TIDMXTR
RNS Number : 3725F
Xtract Resources plc
04 November 2022
For immediate release
4 November 2022
Xtract Resources Plc
("Xtract" or the "Company")
Award of Share Options and Settlement Shares
Director / PDMR Shareholding
Award of Share Options
The Board of Xtract announces that on 3 November 2022, the
Company awarded 8,000,000 new options (representing 0.94 per cent.
of the current issued share capital) to Directors and a further
8,875,000 new options (representing 1.04 per cent. of the current
issued share capital) have been awarded to employees, consultants
and officers of the Company.
The new options vest and are exercisable immediately on award,
with an exercise price of 5.00p per new Ordinary Share. The new
options will lapse five years after the date of the award, being 3
November 2027. The exercise price represents a 63 per cent. premium
to the mid-market closing price of 3.075p of the Ordinary Shares as
at 2 November 2022, and a 55 per cent. premium to the 30-day volume
weighted average share price for the 30 trading days ended 30
October 2022. Further details of the new options awards are as
follows:
Number of
Individual new options
----------------- ------------
Directors:
Colin Bird 5,000,000
Kjeld Thygesen 1,000,000
Joel Silberstein 2,000,000
Other PDMR(s):
Eduard Victor 1,000,000
Employees:
Other 7,875,000
Total 16,875,000
------------
Issue of Settlement Shares
The Company has also today agreed to issue in aggregate
5,362,229 new Ordinary Shares in settlement of GBP173,200 of
accrued outstanding remuneration in relation to 2021, due to
certain Directors and employees of the Company to preserve the
Company's cash resources ("Settlement Shares"). The Settlement
Shares have been issued at a price of 3.23p per new Ordinary Share.
The Settlement Shares issued to Directors and PDMRs are as
follows:
Total Shareholding
Accrued fees following the Interest
to be settled issue of the in the enlarged
in New Ordinary Issue Settlement Settlement issued share
Director Shares price Shares issued Shares capital
Colin Bird GBP70,000 3.23p 2,167,183 16,754,149 1.97%
----------------- ------ -------------- ------------------ ----------------
Joel Silberstein GBP23,200 3.23p 718,266 718,266 0.08%
----------------- ------ -------------- ------------------ ----------------
PDMR
----------------- ------ -------------- ------------------ ----------------
Eduard Victor GBP40,000 3.23p 1,238,390 1,238,390 0.15%
----------------- ------ -------------- ------------------ ----------------
The Company has also agreed to settle GBP20,000 owed to a
corporate creditor through the issue of a further 619,195 new
Ordinary Shares at an issue price of 3.23p per new Ordinary Share
("Creditor Settlement Shares").
Application will be made for admission of the Settlement Shares
and the Creditor Settlement Shares (together the "New Shares"), in
aggregate amounting to 5,981,424 New Shares representing 0.70% of
the current issued share capital, to trading on AIM ("Admission")
and Admission is expected to occur on or about 10 November 2022.
The New Shares will rank pari passu in all respects with the
Company's existing issued ordinary shares.
Total Voting Rights
On Admission, the Company's issued share capital consists of
856,375,115 ordinary shares of 0.02p each with voting rights
("Ordinary Shares"). The Company does not hold any Ordinary Shares
in Treasury. Therefore, the total number of Ordinary Shares in the
Company with voting rights is 856,375,115. The above figure of
856,375,115 may be used by shareholders as the denominator for the
calculations by which they will determine if they are required to
notify their interest in, or a change to their interest in the
Company under the FCA's Disclosure and Transparency Rules.
A copy of this announcement: www.xtractresources.com
Enquiries :
Xtract Resources Plc Colin Bird, +44 (0)20 3416 6471
Executive Chairman www.xtractresources.com
Beaumont Cornish Limited Roland Cornish +44 (0)207628 3369
Nominated Adviser Michael Cornish www.beaumontcornish.co.uk
and Joint Broker Felicity Geidt
Novum Securities Limited Jon Bellis +44 (0) 207 399 9427
Joint Broker Colin Rowbury www.novumsecurities.com
The following disclosure is made in accordance with Article 19
of the EU Market Abuse Regulation 596/2014.
Details of the person discharging managerial responsibilities
1 / person closely associated
a) Name 1. Colin Bird
2. Joel Silberstein
3. Kjeld Thygesen
4. Eduard Victor
-------------------------- --------------------------------------------------------------------------
Reason for the notification
2
------------------------------------------------------------------------------------------------------
a) Position/status 1. Chairman
2. Finance Director
3. Non-Executive Director
4. Chief Operating Officer (Non-Board)
-------------------------- --------------------------------------------------------------------------
b) Initial notification Initial Notification
/Amendment
-------------------------- --------------------------------------------------------------------------
Details of the issuer, emission allowance market participant,
3 auction platform, auctioneer or auction monitor
------------------------------------------------------------------------------------------------------
a) Name Xtract Resources plc
-------------------------- --------------------------------------------------------------------------
b) LEI 213800A71LZ79EKUNC34
-------------------------- --------------------------------------------------------------------------
Details of the transaction(s): section to be repeated for
4 (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 Options over Ordinary Shares of 0.02p each
financial instrument, ("Ordinary Shares")
type of instrument
Identification code ISIN: GB00BYSX2795
b) Nature of the transaction Issue of Options over Ordinary Shares
-------------------------- --------------------------------------------------------------------------
c) Price(s) and volume(s) Director Price payable on exercise of option Volume(s)
----------------- -------------------------------------- ---------
Colin Bird P 5.00 5,000,000
Joel Silberstein P 5.00 2,000,000
Kjeld Thygesen p 5.00 1,000,000
Eduard Victor p 5.00 1,000,000
----------------------------------------------------------------------
d) Aggregated information
- Aggregated volume 9,000,000 options over Ordinary Shares
- Price 9,000,000 exercisable at 5.00p
e) Date of the transaction 3 November 2022
-------------------------- --------------------------------------------------------------------------
f) Place of the transaction Outside a trading venue
-------------------------- --------------------------------------------------------------------------
Details of the person discharging managerial responsibilities
1 / person closely associated
a) Name 1. Colin Bird
2. Joel Silberstein
3. Eduard Victor
-------------------------- --------------------------------------------------------------------------
Reason for the notification
2
------------------------------------------------------------------------------------------------------
a) Position/status 1. Chairman
2. Finance Director
3. Chief Operating Officer (Non-Board)
-------------------------- --------------------------------------------------------------------------
b) Initial notification Initial Notification
/Amendment
-------------------------- --------------------------------------------------------------------------
Details of the issuer, emission allowance market participant,
3 auction platform, auctioneer or auction monitor
------------------------------------------------------------------------------------------------------
a) Name Xtract Resources plc
-------------------------- --------------------------------------------------------------------------
b) LEI 213800A71LZ79EKUNC34
-------------------------- --------------------------------------------------------------------------
Details of the transaction(s): section to be repeated for
4 (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 Ordinary Shares of 0.02p each ("Ordinary
financial instrument, Shares")
type of instrument
Identification code ISIN: GB00BYSX2795
b) Nature of the transaction Issue of Ordinary Shares
-------------------------- --------------------------------------------------------------------------
c) Price(s) and volume(s) Director Price payable on exercise of option Volume(s)
----------------- -------------------------------------- ---------
Colin Bird P 3.23 2,167,183
Joel Silberstein P 3.23 718,266
Eduard Victor p 3.23 1,238,390
----------------------------------------------------------------------
d) Aggregated information
- Aggregated volume 4,123,839 Ordinary Shares
- Price 4,123,839 Ordinary Shares at 3.23p
e) Date of the transaction 3 November 2022
-------------------------- --------------------------------------------------------------------------
f) Place of the transaction Outside a trading venue
-------------------------- --------------------------------------------------------------------------
ENDS
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END
DSHFLFVILTLSIIF
(END) Dow Jones Newswires
November 04, 2022 06:43 ET (10:43 GMT)
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