Arc Minerals Limited Directors' Dealing (3540Y)
August 20 2018 - 12:20PM
UK Regulatory
TIDMARCM
RNS Number : 3540Y
Arc Minerals Limited
20 August 2018
20 August 2018
Arc Minerals Ltd
('Arc' or the 'Company')
Directors' Dealing
Arc Minerals announces that following the announcement made
earlier on 20 August 2018, the Remuneration Committee of the
Company agreed in May 2018 to award bonuses to certain members of
the board and senior management team, in recognition of the
transformational progress management made over the past 16 months
during which time the market value of the Company has increased
from approximately GBP3.4M (31 March 2017) to in excess of GBP26M.
The bonus was to be settled in new ordinary shares of no par value
of the Company ("Ordinary Shares") following the publication of the
annual results for the year ended 31 March 2018.
Accordingly, the Company has issued 3,000,000 ordinary shares to
Nick von Schirnding (Executive Chairman), 1,200,000 ordinary shares
to Chuck Forrest (CFO, non-board) and 1,200,000 ordinary shares to
Vassilios Carellas (COO, non-board).
Following the issue, Nick von Schirnding will have a beneficial
interest in 11,103,795 ordinary shares representing an effective
interest of 1.89% of the enlarged issued share capital of the
Company. In addition, Mr von Schirnding has a beneficial interest
in 11,620,125 share options equating to 1.98% of the Company's
enlarged issued share capital.
Following the issue, Chuck Forrest will have a beneficial
interest in 3,731,514 ordinary shares representing an effective
interest of 0.64% of the enlarged issued share capital of the
Company. In addition, Mr Forrest has a beneficial interest in
2,200,000 share options equating to 0.38% of the Company's issued
share capital.
Following the issue, Vassilios Carellas will have a beneficial
interest in 2,345,000 ordinary shares representing an effective
interest of 0.40% of the enlarged issued share capital of the
Company. In addition, Mr Carellas has a beneficial interest in
10,605,515 share options equating to 1.81% of the Company's issued
share capital.
As per the 2018 Annual Report announcement released on 20 August
2018, application has been made for 6,858,333 ordinary shares,
including the 5,400,00 shares above, to be admitted to trading on
the AIM market of the London Stock Exchange ('Admission').
Admission is expected to occur on or around 28 August 2018.
Total Voting Rights
Following the issue of the new ordinary shares announced on 20
August 2018, the total issued share capital of the Company consists
of 586,398,933 Ordinary Shares of no par value with voting rights.
The Company does not hold any Ordinary Shares in treasury.
Therefore, the total number of voting rights in the Company is
586,398,933 and this figure may be used by shareholders in the
Company as the denominator for the calculations by which they will
determine if they are required to notify their interest in, or a
change in their interest in, the share capital of the Company under
the FCA's Disclosure and Transparency Rules.
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: 1. Nick von Schirnding
2. Chuck Forrest
3. Vassilios Carellas
--------------------------------- --------------------------------------------
2. Reason for the notification
-------------------------------------------------------------------------------
a) Position/status: 1. Executive Chairman
2. CFO (non-board)
3. COO (non-board)
--------------------------------- --------------------------------------------
b) Initial notification/Amendment: Initial notification
--------------------------------- --------------------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-------------------------------------------------------------------------------
a) Name: Arc Minerals Limited
--------------------------------- --------------------------------------------
b) LEI: 213800XHFJVCC9GP2G75
--------------------------------- --------------------------------------------
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 no
instrument, type of instrument: par value
Identification code: VGG045791016
--------------------------------- --------------------------------------------
b) Nature of the transaction: Grant of shares
--------------------------------- --------------------------------------------
c) Price(s) and volume(s): Price(s) Volume(s)
1. 3.33 pence 1. 3,000,000
2. 3.33 pence 2. 1,200,000
3. 3.33 pence 3. 1,200,000
--------------------------------- --------------------------------------------
d) Aggregated information: Single transaction as
Aggregated volume: in 4 c) above Price(s) Volume(s)
Price: 3.33
pence 5,400,000
--------------------------------- --------------------------------------------
e) Date of the transaction: 2018-08-20
--------------------------------- --------------------------------------------
f) Place of the transaction: Outside a trading venue
--------------------------------- --------------------------------------------
Contacts
Arc Minerals Ltd +44 (0) 20 3874
Nick von Schirnding (Chairman) 8664
SP Angel (Nominated Adviser & Broker)
Ewan Leggat / Lindsay Mair / Soltan +44 (0) 20 3470
Tagiev 0470
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.
END
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