24 Feb Award of Share Options
Xtract Resources Plc
(“Xtract” or the “Company”)
Award of Share Options
Director / PDMR Shareholding
Award of Share Options
The Board of Xtract announces that on 24 February 2021, the Company awarded 24,800,000 new options over ordinary shares (“New Options”). 16,000,000 New Options (representing 2.17 per cent. of the current issued share capital) have been awarded to Directors (other than Peter Moir, Non-executive Director who chaired the Remuneration Committee and who has approved the option award) and a further 8,800,000 New Options (representing 1.20 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 10.00p. The New Options will lapse five years after the date of the award, being 24 July 2026.
The exercise price represents a 61 per cent. premium to the Xtract ordinary share mid-market closing price of 6.20p as at 23 February 2021, and a 83 per cent. premium to the 30-day volume weighted average share price for the 30 trading days ended 23 February 2021.
Further details of the New Options awards are as follows:
| Individual | Number of New Options |
| Directors: | |
| Colin Bird | 10,000,000 |
| Jeremy Read | 1,000,000 |
| Alastair Ford | 1,000,000 |
| Joel Silberstein
|
4,000,000 |
| Other PDMR(s): | |
| Eduard Victor | 2,000,000 |
| Employees: | |
| Other | 6,800,000 |
| Total | 24,800,000 |
A copy of this announcement: www.xtractresources.com
Enquiries:
| Xtract Resources Plc | Colin Bird,
Executive Chairman
|
+44 (0)20 3416 6471 |
| Beaumont Cornish Limited
Nominated Adviser and Joint Broker |
Roland Cornish
Michael Cornish Felicity Geidt |
+44 (0)207628 3369 |
|
Novum Securities Limited Joint Broker |
Jon Bellis Colin Rowbury |
+44 (0)207 399 9427 www.novumsecurities.com |
The following disclosure is made in accordance with Article 19 of the EU Market Abuse Regulation 596/2014.
| 1
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Details of the person discharging managerial responsibilities / person closely associated
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| a)
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Name
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1. Colin Bird
2. Joel Silberstein 3. Alastair Ford 4. Jeremy Read 5. Eduard Victor |
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| 2
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Reason for the notification | |||||||||||||||||||||||||||||||
| a)
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Position/status
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1. Chairman
2. Finance Director 3. Non-Executive Director 4. Non-Executive Director 5. Chief Operating Officer (Non-Board)
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| b)
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Initial notification /Amendment
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Initial Notification | ||||||||||||||||||||||||||||||
| 3
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Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||||||||||||||||||||||||||
| a)
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Name
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Xtract Resources plc | ||||||||||||||||||||||||||||||
| b)
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LEI
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213800A71LZ79EKUNC34 | ||||||||||||||||||||||||||||||
| 4
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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)
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Description of the financial instrument, type of instrument | Options over Ordinary Shares of 0.02p each (“Ordinary Shares”)
|
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| Identification code | ISIN: GB00BYSX2795 | |||||||||||||||||||||||||||||||
| b)
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Nature of the transaction
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Issue of Options over Ordinary Shares | ||||||||||||||||||||||||||||||
| c)
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Price(s) and volume(s) |
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| d)
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Aggregated information | |||||||||||||||||||||||||||||||
| – Aggregated volume | 18,000,000 options over Ordinary Shares | |||||||||||||||||||||||||||||||
| – Price | 18,000,000 exercisable at 10.00p
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| e)
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Date of the transaction
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24 February 2021 | ||||||||||||||||||||||||||||||
| f)
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Place of the transaction
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Outside a trading venue | ||||||||||||||||||||||||||||||
ENDS
END