000
------------- ------------
----- -------------------------------- -------------------------------------------
(e) Aggregated information: Single transaction
- Aggregated volume as in 4(d) above Prices(s) Volume(s)
- Price ------------- -----------
3.544542857
pence 28,000,000
------------- -----------
----- -------------------------------- -------------------------------------------
(f) Date of transaction 15 February 2018
----- -------------------------------- -------------------------------------------
(g) Place of transaction Outside a trading
venue
----- -------------------------------- -------------------------------------------
For further information, please contact:
+61 (0) 414
Strategic Minerals plc 727 965
John Peters
Managing Director
www.strategicminerals.net
Follow Strategic Minerals on:
Vox Markets: https://www.voxmarkets.co.uk/company/SML/
Twitter: @SML_Minerals
LinkedIn: https://www.linkedin.com/company/strategic-minerals-plc
Facebook: https://www.facebook.com/search/top/?q=strategic%20minerals%20plc
+44 (0) 20
SP Angel Corporate Finance LLP 3470 0470
Nominated Adviser and Joint Broker
Ewan Leggat
+44 (0) 20
Yellow Jersey PR 3735 8825
Financial PR
+44 (0) 7747
Charles Goodwin 788 221
+44 (0) 7769
Joe Burgess 325 254
+44 (0) 7951
Henry Wilkinson 402 336
Notes to Editors
Strategic Minerals Plc is an AIM-quoted, diversified mineral
development and production company with projects in the United
States of America, the UK and Australia. The Company is focused on
acquiring and developing cash generative, high quality projects
which meet local market demand for commodities and utilising this
cash flow to undertake value added exploration.
In September 2011, Strategic Minerals purchased its first
cash-generating asset; the Cobre magnetite tailings dam project in
New Mexico, USA which it brought into production in 2012 and which
continues to provide a revenue stream for the Company. The
portfolio was expanded in January 2016 with the acquisition of
shares in Central Australian Rare Earths Pty Ltd, which holds
tenements in Western Australia that are prospective for cobalt,
gold, nickel sulphides and rare earth elements. The Company has
since acquired all shares in Central Australian Rare Earths Pty
Ltd. In May 2016, an additional exploration asset was acquired when
the Company entered into an agreement with New Age Exploration
Limited to acquire up to 50% of the Redmoor Tin/Tungsten project in
Cornwall, UK. This 50% acquisition was completed in February 2017
and the first drilling programme at the project has been completed.
The Company has also exchanged contracts for the acquisition of the
Leigh Creek Copper Mine, situated in the copper rich belt of South
Australia, which is subject to Conditions Precedent.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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