26 Jan 2018 11:12
26 January 2018
Bellzone Mining plc
Share Awards
Bellzone Mining plc ("Bellzone" or the "Company") (AIM: BZM) announces that share awards were made on 23 January 2018 from existing issued shares held by the Company in Treasury. The Company's Remuneration Committee in its annual review decided the share awards to be the most appropriate means to recognise the dedication and performance of senior managers throughout a difficult period, given the cancellation of previous employee stock option schemes, as well as to better align employee incentives and shareholder interests.
Bellzone presently holds 32,657,970 fully paid Ordinary Shares of no par value ("Ordinary Shares") in Treasury. On 23 January 2018, Bellzone granted share awards to certain employees over 17,289,600 of these Ordinary Shares, the awards being assessed by the Remuneration Committee at a nominal price of 1.25p per share and zero cost to the recipients.
These awards have been accepted by the employees and are therefore subject only to the recipients remaining employed by the Company. The awards will vest in two equal tranches on 23 April 2018 and 23 July 2018.
Included in the employees, the below PDMRs (Persons Discharging Managerial Responsibilities) received awards:
Name | Title | Number of Ordinary Shares granted | Total number of Ordinary Shares held after vesting |
Julian Cheong | CEO and CFO | 8,401,320 | 8,401,320 |
Simon Edwards | Head of Corporate Development | 3,927,000 | 4,376,499 |
The 17,289,600 Ordinary Shares being awarded from Treasury represent 1.08 per cent. of the total issued share capital of the Company which will be unchanged at 1,597,858,383 Ordinary Shares.
The current total voting rights in the Company ("TVR"), also unchanged by this announcement, are 1,565,200,413 and this figure may be used by shareholders as the denominator for the calculations by which they determine if they are required to notify their interest in, or a change in their interest in, the Company under the Disclosure and Transparency Rules of the UK Financial Conduct Authority. The TVR will increase in April and July 2018 when awards vest and the resulting TVR will be announced with each vesting.
Enquiries:
Bellzone Mining plc |
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Simon Edwards | +44 (0) 7767 492 712 simon.edwards@bellzone.com |
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WH Ireland Limited |
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Nominated Advisor & Joint Broker |
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James Joyce / Jessica Cave
| +44 (0) 20 7220 1666 |
SVS Securities plc |
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Joint Broker Tom Curran
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+44 (0) 20 3700 0100 |
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them:
DIRECTOR/PDMR SHAREHOLDING
1 | Details of the person discharging managerial responsibilities/person closely associated | |||||
a) | Name | Julian Cheong | ||||
2 | Reason for the notification | |||||
a) | Position/status | CEO and CFO | ||||
b) | Initial notification/ Amendment | Initial Notification | ||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | Bellzone Mining plc | ||||
b) | LEI | 213800X7MWNMIC3IUM94 | ||||
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
JE00B3N0SJ29 | ||||
b) | Nature of the transaction | Grant of share awards | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information - Aggregated volume - Price |
N/A - single transaction | ||||
e) | Date of the transaction | 24 January 2018 | ||||
f) | Place of the transaction | London | ||||
1 | Details of the person discharging managerial responsibilities/person closely associated | |||||
a) | Name | Simon Edwards | ||||
2 | Reason for the notification | |||||
a) | Position/status | Head of Corporate Development | ||||
b) | Initial notification/ Amendment | Initial Notification | ||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | Bellzone Mining plc | ||||
b) | LEI | 213800X7MWNMIC3IUM94 | ||||
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
JE00B3N0SJ29 | ||||
b) | Nature of the transaction | Grant of share awards | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information - Aggregated volume - Price | N/A - single transaction | ||||
e) | Date of the transaction | 24 January 2018 | ||||
f) | Place of the transaction | London | ||||