REG - Griffin Mining Ld - Excercise of Options

Griffin MiningAnnouncement

12/01/2021 13:45

RNS Number : 4335L
  
Griffin Mining Ld
  
12 January 2021
  
 

 
8th Floor, Royal Trust House, 54-56 Jermyn Street, London. SW1Y 6LX, United Kingdom
Telephone: + 44 (0)20 7629 7772  Facsimile:  + 44 (0)20 7629 7773
E mail: griffin@griffinmining.com
 
Exercise of Options
 
12th January 2021.
Griffin Mining Ltd ("the Company") announces that the Company has been notified of and subsequently authorised on 7th January 2021 the exercise of options ("the Options") over 1,291,666 new ordinary shares in the Company granted to the directors and management in February 2015 at an exercise price of 30p per share.
Following the exercise of the Options there will be 174,117,894 Ordinary Shares in the Company in issue. There are 540,000 shares held in treasury.   
The Options exercised include that by Persons Discharging Management Responsibility, as follows:
 







Number of options 
vested






Number of 
options
exercised






Number of options retained exercisable at 30p per share






Number of shares held after exercise




Adam Usdan (Director)


1,166,667






1,166,667






-






34,644,425



Following this exercise Adam Usdan, through both direct and indirect interests, will have a beneficial interest in 34,644,425 Ordinary Shares in Griffin, representing 19.9% of the Company's issued share capital.
Application has been made to the London Stock Exchange for 1,291,666 new ordinary shares to be admitted to trading on AIM. These new ordinary shares will rank pari passu in all respects with the existing ordinary shares. It is expected that admission will become effective on or around 15 January 2021.
 
 
Template for 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 


Adam Usdan




2


Reason for the notification




a)


Position/status


Director




b)


Initial notification/ Amendment


Initial notification




3


Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor




a)


Name


Griffin Mining Limited




b)


LEI








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 Identification code


Ordinary Shares




b)


Nature of the transaction


Exercise of options 




c)


Price(s) and volume(s)


1,166,666 Ordinary Shares at 30 pence per share equating to £350,000 




d)


Aggregated information

- Aggregated volume

- Price


1,166,666 Ordinary Shares in Griffin Mining Limited at 30p each.




e)


Date of the transaction


7 January 2021




f)


Place of the transaction


London Stock Exchange Alternative Investment Market




(1)  Commission Delegated Regulation (EU) 2016/522 of 17 December 2015 supplementing Regulation (EU) No 596/2014 of the European Parliament and of the Council as regards an exemption for certain third countries public bodies and central banks, the indicators of market manipulation, the disclosure thresholds, the competent authority for notifications of delays, the permission for trading during closed periods and types of notifiable managers' transactions (see page 1 of this Official Journal).









 
Further information
 



Griffin Mining Limited


Telephone: +44(0)20 7629 7772




Mladen Ninkov - Chairman
Roger Goodwin - Finance Director
 








Panmure Gordon (UK) Limited


Telephone: +44 (0)20 7886 2500




John Prior
 








Berenberg


Telephone: +44(0)20 3207 7800




Matthew Armitt
Jennifer Wyllie
Deltir Elezi
 







 
 
Griffin Mining Limited's shares are quoted on the Alternative Investment Market (AIM) of the London Stock Exchange (symbol GFM).
The Company's news releases are available on the Company's web site: www.griffinmining.com

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 or visit 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.
 
  END
 
 
DSHFZGMMFZNGMZM