TIDMHUM
RNS Number : 8525U
Hummingbird Resources PLC
31 March 2023
Hummingbird Resources plc / Ticker: HUM / Index: AIM / Sector:
Mining
31 March 2023
Hummingbird Resources pl c
("Hummingbird" or the "Company")
2023 LTIP & Deferred Share Awards and TVR
Hummingbird Resources plc (AIM: HUM) announces that under the
2023 Long Term Incentive Plan ("LTIP"), the Remuneration Committee
("RemCo") has approved the grant of 20,622,436 restricted share
units ("RSU") awards to employee participants. The Company has also
awarded an annual deferred share award to Hummingbird's
Non-executive Directors, in-line with previous years.
Since 2021, the Company has adopted a long-term employee
incentive scheme that comprises an annual discretionary cash award,
which is based on both corporate and personal targets being met,
and an equity based LTIP, intended to better align Hummingbird
employee participants and shareholders with the objective of
creating medium to long term shareholder value.
The 2023 annual awards have been made in line with the LTIP
rules, with the Remuneration Committee continuing to adopt the
relative Total Shareholder Return performance criteria over the
S&P Commodity Producer Gold Index in order to be able to
receive the LTIP equity award component (as detailed below).
LTIP award vesting is subject to the performance criteria being
met for each respective tranche and continuous employment with
positive performance. The RSUs are expected to vest on 7 February
2026 in two tranches as follows:
a) Retention Tranche: 7,725,724 RSUs will be based on continuous
employment, malice provisions and the employee meeting personal and
Company targets; and
b) Relative TSR Tranche: 12,936,712 RSUs will be based on
Relative Total Shareholder Return from a share price of 7.79 pence
against the S&P Commodity Producers Gold Index, with 25%
vesting for meeting the index, rising on a straight-line basis to
100% for 5% outperformance.
Under the 2023 LTIP, 20,622,436 RSU awards have been approved
and issued, which include 5,359,215 in respect of Daniel Betts and
3,451,767 in respect of Thomas Hill.
The RSUs under the 2023 LTIP consist of options granted over
ordinary shares in the Company ("Shares"), which have an exercise
price of GBP0.01 per Share. Once vested, any RSUs may be exercised
by the holder during a set exercise period determined by the
Company and notified to the option holders. This is intended to be
a minimum of a one-week period per year when the Company is in an
"open period" under MAR. Unvested RSUs will normally lapse on
cessation of employment for any reason. The RSU holders will
normally retain vested RSUs following cessation of employment and
will have two years from the date of cessation of employment to
exercise, after which the RSUs shall lapse.
Non-executive Director Deferred Share Awards
In the same way as previous years, as part of the
Non-executive's remuneration, each Non-executive Director will
receive an annual deferred share award with a value of GBP25,000,
vesting one year from the award date, subject to remaining in
office. These awards must be retained and cannot normally be sold
until the individual ceases to hold office. For the year to 31
December 2023, the awards are as follows:
Name Position Total number of Deferred
Share Awards
--------------------- ------------------------ -------------------------
Attie Roux Non-executive Director 368,189
Ernie Nutter Non-executive Director 368,189
Stephen Betts Non-executive Director 368,189
David Straker-Smith Non-executive Director 368,189
--------------------- ------------------------ -------------------------
Total 1,472,756
----------------------------------------------- -------------------------
Founders Equity Alignment Plan ("FEAP")
Additionally, in accordance with the terms of the FEAP, the
initial Management Incentive Pool vested on 1 February 2023 with no
value accruing to participants, and a new Management Incentive Pool
with a life of up to ten years has been created on a consistent
basis. No value will accrue to the FEAP if the growth in
shareholder value is less than 50% from 1 February 2023.
Issue of shares, Admission and Total Voting Rights
Further, the Company has issued 5,350,000 shares at a price of
10 pence per share to Ananké Solutions (a West African logistics
and mine operation specialist consultant) as settlement, in lieu of
cash, of an amount due of US$652,500, in respect of strategic
advice and provision of operational support to improve performance
at Yanfolila. These shares are subject to a 6-month lock in and
6-month orderly market provision thereafter.
Application has been made to the LSE for the admission of the
5,350,000 shares to trading on AIM, which is expected to take
effect on or around 4 April 2023 ("Admission").
Following Admission, the Company's issued share capital will
consist of 601,918,699 Ordinary Shares, all with voting rights. The
Company currently does not hold shares in treasury. The total
number of voting rights in the Company following Admission is
therefore 601,918,699, which may be used which may be used by
shareholders as the denominator for the calculations by which they
will determine if they are required to notify their interest in, or
a change to their interest in the Company under the FCA's
Disclosure Guidance and Transparency Rules.
**S**
Notes to Editors:
Hummingbird Resources (AIM: HUM) is a multi-asset,
multi-jurisdiction gold production, development and exploration
Company, member of the World Gold Council and founding member of
Single Mine Origin ( www.singlemineorigin.com ). The Company
currently has two core gold projects, the operational Yanfolila
Gold Mine in Mali, and the Kouroussa Gold Mine in Guinea, which
will more than double current gold production when in production,
scheduled for first gold pour the end of Q2 2023. Further, the
Company has a controlling interest in the Dugbe Gold Project in
Liberia that is being developed by Pasofino Gold Limited through an
earn-in agreement. The final feasibility results on Dugbe showcase
2.76Moz in Reserves and strong economics such as a 3.5-year capex
payback period once in production, 14-year life of mine at a low
AISC profile. Our vision is to continue to grow our asset base,
producing profitable ounces, while central to all we do being our
Environmental, Social & Governance ("ESG") policies and
practices.
For further information, please visit hummingbirdresources.co.uk or contact:
Daniel Betts, Hummingbird Resources Tel: +44 (0) 20 7409
CEO plc 6660
Thomas Hill,
FD
Edward Montgomery,
CD
James Spinney Strand Hanson Limited Tel: +44 (0) 20 7409
Ritchie Balmer Nominated Adviser 3494
-------------------------- ----------------------------
James Asensio Canaccord Genuity Limited Tel: +44 (0) 20 7523
Gordon Hamilton Broker 8000
-------------------------- ----------------------------
Bobby Morse Buchanan Tel: +44 (0) 20 7466
Oonagh Reidy Financial PR/IR 5000
George Cleary Email: HUM@buchanan.uk.com
-------------------------- ----------------------------
PDMR forms
1. Details of the person discharging managerial responsibilities
/ person closely associated
a. Name Dan Betts
---------------------------------- -------------------------------
2. Reason for the notification
-------------------------------------------------------------------
a. Position/status Interim Executive Chairman
and CEO
---------------------------------- -------------------------------
b. Initial notification/Amendment Initial Notification
---------------------------------- -------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-------------------------------------------------------------------
a. Name Hummingbird Resources Plc
---------------------------------- -------------------------------
b. LEI 213800PBYMQ6Z2D7UZ96
---------------------------------- -------------------------------
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 Ordinary Shares of 1 pence
instrument, type of instrument each
Identification code GB00B60BWY28
---------------------------------- -------------------------------
b. Nature of the transaction Restricted Share Units Awards
to employees
---------------------------------- -------------------------------
c. Price(s) and volume(s) Price/share Volume (s)
GBP0.01 5,359,215
-----------
---------------------------------- -------------------------------
d. Aggregated information
* Aggregated volume N/A
* Price
---------------------------------- -------------------------------
e. Date of the transactions 31 March 2023
---------------------------------- -------------------------------
f. Place of the transactions London Stock Exchange's AIM
Market
---------------------------------- -------------------------------
1. Details of the person discharging managerial responsibilities
/ person closely associated
a. Name Thomas Hill
---------------------------------- -------------------------------
2. Reason for the notification
-------------------------------------------------------------------
a. Position/status Finance Director
---------------------------------- -------------------------------
b. Initial notification/Amendment Initial Notification
---------------------------------- -------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-------------------------------------------------------------------
a. Name Hummingbird Resources Plc
---------------------------------- -------------------------------
b. LEI 213800PBYMQ6Z2D7UZ96
---------------------------------- -------------------------------
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 Ordinary Shares of 1 pence
instrument, type of instrument each
Identification code GB00B60BWY28
---------------------------------- -------------------------------
b. Nature of the transaction Restricted Share Units Awards
to employees
---------------------------------- -------------------------------
c. Price(s) and volume(s) Price/share Volume (s)
GBP0.01 3,451,767
-----------
---------------------------------- -------------------------------
d. Aggregated information
* Aggregated volume N/A
* Price
---------------------------------- -------------------------------
e. Date of the transactions 31 March 2023
---------------------------------- -------------------------------
f. Place of the transactions London Stock Exchange's AIM
Market
---------------------------------- -------------------------------
1. Details of the person discharging managerial responsibilities
/ person closely associated
a. Name Attie Roux
----------------------------------- ------------------------------
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 Hummingbird Resources Plc
----------------------------------- ------------------------------
b. LEI 213800PBYMQ6Z2D7UZ96
----------------------------------- ------------------------------
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 Ordinary Shares of 1 pence
instrument, type of instrument each
Identification code GB00B60BWY28
----------------------------------- ------------------------------
b. Nature of the transaction Deferred Share Awards
----------------------------------- ------------------------------
c. Price(s) and volume(s) Price/share Volume (s)
GBP0.01 368,189
-----------
----------------------------------- ------------------------------
d. Aggregated information
* Aggregated volume N/A
* Price
----------------------------------- ------------------------------
e. Date of the transactions 31 March 2023
----------------------------------- ------------------------------
f. Place of the transactions London Stock Exchange's AIM
Market
----------------------------------- ------------------------------
1. Details of the person discharging managerial responsibilities
/ person closely associated
a. Name Ernie Nutter
----------------------------------- ------------------------------
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 Hummingbird Resources Plc
----------------------------------- ------------------------------
b. LEI 213800PBYMQ6Z2D7UZ96
----------------------------------- ------------------------------
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 Ordinary Shares of 1 pence
instrument, type of instrument each
Identification code GB00B60BWY28
----------------------------------- ------------------------------
b. Nature of the transaction Deferred Share Awards
----------------------------------- ------------------------------
c. Price(s) and volume(s) Price/share Volume (s)
GBP0.01 368,189
-----------
----------------------------------- ------------------------------
d. Aggregated information
* Aggregated volume N/A
* Price
----------------------------------- ------------------------------
e. Date of the transactions 31 March 2023
----------------------------------- ------------------------------
f. Place of the transactions London Stock Exchange's AIM
Market
----------------------------------- ------------------------------
1. Details of the person discharging managerial responsibilities
/ person closely associated
a. Name Stephen Betts
----------------------------------- ------------------------------
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 Hummingbird Resources Plc
----------------------------------- ------------------------------
b. LEI 213800PBYMQ6Z2D7UZ96
----------------------------------- ------------------------------
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 Ordinary Shares of 1 pence
instrument, type of instrument each
Identification code GB00B60BWY28
----------------------------------- ------------------------------
b. Nature of the transaction Deferred Share Awards
----------------------------------- ------------------------------
c. Price(s) and volume(s) Price/share Volume (s)
GBP0.01 368,189
-----------
----------------------------------- ------------------------------
d. Aggregated information
* Aggregated volume N/A
* Price
----------------------------------- ------------------------------
e. Date of the transactions 31 March 2023
----------------------------------- ------------------------------
f. Place of the transactions London Stock Exchange's AIM
Market
----------------------------------- ------------------------------
1. Details of the person discharging managerial responsibilities
/ person closely associated
a. Name David Straker-Smith
----------------------------------- ------------------------------
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 Hummingbird Resources Plc
----------------------------------- ------------------------------
b. LEI 213800PBYMQ6Z2D7UZ96
----------------------------------- ------------------------------
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 Ordinary Shares of 1 pence
instrument, type of instrument each
Identification code GB00B60BWY28
----------------------------------- ------------------------------
b. Nature of the transaction Deferred Share Awards
----------------------------------- ------------------------------
c. Price(s) and volume(s) Price/share Volume (s)
GBP0.01 368,189
-----------
----------------------------------- ------------------------------
d. Aggregated information
* Aggregated volume N/A
* Price
----------------------------------- ------------------------------
e. Date of the transactions 31 March 2023
----------------------------------- ------------------------------
f. Place of the transactions London Stock Exchange's AIM
Market
----------------------------------- ------------------------------
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
MSCFZGFFRGMGFZM
(END) Dow Jones Newswires
March 31, 2023 02:00 ET (06:00 GMT)
Hummingbird Resources (AQSE:HUM.GB)
Historical Stock Chart
From Nov 2024 to Dec 2024
Hummingbird Resources (AQSE:HUM.GB)
Historical Stock Chart
From Dec 2023 to Dec 2024
