TIDMXTR
RNS Number : 5132Q
Xtract Resources plc
19 February 2019
For immediate release
19 February 2019
Xtract Resources Plc
("Xtract" or the "Company")
Award of Share Options
Director / PDMR Shareholding
Award of Share Options
The Board of Xtract announces that on 19 February 2019, the
Board agreed to award in aggregate 23,300,000 new options over
ordinary shares ("New Options"). 15,000,000 New Options
(representing 4.28 per cent. of the current issued share capital)
have been awarded to Directors (other than Peter Moir,
Non-executive Director and Chairman of the Remuneration Committee)
and a further 8,300,000 New Options (representing 2.67 per cent. of
the current issued share capital) have been awarded to employees
and officers of the Company.
The New Options vest in three equal tranches, with one-third
vesting and being exercisable immediately on award, one-third
vesting when the Company's closing mid-market share price ("Closing
Price") is 1.25p and the remainder vesting on the Closing Price
reaching 2p. The New Options will lapse five years after the date
of the award, being 19 February 2024.
The New Options have an exercise price of 1p per share for the
first-vested tranche ("First Tranche"), 1.25p per share for the
second-vested tranche and 2p for the third-vested tranche. The
exercise price of the First Tranche represents a 17.65 per cent
premium to the Closing Price as at 18 February 2019 of 0.85 pence
and a 6.31 per cent premium to the 30-day VWAP of 0.94 pence on 18
February 2019. Further details of the New Options awards are as
follows:
Number of
Individual New Options
----------------- ------------
Directors:
Colin Bird 10,000,000
Joel Silberstein 5,000,000
Other PDMR(s):
Eduard Victor 6,000,000
Employees:
Other 2,300,000
Total 23,300,000
------------
Issue of equity and Director / PDMR shareholding
On 28 December 2017, the Company announced that it had agreed to
issue 4,614,035 new Shares to Colin Bird in settlement of accrued
but unpaid fees (which amounted at that time to GBP131,500) at an
issue price of 2.85p per share ("Settlement Shares"), conditional
on approval by shareholders of an increase in the Company's general
share authorities at the next general meeting of the Company, which
was duly approved on 25 June 2018. As the Company is no longer in a
close period, the Board has completed the issue of the Settlement
Shares today on the terms as previously announced.
The Settlement Shares will rank pari passu in all respects with
the Company's existing issued ordinary shares and application will
be made for admission of the Settlement Shares to trading on AIM
("Admission"), which is expected to occur on or about 26 February
2019. Following the issue of the Settlement Shares, Colin Bird's
interest in Xtract is as follows:
Director Issue price Settlement Total Shareholding % Shareholding
of Settlement Shares issued following in the enlarged
Shares the issue issued share
of the Settlement capital
Shares
------------ --------------- --------------- ------------------- -----------------
Colin Bird 2.85p 4,614,035 7,032,266 1.98%
------------ --------------- --------------- ------------------- -----------------
Total Voting Rights
In conformity with the Disclosure and Transparency Rules of the
Financial Conduct Authority ("FCA"), the Company announces the
following:
As at the date of this announcement the Company's issued share
capital consists of 355,174,719 ordinary shares of 0.02p each with
voting rights ("Ordinary Shares"). The Company does not hold any
Ordinary Shares in Treasury. Therefore, the total number of
Ordinary Shares in the Company with voting rights is
355,174,719.
The above figure of 355,174,719 may be used by shareholders as
the denominator for the calculations by which they will determine
if they are required to notify their interest in, or a change to
their interest in the Company under the FCA's Disclosure and
Transparency Rules.
A copy of this announcement: www.xtractresources.com
Enquiries:
Xtract Resources Plc Colin Bird, +44 (0)20 3416 6471
Executive Chairman www.xtractresources.com
Beaumont Cornish Limited Roland Cornish +44 (0)207628 3369
Nominated Adviser and Michael Cornish www.beaumontcornish.co.uk
Joint Broker Felicity Geidt
Novum Securities Limited Colin Rowbury +44 (0)207 399 9427
Joint Broker www.novumsecurities.com
The following disclosure is made in accordance with Article 19
of the EU Market Abuse Regulation 596/2014.
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name 1. Colin Bird
2. Joel Siberstein
3. Eduard Victor
-------------------------- --------------------------------------------------------------------------
2 Reason for the notification
------------------------------------------------------------------------------------------------------
a) Position/status 1. Chairman
2. Finance Director
3. Chief Operating Officer (Non-Board)
-------------------------- --------------------------------------------------------------------------
b) Initial notification Initial Notification
/Amendment
-------------------------- --------------------------------------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
------------------------------------------------------------------------------------------------------
a) Name Xtract Resources plc
-------------------------- --------------------------------------------------------------------------
b) LEI 213800A71LZ79EKUNC34
-------------------------- --------------------------------------------------------------------------
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 Options over Ordinary Shares of 0.02p each
financial instrument, ("Ordinary Shares")
type of instrument
Identification code ISIN: GB00BYSX2795
b) Nature of the transaction Issue of Options over Ordinary Shares
-------------------------- --------------------------------------------------------------------------
c) Price(s) and volume(s) Director Price payable on exercise of option Volume(s)
----------------- -------------------------------------- ---------
Colin Bird p 1.00 5,000,000
Colin Bird p 1.25 3,000,000
Colin Bird p 2.00 2,000,000
Joel Silberstein p 1.00 2,500,000
Joel Silberstein p 1.25 1,500,000
Joel Silberstein p 2.00 1,000,000
Eduard Victor p 1.00 3,000,000
Eduard Victor p 1.25 1,800,000
Eduard Victor p 2.00 1,200,000
----------------------------------------------------------------------
d) Aggregated information
- Aggregated volume 23,300,000 options over Ordinary Shares
- Price 1/3 exercisable at 1p
1/3 exercisable at 1.25p;
1/3 exercisable at 2p
e) Date of the transaction 19 February 2019
-------------------------- --------------------------------------------------------------------------
f) Place of the transaction Outside a trading venue
-------------------------- --------------------------------------------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Colin Bird
----------------------------- -------------------------------------------
2 Reason for the notification
--------------------------------------------------------------------------
a) Position/status Chairman
----------------------------- -------------------------------------------
b) Initial notification Initial Notification
/Amendment
----------------------------- -------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
--------------------------------------------------------------------------
a) Name Xtract Resources plc
----------------------------- -------------------------------------------
b) LEI 213800A71LZ79EKUNC34
----------------------------- -------------------------------------------
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 Ordinary Shares of 0.02p each ("Ordinary
financial instrument, Shares")
type of instrument
Identification code ISIN: GB00BYSX2795
b) Nature of the transaction Issue of Ordinary Shares
----------------------------- -------------------------------------------
c) Price(s) and volume(s) 4,614,035 Ordinary Shares at 2.85p
-----------------------------------------
d) Aggregated information
- Aggregated volume 4,614,035 Ordinary Shares
- Price 2.85p
e) Date of the transaction 19 February 2019
----------------------------- -------------------------------------------
f) Place of the transaction Outside a trading venue
----------------------------- -------------------------------------------
ENDS
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END
DSHBSGDDBGBBGCC
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