8 Oct 2020 09:55
Path Investments plc
("Path" or the "Company")
Option Surrender and Issue of Replacement Options
Path Investments plc (TIDM: PATH), the energy and natural resources investment company, announces that Christopher Theis, Chief Executive Officer and Andrew Yeo, formerly Chief Operating Officer, of Path, have today surrendered the following options in the Company, granted to them on 30 March 2017:
Number of ordinary shares subject to option | Exercise price | Expiry date | |
Christopher Theis | 20,000,000 | £0.001 | 30 March 2027 |
Christopher Theis | 16,000,000 | £0.01 | 30 March 2027 |
Christopher Theis | 6,500,000 | £0.02 | 30 March 2027 |
Andrew Yeo | 8,500,000 | £0.001 | 30 March 2027 |
Andrew Yeo | 6,500,000 | £0.01 | 30 March 2027 |
Andrew Yeo | 2,875,000 | £0.02 | 30 March 2027 |
The following options to acquire ordinary shares in Path have today been issued to Christopher Theis and Andrew Yeo:
Number of ordinary shares subject to option | Exercise price | Expiry date | |
Christopher Theis | 42,500,000 | £0.001 | 8 October 2030 |
Andrew Yeo | 17,875,000 | £0.001 | 8 October 2030 |
This surrender and reissue of an equivalent amount of options marks the first action in a series of events that the directors have planned, to streamline the company's capital structure ahead of the proposed readmission and acquisition of DTU.
Further details on the lapse and grant to Christopher Theis are included in the notifications below, made in accordance with the requirements of the EU Market Abuse Regulation.
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014
For further information please contact:
Path Investments plc | C/O IFC |
Christopher Theis | |
IFC Advisory Limited (Financial PR & IR) | 020 3934 6630 |
Tim Metcalfe | |
Zach Cohen | |
Grant Thornton UK LLP (Financial Adviser) | |
Samantha Harrison | 020 7865 2411 |
Harrison Clarke | 020 7184 4384 |
Keith, Bayley, Rogers & Co. Limited (Broker) | |
Brinsley Holman | 07776 30 22 28 |
Graham Atthill-Beck | 07506 43 41 07
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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 | |||||
a) | Name | Christopher Theis | ||||
2. | Reason for the Notification | |||||
a) | Position/status | Chief Executive Officer | ||||
b) | Initial notification/Amendment |
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3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | Path Investments plc | ||||
b) | LEI | 21380058VQBP76M7TN11 | ||||
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 |
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Identification code | GB00BYQD5059 | |||||
b) | Nature of the transaction |
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c) | Price(s) and volume(s) |
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d) | Aggregated information: · Aggregated volume · Price |
N/A
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e) | Date of the transaction | 8 October 2020 | ||||
f) | Place of the transaction | Outside of trading venue | ||||
2. | Details of the person discharging managerial responsibilities / person closely associated | |||||
a) | Name | Christopher Theis | ||||
3. | Reason for the Notification | |||||
a) | Position/status | Chief Executive Officer | ||||
b) | Initial notification/Amendment |
| ||||
4. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | Path Investments plc | ||||
b) | LEI | 21380058VQBP76M7TN11 | ||||
5. | 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 |
| ||||
Identification code | GB00BYQD5059 | |||||
b) | Nature of the transaction |
| ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information: · Aggregated volume · Price |
N/A
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e) | Date of the transaction | 8 October 2020 | ||||
f) | Place of the transaction | Outside of trading venue | ||||