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Director/PDMR Shareholding

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RNS Number : 1850N
Tungsten Corporation PLC
20 September 2019
 

TUNGSTEN CORPORATION PLC 

 

("Tungsten" or the "Company")

 

20 September 2019

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them in accordance with the Market Abuse Regulations.

On 19th September 2019, the following awards over ordinary shares of 0.438 pence each in Tungsten Corporation Plc were granted under the Tungsten Corporation Plc Long Term Incentive Plan to the following person(s) discharging managerial responsibilities (each a "PDMR"):

PDMR

No. of shares under Award

Andrew Lemonofides

531,632

David Williams

478,469

Patrick Clark

193,666

The above LTIP awards were granted as nominal cost options which will ordinarily become exercisable on 19th September 2022 subject to satisfaction of performance conditions in relation to revenue growth, EBITDA growth and increase in share price over three financial years, and also to the grantee's continued service with the Tungsten group.

In addition on the same date, the following award over ordinary shares of 0.438 pence each in Tungsten Corporation Plc was granted to the following PDMR:

PDMR

No. of shares under Award

Andrew Lemonofides

250,000

The above award was granted as an exceptional award of nominal cost options granted on identical terms to an award under the Tungsten Corporation plc Deferred Share Bonus Plan. The award will vest over a two year period (50% vesting on the first anniversary of the date of grant, and the remaining 50% will vest on the second anniversary of the date of grant), subject to the grantee's continued service with the Tungsten group.

The information set out below is provided in accordance with the requirements of Article 19(3) of the Market Abuse Regulation (EU) No 596/2014.

Details of the full notifications received by the Company are set out below.

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Andrew Lemonofides

2

Reason for Notification

a)

Position/status

Chief Executive Officer

b)

Initial notification/Amendment

Initial Announcement

3

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

a)

Name

Tungsten Corporation Plc

b)

LEI

213800KY57NETI1IJ428

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

Ordinary Shares of 0.438 pence each in Tungsten Corporation Plc

Identification code

GB00B7Z0Q502

b)

Nature of the transaction

Grant of a nominal cost option award under the Tungsten Corporation Plc Long Term Incentive Plan.

c)

Price(s) and volume(s)

Price(s)

Volume(s)

Nil

531,632

d)

Aggregated information

-     Aggregated volume

-     Price

Not applicable - single transaction

e)

Date of the transaction

19th September 2019

f)

Place of the transaction

Outside a trading venue

 

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

David Williams

2

Reason for Notification

a)

Position/status

Chief Financial Officer

b)

Initial notification/Amendment

Initial Announcement

3

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

a)

Name

Tungsten Corporation Plc

b)

LEI

213800KY57NETI1IJ428

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

Ordinary Shares of 0.438 pence each in Tungsten Corporation Plc

Identification code

GB00B7Z0Q502

b)

Nature of the transaction

Grant of a nominal cost option award under the Tungsten Corporation Plc Long Term Incentive Plan.

c)

Price(s) and volume(s)

Price(s)

Volume(s)

Nil

478,469

d)

Aggregated information

-     Aggregated volume

-     Price

Not applicable - single transaction

e)

Date of the transaction

19th September 2019

f)

Place of the transaction

Outside a trading venue

 

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Patrick Clark

2

Reason for Notification

a)

Position/status

General Counsel and Company Secretary

b)

Initial notification/Amendment

Initial Announcement

3

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

a)

Name

Tungsten Corporation Plc

b)

LEI

213800KY57NETI1IJ428

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

Ordinary Shares of 0.438 pence each in Tungsten Corporation Plc

Identification code

GB00B7Z0Q502

b)

Nature of the transaction

Grant of a nominal cost option award under the Tungsten Corporation Plc Long Term Incentive Plan.

c)

Price(s) and volume(s)

Price(s)

Volume(s)

Nil

193,666

d)

Aggregated information

-     Aggregated volume

-     Price

Not applicable - single transaction

e)

Date of the transaction

19th September 2019

f)

Place of the transaction

Outside a trading venue

 

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Andrew Lemonofides

2

Reason for Notification

a)

Position/status

Chief Executive Officer

b)

Initial notification/Amendment

Initial Announcement

3

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

a)

Name

Tungsten Corporation Plc

b)

LEI

213800KY57NETI1IJ428

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

Ordinary Shares of 0.438 pence each in Tungsten Corporation Plc

Identification code

GB00B7Z0Q502

b)

Nature of the transaction

Grant of a nominal cost option on identical terms to an award under the Tungsten Corporation plc Deferred Share Bonus Plan.

c)

Price(s) and volume(s)

Price(s)

Volume(s)

Nil

250,000

d)

Aggregated information

-     Aggregated volume

-     Price

Not applicable - single transaction

e)

Date of the transaction

19th September 2019

f)

Place of the transaction

Outside a trading venue

 

 

Name of authorised official of issuer responsible for making notification:

 

 

Patrick Clark

Company Secretary to Tungsten Corporation plc

 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
END
 
 
DSHLLFSEARIIFIA

Quick facts: Tungsten Corp PLC

Price: 44.45

Market: AIM
Market Cap: £56.05 m
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