Business
Grant of Share Options & Warrants
Grant of Share Options & Warrants.
About this update from Capital Metals Plc
[{"type":"text","content":"\n\nTHIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS STIPULATED UNDER THE UK VERSION OF THE MARKET ABUSE REGULATION NO 596/2014 WHICH IS PART OF ENGLISH LAW BY VIRTUE OF THE EUROPEAN (WITHDRAWAL) ACT 2018, AS AMENDED. ON PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INFORMATION IS CONSIDERED TO BE IN THE PUBLIC DOMAIN.\n \n1 August 2023\n \nCapital Metals plc\n \n(\"Capital Metals\" or the \"Company\")\n \nGrant of Share Options and Warrants\n&\nIssue of Equity\n \nCapital Metals (AIM: CMET), a mineral sands company approaching mine development stage at the high-grade Eastern Minerals Project in Sri Lanka (the \"Project\"), announces the grant of share options over 8,000,000 ordinary shares to certain Directors as set out below, as well as 3,050,000 options to employees and consultants, (the \"Options\") for the purpose of encouraging the retention of key individuals and, in the case of the executive director, providing additional incentives aligned to future success milestones. In addition, 1,000,000 warrants (\"Warrants\") have been issued to service providers of the Company.\n \nFollowing this announcement, and the cancellation of 8,750,000 historical share options, the Company now has a total of 14,550,000 share options in issue, representing approximately 4.8% of the fully diluted share capital of the Company. In addition, there are 13,088,405 warrants outstanding.\n \n \nSchedule of Directors Options\n \n\n\n\nDIRECTOR\n\n\nROLE\n\n\nDATE OF\nGRANT\n\n\nNO. OPTIONS GRANTED\n\n\nEXERCISE PRICE\n\n\nVESTING CONDITIONS\n\n\nEXPIRY DATE\n\n\n\n\nGreg Martyr\n\n\nExecutive Chairman\n\n\n1 August 2023\n\n\n6,000,000\n\n\n3p\n\n\nSee *Note 1\n\n\n31 July 2028\n\n\n\n\nJames Leahy\n\n\nNon-Executive Director\n\n\n1 August 2023\n\n\n2,000,000\n\n\n3p\n\n\nSee *Note 2\n\n\n31 July 2028\n\n\n\n \n*Note 1: Options granted to Mr Martyr are in consideration of additional responsibilities taken on as Executive Chairman from 1 July 2023, and are aligned to the following future success milestones:\n \n· One-third shall vest on full reinstatement of Industrial Mining Licences 16236 and 16237 (which were suspended as announced on 12 December 2022)\n· One-third shall vest on signing of a joint venture agreement wi...