Business
Directors Remuneration/Repricing of Share Options
Directors Remuneration/Repricing of Share Options.
About this update from Andrada Mining Limited
[{"type":"text","content":"\n \n \n \n RNS Number : 4961K\n AfriTin Mining Ltd\n 04 January 2021\n \n \n \n \n 4 January 2021\n \n \n AfriTin Mining Limited\n \n \n (\"AfriTin\", \"ATM\" or the \"Company\"\n \n \n and with its subsidiaries the \"Group\")\n \n \n Repricing of Share Options\n \n \n Directors and PDMRs Remuneration\n \n \n Total Voting Rights\n \n \n PDMR Disclosures\n \n \n AfriTin Mining Limited (AIM: ATM), an African tin mining company with its flagship asset, the Uis Tin Mine (\"Uis\") in Namibia announces today that it has repriced share options to certain PDMRs, employees and Anthony Viljoen (Chief Executive Officer (\"CEO\")). The Company is also pleased to announce that it has issued shares to certain Directors, PDMRs and employees in lieu of payment of remuneration and discretionary bonuses (in recognition of achieving certain milestones).\n \n \n Repricing of Share Options\n \n \n The Remuneration Committee and independent Board wish to align Company and shareholder expectations with Executive long-term incentivisation goals. A key goal of the Company is to ensure it has long term incentivisation in place to meaningfully retain staff and which aligns with shareholder expectations. The Company's previous pricing did not meet the criteria and therefore the Company has repriced existing options to a more achievable level bringing a direct line of sight to long-term incentivisation.\n \n \n The new exercise price reflects what the Remuneration Committee consider to be an appropriate share price target given the current stage of development of the Company and its current share price. The Remuneration Committee sought to set the price at a level which they believe was both achievable, but which still motivated the Executive team to drive value into the business and hence increase the share value. \n \n \n Options held by Anthony Viljoen (CEO) have been repriced as follows:\n \n \n \n \n \n Director\n \n \n \n \n Number of Options Held\n \n \n \n \n Current Exercise Price\n \n \n \n \n New Exercise Price\n \n \n \n \n First Exercise Date\n \n \n \n \n Expiry Date\n \n \n \n \n \n \n Anthony Viljoen (CEO)\n \n \n \n \n 3 500 000\n \n \n \n \n 4.5 pence\n \n \n \n \n 3 pence\n \n \n \n \n 4 January 2022\n \n \n \n \n At any time until 14 June 2023 \n \n \n \n \n \n \n Anthony Viljoen (CEO)\n \n \n \n \n 1 750 000...