REG - Eurasia Mining PLC - Extension of Company Options

Eurasia MiningAnnouncement

02/05/2023 11:45

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20230502:nRSB1278Ya&default-theme=true

RNS Number : 1278Y  Eurasia Mining PLC  02 May 2023

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS DEFINED IN REGULATION NO.
596/2014 (AS IT FORMS PART OF RETAINED EU LAW AS DEFINED IN THE EUROPEAN UNION
(WITHDRAWAL) ACT 2018) AND IS IN ACCORDANCE WITH THE COMPANY'S OBLIGATIONS
UNDER ARTICLE 7 OF THAT REGULATION.

2 May 2023

Eurasia Mining Plc

Extension of Company Options

Eurasia Mining plc ("Eurasia" or the "Company"), the palladium, platinum,
rhodium, iridium and gold producing company, announces that it has extended
the expiry date on a class of share options which were granted to certain
Directors, employees and a substantial shareholder on 2 November 2018 with a
four-year term, and were subsequently extended to 2 May 2023 on 2 November
2022.

The expiry date on 146,000,000 share options, with a range of exercise prices
(the "Options") has been extended for a further period of six months from 2
May 2023 to 2 November 2023 (the "Options Extension").

Related Party Transaction

As 40,000,000 of the Options are held by Christian Schaffalitzky, the
Company's Executive Chairman and Dmitry Suschov, a substantial shareholder in
the Company (the "Related Parties"), the Options Extension constitutes a
related party transaction under Rule 13 of the AIM Rules.

The Options which are held by the Related Parties are summarised in the table
below:

 Related Party            Options exercisable at 0.42 pence expiring 2 November 2023  Options exercisable at 0.60 pence expiring 2 November 2023  Options exercisable at 0.90 pence expiring 2 November 2023  Total Options
 Christian Schaffalitzky  10,000,000                                                  5,000,000                                                   5,000,000                                                   20,000,000
 Dmitry Suschov           10,000,000                                                  5,000,000                                                   5,000,000                                                   20,000,000

 

Accordingly, the Company's directors who are independent of the Options
Extension (being all directors with the exception of Christian Schaffalitzky)
consider, having consulted with the Company's nominated adviser, that the
terms of the Options Extension are fair and reasonable insofar as shareholders
of the Company are concerned.

Outstanding Options and Warrants

As a result of the Options Extension, the Company has the following
outstanding share options and warrants:

·    57,000,000 options exercisable at 0.42 pence, expiring on 2 November
2023;

·    47,000,000 options exercisable at 0.60 pence, expiring on 2 November
2023;

·    42,000,000 options exercisable at 0.90 pence, expiring on 2 November
2023;

·    53,306,751 warrants exercisable at 26.5 pence, expiring 20 May 2024;
and

·    41,551,563 warrants exercisable at 26.0 pence, expiring 20 September
2024.

A copy of this announcement is also available on Eurasia's website at:

https://www.eurasiamining.co.uk/investors/news-announcements
(https://www.eurasiamining.co.uk/investors/news-announcements)

 

For further information, please contact:

 Eurasia Mining Plc                             +44 (0) 20 7932 0418
 Christian Schaffalitzky / Keith Byrne
 SP Angel (Nominated Advisor and Joint Broker)  +44 (0) 20 3470 0470

 Jeff Keating / David Hignell / Adam Cowl
 Optiva Securities (Joint Broker)               +44 (0) 20 3137 1902

  Christian Dennis

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  MSCBGGDUGXGDGXD