TIDMBEM
RNS Number : 0647N
Beowulf Mining PLC
14 January 2019
14 January 2019
Beowulf Mining Plc
("Beowulf" or the "Company")
Award of Options
Beowulf (AIM: BEM; Spotlight: BEO), the Nordic focused mineral
exploration and development company, announces that today options
have been granted over a total of 8,000,000 ordinary shares of 1
pence each in the capital of the Company ("Share Options"),
representing approximately 1.41% of the issued share capital of the
Company, to certain directors and a senior manager of the Company,
as outlined below:
Position Number of Options Total number
Granted of Options
held
Kurt Budge Chief Executive Officer 3,500,000 13,000,000
------------------------- ------------------ -------------
Christopher Davies Non-Executive Director 2,500,000 5,000,000
------------------------- ------------------ -------------
Rasmus Blomqvist Exploration Manager 2,000,000 4,000,000
------------------------- ------------------ -------------
In addition to the above, 1,250,000 Share Options have been
granted to certain other employees of the Company.
This award of the Share Options recognises the contribution made
by the directors and employees to the continued advancement of the
Company. Options were last awarded to Kurt Budge in July 2015, and
to Christopher Davies and Rasmus Blomqvist in January 2017.
The Share Options are exercisable at a price of 7.35 pence per
share, being a 30% premium to the closing mid-price of 5.65 pence
per share on 11 January 2019. The Share Options fully vest one year
from the date of grant or fully vest immediately if the individual
leaves the Company. The Share Options are valid for five years from
the date of grant.
Following the grant of Share Options, there will be 23,250,000
ordinary shares of 1 pence each of the Company under option to
directors and employees of the Company, representing 4.10% of the
existing issued ordinary share capital of the Company.
Kurt Budge and Christopher Davies are directors of Beowulf and
Rasmus Blomqvist is a director of a subsidiary of Beowulf, Oy
Fennoscandian Resources AB, and are therefore regarded as related
parties as defined by the AIM Rules for Companies (the "AIM
Rules"). The grant of Share Options to each of them is classified
as a related party transaction for the purposes of Rule 13 of the
AIM Rules. Mr Göran Färm, being the independent director for the
purposes of Rule 13, 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.
Enquiries:
Beowulf Mining plc
Kurt Budge, Chief Executive Officer Tel: +44 (0) 20 3771
6993
SP Angel
(Nominated Adviser & Broker)
Ewan Leggat / Soltan Tagiev Tel: +44 (0) 20 3470 0470
Blytheweigh
Tim Blythe / Megan Ray Tel: +44 (0) 20 7138 3204
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 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) Name Kurt Budge
----------------------------------------- ----------------------------
2. Reason for the notification
-----------------------------------------------------------------------
a) Position/status PDMR - Chief Executive
Officer
----------------------------------------- ----------------------------
b) Initial notification /Amendment Initial Notification
----------------------------------------- ----------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-----------------------------------------------------------------------
a) Name Beowulf Mining plc
----------------------------------------- ----------------------------
b) LEI 213800MV3XGAOASPT433
----------------------------------------- ----------------------------
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 instrument, Share options over ordinary
type of instrument shares of 1p each
Identification code
GB0033163287
----------------------------------------- ----------------------------
b) Nature of the transaction Award of share options
over ordinary shares
----------------------------------------- ----------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
7.35 pence 3,500,000
----------
----------------------------------------- ----------------------------
d) Aggregated information Not applicable
- Aggregated volume
- Price
----------------------------------------- ----------------------------
e) Date of the transaction 14 January 2019
----------------------------------------- ----------------------------
f) Place of the transaction Outside a trading venue
----------------------------------------- ----------------------------
1. Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Christopher Davies
----------------------------------------- ------------------------------
2. Reason for the notification
-------------------------------------------------------------------------
a) Position/status PDMR - 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 Beowulf Mining plc
----------------------------------------- ------------------------------
b) LEI 213800MV3XGAOASPT433
----------------------------------------- ------------------------------
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 instrument, Share options over ordinary
type of instrument shares of 1p each
Identification code
GB0033163287
----------------------------------------- ------------------------------
b) Nature of the transaction Award of share options
over ordinary shares
----------------------------------------- ------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
7.35 pence 2,500,000
----------
----------------------------------------- ------------------------------
d) Aggregated information Not applicable
- Aggregated volume
- Price
----------------------------------------- ------------------------------
e) Date of the transaction 14 January, 2019
----------------------------------------- ------------------------------
f) Place of the transaction Outside a trading venue
----------------------------------------- ------------------------------
1. Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Rasmus Blomqvist
----------------------------------------- ----------------------------
2. Reason for the notification
-----------------------------------------------------------------------
a) Position/status PDMR - Exploration Manager
----------------------------------------- ----------------------------
b) Initial notification /Amendment Initial Notification
----------------------------------------- ----------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-----------------------------------------------------------------------
a) Name Beowulf Mining plc
----------------------------------------- ----------------------------
b) LEI 213800MV3XGAOASPT433
----------------------------------------- ----------------------------
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 instrument, Share options over ordinary
type of instrument shares of 1p each
Identification code
GB0033163287
----------------------------------------- ----------------------------
b) Nature of the transaction Award of share options
over ordinary shares
----------------------------------------- ----------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
7.35 pence 2,000,000
----------
----------------------------------------- ----------------------------
d) Aggregated information Not applicable
- Aggregated volume
- Price
----------------------------------------- ----------------------------
e) Date of the transaction 14 January, 2019
----------------------------------------- ----------------------------
f) Place of the transaction Outside a trading venue
----------------------------------------- ----------------------------
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
DSHLLFVDLLISLIA
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