Last checked at 15 Mar 2022 07:00
Oriole Resources PLC
('Oriole Resources' or 'the Company' or 'the Group')
Issue of Share Options
Oriole Resources, the AIM-quoted exploration company operating in Africa and Europe, announces that the Company's remuneration committee, has granted options to the Company's Executive Director Exploration and Business Development, Claire Bay, and to Abdoul Mbodji, the Company's Exploration Manager for Cameroon, in recognition of the successful exploration programmes in Cameroon.
Further Details
Options over 6,700,000 Ordinary Shares in the Company ('the Options') have been granted with an exercise price of 0.32 pence, equal to the 14-day Volume Weighted Average Share Price as at close on 14 March 2022. The Options are not subject to performance conditions, will vest over a three-year period and will expire after 10 years. In aggregate this award of Options is equivalent to 0.34% of the current issued share capital of the Company.
Following the awards, the Company has 88,292,912 options and 208,385,020 warrants in issue, representing 4.4% and 10.5% of the issued Ordinary Share Capital respectively.
Following the award of these options, the interest in the Ordinary Share Capital of the Company held by Claire Bay is as follows:
| New options issued | Total unexercised options held following issue | Shares held |
Claire Bay | 3,200,000 | 10,030,000 | 765,392 |
Options were also issued to Abdoul Mbodji, the Company's Exploration Manager for Cameroon.
Further details on the grant are included in the notification below, made in accordance with the requirements of Article 5(1)(b) of the Market Abuse Regulation (EU) No 596/2014 which is part of UK law by virtue of the European Union (Withdrawal) Act 2018.
** ENDS **
For further information please visit www.orioleresources.com, @OrioleResources on Twitter, or contact:
Oriole Resources PLC Bob Smeeton / Tim Livesey / Claire Bay
| Tel: +44 (0)20 7830 9650 |
BlytheRay (IR/PR contact) Tim Blythe / Megan Ray / Rachael Brooks
| Tel: +44 (0)20 7138 3204 |
Grant Thornton UK LLP Samantha Harrison / George Grainger / Ciara Donnelly
| Tel: +44 (0)20 7383 5100 |
Shard Capital Partners LLP Damon Heath / Erik Woolgar / Isabella Pierre
| Tel: +44 (0)20 186 9900 |
Notes to Editors:
Oriole Resources PLC is an AIM-listed exploration company, operating West Africa. It is focused on early-stage exploration in Cameroon (Bibemi and Wapouzé projects) and the more advanced Senala gold project in Senegal, where IAMGOLD has the option to spend US$8 million to earn a 70% interest. Year two commitments have been met at all three projects. The Company has several interests and royalties in companies operating throughout Africa and Turkey that could deliver future cash flow, and it continues to assess new opportunities in both regions.
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
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a)
| Name
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Claire Bay | |||
2
| Reason for the notification
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a)
| Position/status
| Executive Director Exploration and Business Development | |||
b)
| Initial notification /Amendment
| Initial notification | |||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| ||||
a)
| Name
| Oriole Resources PLC | |||
b)
| LEI
| 213800X32GJR5AGAR511 | |||
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
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a)
| Description of the financial instrument, type of instrument | Options over ordinary shares of 0.1 pence each in the capital of the Company
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Identification code | Ordinary share ISIN: GB00B0T29327 | ||||
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b)
| Nature of the transaction
| Grant of options over ordinary shares in the capital of the Company under the Company's EMI option scheme with an exercise price of 0.32p each | |||
c)
| Price(s) and volume(s) |
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| Price(s) | Volume(s) |
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| 0 | 3,200,000 |
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d)
| Aggregated information |
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- Aggregated volume | n/a | ||||
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- Price |
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e)
| Date of the transaction
| 14 March 2022 | |||
f)
| Place of the transaction
| Outside a trading venue | |||