Primorus Investments PLC Grant of Share Options (7787Q)
March 02 2021 - 1:00AM
UK Regulatory
TIDMPRIM
RNS Number : 7787Q
Primorus Investments PLC
02 March 2021
Primorus Investments plc
("Primorus" or the "Company")
Grant of Share Options
Primorus (AIM: PRIM) announces the award of 12,000,000 share
options ("Share Options"). Each Share Option is exercisable over
one ordinary share of GBP0.002 in the capital of the Company (the
"Ordinary Shares"). The Share Options represent approximately 8.58
per cent. of the current issued share capital of the Company. On a
fully diluted basis, the Share Options represent approximately 7.9
per cent. of the enlarged issued share capital of the Company
(assuming the Share Options are exercised in full and no additional
Ordinary Shares are issued save for those in connection with such
exercise).
The Share Options are exercisable at a price of GBP0.041 per
Ordinary Share (being the mid-market closing price of the Ordinary
Shares on 1 March 2021). One-third of the Share Options shall vest
when the mid-market closing price of the Ordinary Shares ("Closing
Price") reaches GBP0.06; one-third of the Share Options shall vest
when the Closing Price reaches GBP0.08; and one-third of the Share
Options shall vest when the Closing Price reaches GBP0.10. The
Share Options are exercisable at any time, following vesting, prior
to (and including) the day falling on the fifth anniversary of
grant. If an option holder leaves the Company, such option holder
shall retain any vested Share Options but any unvested Share
Options shall lapse unless otherwise decided by the Board at its
absolute discretion.
The total options granted over Ordinary Shares to Persons
Discharging Managerial Responsibilities within the Company (each
being a "PDMR") are detailed below.
PDMR Options Exercise Price Lapse Date
Rupert Labrum 3,000,000 GBP0.041 1 March 2026
Hedley Clark 3,000,000 GBP0.041 1 March 2026
Matthew Beardmore 3,000,000 GBP0.041 1 March 2026
Simon Holden 3,000,000 GBP0.041 1 March 2026
The information contained within this announcement is deemed by
the Company to constitute inside information for the purposes of
Article 11 of The Market Abuse (Amendment) (EU Exit) Regulations
2019 (SI 2019/310). Upon publication of this announcement, this
inside information is now considered to be in the public
domain.
For further information, please contact:
Primorus Investments plc +44 (0) 20 8154 7907
Rupert Labrum
Nominated Adviser and Broker
Cairn Financial Advisers LLP +44 (0) 20 7213 0880
Sandy Jamieson / James Caithie
Notification and public disclosure of transactions by persons
discharging managerial responsibilities
and persons closely associated with them
1 Details of the persons discharging managerial responsibilities
/ person closely associated
a) Name Rupert Labrum
------------------------------ -------------------------------------------
2 Reason for the notification
---------------------------------------------------------------------------
a) Position/Status Executive Chairman
------------------------------ -------------------------------------------
b) Initial notification/ Initial notification
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 of
the financial
instrument, type Options over ordinary shares of GBP0.002
of each
instrument
GB00BKTCLJ25
Identification
code
------------------------------ -------------------------------------------
b) Nature of the transaction Grant of share options
------------------------------ -------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
Exercise price:
GBP0.041 3,000,000
----------
------------------------------ -------------------------------------------
d) Aggregated information
* Aggregated volume
3,000,000
GBP0.041
* Price
------------------------------ -------------------------------------------
e) Date of transaction 1 March 2021
------------------------------ -------------------------------------------
f) Place of transaction London Stock Exchange
------------------------------ -------------------------------------------
1 Details of the persons discharging managerial responsibilities
/ person closely associated
a) Name Hedley Clark
------------------------------ -------------------------------------------
2 Reason for the notification
---------------------------------------------------------------------------
a) Position/Status Non-Executive Director
------------------------------ -------------------------------------------
b) Initial notification/ Initial notification
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 of
the financial
instrument, type Options over ordinary shares of GBP0.002
of each
instrument
GB00BKTCLJ25
Identification
code
------------------------------ -------------------------------------------
b) Nature of the transaction Grant of share options
------------------------------ -------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
Exercise price:
GBP0.041 3,000,000
----------
------------------------------ -------------------------------------------
d) Aggregated information
* Aggregated volume
3,000,000
GBP0.041
* Price
------------------------------ -------------------------------------------
e) Date of transaction 1 March 2021
------------------------------ -------------------------------------------
f) Place of transaction London Stock Exchange
------------------------------ -------------------------------------------
1 Details of the persons discharging managerial responsibilities
/ person closely associated
a) Name Matthew Beardmore
------------------------------ -------------------------------------------
2 Reason for the notification
---------------------------------------------------------------------------
a) Position/Status Non-Executive Director
------------------------------ -------------------------------------------
b) Initial notification/ Initial notification
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 of
the financial
instrument, type Options over ordinary shares of GBP0.002
of each
instrument
GB00BKTCLJ25
Identification
code
------------------------------ -------------------------------------------
b) Nature of the transaction Grant of share options
------------------------------ -------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
Exercise price:
GBP0.041 3,000,000
----------
------------------------------ -------------------------------------------
d) Aggregated information
* Aggregated volume
3,000,000
GBP0.041
* Price
------------------------------ -------------------------------------------
e) Date of transaction 1 March 2021
------------------------------ -------------------------------------------
f) Place of transaction London Stock Exchange
------------------------------ -------------------------------------------
1 Details of the persons discharging managerial responsibilities
/ person closely associated
a) Name Simon Holden
------------------------------ -------------------------------------------
2 Reason for the notification
---------------------------------------------------------------------------
a) Position/Status Company Secretary
------------------------------ -------------------------------------------
b) Initial notification/ Initial notification
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 of
the financial
instrument, type Options over ordinary shares of GBP0.002
of each
instrument
GB00BKTCLJ25
Identification
code
------------------------------ -------------------------------------------
b) Nature of the transaction Grant of share options
------------------------------ -------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
Exercise price:
GBP0.041 3,000,000
----------
------------------------------ -------------------------------------------
d) Aggregated information
* Aggregated volume
3,000,000
GBP0.041
* Price
------------------------------ -------------------------------------------
e) Date of transaction 1 March 2021
------------------------------ -------------------------------------------
f) Place of transaction London Stock Exchange
------------------------------ -------------------------------------------
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END
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