18 April
2024
Beowulf Mining plc
("Beowulf"
or the "Company")
Grant of
Options
Beowulf (AIM: BEM; Spotlight: BEO) announces
that the Board has approved the award of options granted under the
Company's Long-Term Incentive Plan ("LTIP") to certain directors
and senior management as follows:
|
|
Position
|
Number of Options
awarded
|
Total number of Options
held
|
|
Ed Bowie
|
Chief Executive Officer
|
50,000,000
|
50,000,000
|
|
Rasmus Blomqvist
|
Managing Director,
Grafintec
|
20,000,000
|
23,500,000
|
|
Johan Röstin
|
Non-Executive Chairman
|
18,000,000
|
18,000,000
|
|
Chris Davies
|
Non-Executive Director
|
9,000,000
|
11,000,000
|
|
Mikael Schauman
|
Non-Executive Director
|
9,000,000
|
9,000,000
|
|
Ismet Krasniqi
|
Non-Executive Director, Vardar
Minerals Limited
|
6,000,000
|
6,000,000
|
|
Other
|
Employees
|
16,000,000*
|
16,750,000
|
Note: the Employee options include an option award to Dmytro
Siergieiev that has been approved by the Board but these options
will only be granted after the start of his employment as Project
Director at Jokkmokk Iron Mines AB on 1 May 2024
The Company's LTIP was established with advice
from a leading independent consultancy specialising in the
planning, design, and implementation of business-driven pay and
reward strategies. The LTIP is designed to retain and incentivise
key employees and Directors.
The options are exercisable at a price of 0.75
pence per share, vest over three years, in three equal proportions,
a third on each subsequent anniversary of the date of grant and are
valid for 10 years from the date of grant.
This award of options is for a total of
128,000,000 ordinary shares of 0.1 pence each in the capital of the
Company, representing approximately 6.6 per cent of the existing
issued share capital. Following the award of the options, there
will be 158,500,000 ordinary shares of 0.1 pence each of the
Company under option to directors, senior management and employees
of the Company, representing 8.2 per cent of the existing issued
share capital of the Company.
Enquiries:
Beowulf Mining plc
Ed Bowie, Chief Executive
Officer
ed.bowie@beowulfmining.com
SP
Angel
(Nominated Adviser & Joint
Broker)
Ewan Leggat / Stuart Gledhill / Adam
Cowl Tel: +44 (0)
20 3470 0470
Alternative Resource Capital
(Joint Broker)
Alex
Wood
Tel: +44 (0) 20 7186 9004
BlytheRay
Tim Blythe / Megan Ray
Tel: +44 (0) 20 7138 3204
Cautionary
Statement
Statements and assumptions made in this
document with respect to the Company's current plans, estimates,
strategies and beliefs, and other statements that are not
historical facts, are forward-looking statements about the future
performance of Beowulf. Forward-looking statements include, but are
not limited to, those using words such as "may", "might", "seeks",
"expects", "anticipates", "estimates", "believes", "projects",
"plans", strategy", "forecast" and similar expressions. These
statements reflect management's expectations and assumptions in
light of currently available information. They are subject to a
number of risks and uncertainties, including, but not limited to ,
(i) changes in the economic, regulatory and political environments
in the countries where Beowulf operates; (ii) changes relating to
the geological information available in respect of the various
projects undertaken; (iii) Beowulf's continued ability to secure
enough financing to carry on its operations as a going concern;
(iv) the success of its potential joint ventures and alliances, if
any; (v) metal prices, particularly as regards iron ore. In the
light of the many risks and uncertainties surrounding any mineral
project at an early stage of its development, the actual results
could differ materially from those presented and forecast in this
document. Beowulf assumes no unconditional obligation to
immediately update any such statements and/or forecast.
|
1
|
Details of the person discharging managerial responsibilities
/ person closely associated
|
|
a)
|
Name
|
1) Ed Bowie
2) Rasmus
Blomqvist
3) Rohan
Rostin
4) Chris
Davies
5) Mikael
Schauman
|
|
2
|
Reason for the notification
|
|
a)
|
Position/status
|
1) CEO
2) Managing Director,
Grafintec
3) Chairman
4) Non-Executive
Director
5) 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
|
Beowulf Mining Plc
|
|
b)
|
LEI
|
213800MV3XGAOASPT433
|
|
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
|
ordinary shares of 0.1p
each
|
|
|
|
|
Identification code
|
GB0033163287
|
|
|
|
|
b)
|
Nature of the transaction
|
Grant of options
|
|
c)
|
Price(s) and volume(s)
|
|
1
|
0.75p
|
50,000,000
|
|
2
|
0.75p
|
20,000,000
|
|
3
|
0.75p
|
18,000,000
|
|
4
|
0.75p
|
9,000,000
|
|
5
|
0.75p
|
9,000,000
|
|
|
d)
|
Aggregated information
|
|
|
|
|
|
- Aggregated volume
|
Not Applicable
|
|
|
|
|
- Price
|
|
|
|
|
|
e)
|
Date of the transaction
|
18 April 2024
|
|
f)
|
Place of the transaction
|
London Stock Exchange /
Spotlight
|