4 Jul 2022 14:43
Rambler Metals and Mining PLC / AIM: RMM / Sector: Natural Resources
4 July 2022
Rambler Metals and Mining PLC ('Rambler' or the 'Company')
Vesting of Restricted Share Units and Issuance of Ordinary Shares
London, England, Newfoundland and Labrador, Canada - Rambler Metals and Mining plc (AIM: RMM) ("Rambler" or the "Company"), a copper and gold producer, explorer and developer, announces that the Board of Directors has today authorized the issuance of 393,664 ordinary shares of 1 pence each in the Company ("Ordinary Shares") to persons discharging managerial responsibilities ("PDMR") and a former director of the Company, based on the vesting of a further third of the RSUs granted on 2 July 2021. The RSUs vest at 20.55p, being the closing price of the shares on 1 July 2022, the last trading day prior to vesting on 2 July 2022.
The RSUs issued on 2 July 2021 entitle the holder to new Ordinary Shares upon the vesting conditions for the RSU being satisfied. These RSUs vest: one third at the time of grant; one third on the first anniversary of award (being today); and one third on the second anniversary of award. These RSUs were issued as part of a compensation package which is intended to provide alignment with long term shareholder interest.
Total number of 2021 RSUs prior to this vesting | 787,336 |
Total number of 2021 RSUs vested | (393,664) |
Outstanding 2021 RSUs | 393,672 |
393,664 new Ordinary Shares have been issued today for 393,664 vested RSUs as follows:
PDMR | No. of Ordinary Shares issued | Total no. of Ordinary Shares held | % held of enlarged share capital |
Toby Bradbury | 123,000 | 1,071,770 | 0.66% |
Tim Sanford | 67,666 | 203,168 | 0.13% |
Peter Mercer | 67,666 | 168,666 | 0.10% |
Raphael Mwangobola | 67,666 | 187,534 | 0.12% |
67,666 new Ordinary Shares have been issued to Eason Cong Chen, previous Chief Financial Officer of the Company, who stepped down from the board on 24 March 2022.
Following this vesting, the number of RSUs remaining in issue, including the RSUs issued on 19 May 2022, is 1,043,672 subject to vesting criteria.
The total number of RSUs currently in issue represent in aggregate 0.64% of the enlarged issued ordinary share capital of the Company.
The new Ordinary Shares represent in aggregate 0.24% of the enlarged ordinary share capital of the Company.
Admission to trading on AIM and Total Voting Rights
Application will be made for 393,664 new Ordinary Shares which will rank pari passu with the existing Ordinary Shares of the Company, to be admitted to trading on AIM ("Admission"). It is expected that Admission will become effective and dealings will commence at 8:00 a.m. on or around 11 July 2022.
Following the issue of the new Ordinary Shares, the total issued share capital of the Company will consist of 162,041,123 ordinary shares of 1 pence each. The Company does not hold any Ordinary Shares in Treasury. Therefore, the total current voting rights in the Company following Admission will be 162,041,123 and this figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.
Market Abuse Regulation (MAR) Disclosure
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ('MAR') which has been incorporated into UK law by the European Union (Withdrawal) Act 2018. Upon the publication of this announcement via Regulatory Information Service ('RIS'), this inside information is now considered to be in the public domain.
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: | 1) Toby Bradbury 2) Tim Sanford 3) Peter Mercer 4) Raphael Mwangobola | |||||||||||||||
2. | Reason for the notification | ||||||||||||||||
a) | Position/status: | 1) CEO and Director 2) VP & Corporate Secretary 3) VP 4) VP and Project Director | |||||||||||||||
b) | Initial notification/Amendment: | Initial notification | |||||||||||||||
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||||||||||||||||
a) | Name: | Rambler Metals and Mining PLC | |||||||||||||||
b) | LEI: | 213800IB64T72HG7SD88 | |||||||||||||||
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: Identification code: | Ordinary Shares of 1p each GB00BLFJ1613 | |||||||||||||||
b) | Nature of the transaction: | Vesting of RSUs | |||||||||||||||
c) | Price(s) and volume(s): |
| |||||||||||||||
d) | Aggregated information: Price:
| 325,998
| |||||||||||||||
e) | Date of the transaction: | 2022-07-04 | |||||||||||||||
f) | Place of the transaction: | Outside a trading venue | |||||||||||||||
**ENDS**