REG - Primorus Investments - Grant of Share Options

Primorus InvestmentsAnnouncement

02/03/2021 07:00

RNS Number : 7787Q
  
Primorus Investments PLC
  
02 March 2021
  
 

Primorus Investments plc
 
("Primorus" or the "Company")
Grant of Share Options
Primorus (AIM: PRIM) announces the award of 12,000,000 share options ("Share Options"). Each Share Option is exercisable over one ordinary share of £0.002 in the capital of the Company (the "Ordinary Shares"). The Share Options represent approximately 8.58 per cent. of the current issued share capital of the Company. On a fully diluted basis, the Share Options represent approximately 7.9 per cent. of the enlarged issued share capital of the Company (assuming the Share Options are exercised in full and no additional Ordinary Shares are issued save for those in connection with such exercise).
The Share Options are exercisable at a price of £0.041 per Ordinary Share (being the mid-market closing price of the Ordinary Shares on 1 March 2021). One-third of the Share Options shall vest when the mid-market closing price of the Ordinary Shares ("Closing Price") reaches £0.06; one-third of the Share Options shall vest when the Closing Price reaches £0.08; and one-third of the Share Options shall vest when the Closing Price reaches £0.10. The Share Options are exercisable at any time, following vesting, prior to (and including) the day falling on the fifth anniversary of grant. If an option holder leaves the Company, such option holder shall retain any vested Share Options but any unvested Share Options shall lapse unless otherwise decided by the Board at its absolute discretion.
The total options granted over Ordinary Shares to Persons Discharging Managerial Responsibilities within the Company (each being a "PDMR") are detailed below.
 




PDMR


Options


Exercise Price


Lapse Date




Rupert Labrum


3,000,000


£0.041


1 March 2026




Hedley Clark


3,000,000


£0.041


1 March 2026




Matthew Beardmore


3,000,000


£0.041


1 March 2026




Simon Holden


3,000,000


£0.041


1 March 2026




 
The information contained within this announcement is deemed by the Company to constitute inside information for the purposes of Article 11 of The Market Abuse (Amendment) (EU Exit) Regulations 2019 (SI 2019/310). Upon publication of this announcement, this inside information is now considered to be in the public domain.
For further information, please contact:
Primorus Investments plc                                       +44 (0) 20 8154 7907
Rupert Labrum
 
Nominated Adviser and Broker
Cairn Financial Advisers LLP                                      +44 (0) 20 7213 0880
Sandy Jamieson / James Caithie
 
 
 
Notification and public disclosure of transactions by persons discharging managerial responsibilities
and persons closely associated with them
 




1


Details of the persons discharging managerial responsibilities / person closely associated
 




a)


Name
 


Rupert Labrum




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
 


Primorus Investments plc




b)


LEI
 


213800XCLCY5I8O3PP36




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
 
 


 
 
Options over ordinary shares of £0.002 each
 
GB00BKTCLJ25




b)


Nature of the transaction


Grant of share options
 




c)


Price(s) and volume(s)
 


 




Price(s)


Volume(s)




Exercise price: £0.041


3,000,000




 




d)


Aggregated information
 
-      Aggregated volume
 
-      Price
 


 
 
 
3,000,000
 
£0.041




e)


Date of transaction
 


1 March 2021




f)


Place of transaction
 


London Stock Exchange




 
 




1


Details of the persons discharging managerial responsibilities / person closely associated
 




a)


Name
 


Hedley Clark




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
 


Primorus Investments plc




b)


LEI
 


213800XCLCY5I8O3PP36




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
 
 


 
 
Options over ordinary shares of £0.002 each
 
GB00BKTCLJ25




b)


Nature of the transaction


Grant of share options
 




c)


Price(s) and volume(s)
 


 




Price(s)


Volume(s)




Exercise price: £0.041


3,000,000




 




d)


Aggregated information
 
-      Aggregated volume
 
-      Price
 


 
 
 
3,000,000
 
£0.041




e)


Date of transaction
 


1 March 2021




f)


Place of transaction
 


London Stock Exchange




 
 




1


Details of the persons discharging managerial responsibilities / person closely associated
 




a)


Name
 


Matthew Beardmore




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
 


Primorus Investments plc




b)


LEI
 


213800XCLCY5I8O3PP36




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
 
 


 
 
Options over ordinary shares of £0.002 each
 
GB00BKTCLJ25




b)


Nature of the transaction


Grant of share options
 




c)


Price(s) and volume(s)
 


 




Price(s)


Volume(s)




Exercise price: £0.041


3,000,000




 




d)


Aggregated information
 
-      Aggregated volume
 
-      Price
 


 
 
 
3,000,000
 
£0.041




e)


Date of transaction
 


1 March 2021




f)


Place of transaction
 


London Stock Exchange




 
 




1


Details of the persons discharging managerial responsibilities / person closely associated
 




a)


Name
 


Simon Holden




2


Reason for the notification
 




a)


Position/Status
 


Company Secretary




b)


Initial notification/ Amendment
 


Initial notification
 




3


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




a)


Name
 


Primorus Investments plc




b)


LEI
 


213800XCLCY5I8O3PP36




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
 
 


 
 
Options over ordinary shares of £0.002 each
 
GB00BKTCLJ25




b)


Nature of the transaction


Grant of share options
 




c)


Price(s) and volume(s)
 


 




Price(s)


Volume(s)




Exercise price: £0.041


3,000,000




 




d)


Aggregated information
 
-      Aggregated volume
 
-      Price
 


 
 
 
3,000,000
 
£0.041




e)


Date of transaction
 


1 March 2021




f)


Place of transaction
 


London Stock Exchange




 

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