W Resources PLC (LON:WRES)

W Resources PLC (LON:WRES)


Share Price
0.44 p
Change
0.0072 (1.66 %)
Market Cap
£25.62 m
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W Resources PLC RNS Release

Grant of Share Options


RNS Number : 9529H
W Resources PLC
20 November 2018
 

 

 

 

 

 

20 November 2018

 

 

W Resources Plc

("W" or the "Company")

Grant of Share Options

W Resources Plc (AIM:WRES), the tungsten, copper and gold, production, exploration and development company with assets in Spain and Portugal, announces the Directors have approved the recommendation of the Remuneration Committee to make a grant of share options over 30,000,000 new ordinary shares of 0.1p of the Company ("Ordinary Shares") to each of Directors Pablo Neira and James Argalas and a grant of share options over 120,000,000 new Ordinary Shares to Management Executives (the "Options"), all at an exercise price of £0.0055 per Ordinary Share.

The strike price is at a 5.77% premium to yesterday's closing share price of £0.0052.

 

Following the grant of the options the Directors Pablo Neira and James Argalas will hold the following Ordinary Shares and Options.

 

Director

Number of Options

Exercise Price

Expiry Date

Ordinary Shares

Pablo Neira

30,000,000

£0.0055

30 November 2021

0

James Argalas

30,000,000

£0.0055

30 November 2021

0

 

The Options will be capable of exercise at any time until their expiry date of 30 November 2021. The Options are dependent on active service and employment with the Company and the Options will automatically lapse if service and employment is terminated prior to their expiry date.

 

Following the above grant, there are a total of 300,000,000 share options granted over unissued Ordinary Shares, representing 5.48% of the Company's current issued share capital of 5,478,074,605 Ordinary Shares.

 

The notifications below, made in accordance with the requirements of the Market Abuse Regulation, provide further detail.

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Pablo Neira

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

W Resources Plc

b)

LEI

213800H66EK87TAOS666

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 to subscribe for new ordinary shares of 0.01p each


Identification code

GB00B0358H47

b)

Nature of the transaction

Grant of options

c)

Price(s) and volumes(s)

Price(s)

Volume(s)

£0.0055 exercise price

30,000,000

d)

Aggregated information


Aggregated volume

30,000,000


Price

0.0055

e)

Date of the transaction

20 November 2018

f)

Place of the transaction

Outside of a trading venue

 

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

James Argalas

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

W Resources Plc

b)

LEI

213800H66EK87TAOS666

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 to subscribe for new ordinary shares of 0.01p each


Identification code

GB00B0358H47

b)

Nature of the transaction

Grant of options

c)

Price(s) and volumes(s)

Price(s)

Volume(s)

£0.0055 exercise price

30,000,000

d)

Aggregated information


Aggregated volume

30,000,000


Price

0.0055

e)

Date of the transaction

20 November 2018

f)

Place of the transaction

Outside of a trading venue

 

 

The information communicated within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

 

Enquiries:

W Resources Plc

Grant Thornton UK LLP

Michael Masterman

Colin Aaronson / Jen Clarke / Seamus Fricker

T: +44 (0) 20 7193 7463

T: +44 (0) 20 7383 5100

www.wresources.com




Turner Pope Investments (TPI) Ltd

Gable Communications

Andy Thacker

Justine James

T: +44 (0) 203 621 4120

T: +44 (0) 20 7193 7463

www.turnerpope.com

M: +44 (0) 7525 324431

 


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.
 
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