REG - Xtract Resources plc - Award of share options and settlement shares
04/11/2022 10:45
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RNS Number : 3725F Xtract Resources plc 04 November 2022
For immediate release
4 November 2022
Xtract Resources Plc
("Xtract" or the "Company")
Award of Share Options and Settlement Shares
Director / PDMR Shareholding
Award of Share Options
The Board of Xtract announces that on 3 November 2022, the Company awarded
8,000,000 new options (representing 0.94 per cent. of the current issued share
capital) to Directors and a further 8,875,000 new options (representing 1.04
per cent. of the current issued share capital) have been awarded to employees,
consultants and officers of the Company.
The new options vest and are exercisable immediately on award, with an
exercise price of 5.00p per new Ordinary Share. The new options will lapse
five years after the date of the award, being 3 November 2027. The exercise
price represents a 63 per cent. premium to the mid-market closing price of
3.075p of the Ordinary Shares as at 2 November 2022, and a 55 per cent.
premium to the 30-day volume weighted average share price for the 30 trading
days ended 30 October 2022. Further details of the new options awards are as
follows:
Individual Number of new options
Directors:
Colin Bird 5,000,000
Kjeld Thygesen 1,000,000
Joel Silberstein 2,000,000
Other PDMR(s):
Eduard Victor 1,000,000
Employees:
Other 7,875,000
Total 16,875,000
Issue of Settlement Shares
The Company has also today agreed to issue in aggregate 5,362,229 new Ordinary
Shares in settlement of £173,200 of accrued outstanding remuneration in
relation to 2021, due to certain Directors and employees of the Company to
preserve the Company's cash resources ("Settlement Shares"). The Settlement
Shares have been issued at a price of 3.23p per new Ordinary Share. The
Settlement Shares issued to Directors and PDMRs are as follows:
Director Accrued fees to be settled in New Ordinary Shares Issue price Settlement Shares issued Total Shareholding following the issue of the Settlement Shares Interest in the enlarged issued share capital
Colin Bird £70,000 3.23p 2,167,183 16,754,149 1.97%
Joel Silberstein £23,200 3.23p 718,266 718,266 0.08%
PDMR
Eduard Victor £40,000 3.23p 1,238,390 1,238,390 0.15%
The Company has also agreed to settle £20,000 owed to a corporate creditor
through the issue of a further 619,195 new Ordinary Shares at an issue price
of 3.23p per new Ordinary Share ("Creditor Settlement Shares").
Application will be made for admission of the Settlement Shares and the
Creditor Settlement Shares (together the "New Shares"), in aggregate amounting
to 5,981,424 New Shares representing 0.70% of the current issued share
capital, to trading on AIM ("Admission") and Admission is expected to occur on
or about 10 November 2022. The New Shares will rank pari passu in all
respects with the Company's existing issued ordinary shares.
Total Voting Rights
On Admission, the Company's issued share capital consists
of 856,375,115 ordinary shares of 0.02p each with voting rights ("Ordinary
Shares"). The Company does not hold any Ordinary Shares in Treasury.
Therefore, the total number of Ordinary Shares in the Company with voting
rights is 856,375,115. The above figure of 856,375,115 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 under the FCA's Disclosure and Transparency
Rules.
A copy of this announcement: www.xtractresources.com
(http://www.xtractresources.com)
Enquiries:
Xtract Resources Plc Colin Bird, +44 (0)20 3416 6471
Executive Chairman www.xtractresources.com (http://www.xtractresources.com)
Beaumont Cornish Limited Roland Cornish +44 (0)207628 3369
Nominated Adviser and Joint Broker Michael Cornish www.beaumontcornish.co.uk (http://www.beaumontcornish.co.uk)
Felicity Geidt
Novum Securities Limited Jon Bellis +44 (0)207 399 9427
Joint Broker Colin Rowbury www.novumsecurities.com
The following disclosure is made in accordance with Article 19 of the EU
Market Abuse Regulation 596/2014.
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name 1. Colin Bird
2. Joel Silberstein
3. Kjeld Thygesen
4. Eduard Victor
2 Reason for the notification
a) Position/status 1. Chairman
2. Finance Director
3. Non-Executive Director
4. Chief Operating Officer (Non-Board)
b) Initial notification /Amendment Initial Notification
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name Xtract Resources plc
b) LEI 213800A71LZ79EKUNC34
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 Options over Ordinary Shares of 0.02p each ("Ordinary Shares")
Identification code ISIN: GB00BYSX2795
b) Nature of the transaction Issue of Options over Ordinary Shares
c) Price(s) and volume(s)
Director Price payable on exercise of option Volume(s)
Colin Bird P 5.00 5,000,000
Joel Silberstein P 5.00 2,000,000
Kjeld Thygesen p 5.00 1,000,000
Eduard Victor p 5.00 1,000,000
d) Aggregated information
- Aggregated volume 9,000,000 options over Ordinary Shares
- Price 9,000,000 exercisable at 5.00p
e) Date of the transaction 3 November 2022
f) Place of the transaction Outside a trading venue
d)
Aggregated information
- Aggregated volume
9,000,000 options over Ordinary Shares
- Price
9,000,000 exercisable at 5.00p
e)
Date of the transaction
3 November 2022
f)
Place of the transaction
Outside a trading venue
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name 1. Colin Bird
2. Joel Silberstein
3. Eduard Victor
2 Reason for the notification
a) Position/status 1. Chairman
2. Finance Director
3. Chief Operating Officer (Non-Board)
b) Initial notification /Amendment Initial Notification
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name Xtract Resources plc
b) LEI 213800A71LZ79EKUNC34
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 0.02p each ("Ordinary Shares")
Identification code ISIN: GB00BYSX2795
b) Nature of the transaction Issue of Ordinary Shares
c) Price(s) and volume(s)
Director Price payable on exercise of option Volume(s)
Colin Bird P 3.23 2,167,183
Joel Silberstein P 3.23 718,266
Eduard Victor p 3.23 1,238,390
d) Aggregated information
- Aggregated volume 4,123,839 Ordinary Shares
- Price 4,123,839 Ordinary Shares at 3.23p
e) Date of the transaction 3 November 2022
f) Place of the transaction Outside a trading venue
d)
Aggregated information
- Aggregated volume
4,123,839 Ordinary Shares
- Price
4,123,839 Ordinary Shares at 3.23p
e)
Date of the transaction
3 November 2022
f)
Place of the transaction
Outside a trading venue
ENDS
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