leadf
logo-loader
viewMetal Tiger PLC

Adoption of New Option Scheme

--(BUSINESS WIRE)--  LONDON

Metal Tiger plc
(“Metal Tiger” or the “Company”)

Adoption of New Option Scheme
Grant of Options
Extension of Existing Options

Metal Tiger plc (AIM: MTR), the London Stock Exchange AIM listed investor in natural resource opportunities, announces that the Board has approved the adoption of a new share option incentive scheme (the “”), pursuant to which new options will be issued to key staff and management. In addition, the Company has extended the exercise period in respect of certain existing options.New Option Scheme

The Company considers that the award of options linked to the performance of the Company are critical to the incentivisation of its key staff and management and to ensure that there is alignment between management and shareholders.

Terms of the New Option Scheme

Tranche A Options

Pursuant to the New Option Scheme, 3,000,000 new options will be issued on the terms summarised below (the “”) to certain Directors and a PDMR:Tranche A Options

The following Directors and PDMR will be issued with Tranche A Options:

In addition, 600,000 Tranche A Options will be allocated to an option pool, which the Board can grant on a discretionary basis.

Tranche B Options

Pursuant to the New Option Scheme, 2,300,000 new options will be issued on the terms summarised below (the “”):Tranche B Options

The following Directors and PDMR will be issued with Tranche B Options:

In addition, 800,000 Tranche B Options have been allocated to certain employees and 500,000 Tranche B Options have been allocated to an option pool, which the Board can grant on a discretionary basis.

Extension of Existing Options

In order to continue to appropriately incentivise certain key staff and management, the Board has resolved to extend expiry dates of the following options (the “”) alongside the adoption of the New Option Scheme:Option Extension

Following the issue of the Tranche A Options and the Tranche B Options pursuant to the New Option Scheme, the total number of options in issue will be 14,950,000 (including the unallocated pools), representing approximately 9.76% of the Company’s issued share capital, of which the following are held by the Board and PDMRs:

Following the issue of the Tranche A Options and the Tranche B Options pursuant to the New Option Scheme, the Directors and PDMRs will, in aggregate, hold options over approximately 7.54% of the Company’s issued share capital.

This announcement contains inside information for the purposes of the market abuse regulation (EU No. 596/2014).

For further information on the Company, visit:www.metaltigerplc.com

Enquiries:

Notes to Editors:

Metal Tiger PLC is admitted to the AIM market of the London Stock Exchange AIM Market (“AIM”) with the trading code MTR and invests in high potential mineral projects with a base, precious and strategic metals focus.

The Company’s target is to deliver a high return for shareholders by investing in significantly undervalued and/or high potential opportunities in the mineral exploration and development sector. Metal Tiger has two investment divisions: Equity Investments and Project Investments.

invests in undervalued natural resource companies. The majority of its investments are listed on AIM, the TSX and the ASX, which includes its interest in Sandfire Resources Limited (ASX: SFR). The Company also considers selective opportunities to invest in private natural resource companies, typically where there is an identifiable path to IPO. Through the trading of equities and warrants, Metal Tiger seeks to generate cash for investment for the Project Investments division.Equity Investments

is focused on the development of its key project interests in , where Metal Tiger has a growing interest in the large and highly prospective Kalahari copper/silver belt through its interest in Kalahari Metals Limited.Project InvestmentsBotswana

The Company actively assesses new investment opportunities on an on-going basis and has access to a diverse pipeline of new opportunities in the natural resources and mining sectors. For pipeline opportunities deemed sufficiently attractive, Metal Tiger may invest in the project or entity by buying publicly listed shares, by financing privately and/or by entering into a joint venture.

END

Metal Tiger plc

Source: Metal Tiger plc

  • The exercise price will be 27.5p and an expiry date of .30 June 2028
  • 40% of the Tranche A Options will vest over four years in equal tranches.
  • 30% of the Tranche A Options will vest when Metal Tiger’s shares have traded at or in excess of per share on a rolling 10 day VWAP basis.45 pence
  • 30% of the Tranche A Options will vest when Metal Tiger’s shares have traded at or in excess of per share on a rolling 10 day VWAP basis.60 pence
  • The issue of any new options will be restricted if the total number of options outstanding would represent in excess of 10% of the Company’s issued share capital.
  • In the event that a holder of Tranche A Options leaves the Company on good leaver status after the performance options vest, then the holder of Tranche A Options will be entitled to retain their Tranche A Options.
  • The Tranche B Options will vest on issue, have an exercise price of 27.5p and an expiry date of .30 June 2023
  • The issue of any new options will be restricted if the total number of options outstanding would represent in excess of 10% of the Company’s issued share capital.
  • In the event that a holder of Tranche B Options leaves the Company on good leaver status after the performance options vest, then the holder of Tranche B Options will be entitled to retain their Tranche B Options.
  • The outstanding 2,100,000 options with an exercise price of granted on , from to .60 pence11 May 201711 May 202222 May 2025
  • The outstanding 4,500,000 options with an exercise price of granted on and , from to .45 pence21 July 20181 October 201820 July 202320 July 2024

Director and PDMR

Number of Tranche A Options

Michael McNeilly

1,000,000

Mark Potter

600,000

Adrian Bock

800,000

Director and PDMR

Number of Tranche B Options

Charles Hall

200,000

Neville Bergin

200,000

David Wargo

200,000

Adrian Bock

400,000

Director and PDMR

Number of

Options

Exercise

Price (p)

Expiry Date

Charles Hall

300,000

35.0

20 July 2023

 

450,000

45.0

20 July 2024

 

500,000

60.0

22 May 2025

 

200,000

27.5

30 June 2023

 

 

 

 

Michael McNeilly

1,000,000

35.0

20 July 2023

 

1,500,000

45.0

20 July 2024

 

1,000,000

60.0

22 May 2025

 

1,000,000

27.5

30 June 2028

 

 

 

 

Mark Potter

1,000,000

35.0

20 July 2023

 

1,500,000

45.0

20 July 2024

 

400,000

60.0

22 May 2025

 

600,000

27.5

30 June 2028

 

 

 

 

Neville Bergin

200,000

35.0

20 July 2023

 

300,000

45.0

20 July 2024

 

200,000

27.5

30 June 2023

 

 

 

 

David Wargo

200,000

27.5

30 June 2023

 

 

 

 

Adrian Bock

800,000

27.5

30 June 2028

 

400,000

27.5

30 June 2023

1.

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Charles Hall

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

METAL TIGER PLC

b)

LEI

213800K1IN6M1VCVPA93

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

Options over ordinary shares of 0.1p each in the share capital of Metal Tiger plc

Identification code

ISIN for Ordinary Shares: GB00BMQC0691

b)

Nature of the Transaction

Issue of Options

c)

Price(s) and volume(s)

Price(s) 27.5p

Volume(s) 200,000  

d)

Aggregated information

  • Aggregated volume
  • Price
  • 200,000
  • 27.5p

e)

Date of the transaction

1 October 2020

f)

Place of the transaction

London Stock Exchange (AIM)

1.

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Michael McNeilly

2.

Reason for the Notification

a)

Position/status

Chief Executive Officer

b)

Initial notification/amendment

Initial notification

3.

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

METAL TIGER PLC

b)

LEI

213800K1IN6M1VCVPA93

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

Options over ordinary shares of 0.1p each in the share capital of Metal Tiger plc

Identification code

ISIN for Ordinary Shares: GB00BMQC0691

b)

Nature of the Transaction

Issue of Options

c)

Price(s) and volume(s)

Price(s) 27.5p

Volume(s) 1,000,000

d)

Aggregated information

  • Aggregated volume
  • Price
  • 1,000,000
  • 27.5p

e)

Date of the transaction

1 October 2020

f)

Place of the transaction

London Stock Exchange (AIM)

1.

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Mark Potter

2.

Reason for the Notification

a)

Position/status

Chief Investment Officer

b)

Initial notification/amendment

Initial notification

3.

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

METAL TIGER PLC

b)

LEI

213800K1IN6M1VCVPA93

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

Options over ordinary shares of 0.1p each in the share capital of Metal Tiger plc

Identification code

ISIN for Ordinary Shares: GB00BMQC0691

b)

Nature of the Transaction

Issue of Options

c)

Price(s) and volume(s)

 Price(s) 27.5p

Volume(s) 600,000

d)

Aggregated information

  • Aggregated volume
  • Price
  • 600,000
  • 27.5p

e)

Date of the transaction

1 October 2020

f)

Place of the transaction

London Stock Exchange (AIM)

1.

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Neville Bergin

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

METAL TIGER PLC

b)

LEI

213800K1IN6M1VCVPA93

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

Options over ordinary shares of 0.1p each in the share capital of Metal Tiger plc

Identification code

ISIN for Ordinary Shares: GB00BMQC0691

b)

Nature of the Transaction

Issue of Options

c)

Price(s) and volume(s)

Price(s) 27.5p

Volume(s) 200,000 

d)

Aggregated information

  • Aggregated volume
  • Price
  • 200,000
  • 27.5p

e)

Date of the transaction

1 October 2020

f)

Place of the transaction

London Stock Exchange (AIM)

1.

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

David Wargo

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

METAL TIGER PLC

b)

LEI

213800K1IN6M1VCVPA93

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

Options over ordinary shares of 0.1p each in the share capital of Metal Tiger plc

Identification code

ISIN for Ordinary Shares: GB00BMQC0691

b)

Nature of the Transaction

Issue of Options

c)

Price(s) and volume(s)

Price(s) 27.5p

Volume(s) 200,000 

d)

Aggregated information

  • Aggregated volume
  • Price
  • 200,000
  • 27.5p

e)

Date of the transaction

1 October 2020

f)

Place of the transaction

London Stock Exchange (AIM)

1.

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Adrian Bock

2.

Reason for the Notification

a)

Position/status

Chief Financial Officer

b)

Initial notification/amendment

Initial notification

3.

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

METAL TIGER PLC

b)

LEI

213800K1IN6M1VCVPA93

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

Options over ordinary shares of 0.1p each in the share capital of Metal Tiger plc

Identification code

ISIN for Ordinary Shares: GB00BMQC0691

b)

Nature of the Transaction

Issue of Options

c)

Price(s) and volume(s)

Price(s) 27.5p

Volume(s) 1,200,000 

d)

Aggregated information

  • Aggregated volume
  • Price
  • 1,200,000
  • 27.5p

e)

Date of the transaction

1 October 2020

f)

Place of the transaction

London Stock Exchange (AIM)

Michael McNeilly

(Chief Executive Officer)

Tel: +44 (0)20 7099 0738

Mark Potter

(Chief Investment Officer)

 

 

 

 

Richard Tulloch

James Dance

Jack Botros

Strand Hanson Limited (Nominated Adviser)

Tel +44 (0)20 7409 3494

 

 

 

Paul Shackleton

Steve Douglas

Arden Partners plc (Broker)

Tel: +44 (0)20 7614 5900

 

 

 

Gordon Poole

James Crothers

Hugo Liddy

Camarco (Financial PR)

Tel: +44 (0)20 3757 4980

Quick facts: Metal Tiger PLC

Price: -

Market: AIM
Market Cap: -
Follow

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Morning report: FTSE falls as traders get back to their desks

The FTSE is lower after a long weekend despite UK factory output rising by the fastest pace in more than six years, albeit from a low level as businesses begin to get back to work.  Movers and shakers include AstraZeneca (LON:AZN) which has received EU approval for Imfinzi which is to...

on 1/9/20

9 min read