REG - Europa Metals Ltd - Directors’ Dealings and Issue of Equity
24/01/2023 13:00
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RNS Number : 7148N Europa Metals Ltd 24 January 2023
24 January 2023
Europa Metals Ltd
("Europa Metals", the "Company" or the "Group") (AIM, AltX: EUZ)
Fee Conversions, Grant of Options and Performance Rights,
Directors' Dealings and Issue of Equity
Europa Metals, the European focused lead, zinc and silver developer,
announces, further to its announcement of 26 January 2022, the conversion by
certain of its directors of an aggregate amount of £42,880 of
deferred/accrued remuneration for the six month period ended 31 December 2022
into new ordinary shares of no par value in the capital of the Company
("Ordinary Shares") (the "Fee Conversions"). Pursuant to the Fee Conversions,
the Company is today issuing, in aggregate, 1,245,988 new Ordinary Shares (the
"Conversion Shares") at a blended issue price of approximately 3.44 pence per
share as determined by applying the relevant monthly volume weighted average
price for the Company's Ordinary Shares on AIM and relevant month end AUD:GBP
exchange rate, as applicable, to 50 per cent. of each participating director's
fees/salary for the period concerned. Such Fee Conversions conclude the
Company's fee deferral and conversion programme.
Application will be made to the London Stock Exchange for the abovementioned
1,245,988 Conversion Shares to be admitted to trading on AIM ("Admission") and
to the Johannesburg Stock Exchange for quotation on AltX. It is expected that
Admission will become effective and that dealings in the Conversion Shares
will commence at 8.00 a.m. on 30 January 2023.
Following Admission, the Company's total issued ordinary share capital will
comprise 94,171,790 Ordinary Shares with voting rights. This figure may be
used by shareholders as the denominator for the calculations by which they
will determine if they are required to notify their interest in, or a change
to their interest in, the Company's share capital pursuant to the Company's
Constitution.
Following Admission, the beneficial shareholdings of the directors receiving
Conversion Shares will be as follows:
Director Position Number of Conversion Shares to be received Total number of Ordinary Shares held on Admission % of voting rights held on Admission
Myles Campion Executive Chairman and acting CEO 1,090,859 2,108,182 2.24
Dr Evan Kirby Non-Executive Director 155,129 318,723 0.34
Grant of Options and Performance Rights
The Company has today also granted, in aggregate, 2,000,000 options
exercisable in three tranches to two of the Company's Directors, Daniel Smith
and Myles Campion (or their nominees) (the "Incentive Options"). Further
details of the Incentive Options are set out below:
Director Previous holding of options No. of Incentive Options granted (Tranche 1) No. of Incentive Options granted (Tranche 2) No. of Incentive Options granted (Tranche 3) Resultant holding of options
Myles Campion 1,591,667 250,000 375,000 375,000 2,591,667
Daniel Smith 180,000 250,000 375,000 375,000 1,180,000
Details of the individual tranches are as follows:
(a) Tranche 1: exercisable at a price of 3.35 pence per share (being a 25%
premium to the 30-day VWAP prior to their date of issue) and expiring on or
before 3 years from their date of issue;
(b) Tranche 2: exercisable at a price of 4.02 pence per share (being a 50%
premium to the 30-day VWAP prior to their date of issue) and expiring on or
before 3 years from their date of issue; and
(c) Tranche 3: exercisable at a price of 4.69 pence per share (being a 75%
premium to the 30-day VWAP prior to their date of issue) and expiring on or
before 3 years from their date of issue.
In addition, a total of 3,500,000 performance rights ("Performance Rights")
have today been issued to Myles Campion and Daniel Smith. The Performance
Rights are exercisable for nil consideration and are subject to the following
performance milestone conditions and expiry dates:
Tranche No. of Performance Rights and Recipient Performance Milestone Condition Expiry Date
1 1,500,000 to Myles Campion (or his nominee) Completion of the Option Agreement with Denarius Metals Corp. and receipt of 2 years from the date of issue
initial US$550k cash payments
250,000 to Daniel Smith (or his nominee) Completion of the Option Agreement with Denarius Metals Corp. and receipt of 2 years from the date of issue
initial US$550k cash payments
2 1,500,000 to Myles Campion (or his nominee) Successful Mining Licence Application for the Toral Project 2 years from the date of issue
250,000 to Daniel Smith (or his nominee) Successful Mining Licence Application for the Toral Project 2 years from the date of issue
For further information on the Company, please visit www.europametals.com or
contact:
Europa Metals Ltd
Dan Smith, Non-Executive Director and Company Secretary (Australia)
T: +61 417 978 955
Myles Campion, Executive Chairman and acting CEO (UK)
T: +44 (0)20 3289 9923
Strand Hanson Limited (Nominated Adviser)
Rory Murphy/Matthew Chandler
T: +44 (0)20 7409 3494
WH Ireland Limited (Broker)
Harry Ansell/Dan Bristowe/Katy Mitchell/Sarah Mather
T: +44 (0)20 7220 1666
Questco Corporate Advisory Proprietary Limited (JSE Sponsor)
Sharon Owens
T: +27 (11) 011 9212
The information contained within this announcement is deemed by the Company to
constitute inside information as stipulated under the Market Abuse Regulation
(EU) No. 596/2014 ("MAR") as it forms part of United Kingdom domestic law by
virtue of the European Union (Withdrawal) Act 2018, as amended.
PDMR Notification Forms
The notifications below are made in accordance with the requirements of MAR.
1. Details of the person discharging managerial responsibilities / person closely
associated
a) Name Myles Campion
2. Reason for the Notification
a) Position/status Executive Chairman and acting CEO
b) Initial notification/amendment Initial notification
3. Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name Europa Metals Ltd
b) LEI 2138008QU5PGK777XM59
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 Ordinary shares of no par value each
Incentive options
Performance rights over ordinary shares
Identification code AU0000090060
b) Nature of the Transaction Conversion of accrued fees
Grant of incentive options under the Company's incentive plan
Grant of performance rights
c) Price(s) and volume(s) Price(s) Volume(s)
3.35 pence 1,090,859
4.02 pence 250,000
4.69 pence 375,000
4.64 pence 375,000
Nil pence 3,000,000
d) Aggregated information N/A (Single transaction)
Aggregated volume price
e) Date of the transaction 24 January 2023
f) Place of the transaction Outside of a trading venue
d)
Aggregated information
Aggregated volume price
N/A (Single transaction)
e)
Date of the transaction
24 January 2023
f)
Place of the transaction
Outside of a trading venue
1. Details of the person discharging managerial responsibilities / person closely
associated
a) Name Dr Evan Kirby
2. Reason for the Notification
a) Position/status Non-Executive Director
b) Initial notification/amendment Initial notification
3. Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name Europa Metals Ltd
b) LEI 2138008QU5PGK777XM59
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 Ordinary shares of no par value each
Identification code AU0000090060
b) Nature of the Transaction Conversion of accrued fees
c) Price(s) and volume(s) Price(s) Volume(s)
3.44 pence 155,129
d) Aggregated information N/A (Single transaction)
Aggregated volume price
e) Date of the transaction 24 January 2023
f) Place of the transaction Outside of a trading venue
d)
Aggregated information
Aggregated volume price
N/A (Single transaction)
e)
Date of the transaction
24 January 2023
f)
Place of the transaction
Outside of a trading venue
1. Details of the person discharging managerial responsibilities / person closely
associated
a) Name Daniel Smith
2. Reason for the Notification
a) Position/status Non-Executive Director
b) Initial notification/amendment Initial notification
3. Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name Europa Metals Ltd
b) LEI 2138008QU5PGK777XM59
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
Incentive options
Performance rights over ordinary shares
Identification code AU0000090060
b) Nature of the Transaction Grant of incentive options under the Company's incentive plan
Grant of performance rights
c) Price(s) and volume(s) Price(s) Volume(s)
3.35 pence 250,000
4.02 pence 375,000
4.69 pence 375,000
Nil pence 500,000
d) Aggregated information N/A (Single transaction)
Aggregated volume price
e) Date of the transaction 24 January 2023
f) Place of the transaction Outside of a trading venue
d)
Aggregated information
Aggregated volume price
N/A (Single transaction)
e)
Date of the transaction
24 January 2023
f)
Place of the transaction
Outside of a trading venue
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