ECR Minerals plc Issue of Options
February 27 2017 - 5:03AM
UK Regulatory
TIDMECR
AIM: ECR
US OTC: MTGDY
ECR MINERALS plc
("ECR Minerals", "ECR" or the "Company")
ISSUE OF OPTIONS
LONDON: 27 FEBRUARY 2017 - The directors of ECR Minerals plc
(the "Directors"), a gold exploration company with assets in
Australia, Argentina and the Philippines, announces the grant of
8,153,968 share options (the "Options") to two executive directors.
The Options have been granted under the Company's unapproved share
option plan (the "Option Plan").
Each Option is exercisable to acquire one ordinary share of the
Company at a price of 1.725 pence per share. The Options will
remain valid, subject to the rules of the Option Plan, until the
fifth anniversary of the date of grant. The Options will vest
immediately.
The exercise price of the Options equates to a premium of 50% to
the closing mid-market price of the Company's shares on AIM on 24
February 2017.
Options have been granted to directors of the Company as
follows:
Director Number of Number of Total number of % of current
options options options held issued
held granted ordinary
prior to share capital
this
grant
Craig Brown 0 4,076,984 4,076,984 3.00%
Ivor Jones 0 4,076,984 4,076,984 3.00%
William Howell 0 0 0 0%
Christian Dennis 0 0 0 0%
William Howell, Non-Executive Chairman of ECR, commented:
"The executive directors are working hard in a smart, efficient
and results oriented manner to drive the business forward and build
value for our shareholders. It is crucial that this high level of
commitment is maintained and that the interests of directors remain
aligned with those of shareholders. Incentive share options are an
important means of achieving this."
The grant of options to directors of the Company constitutes
related party transactions under the AIM Rules for Companies.
William Howell and Christian Dennis, being the directors who are
independent of the related party transactions, consider, having
consulted with Cairn Financial Advisers LLP, the Company's
Nominated Adviser, that the terms of the transaction are fair and
reasonable insofar as ECR's shareholders are concerned.
Market Abuse Regulations (EU) No. 596/2014
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014 (MAR). Upon the
publication of this announcement via Regulatory Information Service
(RIS), this inside information is now considered to be in the
public domain.
FOR FURTHER INFORMATION, PLEASE CONTACT:
ECR Minerals plc Tel: +44 (0)20 7929 1010
William (Bill) Howell, Non-Executive Chairman
Craig Brown, Director & CEO
Ivor Jones, Director & COO
Email:
info@ecrminerals.com
Website:www.ecrminerals.com
Cairn Financial Advisers LLP Tel: +44 (0)20 7213 0880
Nominated Adviser
Emma Earl / Jo Turner
Optiva Securities Ltd Tel: +44 (0)203 137 1902
Broker
Graeme Dickson
FlowComms Tel: +44 (0)7891 677 441
Investor Relations
Sasha Sethi
Blytheweigh Tel: +44 (0)20 7138 3204
Public Relations
Tim Blythe / Camilla Horsfall / Nick Elwes
ABOUT ECR
ECR is a mineral exploration and development company. In
addition to the Danglay project discussed in this update, ECR's
wholly owned Australian subsidiary Mercator Gold Australia has 100%
ownership rights in respect of the Avoca and Bailieston gold
projects in Victoria, Australia. ECR's wholly owned subsidiary
Ochre Mining has a 100% interest in the SLM gold project in La
Rioja, Argentina. Exploration at SLM has focused on identifying
small tonnage mesothermal gold deposits which may be suitable for
relatively near term production.
The information below, set out in accordance with the
requirements of the EU Market Abuse Regulation, provides further
detail on shares acquired.
1 Details of the person discharging managerial responsibilities/person closely associated
a) Name Craig Brown
2 Reason for the notification
a) Position/status Chief Executive Officer & Director
b) Initial notification/ Amendment Initial Notification
3 Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a) Name ECR Minerals Plc
b) LEI N/A
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, type of instrument Issue of options over ordinary shares of 0.001p each
Identification code GB00BYYDKX57
b) Nature of the transactions Issue of options over Ordinary Shares
c) Price(s) and volume(s) Price(s) Volume(s)
1.725 p 4,076,984
d) Aggregated information
- Aggregated volume 4,076,984
- Price 1.725 p
e) Date of the transaction 27 February 2017
f) Place of the transaction London Stock Exchange, AIM
1 Details of the person discharging managerial responsibilities/person closely associated
a) Name Ivor Jones
2 Reason for the notification
a) Position/status Chief Operating Officer & Director
b) Initial notification/ Amendment Initial Notification
3 Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a) Name ECR Minerals Plc
b) LEI N/A
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, type of instrument Issue of options over ordinary shares of 0.001p each
Identification code GB00BYYDKX57
b) Nature of the transactions Issue of options over Ordinary Shares
c) Price(s) and volume(s) Price(s) Volume(s)
1.725 p 4,076,984
d) Aggregated information
- Aggregated volume 4,076,984
- Price 1.725 p
e) Date of the transaction 27 February 2017
f) Place of the transaction London Stock Exchange, AIM
View source version on businesswire.com:
http://www.businesswire.com/news/home/20170227005609/en/
This information is provided by Business Wire
(END) Dow Jones Newswires
February 27, 2017 06:03 ET (11:03 GMT)
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