TIDMEEE
RNS Number : 5303N
Empire Metals Limited
01 February 2021
Empire Metals Limited / AIM: EEE / Sector: Natural Resources
1 February 2021
Empire Metals Limited ('Empire' or the 'Company')
Grant of Options and Director Shareholding
Empire Metals Limited, the AIM-quoted exploration and resource
development company announces that the Remuneration Committee has
agreed to issue options over a total of 21,000,000 ordinary shares
of no par value in the capital of the Company ('Share Options') to
Directors and a consultant of the Company. The Share Options will
vest immediately and will expire on 31 January 2025. The exercise
price of the options will be as follows:
Exercise price (GBP) 0.040 0.055
Number of options granted 10,500,000 10,500,000
---------------------- ----------------------
The Share Options represent in aggregate 6.67% of the existing
issued ordinary share capital of the Company and have been issued
to a number of directors and consultants of the Company in line
with the Company's ongoing incentive plans. Following the grant of
the Share Options, in aggregate there will be 27,300,000 ordinary
shares of no par value of the Company under option to directors of
the Company, representing 8.68% of the existing issued ordinary
share capital of the Company.
Market Abuse Regulation (MAR) Disclosure
Certain information contained in this announcement would have
been deemed inside information for the purposes of Article 7 of
Regulation (EU) No 596/2014 until the release of this
announcement.
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: Michael Struthers
----------------------------------------- -----------------------------------------
2. Reason for the notification
------------------------------------------------------------------------------------
a) Position/status: 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: Empire Metals Limited
----------------------------------------- -----------------------------------------
b) LEI: 2138002IOR7OCZZPB279
----------------------------------------- -----------------------------------------
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, Share options over ordinary
type of instrument: shares of no par value
Identification code: VGG9688A1003
----------------------------------------- -----------------------------------------
b) Nature of the transaction: Grant of options over
ordinary shares
----------------------------------------- -----------------------------------------
c) Price(s) and volume(s): Price(s) Volume(s)
1. 4 pence 3,850,000
2. 5.5 pence 3,850,000
---------- ----------
----------------------------------------- -----------------------------------------
d) Aggregated information: Single transactions
Aggregated volume: as in 4 c) above Price(s) Volume(s)
Price: 4 pence 3,850,000
---------- ----------
Aggregated volume:
Price: Price(s) Volume(s)
5.5 pence 3,850,000
----------- ----------
----------------------------------------- -----------------------------------------
e) Date of the transaction: 2021-02-01
09:00 hrs UTC
----------------------------------------- -----------------------------------------
f) Place of the transaction: Outside a trading venue
----------------------------------------- -----------------------------------------
1. Details of the person discharging managerial responsibilities/person
closely associated
a) Name: Neil O'Brien
----------------------------------------- ----------------------------------------
2. Reason for the notification
-----------------------------------------------------------------------------------
a) Position/status: Non-Executive Chairman
----------------------------------------- ----------------------------------------
b) Initial notification/Amendment: Initial notification
----------------------------------------- ----------------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-----------------------------------------------------------------------------------
a) Name: Empire Metals Limited
----------------------------------------- ----------------------------------------
b) LEI: 2138002IOR7OCZZPB279
----------------------------------------- ----------------------------------------
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, Share options over ordinary
type of instrument: shares of no par value
Identification code: VGG9688A1003
----------------------------------------- ----------------------------------------
b) Nature of the transaction: Grant of options over
ordinary shares
----------------------------------------- ----------------------------------------
c) Price(s) and volume(s): Price(s) Volume(s)
1. 4 pence 1,537,500
2. 5.5 pence 1,537,500
---------- ----------
----------------------------------------- ----------------------------------------
d) Aggregated information: Single transactions
Aggregated volume: as in 4 c) above Price(s) Volume(s)
Price: 4 pence 1,537,500
Aggregated volume: ----------
Price:
Price(s) Volume(s)
5.5 pence 1,537,500
----------
----------------------------------------- ----------------------------------------
e) Date of the transaction: 2021-02-01
09:00 hrs UTC
----------------------------------------- ----------------------------------------
f) Place of the transaction: Outside a trading venue
----------------------------------------- ----------------------------------------
1. Details of the person discharging managerial responsibilities/person
closely associated
a) Name: Gregory Kuenzel
----------------------------------------- ----------------------------------------
2. Reason for the notification
-----------------------------------------------------------------------------------
a) Position/status: Finance Director
----------------------------------------- ----------------------------------------
b) Initial notification/Amendment: Initial notification
----------------------------------------- ----------------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-----------------------------------------------------------------------------------
a) Name: Empire Metals Limited
----------------------------------------- ----------------------------------------
b) LEI: 2138002IOR7OCZZPB279
----------------------------------------- ----------------------------------------
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, Share options over ordinary
type of instrument: shares of no par value
Identification code: VGG9688A1003
----------------------------------------- ----------------------------------------
b) Nature of the transaction: Grant of options over
ordinary shares
----------------------------------------- ----------------------------------------
c) Price(s) and volume(s): Price(s) Volume(s)
1. 4 pence 3,075,000
2. 5.5 pence 3,075,000
---------- ----------
----------------------------------------- ----------------------------------------
d) Aggregated information: Single transactions
Aggregated volume: as in 4 c) above Price(s) Volume(s)
Price: 4 pence 3,075,000
Aggregated volume: ----------
Price:
Price(s) Volume(s)
5.5 pence 3,075,000
----------
----------------------------------------- ----------------------------------------
e) Date of the transaction: 2021-02-01
09:00 hrs UTC
----------------------------------------- ----------------------------------------
f) Place of the transaction: Outside a trading venue
----------------------------------------- ----------------------------------------
1. Details of the person discharging managerial responsibilities/person
closely associated
a) Name: Peter Damouni
----------------------------------------- ----------------------------------------
2. Reason for the notification
-----------------------------------------------------------------------------------
a) Position/status: 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: Empire Metals Limited
----------------------------------------- ----------------------------------------
b) LEI: 2138002IOR7OCZZPB279
----------------------------------------- ----------------------------------------
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, Share options over ordinary
type of instrument: shares of no par value
Identification code: VGG9688A1003
----------------------------------------- ----------------------------------------
b) Nature of the transaction: Grant of options over
ordinary shares
----------------------------------------- ----------------------------------------
c) Price(s) and volume(s): Price(s) Volume(s)
1. 4 pence 1,537,500
2. 5.5 pence 1,537,500
---------- ----------
----------------------------------------- ----------------------------------------
d) Aggregated information: Single transactions
Aggregated volume: as in 4 c) above Price(s) Volume(s)
Price: 4 pence 1,537,500
Aggregated volume: ----------
Price:
Price(s) Volume(s)
5.5 pence 1,537,500
----------
----------------------------------------- ----------------------------------------
e) Date of the transaction: 2021-02-01
09:00 hrs UTC
----------------------------------------- ----------------------------------------
f) Place of the transaction: Outside a trading venue
----------------------------------------- ----------------------------------------
**ENDS**
For further information please visit www.empiremetals.co.uk or
contact:
Mike Struthers Empire Metals Ltd Company Tel: 020 7907
9327
Ewan Leggat S. P. Angel Corporate Nomad & Broker Tel: 020 3470
Finance LLP 0470
Adam Cowl S. P. Angel Corporate Nomad & Broker Tel: 020 3470
Finance LLP 0470
Damon Heath Shard Capital Partners Joint Broker Tel: 020 7186
LLP 9950
Susie Geliher St Brides Partners Ltd PR Tel: 020 7236
1177
Beth Melluish St Brides Partners Ltd PR Tel: 020 7236
1177
About Empire Metals Limited
Empire Metals' primary focus is on the Eclipse Gold Project in
Western Australia which produced 954 tonnes @ 24.6 g/t Au for
754.25 oz Au from the Eclipse shaft which operated up to 1910. In
addition to the known mineralisation at and surrounding the Eclipse
old workings, recent geophysics and geochemistry work has
highlighted further potential mineralisation at two additional
targets north-west of Eclipse, the Houdini and Easy prospects.
The Company also has a 50% joint venture in Georgia which covers
an area of over 860 sq km and has a 30-year mining licence. The
joint venture covers a variety of targets and projects ranging from
greenfield exploration / target definition phase through
intermediate target-testing phases to more advanced projects
including Kvemo Bolnisi East which is due to advance to Feasibility
Study.
The Board continues to evaluate opportunities through which to
realise the value of its wider portfolio and reviews further assets
which meet the Company's investment criteria.
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END
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