REG - Europa Metals Ltd - Issue of Options and Directors' Dealings

Europa MetalsAnnouncement

18/12/2020 07:01

RNS Number : 1391J
  
Europa Metals Ltd
  
18 December 2020
  
 

18 December 2020
Europa Metals Ltd
("Europa Metals", the "Company" or the "Group") (AIM, AltX: EUZ)
Issue of Options and Directors' Dealings
Europa Metals, the European focused lead-zinc and silver developer, announces that, further to the approval of resolutions 2 to 5 at the Company's Annual General Meeting held on 30 November 2020, the Company has today granted, in aggregate, 1,380,000 options to the Company's Executive and Non-Executive Directors (the "Incentive Options"). The Incentive Options are exercisable at 8.89 pence per share for the Executive Directors and at 12.89 pence per share for the Non-Executive Directors, being the 10-day VWAP and a 45% premium to the 10-day VWAP, up to and including 17 December 2020, respectively. 
In addition, 20,000 options, originally intended to be issued to Daniel Smith, pursuant to the passing of resolution 5, have instead been issued to a consultant of the Company, on the same terms as the Incentive Options granted to the Non-Executive Directors. Accordingly, Daniel Smith has been granted 80,000 Incentive Options as set out below.
Further details on the Incentive Options issued to the Executive Directors and the resultant total options held by each such director are set out below:



Executive Director


Previous holding of options


Number of Incentive Options granted (Tranche 1)


Number of Incentive Options granted (Tranche 2)


Number of Incentive Options granted (Tranche 3)


Resultant holding of options




Laurence Read


925,000


200,000


200,000


200,000


1,525,000




Myles Campion


991,666


200,000


200,000


200,000


1,591,666



 
Details of the individual tranches are as follows:
a)    Tranche 1: vests on the delineation, by an independent third party, of greater than a 4.5Mt Indicated Resource estimate at the Toral Project, reported in accordance with JORC (2012), exercisable at a price of 8.89 pence per share and expiring on or before 18 December 2023; 
b)    Tranche 2: vests on the delivery of a positive Pre-feasibility Study at the Toral Project with an independent recommendation for the Company to continue advancing the project, exercisable at a price of 8.89 pence per share and expiring on or before 18 December 2023; and
c)    Tranche 3: vests on the submission of an application for a Mining Licence at the Toral Project, exercisable at a price of 8.89 pence per share and expiring on or before 18 December 2023.
 
Further details on the Incentive Options issued to the Non-Executive Directors and the resultant total options held by each such director are set out below:
 



Non-Executive Director


Previous holding of options


Number of Incentive Options granted


Exercise Price (being a 45% premium to the 10-day VWAP up to and including 17 December 2020)


Expiry Date


Resultant holding of options




Evan Kirby


245,000


100,000


12.89 pence


18 December 2023


345,000




Daniel Smith


100,000


80,000


12.89 pence


18 December 2023


180,000



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
Laurence Read, CEO (UK)
T: +44 (0)20 3289 9923
 
Linkedin: Europa Metals ltd
Twitter: @ltdeuropa
Vox: Europametals
 
Strand Hanson Limited (Nominated Adviser)
Rory Murphy/Matthew Chandler 
T: +44 (0)20 7409 3494
 
Tavistock (PR and IR)
Emily Fenton, Barney Hayward, Oliver Lamb
T: +44 (0)20 7920 3150 / EuropaMetals@Tavistock.co.uk
 
Turner Pope Investments (TPI) Limited (Broker)
Andy Thacker
T: +44 (0)20 3657 0050
 
Sasfin Capital Proprietary Limited (a member of the Sasfin group)
Sharon Owens

T (direct): +27 11 809 7762
 
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").
 
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
 




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


Issue of options under the Company's Incentive Plan
 




Identification code


AU0000090060
 




b)


Nature of the Transaction


Issue of options
 




c)


Price(s) and volume(s)





Price(s)


Volume(s)




1. 8.89 pence
2. 8.89 pence
3. 8.89 pence


200,000
200,000
200,000








d)


Aggregated information
Aggregated volume price


600,000 options 
N/A




e)


Date of the transaction


18 December 2020




f)


Place of the transaction


AIM (LSE)



 



1.


Details of the person discharging managerial responsibilities / person closely associated




a)


Name


Laurence Read
 




2.


Reason for the Notification




a)


Position/status


CEO & 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


Issue of options under the Company's Incentive Plan




Identification code


AU0000090060
 




b)


Nature of the Transaction


Issue of options
 




c)


Price(s) and volume(s)





Price(s)


Volume(s)




1. 8.89 pence
2. 8.89 pence
3. 8.89 pence


200,000
200,000
200,000








d)


Aggregated information
Aggregated volume price


600,000 options 
N/A




e)


Date of the transaction


18 December 2020




f)


Place of the transaction


AIM (LSE)



 



1.


Details of the person discharging managerial responsibilities / person closely associated




a)


Name


1.    Evan Kirby
2.    Daniel Smith




2.


Reason for the Notification




a)


Position/status


1.   Non-Executive Director
2.   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


Issue of options under the Company's Incentive Plan




Identification code


AU0000090060
 




b)


Nature of the Transaction


Issue of options
 




c)


Price(s) and volume(s)





Price(s)


Volume(s)




1. 12.89 pence
2. 12.89 pence


100,000
80,000








d)


Aggregated information
Aggregated volume price


N/A




e)


Date of the transaction


18 December 2020




f)


Place of the transaction


AIM (LSE)



 

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