Primorus Investments PLC Director/PDMR Shareholding (9631M)

TIDMPRIM

RNS Number : 9631M

Primorus Investments PLC

03 August 2017

Primorus Investments plc

("Primorus" or the "Company")

Grant of Options

The Company announces that it has agreed to grant 75 million share options to Alastair Clayton (Executive Director) and 75 million share options to Donald Strang (Non-Executive Director) ("New Options"). Each New Option will entitle the holder to subscribe for new ordinary shares of 0.01p each in the Company ("Shares") at an exercise price of 0.30 pence per Share (being a 26.3% premium to the Placing Price of the Placing announced on 2 August 2017) and are exercisable at any time within 5 years from the date of grant.

Alastair Clayton currently holds 53 million Shares in the Company, which will represent 2.39% of the share capital of the Company after the completion of the Placing, and 12 million share options with an exercise price of 0.30 pence per Share. Donald Strang holds 12 million share options exercisable at 0.30 pence per Share and a further 10 million share options exercisable at 0.40 pence per Share. Jeremy Taylor-Firth (Chairman of the Company) holds 12 million share options exercisable at 0.30 pence per Share. The Directors have no other interests in the share capital of the Company.

The grant of the New Options is considered to be a related party transaction under the AIM Rules for Companies. Jeremy Taylor-Firth, having consulted with Cairn Financial Advisers LLP, the Company's nominated adviser, considers that the terms of the New Options are fair and reasonable as far as the Company's shareholders are concerned.

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

For further information, please contact:

 
 Primorus Investments plc:         +44 (0) 20 7440 0640 
 Alastair Clayton 
 
 Nominated Adviser:                +44 (0) 20 7213 0880 
 Cairn Financial Advisers LLP 
 James Caithie / Sandy Jamieson 
 
 Broker:                           +44 (0) 20 3137 1902 
 Optiva Securities Limited 
 Christian Dennis / Jeremy King

This information is provided by RNS

The company news service from the London Stock Exchange

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August 03, 2017 02:01 ET (06:01 GMT)

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