REG - East Star Resources - Grant of Options
12/03/2025 07:00
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RNS Number : 2715A East Star Resources PLC 12 March 2025
12 March 2025
East Star Resources Plc
("East Star" or the "Company")
Grant of Options
East Star Resources Plc (LSE:EST), which is exploring for copper and gold in
Kazakhstan, has granted an aggregate of 8,458,688 options over new ordinary
shares in the Company to employees and directors of the Company pursuant to
the Company's Long Term Incentive Plan ("LTIP") (the "Options").
The Options will vest on the first anniversary of the grant date, being 11
March 2025, and expire on 10 February 2035. The exercise price of the Options
is 1.5p, which represents a 67% premium to the Company's closing share price
on 11 March 2025 and a 30% premium to the price of the Company's equity raise
in October 2024.
1,601,489 of the Options have been granted to the Company's Chief Executive
Officer, Alex Walker, 2,500,000 of the Options have been granted to the
Company's Technical Director, Chris van Wijk, and 1,020,290 of the Options
have been granted to the Company's non-executive directors. Further details on
the grant of Options to directors in accordance with the UK MAR Regulation
follows in the appendix below.
The remaining 3,336,909 Options have been granted to employees of the Company
in Kazakhstan on the same terms as described above.
In addition to the grant of the Options, 4,251,173 options granted pursuant to
the LTIP as announced on 1 March 2023 have been repriced to 1.5p from 4.3p and
all other terms remain the same.
East Star continues with its objective to establish a strong sense of
ownership in the Company's future by all its employees. Having been
established in Kazakhstan for over three years, the Company has built a
talented and dedicated workforce, and the granting of options under the
employee LTIP recognises the loyalty of employees to date as well as their
achievements and the work ethic they have demonstrated since joining the
Company.
East Star Resources Plc
Alex Walker, Chief Executive Officer
Tel: +44 (0)20 7390 0234 (via Vigo Consulting)
SI Capital (Corporate Broker)
Nick Emerson
Tel: +44 (0)1483 413 500
Vigo Consulting (Investor Relations)
Ben Simons / Peter Jacob
Tel: +44 (0)20 7390 0234
About East Star Resources Plc
East Star Resources is focused on the discovery and development of copper and
gold in Kazakhstan. East Star's management are based permanently on the
ground, supported by local expertise. The Company is pursuing three
exploration strategies:
· A Volcanogenic Massive Sulphide (VMS) discovery with a maiden JORC
MRE of 20.3Mt @ 1.16% copper, 1.54% zinc and 0.27% lead, in an
infrastructure-rich region, amenable to a low capex development
· Copper porphyry and epithermal gold exploration, with multiple
opportunities for Tier 1 deposits, supported by an initial $500k grant from
BHP Xplor in 2024
· Sediment-hosted copper exploration with Getech where the initial
targeting strategy is at no cost to East Star
Visit our website:
www.eaststarplc.com (http://www.eaststarplc.com)
Follow us on social media:
LinkedIn: https://www.linkedin.com/company/east-star-resources/
(https://www.linkedin.com/company/east-star-resources/)
X (formerly Twitter): https://twitter.com/EastStar_PLC
(https://twitter.com/EastStar_PLC)
Subscribe to our email alert service to be notified whenever East Star
releases news:
www.eaststarplc.com/newsalerts (http://www.eaststarplc.com/newsalerts)
The person who arranged for the release of this announcement was Alex Walker,
CEO of the Company.
This announcement contains inside information for the purposes of Article 7 of
Regulation 2014/596/EU which is part of domestic UK law pursuant to the Market
Abuse (Amendment) (EU Exit) Regulations (SI 2019/310) ("UK MAR"). Upon the
publication of this announcement, this inside information (as defined in UK
MAR) is now considered to be in the public domain.
Appendix - Notification of Dealing Forms
1. Details of the person discharging managerial responsibilities/person closely
associated
a) Name Alex Walker
2. Reason for notification
a) Position/Status Director
b) Initial notification/ Amendment
Amendment
3. Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name East Star Resources PLC
b) LEI 2138001Y6SMQC8DX2B40
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 one pence each
Identification Code
ISIN: GB00BN92HZ16
b) Nature of the transaction Amendment of exercise price of 2,898,511 existing options over Ordinary Shares
under the Company's Long Term Incentive Plan, from GBP0.043 to GBP0.015.
Grant of 1,601,489 new options over Ordinary Shares under the Company's Long
Term Incentive Plan.
c) Price(s) and volume(s)
Price Volume
Nil cost award 2,898,511
Nil cost award 1,601,489
d) Aggregated information 4,500,000 options
Exercise price: GBP0.015
- Aggregated Volume
- Price N/A
e) Date of the transaction 11 March 2025
f) Place of the transaction Off-market transaction
1. Details of the person discharging managerial responsibilities/person closely
associated
a) Name Sandy Barblett
2. Reason for notification
a) Position/Status Director
b) Initial notification/ Amendment
Amendment
3. Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name East Star Resources PLC
b) LEI 2138001Y6SMQC8DX2B40
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 one pence each
Identification Code
ISIN: GB00BN92HZ16
b) Nature of the transaction Amendment of exercise price of 289,855 existing options over Ordinary Shares
under the Company's Long Term Incentive Plan, from GBP0.043 to GBP0.015.
Grant of 510,145 new options over Ordinary Shares under the Company's Long
Term Incentive Plan.
c) Price(s) and volume(s)
Price Volume
Nil cost award 289,855
Nil cost award 510,145
d) Aggregated information 800,000 options
Exercise price: GBP0.015
- Aggregated Volume
- Price N/A
e) Date of the transaction 11 March 2025
f) Place of the transaction Off-market transaction
1. Details of the person discharging managerial responsibilities/person closely
associated
a) Name Christopher van Wijk
2. Reason for notification
a) Position/Status Director
b) Initial notification/ Initial notification
Amendment
3. Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name East Star Resources PLC
b) LEI 2138001Y6SMQC8DX2B40
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 one pence each
Identification Code
ISIN: GB00BN92HZ16
b) Nature of the transaction Grant of options over Ordinary Shares under the Company's Long Term Incentive
Plan.
c) Price(s) and volume(s)
Price Volume
Nil cost award 2,500,000
Aggregated information 2,500,000 options
Exercise price: GBP0.015
- Aggregated Volume
- Price N/A
d) Date of the transaction 11 March 2025
e) Place of the transaction Off-market transaction
1. Details of the person discharging managerial responsibilities/person closely
associated
a) Name Anthony Eastman
2. Reason for notification
a) Position/Status Director
b) Initial notification/ Amendment
Amendment
3. Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name East Star Resources PLC
b) LEI 2138001Y6SMQC8DX2B40
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 one pence each
Identification Code
ISIN: GB00BN92HZ16
b) Nature of the transaction Amendment of exercise price of 289,855 existing options over Ordinary Shares
under the Company's Long Term Incentive Plan, from GBP0.043 to GBP0.015.
Grant of 510,145 new options over Ordinary Shares under the Company's Long
Term Incentive Plan.
c) Price(s) and volume(s)
Price Volume
Nil cost award 289,855
Nil cost award 510,145
Aggregated information 800,000 options
Exercise price: GBP0.015
- Aggregated Volume
- Price N/A
d) Date of the transaction 11 March 2025
e) Place of the transaction Off-market transaction
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