23rd May 2018 15:03
23 May 2018
Alexander Mining plc
("Alexander" or "the Company")
Grant of Share Options
In the best interests of Alexander and its shareholders, the Board has a policy of incentivising and retaining its valued employees, directors and consultants and, to this end, the Company has a share option plan in place. In order to assess whether the existing share options are consistent with their purpose of aligning stakeholders to the success of the business, the Company's Remuneration Committee (the "Committee") has recently conducted a review of the existing share options. As a result of this review, the Committee has recommended that in order to continue to provide incentivisation and reward for performance, there should be an additional grant of new share options.
Accordingly the Board has approved the grant of an additional 94,000,000 new share options ("New Share Options") at an exercise price of 0.15 pence ("Exercise Price") to directors, employees and consultants.
The Exercise Price of the New Share Options represents a 20 per cent. premium to the closing mid-market 90 day simple moving average on 22 May 2018, being the final business day prior to the Board approval. The New Share Options will vest from the date of the grant (being 23 May 2018) and will expire on 28 July 2026.
Details of the share options granted to directors of the Company are as follows:
Director | New Share Options granted at 0.15p | ||
Martin Rosser, CEO | 24,000,000 | ||
Alan Clegg, Non-executive Director | 24,000,000 | ||
James Bunyan, Non-executive Director | 20,000,000 |
As a result of the above grant, the Company has the following options in place for directors, employees and consultants.
Number of options | Exercise price |
94,000,000 | 0.15p per share |
43,300,000 | 0.22p per share |
12,900,000 | 4.92p per share |
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ENDS
Enquiries
Martin Rosser Chief Executive Mobile: +44 (0) 7770 865 341
| Alan Clegg Non-Executive Chairman Mobile: +90 543 533 0665 |
Alexander Mining plc Tel: +44 (0) 20 7078 9566 Email: [email protected] Website: www.alexandermining.com |
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Northland Capital Partners Limited Matthew Johnson / Dugald J Carlean (Corporate Finance) John Howes (Corporate Broking) Tel: +44 (0) 20 3861 6625
Turner Pope Investments (TPI) Ltd Andy Thacker Tel: +44 (0) 20 3621 4120 |
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Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them:
1 | Details of the person discharging managerial responsibilities/person closely associated | ||
a) | Name | 1. Martin Rosser 2. Alan Clegg 3. Jim Bunyan 4. John Getty | |
2 | Reason for the notification | ||
a) | Position/status | 1. Chief Executive 2. Non-Executive Director 3. Non-Executive Director 4. Consultant/Company Secretary
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b) | Initial notification /Amendment | Initial Notification | |
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
a) | Name | Alexander Mining plc | |
b) | Legal Entity Identifier |
2138003SZQSPC16PLX94 | |
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 0.1p each
GB00B06K1665
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b) | Nature of the transaction | Grant of Options | |
c) | Currency | GBP | |
d) | Price(s) and volume(s) | Price(s) | Volume(s) |
Exercise price 0.15p | 1. 24,000,000 2. 24,000,000 3. 20,000,000 4. 10,000,000
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e) | Aggregated information - Aggregated volume - Price - Aggregated total |
NA | |
f) | Date of the transaction | 23 May 2018 | |
g) | Place of the transaction | Outside a trading venue | |
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