TIDMMAFL
RNS Number : 5013O
Mineral & Financial Invest. Limited
10 June 2022
MINERAL & FINANCIAL INVESTMENTS LIMITED
Grant of Options and Restricted Share Units
GEORGE TOWN, CAYMAN ISLANDS, June 10, 2022 - Mineral and
Financial Investments Limited (LSE-AIM: MAFL) ("M&FI" or the
"Company") is an London Stock Exchange AIM quoted Investment
company focused on natural resource investments with an focus on
mining and mineral sector by providing investment, financing and
advisory services to its investee companies, announces the grant of
options and Restricted Share Units ("RSU") to certain officers,
directors, and consultants under its 2021 Option Scheme (the "2021
Option Scheme") and the 2021 Restricted Share Unit Scheme ("2021
RSU Scheme"). Full details are set out in the Company's 2021 Annual
General Meeting ("AGM") documentation and were approved by the
shareholders of the Company at the past AGM.
Issue of Options
The Company confirms that 2,350,000 options were granted to
certain directors and consultants today in recognition of both past
performance and to align shareholder and executive management
interests. All options are exercisable at a price of 13.5p per
ordinary share, which represents a 15% premium to the closing mid-
market price on 9 June 2022; and vest in three tranches being (i) a
third which vest today ("Tranche 1 Options"); a third which vest of
the date being 12 months from the date of issue ("Tranche 2
Options"); and a third which vest of the date being 24 months from
the date of issue ("Tranche 3 Options").
The options can be exercised at any time from the date of
vesting for a period of 5 years whilst the recipient remains an
employee of the company.
The details of the PDMR's receiving options are set out
below.
Name of PDMR Number Number Number Previous Total
of Tranche of Tranche of Tranche Options Options
1 Options 2 Options 3 Options held held
Jacques Vaillancourt (CEO) 333,333 333,333 333,334 Nil 1,000,000
------------ ------------ ------------ --------- ----------
James Lesser (NED) 166,666 166,666 166,668 Nil 500,000
------------ ------------ ------------ --------- ----------
Miles Nicholson (Company
Secretary) 83,333 83,333 833,334 Nil 250,000
------------ ------------ ------------ --------- ----------
Issue of RSUs
At the same time the Company has issued RSU's over 1,150,000
ordinary shares to certain directors and employees. The RSU's will
have a 5-year term with a reference market price of 11.75p per
Share being the share price on 9 June 2022. The effect of the RSU
is that it is a future claim to draw down the underlying shares for
the recipient which allows them to manage their personal finances
accordingly. The PDMR's who received the RSU's are as follows:
Name of PDMR Number Number of Total percentage
of RSUs Ordinary interest in the
now held Shares currently Company's shares
held in the (of both RSUs
Company and Ordinary
Shares)
Mark Brown (Chairman) 275,000 Nil 0.8%
---------- ------------------ ------------------
Jacques Vaillancourt (CEO) 400,000 6,664,000* 19.5%
---------- ------------------ ------------------
Sean Keenan (NED) 275,000 100,000 1.0%
---------- ------------------ ------------------
James Lesser (NED) 200,000 223,880 1.2%
---------- ------------------ ------------------
*shares held by Mount Everest Finance SA, a company wholly owned
and controlled by Jacques Vaillancourt
Summary
The number of shares the Company can grant under the 2021 Option
Scheme and the 2021 RSU Scheme are limited to a maximum number of
underlying shares of 7.5% for each scheme. The total number of
Option Grants represent 6.69% of the number of basic shares
outstanding, and the shares associated with the RSU grants
represent 3.27% of the basic number of shares outstanding,
representing 9.96% of the total basic shares outstanding. The
Directors note that this is the first option grant made in over 5
years.
FOR MORE INFORMATION:
Jacques Vaillancourt, Mineral & Financial Investments Ltd. +44 7 802 268 247
Katy Mitchell and Ben Good, WH Ireland Limited +44 207 220 1666
Jon Belliss, Novum Securities Limited +44 207 399 9400
The notifications set out below are provided in accordance with
the requirements of the Market Abuse Regulation.
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name: Jacques Vaillancourt
----------------------------------------- ----------------------------------------------
2 Reason for the notification
-----------------------------------------------------------------------------------------
a) Position/status: President & CEO
----------------------------------------- ----------------------------------------------
b) Initial notification Initial
/Amendment:
----------------------------------------- ----------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-----------------------------------------------------------------------------------------
a) Name: Mineral and Financial Investments Limited
----------------------------------------- ----------------------------------------------
b) LEI: 213800XJN3E3OTYDCH82
----------------------------------------- ----------------------------------------------
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 Ordinary shares
instrument, type of instrument:
Identification code: KYG6181G1055
b) Nature of the transaction Grant of options
----------------------------------------- ----------------------------------------------
c) Price(s) and volume(s)
-------------------- ---------------------
Price(s) Volume(s)
-------------------- ---------------------
13.5p 1,000,000
-------------------- ---------------------
d) Aggregated information
- Aggregated volume N/A
- Price
e) Date of the transaction 10 June 2022
----------------------------------------- ----------------------------------------------
f) Place of the transaction Outside a trading venue
----------------------------------------- ----------------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name: James Lesser
----------------------------------------- ----------------------------------------------
2 Reason for the notification
-----------------------------------------------------------------------------------------
a) Position/status: Non-Executive Director
----------------------------------------- ----------------------------------------------
b) Initial notification Initial
/Amendment:
----------------------------------------- ----------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-----------------------------------------------------------------------------------------
a) Name: Mineral and Financial Investments Limited
----------------------------------------- ----------------------------------------------
b) LEI: 213800XJN3E3OTYDCH82
----------------------------------------- ----------------------------------------------
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 Ordinary shares
instrument, type of instrument:
Identification code: KYG6181G1055
b) Nature of the transaction Grant of options
----------------------------------------- ----------------------------------------------
c) Price(s) and volume(s)
-------------------- ---------------------
Price(s) Volume(s)
-------------------- ---------------------
13.5p 500,000
-------------------- ---------------------
d) Aggregated information
- Aggregated volume N/A
- Price
e) Date of the transaction 10 June 2022
----------------------------------------- ----------------------------------------------
f) Place of the transaction Outside a trading venue
----------------------------------------- ----------------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name: Miles Nicholson CA
----------------------------------------- ----------------------------------------------------
2 Reason for the notification
-----------------------------------------------------------------------------------------------
a) Position/status: Corporate Secretary & Financial Administration
----------------------------------------- ----------------------------------------------------
b) Initial notification Initial
/Amendment:
----------------------------------------- ----------------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-----------------------------------------------------------------------------------------------
a) Name: Mineral and Financial Investments Limited
----------------------------------------- ----------------------------------------------------
b) LEI: 213800XJN3E3OTYDCH82
----------------------------------------- ----------------------------------------------------
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 Ordinary shares
instrument, type of instrument:
Identification code: KYG6181G1055
b) Nature of the transaction Grant of options
----------------------------------------- ----------------------------------------------------
c) Price(s) and volume(s)
----------------------- ------------------------
Price(s) Volume(s)
----------------------- ------------------------
13.5p 250,000
----------------------- ------------------------
d) Aggregated information
- Aggregated volume N/A
- Price
e) Date of the transaction 10 June 2022
----------------------------------------- ----------------------------------------------------
f) Place of the transaction Outside a trading venue
----------------------------------------- ----------------------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name: Mark T. Brown
----------------------------------------- ----------------------------------------------
2 Reason for the notification
-----------------------------------------------------------------------------------------
a) Position/status: Non-Executive Chairman
----------------------------------------- ----------------------------------------------
b) Initial notification Initial
/Amendment:
----------------------------------------- ----------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-----------------------------------------------------------------------------------------
a) Name: Mineral and Financial Investments Limited
----------------------------------------- ----------------------------------------------
b) LEI: 213800XJN3E3OTYDCH82
----------------------------------------- ----------------------------------------------
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 Ordinary shares
instrument, type of instrument:
Identification code: KYG6181G1055
b) Nature of the transaction Grant of restricted stock units
----------------------------------------- ----------------------------------------------
c) Price(s) and volume(s)
-------------------- ---------------------
Price(s) Volume(s)
-------------------- ---------------------
11.75p 275,000
-------------------- ---------------------
d) Aggregated information
- Aggregated volume N/A
- Price
e) Date of the transaction 10 June 2022
----------------------------------------- ----------------------------------------------
f) Place of the transaction Outside a trading venue
----------------------------------------- ----------------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name: Jacques Vaillancourt
----------------------------------------- ----------------------------------------------
2 Reason for the notification
-----------------------------------------------------------------------------------------
a) Position/status: President & CEO
----------------------------------------- ----------------------------------------------
b) Initial notification Initial
/Amendment:
----------------------------------------- ----------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-----------------------------------------------------------------------------------------
a) Name: Mineral and Financial Investments Limited
----------------------------------------- ----------------------------------------------
b) LEI: 213800XJN3E3OTYDCH82
----------------------------------------- ----------------------------------------------
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 Ordinary shares
instrument, type of instrument:
Identification code: KYG6181G1055
b) Nature of the transaction Grant of restricted stock units
----------------------------------------- ----------------------------------------------
c) Price(s) and volume(s)
-------------------- ---------------------
Price(s) Volume(s)
-------------------- ---------------------
11.75p 400,000
-------------------- ---------------------
d) Aggregated information
- Aggregated volume N/A
- Price
e) Date of the transaction 10 June 2022
----------------------------------------- ----------------------------------------------
f) Place of the transaction Outside a trading venue
----------------------------------------- ----------------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name: Sean Keenan
----------------------------------------- ----------------------------------------------
2 Reason for the notification
-----------------------------------------------------------------------------------------
a) Position/status: Non-Executive Director
----------------------------------------- ----------------------------------------------
b) Initial notification Initial
/Amendment:
----------------------------------------- ----------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-----------------------------------------------------------------------------------------
a) Name: Mineral and Financial Investments Limited
----------------------------------------- ----------------------------------------------
b) LEI: 213800XJN3E3OTYDCH82
----------------------------------------- ----------------------------------------------
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 Ordinary shares
instrument, type of instrument:
Identification code: KYG6181G1055
b) Nature of the transaction Grant of restricted stock units
----------------------------------------- ----------------------------------------------
c) Price(s) and volume(s)
-------------------- ---------------------
Price(s) Volume(s)
-------------------- ---------------------
11.75p 275,000
-------------------- ---------------------
d) Aggregated information
- Aggregated volume N/A
- Price
e) Date of the transaction 10 June 2022
----------------------------------------- ----------------------------------------------
f) Place of the transaction Outside a trading venue
----------------------------------------- ----------------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name: James Lesser
----------------------------------------- ----------------------------------------------
2 Reason for the notification
-----------------------------------------------------------------------------------------
a) Position/status: Non-Executive Director
----------------------------------------- ----------------------------------------------
b) Initial notification Initial
/Amendment:
----------------------------------------- ----------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-----------------------------------------------------------------------------------------
a) Name: Mineral and Financial Investments Limited
----------------------------------------- ----------------------------------------------
b) LEI: 213800XJN3E3OTYDCH82
----------------------------------------- ----------------------------------------------
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 Ordinary shares
instrument, type of instrument:
Identification code: KYG6181G1055
b) Nature of the transaction Grant of options
----------------------------------------- ----------------------------------------------
c) Price(s) and volume(s)
-------------------- ---------------------
Price(s) Volume(s)
-------------------- ---------------------
11.75p 200,000
-------------------- ---------------------
d) Aggregated information
- Aggregated volume N/A
- Price
e) Date of the transaction 10 June 2022
----------------------------------------- ----------------------------------------------
f) Place of the transaction Outside a trading venue
----------------------------------------- ----------------------------------------------
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END
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