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Pin to quick picksKefi Gold Regulatory News (KEFI)

Share Price Information for Kefi Gold (KEFI)

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Grant of Share Options

22 Mar 2017 12:46

RNS Number : 2171A
KEFI Minerals plc
22 March 2017
 

22 March 2017

KEFI Minerals plc

("KEFI" or the "Company")

GRANT OF SHARE OPTIONS

KEFI Minerals, the AIM-quoted gold and copper exploration and development company with projects in the Kingdom of Saudi Arabia and the Democratic Republic of Ethiopia, announces that, in accordance with the share option scheme of the Company (the "Scheme"), the Directors have today approved the recommendation of the Remuneration and Nominations Committee to make a grant of share options over 9,535,122 new ordinary shares of 1.7p of the Company ("Ordinary Shares") to Certain Directors and senior managers (the "Options"). Following the grant of the Options, there will be options outstanding under the Scheme and pursuant to earlier arrangements over 6.4% of the issued Ordinary Share capital as compared with the Scheme limit of 10%.

The Options have an exercise price of 7.5 pence per Ordinary Share, representing a c. 67% premium to the closing market price Ordinary Shares on 20 March 2017 and 33% above the placing price of shares issued in the recent fundraising which completed on 2 March 2017. The Options expire after 6 years and, in normal circumstances, vest in two equal instalments, the first upon the achievement of practical completion of the planned processing plant at the Tulu Kapi Gold Project and the second upon the achievement of nameplate capacity for a twelve month period.

The Scheme is designed to align the interest of senior employees with those of shareholders and promote the retention of the Company's senior management team.

Details of the Options granted to the following persons who discharge managerial responsibilities ("PDMRs") today are set out below:

 

 

Name

 

Title

 

Number of new Options granted

Number of Ordinary Shares subject to Option following the grant of new Options

 

Harry Anagnostaras-Adams

Executive Chairman

3,442,184

5,326,773

 

John Leach

Finance Director

674,083

2,150,318

 

Ian Plimer

Non-executive Director

441,176

1,221,353

 

Mark Wellesley-Wood

Non-executive Deputy Chairman

882,353

1,470,588

 

Wayne Nicoletto

Chief Operating Officer

1,389,817

2,911,660

 

 

 

6,829,613

 

13,080,692

A further 2,705,509 Options have today been granted to members of the Company's senior management team.

Following the above grant, there are a total of 21,262,475 incentive share options granted over unissued Ordinary Shares, representing 6.4% of the Company's current issued Ordinary Share capital of 332,702,973 Ordinary Shares. The Scheme maximum is 10%.

Harry Anagnostaras-Adams, John Leach, Ian Plimer and Mark Wellesley-Wood are all directors of the Company and are therefore regarded as related parties as defined by the AIM Rules for Companies (the "AIM Rules"). The grant of Options as described above is therefore a related party transaction for the purposes of Rule 13 of the AIM Rules. Mr Norman Ling, being the only independent director, considers, having consulted with the Company's Nominated Adviser, SP Angel Corporate Finance LLP, that the terms of the related party transaction is fair and reasonable insofar as the shareholders of the Company are concerned.

Further details concerning the grant of share options to PDMRs are set out below:

 

1.

Details of the person discharging managerial responsibilities/person closely associated

(a)

Full name of person Dealing

Harry Anagnostaras-Adams

2.

Reason for notification

(a)

Position/status

Executive Chairman

(b)

Initial notification/ Amendment

Initial notification

3.

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

(a)

Name of entity

KEFI Minerals Plc

(b)

LEI

213800OO6ETVDGE3QY15

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

Share options over ordinary shares of 1.7 pence

(b)

Identification code

GB00BD8GP619

(c)

Nature of the transaction

Grant of options over ordinary shares

(d)

Price(s) and volume(s)

Prices(s)

Volume(s)

7.5 pence

3,442,184

(e)

Aggregated information:

- Aggregated volume

- Price

Single transaction as in 4(d) above

Prices(s)

Volume(s)

7.5 pence

3,442,184

(f)

Date of transaction

22 March 2017

12:00 hrs UTC

(g)

Place of transaction

Outside a trading venue

 

 

1.

Details of the person discharging managerial responsibilities/person closely associated

(a)

Full name of person Dealing

John Leach

2.

Reason for notification

(a)

Position/status

Finance Director

(b)

Initial notification/ Amendment

Initial notification

3.

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

(a)

Name of entity

KEFI Minerals Plc

(b)

LEI

213800OO6ETVDGE3QY15

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

Share options over ordinary shares of 1.7 pence

(b)

Identification code

GB00BD8GP619

(c)

Nature of the transaction

Grant of options over ordinary shares

(d)

Price(s) and volume(s)

Prices(s)

Volume(s)

7.5 pence

674,083

(e)

Aggregated information:

- Aggregated volume

- Price

Single transaction as in 4(d) above

Prices(s)

Volume(s)

7.5 pence

674,083

(f)

Date of transaction

22 March 2017

12:00 hrs UTC

(g)

Place of transaction

Outside a trading venue

 

 

1.

Details of the person discharging managerial responsibilities/person closely associated

(a)

Full name of person Dealing

Ian Plimer

2.

Reason for 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 of entity

KEFI Minerals Plc

(b)

LEI

213800OO6ETVDGE3QY15

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

Share options over ordinary shares of 1.7 pence

(b)

Identification code

GB00BD8GP619

(c)

Nature of the transaction

Grant of options over ordinary shares

(d)

Price(s) and volume(s)

Prices(s)

Volume(s)

7.5 pence

441,176

(e)

Aggregated information:

- Aggregated volume

- Price

Single transaction as in 4(d) above

Prices(s)

Volume(s)

7.5 pence

441,176

(f)

Date of transaction

22 March 2017

12:00 hrs UTC

(g)

Place of transaction

Outside a trading venue

 

1.

Details of the person discharging managerial responsibilities/person closely associated

(a)

Full name of person Dealing

Mark Wellesley-Wood

2.

Reason for 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 of entity

KEFI Minerals Plc

(b)

LEI

213800OO6ETVDGE3QY15

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

Share options over ordinary shares of 1.7 pence

(b)

Identification code

GB00BD8GP619

(c)

Nature of the transaction

Grant of options over ordinary shares

(d)

Price(s) and volume(s)

Prices(s)

Volume(s)

7.5 pence

882,353

(e)

Aggregated information:

- Aggregated volume

- Price

 

Single transaction as in 4(d) above

Prices(s)

Volume(s)

7.5 pence

882,353

(f)

Date of transaction

22 March 2017

12:00 hrs UTC

(g)

Place of transaction

Outside a trading venue

 

1.

Details of the person discharging managerial responsibilities/person closely associated

(a)

Full name of person Dealing

Wayne Nicoletto

2.

Reason for notification

(a)

Position/status

Chief Operating Officer

(b)

Initial notification/ Amendment

Initial notification

3.

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

(a)

Name of entity

KEFI Minerals Plc

(b)

LEI

213800OO6ETVDGE3QY15

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

Share options over ordinary shares of 1.7 pence

(b)

Identification code

GB00BD8GP619

(c)

Nature of the transaction

Grant of options over ordinary shares

(d)

Price(s) and volume(s)

Prices(s)

Volume(s)

7.5 pence

1,389,817

(e)

Aggregated information:

- Aggregated volume

- Price

 

Single transaction as in 4(d) above

Prices(s)

Volume(s)

7.5 pence

1,389,817

(f)

Date of transaction

22 March 2017

12:00 hrs UTC

(g)

Place of transaction

Outside a trading venue

 

ENQUIRIES

KEFI Minerals plc

Harry Anagnostaras-Adams (Executive Chairman) +357 99457843

John Leach (Finance Director) +357 99208130

 

SP Angel Corporate Finance LLP (Nominated Adviser)

Ewan Leggat, Jeff Keating +44 20 3470 0470

 

Brandon Hill Capital Ltd (Joint Broker)

Oliver Stansfield, Alex Walker, Jonathan Evans +44 20 7936 5200

 

RFC Ambrian Ltd (Joint Broker)

Jonathan Williams +44 20 3440 6817

 

Beaufort Securities Ltd (Joint Broker)

Elliot Hance +44 20 7382 8300

 

Luther Pendragon Ltd (Financial PR)

Harry Chathli, Claire Norbury, Ana Ribeiro +44 20 7618 9100

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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