Last checked at 17 Aug 2017 12:48
17 August 2017
Kennedy Ventures plc
Grant of Share Options
Kennedy Ventures plc ("Kennedy Ventures" or "the Company"), the AIM quoted investment company, who through its stake in African Tantalum (Pty) Limited ("Aftan") has an interest in the Namibia Tantalite Investments mine (historically referred to as the Tantalite Valley Mine) in Namibia, announces that on 17 August 2017, the Board granted options ("Options") to Larry Johnson, over 10,000,000 new ordinary shares of 1p each ("Ordinary Shares"), exercisable at 6p per Ordinary Share. The Options represent 3.98 per cent of the current issued share capital.
The Options will vest over a three-year period, 3,300,000 in 2018 and 2019 and 3,400,000 in 2020 and are subject to certain performance related conditions.
There was no consideration paid upon the grant of the Options and the Options expire on the third anniversary of their vesting.
Director | Options Granted | Vesting Date | Expiry Date | Exercise Price (per Ordinary Share) |
Larry Johnson | 3,300,000 | 17 August 2018 | 17 August 2021 | 6p |
3,300,000 | 17 August 2019 | 17 August 2022 | 6p | |
3,400,000 | 17 August 2020 | 17 August 2023 | 6p | |
Total | 10,000,000 |
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The information communicated in this announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No. 596/2014.
For further information on the Company, visit: www.kvplc.com:
Kennedy Ventures plc |
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Larry Johnson (CEO), c/o Camarco | Tel: +44 (0)203 757 4983 | |
finnCap (Nominated Adviser and broker) Christopher Raggett / Scott Mathieson / Anthony Adams (corporate finance) Simon Johnson (corporate broking)
| Tel: +44 (0)20 7220 0500
| |
Shore Capital (Broker) Mark Percy / Toby Gibbs (corporate finance) Jerry Keen (corporate broking) | Tel: +44 (0) 207 408 4090 | |
Camarco (PR) Gordon Poole / Billy Clegg
| Tel: +44 (0) 203 757 4980 | |
The information contained within this announcement is considered to be inside information, for the purposes of Article 7 of EU Regulation 596/2014, prior to its release.
1. | Details of the person discharging managerial responsibilities / person closely associated | |||||
a) | Name | Larry Johnson | ||||
2. | Reason for the Notification | |||||
a) | Position/status | Chief Executive Officer | ||||
b) | Initial notification/Amendment | Initial notification | ||||
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | Kennedy Ventures plc | ||||
b) | LEI | n/a | ||||
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 | Ordinary shares of 1 pence | ||||
Identification code | GB00B830HW33 | |||||
b) | Nature of the transaction | Grant of options | ||||
c) | Price(s) and volume(s) |
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d) | Aggregated information: · Aggregated volume · Price |
10,000,000 options over ordinary shares of 1 pence each (granted) at 6 pence per ordinary share | ||||
e) | Date of the transaction | 17 August 2017 | ||||
f) | Place of the transaction | London Stock Exchange, AIM Market (XLON) | ||||