Award of Share Options

RNS Number : 2475Q
Xtract Resources plc
24 February 2021

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
Colin Bird 10,000,000
Jeremy Read 1,000,000
Alastair Ford 1,000,000
Joel Silberstein


Other PDMR(s):  
Eduard Victor 2,000,000
Other 6,800,000
Total 24,800,000





A copy of this announcement:



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



The following disclosure is made in accordance with Article 19 of the EU Market Abuse Regulation 596/2014.



Details of the person discharging managerial responsibilities / person closely associated







1.    Colin Bird

2.    Joel Silberstein

3.    Alastair Ford

4.    Jeremy Read

5.    Eduard Victor



Reason for the notification





1. Chairman

2. Finance Director

3. Non-Executive Director

4. Non-Executive Director

5. Chief Operating Officer (Non-Board)




Initial notification /Amendment



Initial Notification


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





Xtract Resources plc







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


Description of the financial instrument, type of instrument Options over Ordinary Shares of 0.02p each (“Ordinary Shares”)


Identification code ISIN: GB00BYSX2795


Nature of the transaction


Issue of Options over Ordinary Shares


Price(s) and volume(s)    

Director Price payable on exercise of option Volume(s)
Colin Bird P 10.00 10,000,000
Joel Silberstein P 10.00 4,000,000
Alastair Ford p 10.00 1,000,000
Jeremy Read p 10.00 1,000,000
Eduard Victor p 10.00 2,000,000










Aggregated information  
– Aggregated volume 18,000,000 options over Ordinary Shares
– Price 18,000,000 exercisable at 10.00p




Date of the transaction


24 February 2021


Place of the transaction


Outside a trading venue



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