1st Dec 2016 13:00
1 December 2016
Sirius Minerals Plc
Director/PDMR Dealing & Option Adjustments
Sirius Minerals Plc ("Sirius" or the "Company") has been notified that, further to admission of the Firm Placing and Placing and Open Offer shares to trading on AIM on 28 November 2016 and further to the announcement of 30 November 2016, that Jane Lodge, non-executive director, has acquired 170,953 shares as part of the excess entitlement facility in the Open Offer. As a result Jane Lodge has a beneficial interest in 386,953 ordinary shares which represents 0.009% of the Company's issued share capital.
Share Option Adjustments
The board of directors have approved certain market standard adjustments ("Adjustments") to the Company's outstanding share options in accordance with the terms of the option schemes to reflect the impact of the Open Offer aspect of the Firm Placing and Placing and Open Offer on the Company's existing share options ("Options"). As a result of the Adjustments the number of share options outstanding in the Company has increased from 59,141,234 to 60,855,229 and the average option exercise price has reduced from 34 pence to 33 pence per option.
After the Adjustments the following Directors/PDMRs have the following Options at the following exercise prices:
Name | Role | Options | Exercise Price | Expiry Date |
Chris Fraser | Managing Director & CEO | 10,289,814 10,289,814 | 29.2p 43.7p | 26/9/17 26/9/18 |
Keith Clarke CBE | Non-executive director | 1,852,167 | 29.2p | 22/12/23 |
Lord John Hutton | Non-executive director | 1,852,167 | 29.2p | 29/1/22 |
Thomas Staley | CFO (PDMR) | 1,543,472 1,543,472 | 29.2p 29.2p | 20/1/18 20/1/25 |
Nicholas King | General Counsel (PDMR) | 1,028,981 | 29.2p | 2/12/22 |
Simon Carter | Development Director (PDMR) | 2,572,453 | 34p | 25/10/26 |
The Company's website has been updated to reflect these changes.
Regulatory information
As at the date of this announcement, the Company's issued share capital consists of 4,164,514,405 ordinary shares with voting rights. This figure may be used by shareholders in the Company as the denominator for the calculation by which they will determine if they are required to notify their interest in, or a change of interest in, the share capital of the Company under the Financial Conduct Authority's Disclosure and Transparency Rules.
This announcement contains inside information as defined in Article 7 of the Market Abuse Regulation No. 596/2014 and is disclosed in accordance with the Company's obligations under Article 17 of those Regulations.
For the purposes of MAR and Article 2 of Commission Implementing Regulation (EU) 2016/1055, this announcement is being made on behalf of the Company by Tristan Pottas, Investor Relations Manager.
Director/PDMR Dealing - Further information
The notification below, made in accordance with the requirements of the EU Market Abuse Regulations, provides further detail in respect of the transactions as described at the beginning of this announcement.
1 | Details of the person discharging managerial responsibilities/person closely associated
| |||||
a) | Name
| Jane Lodge | ||||
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
| Sirius Minerals Plc | ||||
b) | LEI
| n/a | ||||
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
| Shares
GB00B0DG3H29
| ||||
b) | Nature of the transaction
| Take up of open offer entitlement | ||||
c) | Price(s) and volume(s)
|
| ||||
d) | Aggregated information
- Aggregated volume
- Price
|
170,953
£0.20
| ||||
e) | Date of the transaction
| 28 November 2016 | ||||
f) | Place of the transaction
| AIM | ||||
For further information, please contact:
Sirius Minerals Plc Investor Relations Manager | Tristan Pottas Email: [email protected] |
Tel: +44 845 524 0247 |
Joint Brokers Liberum Capital Limited (NOMAD) |
Neil Elliot, Clayton Bush, Jill Li |
Tel: +44 20 3100 2222 |
J.P. Morgan Cazenove | Ben Davies, Jamie Riddell | Tel: +44 20 7742 4000 |
WH Ireland | Adrian Hadden | Tel: +44 20 7220 1666 |
Media Enquiries Tavistock | Jos Simson, Mike Bartlett, Emily Fenton | Tel: +44 20 7920 3150 |
About Sirius Minerals Plc
Sirius Minerals Plc is the fertilizer development company focused on the construction and development of its North Yorkshire polyhalite project in the United Kingdom. It believes the Project represents the world's largest high-grade known deposit of polyhalite, a multi-nutrient form of potash containing potassium, sulphur, magnesium and calcium. Incorporated in 2003, Sirius Minerals' shares are traded on the London Stock Exchange's AIM market (AIM: SXX). Further information on the Company can be found at: www.siriusminerals.com.
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