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
issued |
Exercise price per 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
options (post-consolidation) |
Exercise price of existing
options |
No. of new share options |
Exercise price of new share
options |
Total no. of
ordinary shares subject to share options |
| Karen O’Mahony |
- |
- |
833,333 |
5p |
833,333 |
| David Fletcher |
- |
- |
500,000 |
30p |
500,000 |
| Mark Wellesley-Wood |
50,000 |
11p |
166,667 |
30p |
216,667 |
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 Officer |
Email:
ceo@tri-starresources.com |
| SP Angel Corporate Finance (Nomad
and broker) |
Tel: +44 (0) 20 3470 0470 |
| 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 instrument, type of instrument:
Identification code: |
Ordinary shares of 5
pence each |
| b) |
Nature of the transaction: |
Issue of options |
| c) |
Price(s) and volume(s): |
| Price(s) |
Volume(s) |
| 5p |
833,333 |
|
| d) |
Aggregated
information:
Aggregated volume:
Price: |
Single transaction as in 4 c) above
| 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 instrument, type of instrument:
Identification code: |
Ordinary shares of 5
pence each |
| b) |
Nature of the transaction: |
Issue of options |
| c) |
Price(s) and volume(s): |
| Price(s) |
Volume(s) |
| 30p |
500,000 |
|
| d) |
Aggregated
information:
Aggregated volume:
Price: |
Single transaction as in 4 c) above
| 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 instrument, type of instrument:
Identification code: |
Ordinary shares of 5
pence each |
| b) |
Nature of the transaction: |
Issue of options |
| c) |
Price(s) and volume(s): |
| Price(s) |
Volume(s) |
| 30p |
166,667 |
|
| d) |
Aggregated
information:
Aggregated volume:
Price: |
Single transaction as in 4 c) above
| Price(s) |
Volume(s) |
| 30p |
166,667 |
|
| e) |
Date of the transaction: |
25 June 2018 |
| f) |
Place of the transaction: |
Outside a trading venue |