Jangada Mines PLC Award of Share Options (1227W)
09 Dicembre 2019 - 08:00AM
UK Regulatory
TIDMJAN
RNS Number : 1227W
Jangada Mines PLC
09 December 2019
Jangada Mines plc / EPIC: JAN.L / Market: AIM / Sector:
Mining
9 December 2019
Jangada Mines plc
('Jangada' or the 'Company')
Award of Share Options
Jangada Mines plc, a natural resources company, notes its
Remuneration Committee has agreed to the following share option
awards over ordinary shares of GBP0.0004 each in the Company
("Ordinary Shares") in order to motivate and retain certain
existing Directors, employees and consultants of the Company:
-- 7,500,000 share options, in aggregate, to be granted to two
of the Directors (Louis Castro and Nick Von Schirnding), and a
consultant of the Company (the "Director/Consultant Options"),
pursuant to the Jangada plc Share Option Scheme (the "Scheme");
and
-- 1,500,000 share options, in aggregate, to be granted to
certain mid-level employees of the Company, pursuant to the
Scheme.
All options granted have an exercise price of GBP0.02 per share
option, which is an approximate 14 per cent. premium to the closing
mid-market price of an Ordinary Share on 6 December 2019, and an
expiry date of 31 December 2024.
As part of the award of the Director/Consultant Options, all of
the individuals concerned, together with the other Directors of the
Company who not receiving new share options, are surrendering their
existing holdings of share options, which total, in aggregate,
8,000,000 share options. These share options were awarded at the
time of the Company's IPO on AIM in June 2017, had an exercise
price of 5 pence per share option, and an expiry date of 31
December 2019. All other options currently outstanding in the
Company, which total, in aggregate, 7,250,000, were on the same
terms and are therefore expected to expire unexercised on 31
December 2019.
Following the issue of the abovementioned 9,000,000 share
options, and the surrender of the Director/Consultant Options, the
share options held by the other members of the Board, and the
expected expiry unexercised of all other outstanding options, the
Company will have in issue a total of 9,000,000 share options,
which equates to approximately 4% of its existing share capital
being under option.
Breakdown of Ordinary Share holding and share options issued to
Directors:
Director/Consultant
Options granted (and
Holding of total share option
Director Ordinary Shares holding)
------------------------- ------------------------------------- ------------------------------
Brian McMaster 53,844,467 -
Luis Azevedo 52,666,667 -
Nicholas von Schirnding - 3,000,000
Louis Castro - 3,000,000
ENDS
For further information please visit www.jangadamines.com or
contact:
Jangada Mines plc Brian McMaster (Chairman) Tel: +44 (0) 20 7317
6629
Strand Hanson Limited James Spinney Tel: +44 (0)20 7409
(Nominated & Financial Ritchie Balmer 3494
Adviser) Jack Botros
Brandon Hill Capital Jonathan Evans Tel: +44 (0)20 3463
(Broker) Oliver Stansfield 5000
St Brides Partners Isabel de Salis Tel: +44 (0)20 7236
Ltd David Penson 1177
(Financial PR)
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END
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