4th Jun 2018 17:01
Stratex International Plc
('Stratex' or 'the Company')
Issue of Share Options
Stratex, the AIM-quoted gold-focused exploration and development company in Turkey and Africa announces that the Company's remuneration committee has today granted options to its newly-appointed Chief Financial Officer Bob Smeeton (Announcement dated 30 May 2018), pursuant to the terms of his service agreement.
Further Details
Under the terms of his service agreement, Bob Smeeton, appointed today as the Company's CFO, has been granted options over 2,000,000 Ordinary Shares in the Company ('the Options') as part of his remuneration. The Options vest over a three-year period and expire after ten years. In aggregate the award of Options is equivalent to 0.43% of the current issued share capital of the Company.
The Options have an exercise price of 0.62 pence, being the closing market price on 1 June 2018. The Options are not subject to performance conditions.
Following the award of these options, Bob Smeeton's interest in the Company is as follows:
New options issued | Total unexercised options held following issue | Shares held | |
Bob Smeeton | 2,000,000 | 2,000,000 | nil |
** ENDS **
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Following the publication of this announcement, this inside information is now considered to be in the public domain.
For further information please visit www.stratexinternational.com, @StratexPLC on Twitter,
or contact:
Stratex International Plc | Tel: +44 (0)20 830 9650 |
Tim Livesey / Claire Bay | |
Camarco (IR/PR Contact) | Tel: +44 (0)20 3757 4980 |
Gordon Poole / Nick Hennis / Monique Perks | |
Grant Thornton UK LLP | Tel: +44 (0)20 7383 5100 |
Samantha Harrison | |
Hannam & Partners | Tel: +44 (0)20 7907 8500 |
Neil Passmore / Andrew Chubb | |
Notes to Editors:
Since listing in 2006, Stratex has discovered more than 2.2 million ounces of gold and 7.09 million ounces of silver, as well as 186,000 tonnes of copper. The Company owns an exciting exploration project in Senegal on which it has signed an option earn-in agreement with IAMGOLD and 14.87% of a copper-gold project at feasibility stage in Turkey, which will likely default to a 1.2% (post-Turkish tax) royalty position within the next 3 months. The Company also has significant interests in Thani Stratex Resources Ltd and Tembo Gold Corp. for their exploration projects in Djibouti and Egypt, and Tanzania respectively. The Company is currently pursuing value-accretive opportunities within its existing portfolio as well as identifying new value-appropriate projects in Africa and Europe.
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
|
Robert Smeeton | |||
2
| Reason for the notification
| ||||
a)
| Position/status
| Chief Financial Officer | |||
b)
| Initial notification /Amendment
| Initial notification | |||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| ||||
a)
| Name
| Stratex International PLC | |||
b)
| LEI
| 213800X32GJR5AGAR511 | |||
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 0.1 pence each in the capital of the Company
| |||
Identification code | Ordinary share ISIN: GB00B0T29327 | ||||
b)
| Nature of the transaction
| Grant of options over ordinary shares in the capital of the Company under the Company's EMI option scheme with an exercise price of 0.62p each | |||
c)
| Price(s) and volume(s) | ||||
Price(s) | Volume(s) | ||||
0 | 2,000,000 | ||||
d)
| Aggregated information | ||||
- Aggregated volume | n/a | ||||
- Price | |||||
e)
| Date of the transaction
| 4th June 2018 | |||
f)
| Place of the transaction
| Outside a trading venue | |||
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Oriole Resources