TIDMEST
RNS Number : 4162R
East Star Resources PLC
01 March 2023
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN
PART, DIRECTLY OR INDIRECTLY IN OR INTO THE UNITED STATES,
AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER
JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE
RELEVANT LAWS OF SUCH JURISDICTION.
1 March 2023
East Star Resources Plc
("East Star" or the "Company")
Adoption of Long-Term Incentive Plan
Grant of Options
East Star Resources Plc (LSE:EST), the Kazakhstan-focused
minerals exploration company, announces that the Company's
Remuneration Committee has approved the adoption of a long term
incentive plan ("LTIP"). On the recommendation of the Remuneration
Committee, the Company has granted an aggregate of 4,794,686
options over new ordinary shares in the Company to employees and
non-executive directors of the Company (the "Options") to be
approved by shareholders at the next Annual General Meeting.
The Options will vest in three equal tranches on each of the
first three anniversaries of the grant date (being 1 March 2023)
and will expire on 28 February 2033. The exercise price of the
Options is 4.3p and was calculated by a 30-day VWAP prior to the
approval of the LTIP on 28 February 2023 and represents a 27.2
percent premium to the Company's closing share price on 28 February
2023.
2,898,551 of the Options have been granted to the Company's
Chief Executive Officer, Alex Walker, and the notification below,
provided in accordance with the UK MAR Regulation (as defined
below), provides further details.
869,565 of the Options have been granted to the Company's
non-executive directors and the notification below, provided in
accordance with the UK MAR Regulation, provides further
details.
A further 1,026,570 Options have been granted to employees of
the Company in Kazakhstan on the same terms as described above.
It is East Star's objective to establish a strong sense of
ownership in the Company's future by all its employees. The
granting of the Options under the employee LTIP recognises the
loyalty of employees to date as well as their achievements and the
work ethic they have demonstrated since joining the Company.
An ordinary resolution will be proposed at the next Annual
General Meeting of the Company to approve the terms of the LTIP and
the grant of the Options referred to in this announcement.
The Notification of Dealing Forms set out in the appendix below
are provided in accordance with the requirements of the retained EU
law version of the Market Abuse Regulation (596/2014) that has
applied in the UK following Brexit (UK MAR Regulation).
For further information visit the Company's website at
www.eaststarplc.com , or contact:
East Star Resources Plc
Alex Walker, Chief Executive Officer
Tel: +44 (0)20 7390 0234 (via Vigo Consulting)
Peterhouse Capital Limited (Corporate Broker and Placing
Agent)
Duncan Vasey / Lucy Williams
Tel: +44 (0) 20 7469 0930
Vigo Consulting (Investor Relations)
Ben Simons / Peter Jacob
Tel: +44 (0)20 7390 0234
About East Star Resources Plc
East Star Resources is focused on the discovery and development
of gold, rare earth, and copper deposits in Kazakhstan. With an
initial nine licences covering 1,687 square kilometres in three
mineral rich districts, East Star is undertaking an intensive
exploration programme, applying modern geophysics and
out-of-the-box geological concepts to discover minerals under cover
and at depths not previously explored. The Company also intends to
further expand its licence portfolio in Kazakhstan. East Star's
management are based permanently on the ground, supported by local
expertise, and joint ventures with the state mining company.
Follow us on social media:
LinkedIn:
https://www.linkedin.com/company/east-star-resources/
Twitter: https://twitter.com/EastStar_PLC
Subscribe to our email alert service to be notified whenever
East Star releases news:
www.eaststarplc.com/newsalerts
The person who arranged for the release of this announcement was
Alex Walker, CEO of the Company.
Appendix - Notification of Dealing Forms
1. Details of the person discharging managerial responsibilities/person
closely associated
a) Name Alex Walker
------------------------- -------------------------------------------------------------
2. Reason for
notification
------------------------- -------------------------------------------------------------
a) Position/Status Director
------------------------- -------------------------------------------------------------
b) Initial notification/ Initial notification
Amendment
------------------------- -------------------------------------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
----------------------------------------------------------------------------------------
a) Name East Star Resources PLC
------------------------- -------------------------------------------------------------
b) LEI 2138001Y6SMQC8DX2B40
------------------------- -------------------------------------------------------------
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 one pence each
instrument,
type of instrument
ISIN: GB00BN92HZ16
Identification
Code
------------------------- -------------------------------------------------------------
b) Nature of the Grant of awards over Ordinary Shares under
transaction the Company's Long Term Incentive Plan. No
consideration was paid for the grant of awards.
------------------------- -------------------------------------------------------------
c) Price(s) and LTIP Award
volume(s)
-------------------------
Price Volume
-------------------------
Nil cost award 2,898,551
------------------------------------------------------- ------------
d) Aggregated information Awards granted over 2,898,551 shares in total
- Aggregated
Volume
N/A
- Price
------------------------- -------------------------------------------------------------
e) Date of the 28/02/2023
transaction
------------------------- -------------------------------------------------------------
f) Place of the Off-market transaction
transaction
------------------------- -------------------------------------------------------------
1. Details of the person discharging managerial responsibilities/person
closely associated
a) Name Sandy Barblett
------------------------- -------------------------------------------------------------
2. Reason for
notification
------------------------- -------------------------------------------------------------
a) Position/Status Director
------------------------- -------------------------------------------------------------
b) Initial notification/ Initial notification
Amendment
------------------------- -------------------------------------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
----------------------------------------------------------------------------------------
a) Name East Star Resources PLC
------------------------- -------------------------------------------------------------
b) LEI 2138001Y6SMQC8DX2B40
------------------------- -------------------------------------------------------------
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 one pence each
instrument,
type of instrument
ISIN: GB00BN92HZ16
Identification
Code
------------------------- -------------------------------------------------------------
b) Nature of the Grant of awards over Ordinary Shares under
transaction the Company's Long Term Incentive Plan. No
consideration was paid for the grant of awards.
------------------------- -------------------------------------------------------------
c) Price(s) and LTIP Award
volume(s)
-------------------------
Price Volume
-------------------------
Nil cost award 289,855
------------------------------------------------------- ------------
d) Aggregated information Awards granted over 289,855 shares in total
- Aggregated
Volume
N/A
- Price
------------------------- -------------------------------------------------------------
e) Date of the 28/02/2023
transaction
------------------------- -------------------------------------------------------------
f) Place of the Off-market transaction
transaction
------------------------- -------------------------------------------------------------
1. Details of the person discharging managerial responsibilities/person
closely associated
a) Name David Minchin
--------------------------- -------------------------------------------------------
2. Reason for notification
--------------------------- -------------------------------------------------------
a) Position/Status Director
--------------------------- -------------------------------------------------------
b) Initial notification/ Initial notification
Amendment
--------------------------- -------------------------------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
------------------------------------------------------------------------------------
a) Name East Star Resources PLC
--------------------------- -------------------------------------------------------
b) LEI 2138001Y6SMQC8DX2B40
--------------------------- -------------------------------------------------------
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 one pence each
instrument, type
of instrument
ISIN: GB00BN92HZ16
Identification
Code
--------------------------- -------------------------------------------------------
b) Nature of the Grant of awards over Ordinary Shares under
transaction the Company's Long Term Incentive Plan.
No consideration was paid for the grant
of awards.
--------------------------- -------------------------------------------------------
c) Price(s) and volume(s) LTIP Award
---------------------------
Price Volume
---------------------------
Nil cost award 289,855
------------------------------------------------------- -----------
Aggregated information Awards granted over 289,855 shares in
total
- Aggregated Volume
- Price
N/A
--------------------------- -------------------------------------------------------------
d) Date of the transaction 28/02/2023
--------------------------- -------------------------------------------------------
e) Place of the transaction Off-market transaction
--------------------------- -------------------------------------------------------
1. Details of the person discharging managerial responsibilities/person
closely associated
a) Name Anthony Eastman
----------------------------- -----------------------------------------------------
2. Reason for notification
----------------------------- -----------------------------------------------------
a) Position/Status Director
----------------------------- -----------------------------------------------------
b) Initial notification/ Initial notification
Amendment
----------------------------- -----------------------------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
------------------------------------------------------------------------------------
a) Name East Star Resources PLC
----------------------------- -----------------------------------------------------
b) LEI 2138001Y6SMQC8DX2B40
----------------------------- -----------------------------------------------------
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, Ordinary shares of one pence each
type of instrument
Identification ISIN: GB00BN92HZ16
Code
----------------------------- -----------------------------------------------------
b) Nature of the transaction Grant of awards over Ordinary Shares
under the Company's Long Term Incentive
Plan. No consideration was paid for the
grant of awards.
----------------------------- -----------------------------------------------------
c) Price(s) and volume(s) LTIP Award
-----------------------------
Price Volume
-----------------------------
Nil cost award 289,855
-------------------------------------------------------- -----------
Aggregated information Awards granted over 289,855 shares in
total
- Aggregated Volume
- Price
N/A
----------------------------- -----------------------------------------------------------
d) Date of the transaction 28/02/2023
----------------------------- -----------------------------------------------------
e) Place of the transaction Off-market transaction
----------------------------- -----------------------------------------------------
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END
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