REG - Horizonte Minerals - Award of Options

Horizonte MineralsAnnouncement

13/07/2022 08:00

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RNS Number : 2496S  Horizonte Minerals PLC  13 July 2022

NEWS
RELEASE

13 July 2022

 

Horizonte Minerals Plc

("Horizonte" or the "Company")

 

Award of Options

 

Horizonte Minerals Plc (AIM: HZM, TSX: HZM), the nickel development company
focused in Brazil, announces the award of options to certain key employees and
senior executives of the group, including certain key members of the Brazilian
team.

 

The Company has awarded new share options on 12 July 2022 (the "Award Date") over 9,736,250 ordinary shares of £0.20 each in the capital of the Company to executives (PDMRs) and key personnel in the UK and Brazil under unapproved (or 'non tax-advantaged') standalone option agreements (the "Awards"). Each Award is exercisable in return for one ordinary share in the Company and will vest in three tranches on the 12-month, 18-month and 28-month anniversaries of the Award Date at a ratio of 25%, 25% and 50%, with exercise prices of £1.68, £1.72 and £1.76 for each one third of the Awards.
 
The exercise prices of £1.68, £1.72 and £1.76 represent premiums of 66.34%, 70.30% and 74.26% to the closing price on 11 July 2022 of £1.01 and premiums of 20%, 22.85% and 25.71% to the price at which the equity was issued at for the fundraise to construct the Araguaia ferronickel project as announced on 24 November 2021 of £1.40 (as adjusted post share consolidation).
 
The PDMRs set out below hold the following Awards:
 
 PDMR           Position                     Awards Granted  Total Awards Post Grant
 Jeremy Martin  Director & CEO               3,888,750       5,026,250
 Simon Retter   CFO & Company Secretary      2,932,500       3,282,500
 Total                                       6,821,250       8,308,750

 
Awards over a further 2,915,000 ordinary shares were granted to other members of the Leadership Team.
 
The Awards have a maximum term of 10 years from the Award Date, subject to any earlier lapsing under the option agreements.

 

The total number of options outstanding is 15,451,250 which represents 7.93%
of the current issued share capital of 190,468,279 ordinary shares.

 

The notification in respect of the Awards set out in the Annex below was made
subject to the requirements of Article 19 of the Market Abuse Regulation:

 

 

Annex

 

 1    Details of the person discharging managerial responsibilities / person closely

    associate

 a)   Name                                                         Jeremy Martin

 2    Reason for the notification

 a)   Position/status                                              Director & CEO (PDMR)

 b)   Initial notification /Amendment                              Initial notification

 3    Details of the issuer, emission allowance market participant, auction

    platform, auctioneer or auction monitor

 a)   Name                                                         Horizonte Minerals Plc

 b)   LEI                                                          213800OEYYR39UNYQY91

 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 awarded under unapproved (or 'non tax-advantaged') standalone option

                                                            agreements over ordinary shares of 20p each

      Identification code                                          GB00BMXLQJ47

 b)   Nature of the transaction                                    Options awarded under unapproved (or 'non tax-advantaged') standalone option

                                                            agreements over ordinary shares of 20p each

 c)   Price(s) and volume(s)

Price per instrument  Volume
                                                                   £1.68 per share       1,296,250

                                                                   (cost of options)
                                                                   £1.72 per share       1,296,250

                                                                   (cost of options)
                                                                   £1.76 per share       1,296,250

                                                                   (cost of options)

 
 d)   Aggregated Information

      Volume

                                                                   Volume: 3,888,750 options

      Price

                                                                   Price: N/A (see item d) above).
 e)   Date of transaction                                          12 July 2022
 f)   Place of transaction                                         Outside a trading venue

 

d)

Aggregated Information

 

Volume

 

Price

 

 

 

Volume: 3,888,750 options

 

Price: N/A (see item d) above).

e)

Date of transaction

12 July 2022

f)

Place of transaction

Outside a trading venue

 

 

 

 1    Details of the person discharging managerial responsibilities / person closely

    associate

 a)   Name                                                         Simon Retter

 2    Reason for the notification

 a)   Position/status                                              CFO & Company Secretary (PDMR)

 b)   Initial notification /Amendment                              Initial notification

 3    Details of the issuer, emission allowance market participant, auction

    platform, auctioneer or auction monitor

 a)   Name                                                         Horizonte Minerals Plc

 b)   LEI                                                          213800OEYYR39UNYQY91

 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 awarded under unapproved (or 'non tax-advantaged') standalone option

                                                            agreements over ordinary shares of 20p each

      Identification code                                          GB00BMXLQJ47

 b)   Nature of the transaction                                    Options awarded under unapproved (or 'non tax-advantaged') standalone option

                                                            agreements over ordinary shares of 20p each

 c)   Price(s) and volume(s)

Price per instrument  Volume
                                                                   £1.68 per share       977,500

                                                                   (cost of options)
                                                                   £1.72 per share       977,500

                                                                   (cost of options)
                                                                   £1.76 per share       977,500

                                                                   (cost of options)

 
 d)   Aggregated Information

      Volume

                                                                   Volume: 2,932,500 options

      Price

                                                                   Price: N/A (see item d) above).
 e)   Date of transaction                                          12 July 2022
 f)   Place of transaction                                         Outside a trading venue

 

d)

Aggregated Information

 

Volume

 

Price

 

 

 

Volume: 2,932,500 options

 

Price: N/A (see item d) above).

e)

Date of transaction

12 July 2022

f)

Place of transaction

Outside a trading venue

 

 

For further information, visit www.horizonteminerals.com
(http://www.horizonteminerals.com) or contact:

 

 Horizonte Minerals plc                                info@horizonteminerals.com (mailto:info@horizonteminerals.com)

 Jeremy Martin (CEO)                                   +44 (0) 20 3356 2901

 Simon Retter (CFO)

 Peel Hunt LLP (Nominated Adviser & Joint Broker)      +44 (0)20 7418 8900

 Ross Allister

 David McKeown

 BMO (Joint Broker)                                    +44 (0) 20 7236 1010

 Thomas Rider

 Pascal Lussier Duquette

 Andrew Cameron

 Tavistock (Financial PR)                              +44 (0) 20 7920 3150

 Jos Simson

 Cath Drummond

 

 

About Horizonte Minerals:

Horizonte Minerals Plc (AIM & TSX: HZM) is developing two 100%-owned,
tier-one projects in Pará state, Brazil; the Araguaia Nickel Project and the
Vermelho Nickel-Cobalt Project. Both projects are large-scale, high-grade,
low-cost, low-carbon and scalable. Araguaia is fully funded and in
construction. The project will produce 29,000 tonnes of nickel per year to
supply the stainless steel market. Vermelho is at feasibility study stage and
will produce 25,000 tonnes of nickel and 1,250 tonnes of cobalt to supply the
EV battery market.  Horizonte's combined near-term production profile of over
50,000 tonnes of nickel per year positions the Company as a globally
significant nickel producer. Horizonte is developing a new nickel district in
Brazil that will benefit from established infrastructure, including
hydroelectric power available in the Carajás Mining District.

 

 

CAUTIONARY STATEMENT REGARDING FORWARD LOOKING INFORMATION

Except for statements of historical fact relating to the Company, certain
information contained in this press release may constitute "forward-looking
information" under Canadian securities legislation. Generally, forward-looking
information can be identified by the use of forward-looking terminology such
as "plans", "expects" or "does not expect", "is expected", "budget",
"scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not
anticipate", or "believes", or variations of such words and phrases or
statements that certain actions, events or results "may", "could", "would",
"might" or "will be taken", "occur" or "be achieved". Forward-looking
information is based on the reasonable assumptions, estimates, analysis and
opinions of management made in light of its experience and its perception of
trends, current conditions and expected developments, as well as other factors
that management believes to be relevant and reasonable in the circumstances at
the date that such statements are made, and are inherently subject to known
and unknown risks, uncertainties and other factors that may cause the actual
results, level of activity, performance or achievements of the Company to be
materially different from those expressed or implied by such forward-looking
information, including but not limited to various risks associated with the
legal and regulatory framework within which the Company operates, together
with the risks identified and disclosed in the Company's disclosure record
available on the Company's profile on SEDAR at www.sedar.com
(http://www.sedar.com) , including without limitation, the annual information
form of the Company for the year ended 31 December 2021, the Araguaia Report
and the Vermelho Report. Although management of the Company has attempted to
identify important factors that could cause actual results to differ
materially from those contained in forward-looking information, there may be
other factors that cause results not to be as anticipated, estimated or
intended. There can be no assurance that such statements will prove to be
accurate, as actual results and future events could differ materially from
those anticipated in such statements.

 

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