Business
Allocation of Directors' Options
Allocation of Directors' Options.
About this update from Strategic Minerals Plc
[{"type":"text","content":"\n \nRNS Number : 8951E Strategic Minerals PLC 15 February 2018 \n\nMarket Abuse Regulation (MAR) Disclosure\nCertain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.\n \n15 February 2018\n \nStrategic Minerals plc\n(\"Strategic Minerals\", \"SML\" or the \"Company\")\n \nAllocation of Directors' Options\n \n \nStrategic Minerals plc (AIM: SML; USOTC: SMCDY), the diversified mineral development and production company, is pleased to announce that it has, today, formally established the three Tranche Options Programme as proposed in the circular and notice of General Meeting sent to shareholders of the Company on 3 October 2017, and which shareholders overwhelmingly endorsed in the General Meeting held by the Company on 19 October 2017. \n \nThe three tranches established are as follows:\n \n\n\n\n\nTranche\n\n\nNumber of Options\n\n\nVesting Price\n\n\nExercise Price\n\n\nMaturity Date\n\n\n\n\n1\n\n\n120,000,000\n\n\n£0.055\n\n\n£0.0275\n\n\n30 June 2020\n\n\n\n\n2\n\n\n55,000,000\n\n\n£0.075\n\n\n£0.0375\n\n\n30 June 2021\n\n\n\n\n3\n\n\n25,000,000\n\n\n£0.100\n\n\n£0.0500\n\n\n30 June 2022\n\n\n\n\n \nThe Board has, today, issued options only to Board members as outlined in the documentation provided to shareholders prior to the October General Meeting. Accordingly, the following options have today been issued:\n \n\n\n\n\nTranche\n\n\nJohn Peters\n\n\nAlan Broome\n\n\nPeter Wale\n\n\nTotal Issued\n\n\n\n\n1\n\n\n36,000,000\n\n\n24,000,000\n\n\n12,000,000\n\n\n72,000,000\n\n\n\n\n2\n\n\n16,500,000\n\n\n11,000,000\n\n\n11,000,000\n\n\n38,500,000\n\n\n\n\n3\n\n\n7,500,000\n\n\n5,000,000\n\n\n5,000,000\n\n\n17,500,000\n\n\n\n\n \nThe Board has consciously established these tranches to provide a framework which shareholders have approved and within which the Board can, as it considers appropriate, allocate to other individuals involved in achieving the Company's objectives. Throughout this process, the Board has maintained the highest levels of transparency with shareholders. \n \nIt is envisaged that further option allocations will be completed in the first half of 2018 but that the options available under the programme may not b...