Business
Award of Warrants
Award of Warrants.
About this update from Critical Mineral Resources Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 0160C\n Caerus Mineral Resources PLC\n 16 June 2021\n \n \n \n \n 16 June 2021 \n \n \n Caerus Mineral Resources PLC\n \n \n ('CMRS' or the 'Company')\n \n \n Award of Warrants\n \n \n Caerus Mineral Resources\n , the Cyprus-focused exploration and resource development company intent on developing mineral resources in Europe to supply the global \"Clean Energy\" drive,\n announces an award of Warrants to the Company's Chief Executive Officer, Martyn Churchouse and to Consultants for Professional Services.\n \n \n The Board of Directors recognises that the recent success and advancement of the Company is attributable principally to the energy and skills of the Chief Executive Officer, Martyn Churchouse in securing the Option Agreement with Jubilee Metals Group and jointly negotiating key acquisitions. Consequently, the Remuneration Committee has agreed to award Mr. Churchouse in a manner that conserves working capital for project development and is aligned with the interests of shareholders. \n \n \n Accordingly, the Board has agreed that Warrants over a total of 2,000,000 new Ordinary shares of 1p each in the capital of the Company (the \"Performance Warrants\") be awarded to Mr. Churchouse. The Warrants will have a 2-year life from Admission. The exercise price will be 25p per Performance Warrant, being a 150% premium to the \"Placing Price\" of shares issued at Admission.\n \n \n In addition, the Board has agreed to issue \"Introduction Warrants\" over a total of 441,174 shares of 1p each in the capital of the company to certain professional advisers for services in connection with recent value-adding acquisitions. The exercise price will be 17p per Warrant, being the closing price on the trading day prior to announcement of the Option Agreement with Jubilee Metals Group. The Warrants will have a 2-year life from Admission.\n \n \n Professor Mike Johnson, Chairman of the Remuneration Committee and an Independent Director, having consulted with the company broker Novum Securities, considers that the terms of the issue of Warrants are fair and reasonable insofar as the Company's shareholders are concerned.\n \n \n \n For further information\n \n , please visit \n \n www.caerusmineralresources.com\n \n or contact:\n \n \n \n \n \n Caerus Mineral Resources plc:\n \n \n \n \n \n \n \n \n \n \n \n...