Business
Cancellation and re-issue of options
Cancellation and re-issue of options.
About this update from Corcel Plc
[{"type":"text","content":"\n \nRNS Number : 1609B Regency Mines PLC 14 June 2016 \n\nRegency Mines Plc\n(\"Regency\" or the \"Company\")\nCancellation and Re-issue of Options\nDirectors' Shareholdings \n \n \n14 June 2016 \n \nRegency Mines Plc (\"Regency\" or the \"Company\"), on 1 February 2016 announced the grant of 7,060,000 options to directors and key staff. The grants other than those to Edmund Bugnosen were made under an EMI (Enterprise Management Incentive) scheme (\"EMI Grants\"). \n \nFor administrative reasons, it has become necessary to cancel and reissue the EMI options on the same terms and conditions (including exercise price), as described below.\n \nThe Company announces the immediate cancellation of the EMI Grants and the reissue with immediate effect of the same number of EMI options to the same grantees and upon the same conditions, with the designation \"Series 1\".\n \n\n\n\n\n\n\n\nTranche 1\n\n\nTranche 2\n\n\nTranche 3\n\n\nTranche 4\n\n\n\n\nAndrew Bell\n\n\n740,000\n\n\n740,000\n\n\n740,000\n\n\n740,000\n\n\n\n\nScott Kaintz\n\n\n740,000\n\n\n740,000\n\n\n670,000\n\n\n670,000\n\n\n\n\nOther personnel\n\n\n180,000\n\n\n180,000\n\n\n180,000\n\n\n180,000\n\n\n\n\nVesting (from Date):\n\n\nImmediate\n\n\n29 June 2016\n\n\n29 January 2017\n\n\n29 June 2017\n\n\n\n\nPerformance condition:\n\n\nN/A\n\n\nShare price close 3 days over 0.7p\n\n\nShare price close 3 days over 1p\n\n\nShare price close 3 days over 1.3p\n\n\n\n\n \nAll options have an exercise price of 0.45p and lapse on 29 January 2022.\n \nThe vesting in respect of tranches not yet vested will be accelerated, though the performance condition will be retained, in the event of a takeover event. \n \nFollowing the cancellation and reissue, the resultant total directors' shareholdings are as follows:\n \n\n\n\n\nDirectors \n\n\nOrdinary Shares\n\n\nTotal Shares\n\n\n% of Issued Share Capital\n\n\nWarrants\n\n\nOptions\n\n\n\n\n\n\n\nDirect\n\n\nIndirect\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nAndrew R M Bell\n\n\n2,302,435\n\n\n3,535,590\n\n\n5,838,025\n\n\n2.31%\n\n\n-\n\n\n2,960,000\n\n\n\n\nEdward Sr Bugnosen\n\n\n10,000\n\n\n2,634,710\n\n\n2,644,710\n\n\n1.05%\n\n\n-\n\n\n560,000\n\n\n\n\nScott Kaintz\n\n\n-\n\n\n2,709,262\n\n\n2,709,262\n\n\n1.07%\n\n\n-\n\n\n2,820,000\n\n\n\n\n \n \n*Mr A Bell and Mr S K...