REG - BlueRock DiamondsPLC - Grant of Options and Transfer of CLN

Bluerock DiamondsAnnouncement

18/02/2020 18:30

RNS Number : 3964D
BlueRock Diamonds PLC
18 February 2020
 


BlueRock Diamonds PLC / AIM: BRD / Sector: Natural Resources
18 February 2020
BlueRock Diamonds PLC ('BlueRock' or the 'Company')
Grant of Options and Transfer of Convertible Loan Note
 
BlueRock Diamonds PLC, the AIM listed diamond producer, which owns and operates the Kareevlei Diamond Mine in the Kimberley region of South Africa, announces the grant of certain share options as set out below.
 
Grant of 2019 Target Options
 
Following the Company's announcement of earlier today, a total of 130,320 share options ("2019 Target Options") over ordinary shares of 5 pence each in the Company ("Ordinary Shares") have been awarded to Mike Houston, Executive Chairman of the Company, and Gus Simbanegavi, Chief Executive Officer of Kareevlei Mining Pty Ltd and from tomorrow, Chief Operating Officer of the Company.  As announced on 16 May 2019, the 2019 Target Options were to be issued subject to the Company's 2019 production exceeding 12,000 carats.  Accordingly, as the Company produced 14,033 carats in the year, the 2019 Target Options have now been granted and have vested today. 
 
The 2019 Target Options are exercisable at 85p, being the price of the placing announced earlier today. The 2019 Target Options have a duration of five years.
 
Grant of 2020 Share Options
 
In addition, the Company has made the following award of share options today ("2020 Share Options").
 







Number


Price




Mike Houston


116,404


85p




David Facey


116,404


85p




Gus Simbanegavi


232,807


85p




Total


465,615







 
The 2020 Share Options are exercisable at 85p, being the price of the placing announced earlier today. In addition, the 2020 Share Options have a duration of five years and vest in two tranches: 50% on 18 February 2021 and 50% on 18 February 2022.
 
 



 Name






2019 Target Options Granted


2020 Share Options Granted


Options Previously Granted*


Total Options Held


Percentage Under Option*




Mike Houston






                  65,160


 
116,404


 
97,740


 
279,304


 
   5.1%




David Facey






-


116,404


65,160


181,564


3.3%




Gus Simbanegavi






             65,160


232,807


65,160


363,127


6.6%




Total






 130,320


 
465,615


 
228,060


 
823,995
 


 
15.0%













 
* options at 50p per share exercise price
** following admission of the Tranche 1 and Tranche 2 placing shares announced earlier today
 
The total share options in issue, at 15% of the Company's share capital as enlarged by the recent placing, is in line with the Company's stated limit.
 
Transfer of Convertible Loan Note
The Company has received notice of, and today approved, a transfer in respect to the sale of part of the Company's existing Convertible Loan Note with a face value of £462,500 from Mr Mark Poole to Mr Tim Leslie, a non-executive director of the Company.  The total Convertible Loan Note outstanding is currently £925,000 and following today's placing has a conversion price of approximately £1.66. 
 
**ENDS**
 
For further information, please visit BRD's website www.bluerockdiamonds.co.uk or contact:
 



BlueRock Diamonds PLC
Mike Houston
David Facey, FD


 
mhouston@bluerockdiamonds.co.uk
dfacey@bluerockdiamonds.co.uk




SP Angel (NOMAD and Joint Broker)
Stuart Gledhill / Caroline Rowe


 
Tel: +44 (0)20 3470 0470




Turner Pope
Andy Thacker


 
Tel: +44 (0)203 657 0050




St Brides Partners Ltd (Financial PR)
Isabel de Salis / Susie Geliher / Cosima Akerman


 
Tel: +44 (0)20 7236 1177



 
Notes to editors:
BlueRock Diamonds is an AIM-listed diamond producer which operates the Kareevlei Diamond Mine near Kimberley in South Africa which produces diamonds of exceptional quality and ranks in the top ten in the world in terms of average value per carat. The Kareevlei licence area covers 3,000 hectares and hosts five known diamondiferous kimberlite pipes. As at November 2018, it was estimated that the remaining Inferred Mineral Resource from the four kimberlite pipes (KV1, KV2, KV3 and KV5) represents a potential inground number of carats of 367,000.
 
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:


Mike Houston




2.


Reason for the notification




a)


Position/status:


Executive Chairman




b)


Initial notification/amendment:


Initial




3.


Details of the issuer emission allowance market participant, auction platform, auctioneer or auction monitor




a)


Name:


BlueRock Diamonds Plc




b)


LEI:


213800LVSJ2RNI3SSN92




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 £0.05
 GB00BKKJK954




b)


Nature of the transaction:


Grant of Options




c)


Price(s) and volume(s):


 2019 options



Prices(s)


Volume(s)




85 pence


65,160



 
2020 options



Prices(s)


Volume(s)




85 pence


116,404








d)


Aggregated information:
 Aggregated volume:
 Price:


Multiple transactions as in 4 c) above
 




e)


Date of transaction:


18 February 2020




f)


Place of transaction


Outside a trading venue



 
 



1.


Details of the person discharging managerial responsibilities/person closely associated




a)


Name:


Gus Simbanegavi




2.


Reason for the notification




a)


Position/status:


Chief Executive Officer of Kareevlei Mining Pty Ltd




b)


Initial notification/amendment:


Initial




3.


Details of the issuer emission allowance market participant, auction platform, auctioneer or auction monitor




a)


Name:


BlueRock Diamonds Plc




b)


LEI:


213800LVSJ2RNI3SSN92




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 £0.05
 
B00BKKJK954




b)


Nature of the transaction:


Grant of Options




c)


Price(s) and volume(s):





2019 options Prices(s)


Volume(s)




85 pence


65,160



 
 
 
2020 options



Prices(s)


Volume(s)




85 pence


232,807



 
 




d)


Aggregated information:
 Aggregated volume:
 Price:


Multiple transactions as in 4 c) above
 




e)


Date of transaction:


18 February 2020




f)


Place of transaction


Outside a trading venue



 



1.


Details of the person discharging managerial responsibilities/person closely associated




a)


Name:


David Facey




2.


Reason for the notification




a)


Position/status:


Finance Director  




b)


Initial notification/amendment:


Initial




3.


Details of the issuer emission allowance market participant, auction platform, auctioneer or auction monitor




a)


Name:


BlueRock Diamonds Plc




b)


LEI:


213800LVSJ2RNI3SSN92




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 £0.05
 
B00BKKJK954




b)


Nature of the transaction:


Grant of Options




c)


Price(s) and volume(s):


 2020 options



Prices(s)


Volume(s)




85 pence


116,404



 
 




d)


Aggregated information:
 Aggregated volume:
 Price:


Multiple transactions as in 4 c) above
 




e)


Date of transaction:


18 February 2020




f)


Place of transaction


Outside a trading venue



 




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END
 
 
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