Xtract Resources plc Award of Share Options (2475Q)
February 24 2021 - 11:34AM
UK Regulatory
TIDMXTR
RNS Number : 2475Q
Xtract Resources plc
24 February 2021
For immediate release
24 February 2021
Xtract Resources Plc
("Xtract" or the "Company")
Award of Share Options
Director / PDMR Shareholding
Award of Share Options
The Board of Xtract announces that on 24 February 2021, the
Company awarded 24,800,000 new options over ordinary shares ("New
Options"). 16,000,000 New Options (representing 2.17 per cent. of
the current issued share capital) have been awarded to Directors
(other than Peter Moir, Non-executive Director who chaired the
Remuneration Committee and who has approved the option award) and a
further 8,800,000 New Options (representing 1.20 per cent. of the
current issued share capital) have been awarded to employees,
consultants and officers of the Company.
The New Options vest and are exercisable immediately on award,
with an exercise price of 10.00p. The New Options will lapse five
years after the date of the award, being 24 July 2026.
The exercise price represents a 61 per cent. premium to the
Xtract ordinary share mid-market closing price of 6.20p as at 23
February 2021, and a 83 per cent. premium to the 30-day volume
weighted average share price for the 30 trading days ended 23
February 2021.
Further details of the New Options awards are as follows:
Number of
Individual New Options
----------------- ------------
Directors:
Colin Bird 10,000,000
Jeremy Read 1,000,000
Alastair Ford 1,000,000
Joel Silberstein 4,000,000
Other PDMR(s):
Eduard Victor 2,000,000
Employees:
Other 6,800,000
Total 24,800,000
------------
A copy of this announcement: www.xtractresources.com
Enquiries :
Xtract Resources Plc Colin Bird, +44 (0)20 3416 6471
Executive Chairman www.xtractresources.com
Beaumont Cornish Limited Roland Cornish +44 (0)207628 3369
Nominated Adviser and Michael Cornish www.beaumontcornish.co.uk
Joint Broker Felicity Geidt
Novum Securities Limited Jon Bellis +44 (0) 207 399 9427
Joint Broker Colin Rowbury www.novumsecurities.com
The following disclosure is made in accordance with Article 19
of the EU Market Abuse Regulation 596/2014.
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name 1. Colin Bird
2. Joel Silberstein
3. Alastair Ford
4. Jeremy Read
5. Eduard Victor
-------------------------- ---------------------------------------------------------------------------
2 Reason for the notification
-------------------------------------------------------------------------------------------------------
a) Position/status 1. Chairman
2. Finance Director
3. Non-Executive Director
4. Non-Executive Director
5. Chief Operating Officer (Non-Board)
-------------------------- ---------------------------------------------------------------------------
b) Initial notification Initial Notification
/Amendment
-------------------------- ---------------------------------------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-------------------------------------------------------------------------------------------------------
a) Name Xtract Resources plc
-------------------------- ---------------------------------------------------------------------------
b) LEI 213800A71LZ79EKUNC34
-------------------------- ---------------------------------------------------------------------------
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 Options over Ordinary Shares of 0.02p each
financial instrument, ("Ordinary Shares")
type of instrument
Identification code ISIN: GB00BYSX2795
b) Nature of the transaction Issue of Options over Ordinary Shares
-------------------------- ---------------------------------------------------------------------------
c) Price(s) and volume(s) Director Price payable on exercise of option Volume(s)
----------------- -------------------------------------- ----------
Colin Bird P 10.00 10,000,000
Joel Silberstein P 10.00 4,000,000
Alastair Ford p 10.00 1,000,000
Jeremy Read p 10.00 1,000,000
Eduard Victor p 10.00 2,000,000
-----------------------------------------------------------------------
d) Aggregated information
- Aggregated volume 18,000,000 options over Ordinary Shares
- Price 18,000,000 exercisable at 10.00p
e) Date of the transaction 24 February 2021
-------------------------- ---------------------------------------------------------------------------
f) Place of the transaction Outside a trading venue
-------------------------- ---------------------------------------------------------------------------
ENDS
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