REG - Capital Metals PLC - Grant of Share Options

Capital MetalsAnnouncement

25/03/2024 08:45

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RNS Number : 1216I  Capital Metals PLC  25 March 2024

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS STIPULATED UNDER THE UK
VERSION OF THE MARKET ABUSE REGULATION NO 596/2014 WHICH IS PART OF ENGLISH
LAW BY VIRTUE OF THE EUROPEAN (WITHDRAWAL) ACT 2018, AS AMENDED.  ON
PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS
INFORMATION IS CONSIDERED TO BE IN THE PUBLIC DOMAIN.

 

25 March 2024

 

Capital Metals plc

 

("Capital Metals" or the "Company")

 

Grant of Share Options

 

Capital Metals (AIM: CMET), a mineral sands company approaching mine
development stage at the high-grade Eastern Minerals Project in Sri Lanka (the
"Project"), announces the grant of share options over 750,000 ordinary shares
to a Director as set out below (the "Options").

 

Following this announcement, and the cancellation of 500,000 historical share
options, the Company now has a total of 14,800,000 share options in issue,
representing approximately 4.1% of the fully diluted share capital of the
Company. In addition, there are 2,568,627 warrants outstanding.

 

 

Schedule of Directors Options

 

 DIRECTOR      ROLE                    DATE OF        NO. OPTIONS GRANTED  EXERCISE PRICE  VESTING CONDITIONS  EXPIRY DATE

                                       GRANT
 Kwan Wey Teh  Non-Executive Director  25 March 2024  750,000              5p              See *Note 1         25 March 2029

 

*Note 1: One-third of the Options granted to Kwan Wey Teh shall vest
immediately, and one-third shall vest on each of the following two
anniversaries of the date of grant.

 

500,000 options which had previously been granted to Kwan Wey Teh have been
cancelled with immediate effect.

 

Related Party Transaction

 

The issue of the Options to Mr Teh have been treated as related party
transactions under AIM Rule 13.

 

As a recipient of the Options, Mr Teh is not independent and has not taken
part in the Board's consideration of the Option grant. Greg Martyr and James
Leahy are the independent directors for this purpose. The independent director
considers, having consulted with SPARK Advisory Partners Limited, the
Company's nominated adviser, that the terms of the Option grant to Mr Teh are
fair and reasonable insofar as the Company's shareholders are concerned.

 

 

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

 

 Capital Metals plc                           Via Vigo Consulting

 Greg Martyr (Executive Chairman)
 Vigo Consulting (Investor Relations)         +44 (0)20 7390 0234

 Ben Simons / Peter Jacob                     capitalmetals@vigoconsulting.com (mailto:capitalmetals@vigoconsulting.com)
 SPARK Advisory Partners (Nominated Adviser)  +44 (0)20 3368 3554

 Neil Baldwin / James Keeshan
 Tavira Financial                             +44 (0)20 7100 5100

 Jonathan Evans / Oliver Stansfield

 

About Capital Metals

 

Capital Metals plc is a British company quoted on the AIM segment of the
London Stock Exchange and one of only a few foreign investors in Sri Lanka's
mining industry. After investing US$11 million in exploration and development
activities including detailed environmental assessments between 2017 and 2022,
the Company's Sri Lankan subsidiary, Damsila Exports (Pvt) Limited, was issued
an initial two licences in August 2022 to mine heavy mineral sands in the
Eastern Province, containing industrial minerals including ilmenite, rutile,
zircon, and garnet.

 

Appendix - 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                                                         Kwan Wey Teh
 2.  Reason for notification
 a)  Position/Status                                              Non-Executive Director
 b)  Initial notification/                                        Initial notification

     Amendment
 3.  Details of the issuer, emission allowance market participant, auction
     platform, auctioneer or auction monitor
 a)  Name                                                         Capital Metals plc
 b)  LEI                                                          213800RR4MW1ETEMS859
 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 over ordinary shares of 0.2 pence per share par value

Identification Code

                                                                  ISIN: GB00BMF75608
 b)  Nature of the transaction                                    Grant of options over ordinary shares
 c)  Price(s) and volume(s)

Price(s)  Volume(s)
                                                                                 5p        750,000

 d)  Aggregated information                                       Single transaction as in 4 c) above

Price(s)  Volume(s)
     - Aggregated Volume                                          5p        750,000

     - Price
 e)  Date of the transaction                                      25 March 2024
 f)  Place of the transaction                                     Outside a trading venue

d)

Aggregated information

 

- Aggregated Volume

 

- Price

Single transaction as in 4 c) above

 

 Price(s)  Volume(s)
 5p        750,000

e)

Date of the transaction

25 March 2024

f)

Place of the transaction

Outside a trading venue

 

 

 

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