Last checked at 18 Dec 2020 07:00
18 December 2020
Europa Metals Ltd
("Europa Metals", the "Company" or the "Group") (AIM, AltX: EUZ)
Issue of Options and Directors' Dealings
Europa Metals, the European focused lead-zinc and silver developer, announces that, further to the approval of resolutions 2 to 5 at the Company's Annual General Meeting held on 30 November 2020, the Company has today granted, in aggregate, 1,380,000 options to the Company's Executive and Non-Executive Directors (the "Incentive Options"). The Incentive Options are exercisable at 8.89 pence per share for the Executive Directors and at 12.89 pence per share for the Non-Executive Directors, being the 10-day VWAP and a 45% premium to the 10-day VWAP, up to and including 17 December 2020, respectively.
In addition, 20,000 options, originally intended to be issued to Daniel Smith, pursuant to the passing of resolution 5, have instead been issued to a consultant of the Company, on the same terms as the Incentive Options granted to the Non-Executive Directors. Accordingly, Daniel Smith has been granted 80,000 Incentive Options as set out below.
Further details on the Incentive Options issued to the Executive Directors and the resultant total options held by each such director are set out below:
Executive Director | Previous holding of options | Number of Incentive Options granted (Tranche 1) | Number of Incentive Options granted (Tranche 2) | Number of Incentive Options granted (Tranche 3) | Resultant holding of options |
Laurence Read | 925,000 | 200,000 | 200,000 | 200,000 | 1,525,000 |
Myles Campion | 991,666 | 200,000 | 200,000 | 200,000 | 1,591,666 |
Details of the individual tranches are as follows:
a) Tranche 1: vests on the delineation, by an independent third party, of greater than a 4.5Mt Indicated Resource estimate at the Toral Project, reported in accordance with JORC (2012), exercisable at a price of 8.89 pence per share and expiring on or before 18 December 2023;
b) Tranche 2: vests on the delivery of a positive Pre-feasibility Study at the Toral Project with an independent recommendation for the Company to continue advancing the project, exercisable at a price of 8.89 pence per share and expiring on or before 18 December 2023; and
c) Tranche 3: vests on the submission of an application for a Mining Licence at the Toral Project, exercisable at a price of 8.89 pence per share and expiring on or before 18 December 2023.
Further details on the Incentive Options issued to the Non-Executive Directors and the resultant total options held by each such director are set out below:
Non-Executive Director | Previous holding of options | Number of Incentive Options granted | Exercise Price (being a 45% premium to the 10-day VWAP up to and including 17 December 2020) | Expiry Date | Resultant holding of options |
Evan Kirby | 245,000 | 100,000 | 12.89 pence | 18 December 2023 | 345,000 |
Daniel Smith | 100,000 | 80,000 | 12.89 pence | 18 December 2023 | 180,000 |
For further information on the Company, please visit www.europametals.com or contact:
Europa Metals Ltd
Dan Smith, Non-Executive Director and Company Secretary (Australia)
T: +61 417 978 955
Laurence Read, CEO (UK)
T: +44 (0)20 3289 9923
Linkedin: Europa Metals ltd
Twitter: @ltdeuropa
Vox: Europametals
Strand Hanson Limited (Nominated Adviser)
Rory Murphy/Matthew Chandler
T: +44 (0)20 7409 3494
Tavistock (PR and IR)
Emily Fenton, Barney Hayward, Oliver Lamb
T: +44 (0)20 7920 3150 / EuropaMetals@Tavistock.co.uk
Turner Pope Investments (TPI) Limited (Broker)
Andy Thacker
T: +44 (0)20 3657 0050
Sasfin Capital Proprietary Limited (a member of the Sasfin group)
Sharon OwensT (direct): +27 11 809 7762
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 ("MAR").
PDMR Notification Forms
The notifications below are made in accordance with the requirements of MAR.
1. | Details of the person discharging managerial responsibilities / person closely associated | |||||
a) | Name | Myles Campion
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2. | Reason for the Notification | |||||
a) | Position/status | Executive Chairman
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b) | Initial notification/amendment | Initial notification
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3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | Europa Metals Ltd
| ||||
b) | LEI | 2138008QU5PGK777XM59
| ||||
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 | Issue of options under the Company's Incentive Plan
| ||||
Identification code | AU0000090060
| |||||
b) | Nature of the Transaction | Issue of options
| ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information Aggregated volume price | 600,000 options N/A | ||||
e) | Date of the transaction | 18 December 2020 | ||||
f) | Place of the transaction | AIM (LSE) | ||||
1. | Details of the person discharging managerial responsibilities / person closely associated | |||||
a) | Name | Laurence Read
| ||||
2. | Reason for the Notification | |||||
a) | Position/status | CEO & 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 | Europa Metals Ltd
| ||||
b) | LEI | 2138008QU5PGK777XM59
| ||||
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 | Issue of options under the Company's Incentive Plan | ||||
Identification code | AU0000090060
| |||||
b) | Nature of the Transaction | Issue of options
| ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information Aggregated volume price | 600,000 options N/A | ||||
e) | Date of the transaction | 18 December 2020 | ||||
f) | Place of the transaction | AIM (LSE) | ||||
1. | Details of the person discharging managerial responsibilities / person closely associated | |||||
a) | Name | 1. Evan Kirby 2. Daniel Smith | ||||
2. | Reason for the Notification | |||||
a) | Position/status | 1. Non-Executive Director 2. 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 | Europa Metals Ltd
| ||||
b) | LEI | 2138008QU5PGK777XM59
| ||||
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 | Issue of options under the Company's Incentive Plan | ||||
Identification code | AU0000090060
| |||||
b) | Nature of the Transaction | Issue of options
| ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information Aggregated volume price | N/A | ||||
e) | Date of the transaction | 18 December 2020 | ||||
f) | Place of the transaction | AIM (LSE) | ||||