TIDMRGM
RNS Number : 0382K
Regency Mines PLC
06 April 2018
Regency Mines Plc
("Regency Mines" or the "Company")
Issue of Shares under Share Incentive Plan and Directors'
Dealings
6 April 2018
Regency Mines Plc, the natural resource investment and
development company, announces that on 3 April 2018 the Board of
Directors approved the issuance of 3,353,682 ordinary shares in the
Company ("Ordinary Shares") under the Company's Share Incentive
Plan ("SIP") for the 2017/18 tax year as agreed in the Trustees
meeting held on 3 April 2018.
Under the terms of the SIP, once employees have satisfactorily
completed their probationary period, they may sign up to
Partnership Share Agreement, however, they may only begin active
participation in the Partnership Agreement at the beginning of the
tax year.
Partnership Share Agreement - Share Award
Employees may purchase up to GBP1,800 (or up to a maximum of 10%
of their salary, whichever is the lower) worth of Shares (the
"Partnership Shares") in any one tax year. The Company will match
these shares on a 2:1 basis (the "Matching Shares"). The
Partnership and the Matching Shares are awarded with reference to
the lower of the mid-market closing price at the beginning or at
the end of the accumulation period.
Therefore, 1,117,894 Partnership Shares and 2,235,788 Matching
Shares (being 3,353,682 Shares in aggregate) have been awarded with
reference to the mid-market closing price of 0.475p as of 29 March
2018, which is the end of the accumulation period for the 2017/18
tax year.
The Directors have participated in the Partnership Share award
and the above numbers include such participation, further details
of which are set out below.
All shares awarded under the Partnership Share Agreement will be
held by the SIP Trustees and such shares cannot be released to
participants until five years after the date of the award, except
in specific circumstances.
Directors' Participation
In respect of the 2017/2018 tax year, all Directors were
eligible to participate in the Partnership and Matching Share
schemes. These shares awarded to Directors have been included in
the table below, which sets out the total shareholding and
interests of the Directors in the enlarged share capital of the
Company:
Directors New Ordinary Ordinary Total % of Options Warrants
Shares Shares Post Shares Enlarged
Issuance Issued
Share
Capital
Direct* Indirect**
Andrew R
M Bell 1,136,841 27,600,720 6,014,495 33,615,215 4.25% 13,360,000 10,327,993
Edward Bugnosen 1,080,000 10,000 5,840,623 5,850,623 0.74% 560,000 -
Scott Kaintz 1,136,841 930,143 6,014,495 6,944,638 0.88% 12,420,000 909,091
----------------- ------------- ----------- ----------- ----------- ---------- ----------- -----------
*Post issuance, Mr A Bell holds 4,825,907 shares in the account
of Alliance Trust Nominees Limited, 977,429 shares in the name of
Beaufort Securities Nominees Limited, and 2,302,435 shares in the
account of Rock (Nominees) Limited. Mr S Kaintz holds 21,052 shares
in the account of Hargreave Hale Limited.
**In addition, Mr A Bell and Mr S Kaintz are each beneficiaries
of 6,014,495 shares held on their behalf by the SIP Trustees whilst
Mr E Bugnosen is a beneficiary of 5,840,623 shares held on his
behalf by the SIP Trustees.
Admission to trading on AIM and Total Voting Rights
Application is being made to AIM for 3,353,682 new Ordinary
Shares allotted in relation to the SIP for 2017/18 tax year to be
admitted to trading on AIM. Admission of the 3,353,682 new Ordinary
Shares is expected on or around 11 April 2018.
Following the issue of the 3,353,682 new Ordinary Shares, the
issued share capital of the Company consists of 791,239,654
ordinary shares of 0.01p each with voting rights. No Ordinary
Shares are held in Treasury.
The above figure of 791,239,654 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 Disclosure and Transparency
Rules.
For Further Information Contact:
Andrew Bell 0207 747 9960 Chairman Regency Mines Plc
Scott Kaintz 0207 747 9960 Executive Director Regency Mines
Plc
Roland Cornish/Rosalind Hill Abrahams 0207 628 3396 NOMAD Beaumont Cornish Limited
Jason Robertson 0207 374 2212 Broker First Equity Limited
The following disclosure is made in accordance with Article 19
of the EU Market Abuse Regulation 596/2014.
1 Details of the person discharging managerial
responsibilities / person closely associated
---- -----------------------------------------------------------------------
a) Name 1. Andrew R M Bell
2. Edward Sr Bugnosen
3. Scott C Kaintz
---- -------------------------- -------------------------------------------
2 Reason for the notification
---- -----------------------------------------------------------------------
a) Position/status 1. Executive Chairman
2. Non-Executive Director
3. Executive Director
---- -------------------------- -------------------------------------------
b) Initial notification Initial Notification
/Amendment
---- -------------------------- -------------------------------------------
3 Details of the issuer, emission allowance market
participant, auction platform, auctioneer or
auction monitor
---- -----------------------------------------------------------------------
a) Name Regency Mines Plc
---- -------------------------- -------------------------------------------
b) LEI 2138009ECXQQ3EGKVY57
---- -------------------------- -------------------------------------------
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 Ordinary Shares of 0.01p each
the financial
instrument, type
of instrument
----
Identification ISIN: GB00BYVT4J08
code
b) Nature of the Issue of Shares under Share Incentive
transaction Plan
---- -------------------------- -------------------------------------------
c) Price(s) and volume(s) Name Price(s) Volume(s)
---------------- --------- ----------
Andrew R M
Bell 0.475p 1,136,841
---------------- --------- ----------
Edward Sr
Bugnosen 0.475p 1,080,000
---------------- --------- ----------
Scott C Kaintz 0.475p 1,136,841
---------------- --------- ----------
---- -----------------------------------------
d) Aggregated information
----
- Aggregated volume 3,353,682
- Price 0.475 pence
e) Date of the transaction 3 April 2018
---- -------------------------- -------------------------------------------
f) Place of the transaction Outside a trading venue
---- -------------------------- -------------------------------------------
This information is provided by RNS
The company news service from the London Stock Exchange
END
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