TIDMPRIM

RNS Number : 3484B

Primorus Investments PLC

09 January 2018

Primorus Investments plc

("Primorus" or the "Company")

Grant of Options

The Company announces that it has agreed to grant 75 million share options to Alastair Clayton (Executive Director) and 75 million share options to Jeremy Taylor-Firth (Non-Executive Chairman) ("New Options"). Each New Option will entitle the holder to subscribe for new ordinary shares of 0.01p each in the Company ("Shares") at an exercise price of 0.30 pence per Share (being a 67% premium to the mid closing price on 8 January of 0.18 pence per Share) and are exercisable at any time within 7 years from the date of grant.

Alastair Clayton currently holds 85 million Shares in the Company, which represent approximately 3.04% of the share capital of the Company. Following the issue of the New Options, he will hold 162 million share options with an exercise price of 0.30 pence per Share. Following the issue of the New Options, Jeremy Taylor-Firth (Chairman of the Company) will hold 87 million share options with an exercise price of 0.30 pence per Share.

Following the grant of the New Options there will be 346m options in issue over Shares in the Company, representing 12.4% of its issued ordinary share capital.

The grant of the New Options is considered to be a related party transaction under the AIM Rules for Companies. Donald Strang, having consulted with Cairn Financial Advisers LLP, the Company's nominated adviser, considers that the terms of the New Options are fair and reasonable as far as the Company's shareholders are concerned.

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

For further information, please contact:

 
Primorus Investments 
 plc:                      +44 (0) 20 7440 0640 
Alastair Clayton 
 
Nominated Adviser:         +44 (0) 20 7213 0880 
Cairn Financial Advisers 
 LLP 
James Caithie / Sandy 
 Jamieson 
 Broker: 
 Turner Pope Investments 
 Limited 
 Andy Thacker                +44 (0) 20 3621 4120

Transaction Notification

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them

 
 Notification of a Transaction pursuant to Article 
  19(1) of Regulation (EU) No. 596/2014 
-------------------------------------------------------------------------- 
 1      Details of the person discharging managerial 
         responsibilities/person closely associated 
-----  ------------------------------------------------------------------- 
 a.     Name                          Alastair Raoul Clayton 
                                     ------------------------------------- 
 2      Reason for 
         notification 
-----  ----------------------------  ------------------------------------- 
 a.     Position/Status               Executive Director 
-----  ----------------------------  ------------------------------------- 
 b.     Initial notification/         Initial 
         Amendment 
-----  ----------------------------  ------------------------------------- 
 3      Details of the issuer, emission allowance 
         market participant, auction platform, auctioneer 
         or auction monitor 
       ------------------------------------------------------------------- 
 a.     Name                          Primorus Investments PLC 
-----  ----------------------------  ------------------------------------- 
 b.     LEI                           213800XCLCY5I8O3PP36 
-----  ----------------------------  ------------------------------------- 
 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                   Ordinary Shares of 0.01p each 
         of the financial 
         instrument, 
         type of instrument 
 
         Identification 
         Code 
-----  ----------------------------  ------------------------------------- 
 b.     Nature of the                 Grant of Options to subscribe 
         transaction                   for ordinary shares 
-----  ----------------------------  ------------------------------------- 
 
 c.     Price(s) and                   Price(s)           Volume(s) 
         volume(s) 
-----  ----------------------------   -----------------  -------------- 
    0.003 GBP 
     per share 
     exercise 
     price                                                75,000,000 
   ----------------------------------------------------  -------------- 
 
 d.     Aggregated                    N/A 
         information 
         - Aggregated 
         Volume 
         - Price 
-----  ----------------------------  ------------------------------------- 
 e.     Date of the                   09/01/2018 
         transaction 
-----  ----------------------------  ------------------------------------- 
 f.     Place of the                  UK 
         transaction 
-----  ----------------------------  ------------------------------------- 
 Notification of a Transaction pursuant to Article 
  19(1) of Regulation (EU) No. 596/2014 
-------------------------------------------------------------------------- 
 1      Details of the person discharging managerial 
         responsibilities/person closely associated 
-----  ------------------------------------------------------------------- 
 a.     Name                          Jeremy David Taylor-Firth 
                                     ------------------------------------- 
 2      Reason for 
         notification 
-----  ----------------------------  ------------------------------------- 
 a.     Position/Status               Non-Executive Chairman 
-----  ----------------------------  ------------------------------------- 
 b.     Initial notification/         Initial 
         Amendment 
-----  ----------------------------  ------------------------------------- 
 3      Details of the issuer, emission allowance 
         market participant, auction platform, auctioneer 
         or auction monitor 
       ------------------------------------------------------------------- 
 a.     Name                          Primorus Investments PLC 
-----  ----------------------------  ------------------------------------- 
 b.     LEI                           213800XCLCY5I8O3PP36 
-----  ----------------------------  ------------------------------------- 
 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                   Ordinary Shares of 0.01p each 
         of the financial 
         instrument, 
         type of instrument 
 
         Identification 
         Code 
-----  ----------------------------  ------------------------------------- 
 b.     Nature of the                 Grant of Options to subscribe 
         transaction                   for ordinary shares 
-----  ----------------------------  ------------------------------------- 
 
 c.     Price(s) and                   Price(s)           Volume(s) 
         volume(s) 
-----  ----------------------------   -----------------  -------------- 
    0.003 GBP 
     per share 
     exercise 
     price                                                75,000,000 
   ----------------------------------------------------  -------------- 
 
 d.     Aggregated                    N/A 
         information 
         - Aggregated 
         Volume 
         - Price 
-----  ----------------------------  ------------------------------------- 
 e.     Date of the                   09/01/2018 
         transaction 
-----  ----------------------------  ------------------------------------- 
 f.     Place of the                  UK 
         transaction 
-----  ----------------------------  -------------------------------------

This information is provided by RNS

The company news service from the London Stock Exchange

END

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January 09, 2018 05:09 ET (10:09 GMT)

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