TIDMKEFI
RNS Number : 2171A
KEFI Minerals plc
22 March 2017
22 March 2017
KEFI Minerals plc
("KEFI" or the "Company")
GRANT OF SHARE OPTIONS
KEFI Minerals, the AIM-quoted gold and copper exploration and
development company with projects in the Kingdom of Saudi Arabia
and the Democratic Republic of Ethiopia, announces that, in
accordance with the share option scheme of the Company (the
"Scheme"), the Directors have today approved the recommendation of
the Remuneration and Nominations Committee to make a grant of share
options over 9,535,122 new ordinary shares of 1.7p of the Company
("Ordinary Shares") to Certain Directors and senior managers (the
"Options"). Following the grant of the Options, there will be
options outstanding under the Scheme and pursuant to earlier
arrangements over 6.4% of the issued Ordinary Share capital as
compared with the Scheme limit of 10%.
The Options have an exercise price of 7.5 pence per Ordinary
Share, representing a c. 67% premium to the closing market price
Ordinary Shares on 20 March 2017 and 33% above the placing price of
shares issued in the recent fundraising which completed on 2 March
2017. The Options expire after 6 years and, in normal
circumstances, vest in two equal instalments, the first upon the
achievement of practical completion of the planned processing plant
at the Tulu Kapi Gold Project and the second upon the achievement
of nameplate capacity for a twelve month period.
The Scheme is designed to align the interest of senior employees
with those of shareholders and promote the retention of the
Company's senior management team.
Details of the Options granted to the following persons who
discharge managerial responsibilities ("PDMRs") today are set out
below:
Name Title Number of Number of
new Options Ordinary
granted Shares subject
to Option
following
the grant
of new Options
-------------------------- -------------------- -------------- ----------------
Harry Anagnostaras-Adams Executive Chairman 3,442,184 5,326,773
-------------------------- -------------------- -------------- ----------------
John Leach Finance Director 674,083 2,150,318
-------------------------- -------------------- -------------- ----------------
Non-executive
Ian Plimer Director 441,176 1,221,353
-------------------------- -------------------- -------------- ----------------
Non-executive
Mark Wellesley-Wood Deputy Chairman 882,353 1,470,588
-------------------------- -------------------- -------------- ----------------
Chief Operating
Wayne Nicoletto Officer 1,389,817 2,911,660
-------------------------- -------------------- -------------- ----------------
6,829,613 13,080,692
----------------------------------------------- -------------- ----------------
A further 2,705,509 Options have today been granted to members
of the Company's senior management team.
Following the above grant, there are a total of 21,262,475
incentive share options granted over unissued Ordinary Shares,
representing 6.4% of the Company's current issued Ordinary Share
capital of 332,702,973 Ordinary Shares. The Scheme maximum is
10%.
Harry Anagnostaras-Adams, John Leach, Ian Plimer and Mark
Wellesley-Wood are all directors of the Company and are therefore
regarded as related parties as defined by the AIM Rules for
Companies (the "AIM Rules"). The grant of Options as described
above is therefore a related party transaction for the purposes of
Rule 13 of the AIM Rules. Mr Norman Ling, being the only
independent director, considers, having consulted with the
Company's Nominated Adviser, SP Angel Corporate Finance LLP, that
the terms of the related party transaction is fair and reasonable
insofar as the shareholders of the Company are concerned.
Further details concerning the grant of share options to PDMRs
are set out below:
1. Details of the person discharging managerial
responsibilities/person closely associated
----- ---------------------------------------------------------------------------
(a) Full name of person Dealing Harry Anagnostaras-Adams
----- -------------------------------- -----------------------------------------
2. Reason for notification
----- ---------------------------------------------------------------------------
(a) Position/status Executive Chairman
----- -------------------------------- -----------------------------------------
(b) Initial notification/ Amendment Initial notification
----- -------------------------------- -----------------------------------------
3. Details of the issuer, emission allowance
market participant, auction platform, auctioneer
or auction monitor
----- ---------------------------------------------------------------------------
(a) Name of entity KEFI Minerals Plc
----- -------------------------------- -----------------------------------------
(b) LEI 213800OO6ETVDGE3QY15
----- -------------------------------- -----------------------------------------
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 Share options over
instrument, type of instrument ordinary shares
of 1.7 pence
----- -------------------------------- -----------------------------------------
(b) Identification code GB00BD8GP619
----- -------------------------------- -----------------------------------------
(c) Nature of the transaction Grant of options
over ordinary shares
----- -------------------------------- -----------------------------------------
(d) Price(s) and volume(s) Prices(s) Volume(s)
----------- ----------
7.5 pence 3,442,184
----------- ----------
----- -------------------------------- -----------------------------------------
(e) Aggregated information: Single transaction
- Aggregated volume as in 4(d) above Prices(s) Volume(s)
- Price ----------- ----------
7.5 pence 3,442,184
----------- ----------
----- -------------------------------- -----------------------------------------
(f) Date of transaction 22 March 2017
12:00 hrs UTC
----- -------------------------------- -----------------------------------------
(g) Place of transaction Outside a trading
venue
----- -------------------------------- -----------------------------------------
1. Details of the person discharging managerial
responsibilities/person closely associated
----- ---------------------------------------------------------------------------
(a) Full name of person Dealing John Leach
----- -------------------------------- -----------------------------------------
2. Reason for 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 of entity KEFI Minerals Plc
----- -------------------------------- -----------------------------------------
(b) LEI 213800OO6ETVDGE3QY15
----- -------------------------------- -----------------------------------------
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 Share options over
instrument, type of instrument ordinary shares
of 1.7 pence
----- -------------------------------- -----------------------------------------
(b) Identification code GB00BD8GP619
----- -------------------------------- -----------------------------------------
(c) Nature of the transaction Grant of options
over ordinary shares
----- -------------------------------- -----------------------------------------
(d) Price(s) and volume(s) Prices(s) Volume(s)
----------- ----------
7.5 pence 674,083
----------- ----------
----- -------------------------------- -----------------------------------------
(e) Aggregated information: Single transaction
- Aggregated volume as in 4(d) above Prices(s) Volume(s)
- Price ----------- ----------
7.5 pence 674,083
----------- ----------
----- -------------------------------- -----------------------------------------
(f) Date of transaction 22 March 2017
12:00 hrs UTC
----- -------------------------------- -----------------------------------------
(g) Place of transaction Outside a trading
venue
----- -------------------------------- -----------------------------------------
1. Details of the person discharging managerial
responsibilities/person closely associated
----- ---------------------------------------------------------------------------
(a) Full name of person Dealing Ian Plimer
----- -------------------------------- -----------------------------------------
2. Reason for 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 of entity KEFI Minerals Plc
----- -------------------------------- -----------------------------------------
(b) LEI 213800OO6ETVDGE3QY15
----- -------------------------------- -----------------------------------------
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 Share options over
instrument, type of instrument ordinary shares
of 1.7 pence
----- -------------------------------- -----------------------------------------
(b) Identification code GB00BD8GP619
----- -------------------------------- -----------------------------------------
(c) Nature of the transaction Grant of options
over ordinary shares
----- -------------------------------- -----------------------------------------
(d) Price(s) and volume(s) Prices(s) Volume(s)
----------- ----------
7.5 pence 441,176
----------- ----------
----- -------------------------------- -----------------------------------------
(e) Aggregated information: Single transaction
- Aggregated volume as in 4(d) above Prices(s) Volume(s)
- Price ----------- ----------
7.5 pence 441,176
----------- ----------
----- -------------------------------- -----------------------------------------
(f) Date of transaction 22 March 2017
12:00 hrs UTC
----- -------------------------------- -----------------------------------------
(g) Place of transaction Outside a trading
venue
----- -------------------------------- -----------------------------------------
1. Details of the person discharging managerial
responsibilities/person closely associated
---- ---------------------------------------------------------------------------
(a) Full name of person Dealing Mark Wellesley-Wood
---- -------------------------------- -----------------------------------------
2. Reason for 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 of entity KEFI Minerals Plc
---- -------------------------------- -----------------------------------------
(b) LEI 213800OO6ETVDGE3QY15
---- -------------------------------- -----------------------------------------
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 Share options over
instrument, type of instrument ordinary shares
of 1.7 pence
---- -------------------------------- -----------------------------------------
(b) Identification code GB00BD8GP619
---- -------------------------------- -----------------------------------------
(c) Nature of the transaction Grant of options
over ordinary shares
---- -------------------------------- -----------------------------------------
(d) Price(s) and volume(s) Prices(s) Volume(s)
----------- ----------
7.5 pence 882,353
----------- ----------
---- -------------------------------- -----------------------------------------
(e) Aggregated information: Single transaction
- Aggregated volume as in 4(d) above Prices(s) Volume(s)
- Price ----------- ----------
7.5 pence 882,353
----------- ----------
---- -------------------------------- -----------------------------------------
(f) Date of transaction 22 March 2017
12:00 hrs UTC
---- -------------------------------- -----------------------------------------
(g) Place of transaction Outside a trading
venue
---- -------------------------------- -----------------------------------------
1. Details of the person discharging managerial
responsibilities/person closely associated
----- ---------------------------------------------------------------------------
(a) Full name of person Dealing Wayne Nicoletto
----- -------------------------------- -----------------------------------------
2. Reason for notification
----- ---------------------------------------------------------------------------
(a) Position/status Chief Operating
Officer
----- -------------------------------- -----------------------------------------
(b) Initial notification/ Amendment Initial notification
----- -------------------------------- -----------------------------------------
3. Details of the issuer, emission allowance
market participant, auction platform, auctioneer
or auction monitor
----- ---------------------------------------------------------------------------
(a) Name of entity KEFI Minerals Plc
----- -------------------------------- -----------------------------------------
(b) LEI 213800OO6ETVDGE3QY15
----- -------------------------------- -----------------------------------------
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 Share options over
instrument, type of instrument ordinary shares
of 1.7 pence
----- -------------------------------- -----------------------------------------
(b) Identification code GB00BD8GP619
----- -------------------------------- -----------------------------------------
(c) Nature of the transaction Grant of options
over ordinary shares
----- -------------------------------- -----------------------------------------
(d) Price(s) and volume(s) Prices(s) Volume(s)
----------- ----------
7.5 pence 1,389,817
----------- ----------
----- -------------------------------- -----------------------------------------
(e) Aggregated information: Single transaction
- Aggregated volume as in 4(d) above Prices(s) Volume(s)
- Price ----------- ----------
7.5 pence 1,389,817
----------- ----------
----- -------------------------------- -----------------------------------------
(f) Date of transaction 22 March 2017
12:00 hrs UTC
----- -------------------------------- -----------------------------------------
(g) Place of transaction Outside a trading
venue
----- -------------------------------- -----------------------------------------
ENQUIRIES
KEFI Minerals plc
Harry Anagnostaras-Adams (Executive Chairman) +357 99457843
John Leach (Finance Director) +357 99208130
SP Angel Corporate Finance LLP (Nominated Adviser)
Ewan Leggat, Jeff Keating +44 20 3470 0470
Brandon Hill Capital Ltd (Joint Broker)
Oliver Stansfield, Alex Walker, Jonathan Evans +44 20 7936
5200
RFC Ambrian Ltd (Joint Broker)
Jonathan Williams +44 20 3440 6817
Beaufort Securities Ltd (Joint Broker)
Elliot Hance +44 20 7382 8300
Luther Pendragon Ltd (Financial PR)
Harry Chathli, Claire Norbury, Ana Ribeiro +44 20 7618 9100
This information is provided by RNS
The company news service from the London Stock Exchange
END
DSHEAADAADNXEFF
(END) Dow Jones Newswires
March 22, 2017 08:46 ET (12:46 GMT)
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