Last checked at 25 Nov 2022 15:08
25 November 2022
Caerus Mineral Resources PLC
('Caerus' or the 'Company')
Grant of Options
Caerus Mineral Resources PLC (LON:CMRS), the exploration and resource development company focused on developing mineral resources to support the global 'Clean Energy' initiative, announces the grant of options over a total of 4,400,000 ordinary shares of 1 pence each in the capital of the Company ("Ordinary Shares") with an exercise price of 7.5 pence per Ordinary Share ("Options").
The Options will vest in three instalments and will have an exercise period of five years. The first tranche will vest when the closing mid-market share price reaches 7.5 pence or above for three consecutive trading days. The second tranche will vest when the share price reaches 12.5 pence. The third tranche will vest when the share price reaches 17.5 pence.
The board approved the issuance of these share option grants to incentivise and retain the directors, who are considered key to enhancing the future market value of the Company and notes the premium of the exercise price relative to the current share price.
The option exercise price represents approximately a 36% premium to the closing share price on 24 November 2022.
The information set out below is provided in accordance with the requirements of Regulation 19(3) of the EU Market Abuse Regulation No 596/2014:
PDMR Notification
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 | 1. Christopher Lambert 2. Charles Oliver Long 3. Russell Thomson 4. Dominic Traynor | ||||||||||||||||
2 | Reason for the notification | |||||||||||||||||
a) | Position/status | 1. Executive Chairman 2. Chief Executive Officer 3. Non-Executive Director 4. 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 | Caerus Mineral Resources plc | ||||||||||||||||
b) | LEI | 8945007F59CSJFZGR252 | ||||||||||||||||
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 | Options of 7.5 pence each
ISIN: GB00BMDQ4L78 | ||||||||||||||||
b) | Nature of the transaction | Grant of Options of 7.5 pence each | ||||||||||||||||
c) | Price(s)and volume(s) |
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d) | Aggregated information
Aggregated volume
Price |
4,400,000
7.5 pence
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e) | Date of the transaction(s) | 25 November 2022 | ||||||||||||||||
f) | Place of the transaction | Off-market transaction | ||||||||||||||||