20 Nov 2018 16:19
20 November 2018
W Resources Plc
("W" or the "Company")
Grant of Share Options
W Resources Plc (AIM:WRES), the tungsten, copper and gold, production, exploration and development company with assets in Spain and Portugal, announces the Directors have approved the recommendation of the Remuneration Committee to make a grant of share options over 30,000,000 new ordinary shares of 0.1p of the Company ("Ordinary Shares") to each of Directors Pablo Neira and James Argalas and a grant of share options over 120,000,000 new Ordinary Shares to Management Executives (the "Options"), all at an exercise price of £0.0055 per Ordinary Share.
The strike price is at a 5.77% premium to yesterday's closing share price of £0.0052.
Following the grant of the options the Directors Pablo Neira and James Argalas will hold the following Ordinary Shares and Options.
Director | Number of Options | Exercise Price | Expiry Date | Ordinary Shares |
Pablo Neira | 30,000,000 | £0.0055 | 30 November 2021 | 0 |
James Argalas | 30,000,000 | £0.0055 | 30 November 2021 | 0 |
The Options will be capable of exercise at any time until their expiry date of 30 November 2021. The Options are dependent on active service and employment with the Company and the Options will automatically lapse if service and employment is terminated prior to their expiry date.
Following the above grant, there are a total of 300,000,000 share options granted over unissued Ordinary Shares, representing 5.48% of the Company's current issued share capital of 5,478,074,605 Ordinary Shares.
The notifications below, made in accordance with the requirements of the Market Abuse Regulation, provide further detail.
1 | Details of the person discharging managerial responsibilities / person closely associated | ||
a) | Name | Pablo Neira | |
2 | Reason for the notification | ||
a) | Position / status | Non-Executive Director | |
b) | Initial notification / Amendment | Initial Notification | |
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
a) | Name | W Resources Plc | |
b) | LEI | 213800H66EK87TAOS666 | |
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 | Options to subscribe for new ordinary shares of 0.01p each | |
Identification code | GB00B0358H47 | ||
b) | Nature of the transaction | Grant of options | |
c) | Price(s) and volumes(s) | Price(s) | Volume(s) |
£0.0055 exercise price | 30,000,000 | ||
d) | Aggregated information | ||
Aggregated volume | 30,000,000 | ||
Price | 0.0055 | ||
e) | Date of the transaction | 20 November 2018 | |
f) | Place of the transaction | Outside of a trading venue | |
1 | Details of the person discharging managerial responsibilities / person closely associated | ||
a) | Name | James Argalas | |
2 | Reason for the notification | ||
a) | Position / status | Non-Executive Director | |
b) | Initial notification / Amendment | Initial Notification | |
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
a) | Name | W Resources Plc | |
b) | LEI | 213800H66EK87TAOS666 | |
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 | Options to subscribe for new ordinary shares of 0.01p each | |
Identification code | GB00B0358H47 | ||
b) | Nature of the transaction | Grant of options | |
c) | Price(s) and volumes(s) | Price(s) | Volume(s) |
£0.0055 exercise price | 30,000,000 | ||
d) | Aggregated information | ||
Aggregated volume | 30,000,000 | ||
Price | 0.0055 | ||
e) | Date of the transaction | 20 November 2018 | |
f) | Place of the transaction | Outside of a trading venue | |
The information communicated within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.
Enquiries:
W Resources Plc | Grant Thornton UK LLP |
Michael Masterman | Colin Aaronson / Jen Clarke / Seamus Fricker |
T: +44 (0) 20 7193 7463 | T: +44 (0) 20 7383 5100 |
www.wresources.com | |
Turner Pope Investments (TPI) Ltd | Gable Communications |
Andy Thacker | Justine James |
T: +44 (0) 203 621 4120 | T: +44 (0) 20 7193 7463 |
www.turnerpope.com | M: +44 (0) 7525 324431 |
WRES.L (WRES)