Tri-Star Resources Plc Grant of Share Options
June 25 2018 - 1:23PM
UK Regulatory
TIDMTSTR
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
25 June 2018
Tri-Star Resources plc ("Tri-Star" or the "Company")
Grant of Share Options
Tri-Star announces that the Company has granted the following share options to
Karen O'Mahony (acting CEO and CFO), David Fletcher (non-executive director)
and Mark Wellesley-Wood (executive chairman) over 1,500,000 ordinary shares of
5 pence each in the Company ( the "Share Options") under the Company's share
option plans:
Director No. of Share Options being Exercise price per
issued Share Option
Karen O'Mahony 833,333 5p
David Fletcher 500,000 30p
Mark Wellesley-Wood 166,667 30p
The Share Options vest immediately and have a life of three years from the date
of grant.
The Share Options are being awarded in recognition of the services provided by
the relevant directors in relation to the Company's financing and operations
and, in particular, to its investment in Strategic and Precious Metals
Processing LLP ("SPMP") which is constructing an antimony and gold processing
facility in Oman (the "Project").
For Karen O'Mahony, a significant proportion of the award represents the
share-based element of her compensation package agreed at the time she became
acting CEO and CFO and reflects the lower base salary that was negotiated at
that time to assist in the Company's drive to control cash expenditure.
Following the grant of the Share Options, Karen O'Mahony, David Fletcher and
Mark Wellesley-Wood will hold share options as follows:
Director No. of existing Exercise No. of Exercise price of Total no. of
options price of new share new share options ordinary
(post-consolidation) existing options shares
options subject to
share
options
Karen O'Mahony - - 833,333 5p 833,333
David Fletcher - - 500,000 30p 500,000
Mark 50,000 11p 166,667 30p 216,667
Wellesley-Wood
Related Party Transaction
Karen O'Mahony, David Fletcher and Mark Wellesley-Wood, as directors of the
Company are "related parties" as defined under the AIM Rules for Companies and
accordingly the grant of the Share Options to them constitutes a related party
transaction for the purposes of Rule 13 of the AIM Rules for Companies.
The director independent of the grant of options, being Adrian Collins,
considers, having consulted with the Company's nominated adviser, SP Angel
Corporate Finance LLP, that the terms of the Share Options are fair and
reasonable insofar as the Company's shareholders are concerned.
ENDS
Project
The Project is an antimony and gold production facility with annual capacity to
process up to 50,000 dry tonnes of antimony and gold concentrate, producing up
to 20,000 tonnes of antimony and 50,000 ounces of gold. OAR is based in Sohar,
Oman and is being developed by SPMP, an Omani company in which Tri-Star has an
equity and mezzanine debt holding. The plant is being built to the highest
environmental standards and, once fully operational, it is expected to become a
significant player in the antimony market.
Enquiries:
Tri-Star Resources plc Tel: +44 (0)20 7653 6291
Karen O'Mahony, Acting Chief Executive Email: ceo@tri-starresources.com
Officer
SP Angel Corporate Finance (Nomad and Tel: +44 (0) 20 3470 0470
broker)
Robert Wooldridge / Jeff Keating
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: Karen O'Mahony
2. Reason for the notification
a) Position/status: Acting CEO and CFO
b) Initial notification/Amendment: Initial notification
3. Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name: Tri-Star Resources plc
b) LEI:
213800TIXZSF4ZYI2E58
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 Ordinary shares of 5 pence
instrument, type of instrument: each
Identification code:
b) Nature of the transaction: Issue of options
c) Price(s) and volume(s): Price(s) Volume(s)
5p 833,333
d) Aggregated information: Single transaction as in 4 c)
Aggregated volume: above
Price:
Price(s) Volume(s)
5p 833,333
e) Date of the transaction: 25 June 2018
f) Place of the transaction: Outside a trading venue
1. Details of the person discharging managerial responsibilities/person
closely associated
a) Name: David Fletcher
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: Tri-Star Resources plc
b) LEI: 213800TIXZSF4ZYI2E58
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 Ordinary shares of 5 pence
instrument, type of instrument: each
Identification code:
b) Nature of the transaction: Issue of options
c) Price(s) and volume(s): Price(s) Volume(s)
30p 500,000
d) Aggregated information: Single transaction as in 4 c)
Aggregated volume: above
Price:
Price(s) Volume(s)
30p 500,000
e) Date of the transaction: 25 June 2018
f) Place of the transaction: Outside a trading venue
1. Details of the person discharging managerial responsibilities/person
closely associated
a) Name: Mark Wellesley-Wood
2. Reason for the notification
a) Position/status: 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: Tri-Star Resources plc
b) LEI: 213800TIXZSF4ZYI2E58
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 Ordinary shares of 5 pence
instrument, type of instrument: each
Identification code:
b) Nature of the transaction: Issue of options
c) Price(s) and volume(s): Price(s) Volume(s)
30p 166,667
d) Aggregated information: Single transaction as in 4 c)
Aggregated volume: above
Price:
Price(s) Volume(s)
30p 166,667
e) Date of the transaction: 25 June 2018
f) Place of the transaction: Outside a trading venue
END
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