Last checked at 29 Aug 2017 07:00
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Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.
29 August 2017
Strategic Minerals plc
("Strategic Minerals" or the "Company" or "SML")
Exercise of Share Options by Managing Director
Strategic Minerals PLC (AIM: SML; USOTC: SMCDY), the minerals production and development company, is pleased to announce that it has received a Notice to Exercise in relation to a portion of the currently vested options available to the Company's Managing Director,Mr John Peters.
Mr Peters has provided a notice that he wishes to exercise options over 10,000,000 shares in the tranche expiring 30 June 2018. Along with the notice, Mr Peters has provided £100,000 representing the exercise price of £0-01 per share.
It is anticipated that the new shares associated with this exercise will be issued within the next two weeks and SML will update the market when this occurs.
The Company's Managing Director, John Peters, said:
"The commitment of my personal funds to the exercise of these options reflects my confidence in the future outlook for SML and the Company's strategy.
"Consequently, I am fully committed, for the foreseeable future, to holding both these 10,000,000 new shares as well as the existing 10,000,000 shares I currently own."
Strategic Minerals plc | +61 (0) 414 727 965 | |
John Peters | ||
Managing Director | ||
www.strategicminerals.net | ||
Follow Strategic Minerals on: | ||
Vox Markets: https://www.voxmarkets.co.uk/company/SML/ | ||
Twitter: @SML_Minerals | ||
LinkedIn: https://www.linkedin.com/company/strategic-minerals-plc | ||
Facebook: https://www.facebook.com/search/top/?q=strategic%20minerals%20plc | ||
SP Angel Corporate Finance LLP | +44 (0)20 3470 0470 | |
Nominated Adviser and Joint Broker | ||
Ewan Leggat | ||
Optiva Securities Limited | +44 (0)20 3411 1880 | |
Joint Broker | ||
Graeme Dickson | ||
Yellow Jersey PR | +44 (0) 7825 916 715 | |
Financial PR | ||
Felicity Winkles | ||
Joe Burgess | ||
Henry Wilkinson | ||
Notes to Editors
Strategic Minerals Plc is an AIM-quoted, diversified mineral development and production company with projects in the United States of America, the UK and Australia. The Company is focused on acquiring and developing cash generative, high quality projects which meet local market demand for commodities and utilising this cash flow to undertake value added exploration.
In September 2011, Strategic Minerals purchased its first cash generating asset; the Cobre magnetite tailings dam project in New Mexico, USA which it brought into production in 2012 and which continues to provide a revenue stream for the Company. The portfolio was expanded in January 2016 with the acquisition of shares in Central Australian Rare Earths Pty Ltd, which holds tenements in Western Australia and the Northern Territory that are prospective for cobalt, gold, nickel laterites, nickel sulphides and rare earths. The Company has since acquired all shares in Central Australian Rare Earths Pty Ltd. In May 2016, an additional exploration asset was acquired when the company entered into an agreement with New Age Exploration Limited to acquire up to 50% of the Redmoor Tin/Tungsten project in Cornwall, UK. This 50% acquisition has now been completed and drilling at the project has commenced.