Last checked at 29 Jul 2019 07:00
29 July 2019
Iofina plc
("Iofina", the "Group", or the "Company")
(LSE AIM: IOF)
Grant of Share Options
Iofina plc, specialists in the exploration and production of iodine and manufacturers of specialty chemical products, announces that it granted to certain Persons Discharging Managerial Responsibilities within the Company ("PDMRs") on 25 July 2019 a total of 984,500 share option awards (the "July 2019 Options"). Each July 2019 Option is exercisable over one ordinary share of £0.01 each in the capital of the Company ("Ordinary Shares") and is subject to the rules of the Company's 2018 Stock Option Plan (the "2018 Option Plan"). As at today's date, the July 2019 Options represent approximately 0.51 per cent. of the current issued share capital of the Company.
The July 2019 Options will be exercisable at a price of £0.2130 per Ordinary Share (being the closing price on 24 July 2019), with 50 per cent. of the options vesting one year from the date of grant and the remaining 50 per cent. vesting two years from the date of grant (the "Vesting Conditions"). The July 2019 Options are exercisable at any time, following vesting, prior to (and including) the day falling on the tenth anniversary of grant. In the event that any PDMR, being an option holder, leaves the Company, they will have a period of 90 days within which to exercise any vested options failing which they will lapse (the "90 Days Condition").
The grant of options under the 2018 Option Plan is part of the Company's long-term incentive arrangements designed to align the interests of the shareholders and certain executives.
In accordance with the requirements of the EU Market Abuse Regulation the July 2019 Options have been granted to PDMRs under the 2018 Option Plan.
The total options granted over Ordinary Shares granted are detailed below.
2018 Plan Options Issued 25 July 2019
Exercise | |||
Options | Price | Lapse Date | |
J Frank Mermoud | 82,500 | £0.2130 | 25-July-29 |
Malcolm Lewin | 165,000 | £0.2130 | 25-July-29 |
Lance Baller | 165,000 | £0.2130 | 25-July-29 |
Bill Bellamy | 82,500 | £0.2130 | 25-July-29 |
Tom Becker | 242,000 | £0.2130 | 25-July-29 |
Forest Dorn | 82,500 | £0.2130 | 25-July-29 |
Kurt Jones | 82,500 | £0.2130 | 25-July-29 |
Scott Formolo | 82,500 | £0.2130 | 25-July-29 |
Enquiries:
Dr. Tom Becker
CEO & President
Iofina plc
Tel: +44 (0)20 3006 3135
Christopher Raggett/Giles Rolls/Matthew Radley (corporate finance)
Camille Gochez (ECM)
finnCap Ltd
Tel: +44 (0)20 7220 0500
Media Contact:
Charles Goodwin/Harriet Jackson
Yellow Jersey PR Limited
Tel: +44 (0)7544 275 882
About Iofina:
Iofina plc (AIM: IOF) is a vertically integrated Company that specialises in the production of Iodine and the manufacturing of specialty chemical products. As the second largest producer of iodine in North America, it comprises three entities; Iofina Resources, Iofina Chemical and IofinaEX.
LEI: 213800QDMFYVRJYYTQ84
ISIN: GB00B2QL5C79
Iofina Resources
Iofina Resources develops, builds, owns and operates iodine extraction plants using Iofina's WET® IOsorb® technology. Iofina currently operates four producing IOsorb® plants in Oklahoma, and is consistently using technology and innovation to improve and expand its operations.
Iofina Chemical
Iofina Chemical has manufactured high quality halogen speciality chemicals derived from raw iodine, as well as non-iodine based products for over 35 years.
IofinaEX
Iofina's newest subsidiary, IofinaEX, is now fully licensed to process hemp in the state of Kentucky and the Directors are committed to exploring the isolation of specialty chemical products from hemp, a rapidly expanding market.
www.iofina.com