REG - Griffin Mining Ld - ISSUE OF SHARES

Griffin MiningAnnouncement

29/03/2023 12:45

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RNS Number : 6465U  Griffin Mining Ld  29 March 2023

 

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 (mailto:griffin@griffinmining.com)

 

 

issue of Shares Pursuant to the Company Share Incentive Plan

 

29(th) March 2023

 

 

Griffin Mining Limited ("Griffin" or the "Company") is pleased to announce,
pursuant to the announcement of 30(th) December 2022, the adoption and
implementation of the proposed Company Share Incentive Plan (the "Plan"), to
generally retain vital key Company personnel, in particular, Mladen Ninkov.

 

In the announcement of the 30(th) December 2022 it was estimated that up to 10
million new fully paid new Ordinary Shares could be issued under the Plan, in
fact, only 7,805,000 shares will be issued under the terms of the Plan.

 

The new Ordinary Shares issued are subject to certain contractual terms
including that the shares issued will not be sold or otherwise transferred or
disposed of before 31(st) December 2024 except in the event of a transaction
occurring with the Company, and that the shares issued will be returned in the
event of malus and returned pro rata upon leaving the employment of the
Company or its subsidiaries before 31(st) December 2024.

 

Application will be made for the new ordinary shares, which will rank pari
passu with the existing ordinary shares of the Company, to be admitted to
trading on AIM ("Admission"). It is expected that Admission will occur on or
around 4(th) April 2023.

 

Following Admission, the issued share capital of the Company will consist of
192,828,420 ordinary shares. The Company holds 939,799 ordinary shares in the
Company in treasury. The aforementioned 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 change of their interest in, the
Company, under the Financial Conduct Authorities Disclosure and Transparency
Rules.

 

Following Admission of the shares to trading on AIM the following persons
holding management responsibility will be interested in Ordinary Shares in the
Company.

 

                                                                                Number of shares issued pursuant to the Company Share Incentive Plan  Resulting total number of shares owned  % of enlarged issued Share Capital
 Mladen Ninkov (Chairman - Griffin)                                             33,001                                                                6,033,001                               3.1
 John Steel (Chief Operating Officer - Griffin)                                 0                                                                     250,000                                 0.1
 Shengchang Jin (Deputy Chairman & Deputy  General Manager  - Subsidiary        0                                                                     250,000
 Company)

                                                                                                                                                                                              0.1

 

 

About Griffin Mining Limited

 

Griffin Mining Limited's shares are quoted on the Alternative Investment
Market (AIM) of the London Stock Exchange (symbol GFM). Griffin Mining Limited
owns and operates through its 88.8% owned Joint Venture in China the
Caijiaying Zinc Gold Mine, a profitable mine producing zinc, gold, silver, and
lead metals in concentrates. For more information, please visit the Company's
website griffinmining.com.

 

Further information

 

Griffin Mining Limited

Mladen Ninkov -
Chairman
Telephone: +44(0)20 7629 7772

Roger Goodwin - Finance Director

 

Panmure Gordon (UK)
Limited
Telephone: +44 (0)20 7886 2500

             John Prior

             Dougie McLeod

 

Berenberg
 
Telephone: +44(0)20 3207 7800

                Matthew Armitt

Jennifer Wyllie

Deltir Elezi

 

BlytheRay

                Tim
Blythe
Telephone: +44(0)20 7138 3205

 

This announcement contains inside information for the purposes of Article 7 of
the Market Abuse Regulation (EU) No. 596/2014 as it forms part of UK domestic
law by virtue of the European Union (Withdrawal) Act 2018 ("MAR").

 

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