REG - Zinnwald Lithium PLC - Share Incentive Awards and Vesting of RSUs

Zinnwald LithiumAnnouncement

15/01/2024 07:00

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RNS Number : 6120Z  Zinnwald Lithium PLC  15 January 2024

15 January 2024

Zinnwald Lithium plc

 

("Zinnwald Lithium" or the "Company")

 

Issuance of Share Incentive Awards and Vesting of RSUs

 

Zinnwald Lithium plc (AIM: ZNWD), the German focussed lithium development
company, announces the grant of a total of 4,228,475 Restricted Share Units
("RSUs") and 4,350,000 Options under the Company's Long-Term Incentive Plans
relating to performance in 2023, and a total of 4,500,000 Performance Share
Units ("PSUs") relating to performance from 1 October 2020 to 31 December
2023.  The Company also announces the issuance of 1,012,051 new shares in
relation to the vesting of RSUs granted in January 2022.

 

The RSUs being granted to Executive Management under the terms of the RSU
Scheme, approved by shareholders in October 2020, relate to the performance
period that ran from 1 January 2023 to 31 December 2023.   The RSUs will
vest two years from the date of grant, being 15 January 2026, and the related
shares (or cash alternative at the Company's discretion) will be issued on
that date.  The RSUs are being granted to Executive Management on the
following basis:

 

 Name              Role  No of RSUs  Grant Date       Vesting Date
 Anton du Plessis  CEO   2,306,441   15 January 2024  15 January 2026
 Cherif Rifaat     CFO   1,922,034   15 January 2024  15 January 2026
 Total                   4,228,475

 

The Options have been granted to employees, consultants and Directors under
the terms of the Scheme put in place at the time of the Company's original IPO
in 2017. These Options to acquire ordinary shares in the capital of the
Company have been granted at a price of 6.75p being the price at close on 12
January 2024.  Such options vest as to 1/3 on the date of grant and an
additional 1/3 on each of the first and second anniversaries of the date of
grant and are exercisable for a period of five years. The Options are being
granted on the following basis:

 

 Name           Role                    No of Options  Issue Price  Grant Date       Expiry Date
 Jeremy Martin  Non-executive Chairman  350,000        £0.0675      15 January 2024  15 January 2029
 Graham Brown   Non-executive Director  250,000        £0.0675      15 January 2024  15 January 2029
 Peter Secker   Non-executive Director  250,000        £0.0675      15 January 2024  15 January 2029
 Employees and Consultants              3,500,000      £0.0675      15 January 2024  15 January 2029
 Total                                  4,350,000

 

The PSUs being granted to Executive Management under the terms of the PSU
Scheme, approved by shareholders in October 2020, relate to the performance
period that ran from 1 October 2020 to 31 December 2023.   The PSUs will
vest two years from the date of grant, being 15 January 2026.  The PSUs are
being granted to Executive Management on the following basis:

 

 Name              Role  No of PSUs  Grant Date       Vesting Date
 Anton du Plessis  CEO   3,000,000   15 January 2024  15 January 2026
 Cherif Rifaat     CFO   1,500,000   15 January 2024  15 January 2026
 Total                   4,500,000

 

Issue of Equity & Total Voting Rights

The first tranche of 1,909,531 RSUs originally issued in January 2022 have
now reached their vesting date, and in accordance with the rules of the scheme
will vest at a price of 7.11p being the 20 Day VWAP price at close on 12
January 2024.  At its discretion, the Board has elected to pay the net amount
due after tax under these awards in shares rather than cash.  Accordingly,
691,782 shares will be issued to Anton du Plessis and 320,269 shares will be
issued to Cherif Rifaat.

 

Application has been made for the 1,012,051 new ordinary shares to be admitted
to trading on AIM ("Admission").  Admission is expected to occur on or
around 18 January 2024.  These new ordinary shares will rank pari passu with
the existing ordinary shares in issue. Following admission of the new ordinary
shares, there will be 474,536,675 ordinary shares in issue.  This number may
be used by shareholders in the Company as the denominator for the calculations
by which they will determine if they are required to notify their interest in,
or a change in their interest in, the share capital of the Company.

 

On issuance of the Incentive awards and vesting of RSUs, the total number of
RSUs in issue will be 7,635,254, the total number of Options will be
11,000,000 and the total number of PSUs will be 4,500,000.

 

For further information contact:

 

 Anton du Plessis       Zinnwald Lithium plc               info@zinnwaldlithium.com
 David Hart             Allenby Capital Limited            +44 (0) 20 3328 5656

 Dan Dearden-Williams   (Nominated Adviser)
 Mike Seabrook          Oberon Capital                     +44 (0) 20 3179 5344

 Adam Pollock           (Joint Broker)                     +44 (0) 20 3179 5315
 Richard Greenfield     Tamesis Partner LLP                +44 (0) 20 3882 2868

 Charles Bendon         (Co-Broker to the Placing)
 Isabel de Salis        St Brides Partners (Financial PR)  zinnwald@stbridespartners.co.uk

 Paul Dulieu

 

Notes

Zinnwald Lithium plc (EPIC: ZNWD.L) is an AIM quoted, German focused lithium
development company focussed on becoming an important supplier
to Europe's fast-growing battery sector. The Company owns the Zinnwald
Lithium Project in Germany, an advanced development project with attractive
economics and approved mining licence.  Its PEA, published in September 2022
highlighted the positive economics of the Project with a Pre-tax NPV8 of
US$1,605m, IRR of 39.0%, $192m EBITDA and a payback of just 3.3 years.  The
Project is located in the heart of Europe's chemical and automotive
industries and has the potential to be one of Europe's more advanced battery
grade lithium projects.

 

 

 

 1    Details of the person discharging managerial responsibilities / person closely
      associated
 a)   Name                                                         Name              Position
                                                                   Anton du Plessis  CEO
                                                                   Cherif Rifaat     CFO
 2    Reason for the notification
 a)   Position/status                                              See 1a)
 b)   Initial notification /Amendment                              Initial notification

 3    Details of the issuer, emission allowance market participant, auction

    platform, auctioneer or auction monitor

 a)   Name                                                         Zinnwald Lithium plc
 b)   LEI                                                          213800LXW3HPZ7ZSBE37
 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  RSUs in relation to ordinary shares of GBP0.01 each in Zinnwald Lithium plc

                                                            (or cash alternative at the Company's discretion)
      Identification code

                                                                   Identification code (ISIN) for Zinnwald Lithium plc ordinary
                                                                   shares: GB00BFN4GY99
 b)   Nature of the transaction                                    Grant of RSUs

 c)   Price(s) and volume(s)                                       Name               Price(s)   Volume(s)
                                                                   Anton du Plessis  n/a         2,306,441
                                                                   Cherif Rifaat     n/a         1,922,034
 d)   Aggregated information                                       n/a

      - Aggregated volume

      - Price
 e)   Date of the transaction                                      15 January 2024
 f)   Place of the transaction                                     Outside a trading venue
 a)   Description of the financial instrument, type of instrument  PSUs in relation to ordinary shares of GBP0.01 each in Zinnwald Lithium plc

                                                            (or cash alternative at the Company's discretion)

                                                             Identification code (ISIN) for Zinnwald Lithium plc ordinary
      Identification code                                          shares: GB00BFN4GY99
 b)   Nature of the transaction                                    Grant of PSUs

 c)   Price(s) and volume(s)                                       Name               Price(s)   Volume(s)
                                                                   Anton du Plessis  n/a         3,000,000
                                                                   Cherif Rifaat     n/a         1,500,000
 d)   Aggregated information                                       n/a

      - Aggregated volume

      - Price
 e)   Date of the transaction                                      15 January 2024
 f)   Place of the transaction                                     Outside a trading venue
 a)   Description of the financial instrument, type of instrument  Ordinary shares of GBP0.01 each in Zinnwald Lithium plc

      Identification code                                          Identification code (ISIN) for Zinnwald Lithium plc ordinary
                                                                   shares: GB00BFN4GY99
 b)   Nature of the transaction                                    Vesting of RSUs into Ordinary Shares
 c)   Price(s) and volume(s)                                       Name               Price(s)   Volume(s)
                                                                   Anton du Plessis  7.11p       691,782
                                                                   Cherif Rifaat     7.11p       320,269
 d)   Aggregated information

      - Aggregated volume                                          1,012,051

      - Price                                                      7.11p
 e)   Date of the transaction                                      15 January 2024
 f)   Place of the transaction                                     Outside a trading venue

2

Reason for the notification

a)

Position/status

See 1a)

b)

 

Initial notification /Amendment

Initial notification

3

 

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

a)

Name

Zinnwald Lithium plc

b)

LEI

213800LXW3HPZ7ZSBE37

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

RSUs in relation to ordinary shares of GBP0.01 each in Zinnwald Lithium plc
(or cash alternative at the Company's discretion)

 

Identification code (ISIN) for Zinnwald Lithium plc ordinary
shares: GB00BFN4GY99

b)

Nature of the transaction

Grant of RSUs

 

c)

Price(s) and volume(s)

 Name               Price(s)   Volume(s)
 Anton du Plessis  n/a         2,306,441
 Cherif Rifaat     n/a         1,922,034

d)

Aggregated information

- Aggregated volume

- Price

n/a

e)

Date of the transaction

15 January 2024

f)

Place of the transaction

Outside a trading venue

a)

 

Description of the financial instrument, type of instrument

 

Identification code

PSUs in relation to ordinary shares of GBP0.01 each in Zinnwald Lithium plc
(or cash alternative at the Company's discretion)

 Identification code (ISIN) for Zinnwald Lithium plc ordinary
shares: GB00BFN4GY99

b)

Nature of the transaction

Grant of PSUs

 

c)

Price(s) and volume(s)

 Name               Price(s)   Volume(s)
 Anton du Plessis  n/a         3,000,000
 Cherif Rifaat     n/a         1,500,000

d)

Aggregated information

- Aggregated volume

- Price

n/a

e)

Date of the transaction

15 January 2024

f)

Place of the transaction

Outside a trading venue

a)

 

Description of the financial instrument, type of instrument

Identification code

Ordinary shares of GBP0.01 each in Zinnwald Lithium plc

Identification code (ISIN) for Zinnwald Lithium plc ordinary
shares: GB00BFN4GY99

b)

Nature of the transaction

Vesting of RSUs into Ordinary Shares

c)

Price(s) and volume(s)

 Name               Price(s)   Volume(s)
 Anton du Plessis  7.11p       691,782
 Cherif Rifaat     7.11p       320,269

d)

Aggregated information

- Aggregated volume

- Price

 

1,012,051

7.11p

e)

Date of the transaction

15 January 2024

f)

Place of the transaction

Outside a trading venue

 

 1    Details of the person discharging managerial responsibilities / person closely
      associated
 a)   Name                                                         Name           Position
                                                                   Jeremy Martin  Non-Executive Chairman
                                                                   Graham Brown   Non-Executive Director
                                                                   Peter Secker   Non-Executive Director
 2    Reason for the notification
 a)   Position/status                                              See 1a)
 b)   Initial notification /Amendment                              Initial notification

 3    Details of the issuer, emission allowance market participant, auction

    platform, auctioneer or auction monitor

 a)   Name                                                         Zinnwald Lithium plc
 b)   LEI                                                          213800LXW3HPZ7ZSBE37
 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 GBP0.01 each in Zinnwald Lithium plc

      Identification code

                                                                   Identification code (ISIN) for Zinnwald Lithium plc ordinary
                                                                   shares: GB00BFN4GY99
 b)   Nature of the transaction                                    Grant of options over ordinary shares

 c)   Price(s) and volume(s)                                       Name            Price(s)   Volume(s)
                                                                   Jeremy Martin  6.75p       350,000
                                                                   Graham Brown   6.75p       250,000
                                                                   Peter Secker   6.75p       250,000
 d)   Aggregated information                                       n/a

      - Aggregated volume

      - Price
 e)   Date of the transaction                                      15 January 2024
 f)   Place of the transaction                                     Outside a trading venue

2

Reason for the notification

a)

Position/status

See 1a)

b)

 

Initial notification /Amendment

Initial notification

3

 

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

a)

Name

Zinnwald Lithium plc

b)

LEI

213800LXW3HPZ7ZSBE37

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 GBP0.01 each in Zinnwald Lithium plc

 

Identification code (ISIN) for Zinnwald Lithium plc ordinary
shares: GB00BFN4GY99

b)

Nature of the transaction

Grant of options over ordinary shares

 

c)

Price(s) and volume(s)

 Name            Price(s)   Volume(s)
 Jeremy Martin  6.75p       350,000
 Graham Brown   6.75p       250,000
 Peter Secker   6.75p       250,000

d)

Aggregated information

- Aggregated volume

- Price

n/a

e)

Date of the transaction

15 January 2024

f)

Place of the transaction

Outside a trading venue

 

 

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