20 Sep 2019 16:49
TUNGSTEN CORPORATION PLC
("Tungsten" or the "Company")
20 September 2019
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them in accordance with the Market Abuse Regulations.
On 19th September 2019, the following awards over ordinary shares of 0.438 pence each in Tungsten Corporation Plc were granted under the Tungsten Corporation Plc Long Term Incentive Plan to the following person(s) discharging managerial responsibilities (each a "PDMR"):
PDMR | No. of shares under Award |
Andrew Lemonofides | 531,632 |
David Williams | 478,469 |
Patrick Clark | 193,666 |
The above LTIP awards were granted as nominal cost options which will ordinarily become exercisable on 19th September 2022 subject to satisfaction of performance conditions in relation to revenue growth, EBITDA growth and increase in share price over three financial years, and also to the grantee's continued service with the Tungsten group.
In addition on the same date, the following award over ordinary shares of 0.438 pence each in Tungsten Corporation Plc was granted to the following PDMR:
PDMR | No. of shares under Award |
Andrew Lemonofides | 250,000 |
The above award was granted as an exceptional award of nominal cost options granted on identical terms to an award under the Tungsten Corporation plc Deferred Share Bonus Plan. The award will vest over a two year period (50% vesting on the first anniversary of the date of grant, and the remaining 50% will vest on the second anniversary of the date of grant), subject to the grantee's continued service with the Tungsten group.
The information set out below is provided in accordance with the requirements of Article 19(3) of the Market Abuse Regulation (EU) No 596/2014.
Details of the full notifications received by the Company are set out below.
1 | Details of the person discharging managerial responsibilities / person closely associated | |||||
a) | Name | Andrew Lemonofides | ||||
2 | Reason for Notification | |||||
a) | Position/status | Chief Executive Officer | ||||
b) | Initial notification/Amendment | Initial Announcement | ||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | Tungsten Corporation Plc | ||||
b) | LEI | 213800KY57NETI1IJ428 | ||||
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 0.438 pence each in Tungsten Corporation Plc | ||||
Identification code | GB00B7Z0Q502 | |||||
b) | Nature of the transaction | Grant of a nominal cost option award under the Tungsten Corporation Plc Long Term Incentive Plan. | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information - Aggregated volume - Price | Not applicable - single transaction | ||||
e) | Date of the transaction | 19th September 2019 | ||||
f) | Place of the transaction | Outside a trading venue | ||||
1 | Details of the person discharging managerial responsibilities / person closely associated | |||||
a) | Name | David Williams | ||||
2 | Reason for Notification | |||||
a) | Position/status | Chief Financial Officer | ||||
b) | Initial notification/Amendment | Initial Announcement | ||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | Tungsten Corporation Plc | ||||
b) | LEI | 213800KY57NETI1IJ428 | ||||
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 0.438 pence each in Tungsten Corporation Plc | ||||
Identification code | GB00B7Z0Q502 | |||||
b) | Nature of the transaction | Grant of a nominal cost option award under the Tungsten Corporation Plc Long Term Incentive Plan. | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information - Aggregated volume - Price | Not applicable - single transaction | ||||
e) | Date of the transaction | 19th September 2019 | ||||
f) | Place of the transaction | Outside a trading venue | ||||
1 | Details of the person discharging managerial responsibilities / person closely associated | |||||
a) | Name | Patrick Clark | ||||
2 | Reason for Notification | |||||
a) | Position/status | General Counsel and Company Secretary | ||||
b) | Initial notification/Amendment | Initial Announcement | ||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | Tungsten Corporation Plc | ||||
b) | LEI | 213800KY57NETI1IJ428 | ||||
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 0.438 pence each in Tungsten Corporation Plc | ||||
Identification code | GB00B7Z0Q502 | |||||
b) | Nature of the transaction | Grant of a nominal cost option award under the Tungsten Corporation Plc Long Term Incentive Plan. | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information - Aggregated volume - Price | Not applicable - single transaction | ||||
e) | Date of the transaction | 19th September 2019 | ||||
f) | Place of the transaction | Outside a trading venue | ||||
1 | Details of the person discharging managerial responsibilities / person closely associated | |||||
a) | Name | Andrew Lemonofides | ||||
2 | Reason for Notification | |||||
a) | Position/status | Chief Executive Officer | ||||
b) | Initial notification/Amendment | Initial Announcement | ||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | Tungsten Corporation Plc | ||||
b) | LEI | 213800KY57NETI1IJ428 | ||||
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 0.438 pence each in Tungsten Corporation Plc | ||||
Identification code | GB00B7Z0Q502 | |||||
b) | Nature of the transaction | Grant of a nominal cost option on identical terms to an award under the Tungsten Corporation plc Deferred Share Bonus Plan. | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information - Aggregated volume - Price | Not applicable - single transaction | ||||
e) | Date of the transaction | 19th September 2019 | ||||
f) | Place of the transaction | Outside a trading venue | ||||
Name of authorised official of issuer responsible for making notification:
Patrick Clark
Company Secretary to Tungsten Corporation plc