Last checked at 15 Dec 2020 16:32
15 December 2020
Arc Minerals Ltd
('Arc Minerals' or the 'Company')
Grant of Options
Arc Minerals Limited announces the grant of options to Caleb Mulenga, Non-Executive Director of the Company, over 2,000,000 new ordinary shares of no par value ("Ordinary Shares") of the Company ("Share Options") with an exercise price of 4.5 pence per Ordinary Share, which represents an approximate 14% premium over the closing mid-market price of 3.95p on 14 December 2020. The Share Options are exercisable immediately and will expire on 15 December 2023.
Following this grant, the Share Options granted to Directors are as follows:
Director | Total Options currently outstanding |
Nicholas von Schirnding | 29,620,195 |
Rémy Welschinger | 15,580,000 |
Brian McMaster | 4,375,000 |
Caleb Mulenga | 2,000,000 |
| 51,575,195 |
Details of the Share Options granted to Senior Management are as follows:
PDMR | Total Options currently outstanding |
Vassilios Carellas | 22,738,849 |
Ian Lynch | 3,973,334 |
| 26,712,183 |
Following the grant of the Share Options there will be a total of 95,026,115 share options over unissued Ordinary Shares granted to directors, senior management and consultants of the Company, representing approximately 9.69% of the Company's current issued Ordinary Share capital of 980,703,507 Ordinary Shares.
Further details concerning the grant of Share Options to PDMRs are set out below.
Market Abuse Regulation (MAR) Disclosure
Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.
NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM:
1. | Details of the person discharging managerial responsibilities/person closely associated | ||||||||||
a) | Name: | Caleb Mulenga | |||||||||
2. | Reason for the 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: | Arc Minerals Limited | |||||||||
b) | LEI: | 213800XHFJVCC9GP2G75 | |||||||||
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 of instrument:
Identification code:
| Ordinary shares of no par value
VGG045791016 | |||||||||
b) | Nature of the transaction: | Grant of options over ordinary shares | |||||||||
c) | Price(s) and volume(s): |
| |||||||||
d) | Aggregated information: Aggregated volume: Price: | Single transactions as in 4 c) above
| |||||||||
e) | Date of the transaction: | 2020-12-15 | |||||||||
f) | Place of the transaction: | Outside a trading venue | |||||||||
**ENDS**
Contacts
Arc Minerals Ltd Nick von Schirnding (Chairman)
| +44 (0) 20 7917 2942
|
SP Angel (Nominated Adviser & Broker) Ewan Leggat / Adam Cowl
| +44 (0) 20 3470 0470
|
Notes to the Editors
Arc Minerals is a dynamic AIM listed exploration and mine development company focused on the discovery and development of large-scale copper and copper cobalt deposits in the Western part of the Zambian Copperbelt.
Arc Minerals current holdings include:
● A 66% equity interest in Zamsort Limited ("Zamsort"), a private company focused on a prospective copper licence in the Zambia Copperbelt.
● A 72.5% equity interest in Zaco Investments Limited ("Zaco"), a private company focused on a prospective copper and cobalt licence adjacent to Zamsort.
For more information visit www.arcminerals.com