Issue of Options
Company awards 14.72m share options to four directors at 2p per share, representing 4.97% of issued capital.
- Share options awarded 14,720,000
- Exercise price per share 2p
- Premium to closing price approximately 10%
- Closing mid-price (16 January 2025) 1.85p
- Percentage of existing issued share capital 4.97%
- Other options outstanding 7,200,000
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Cadence Minerals (AIM: KDNC) announces the award of 14,720,000 share options ("Share Options"). Each Share Option is exercisable over one ordinary share in the capital of the Company ("the "Ordinary Shares"). The Share Options are exercisable at a price of 2 pence per share being approximately 10% premium to the closing mid-price of the Ordinary Shares on 16 January 2025 of 1.85 pence. These options will vest immediately and will expire on 31 December 2030.
The total options granted over Ordinary Shares to Persons Discharging Managerial Responsibilities within the Company (each being a "PDMR") are detailed below:
| Director, PDMR | Position | Options |
|---|---|---|
| Andrew Suckling | Non-Executive Chairman | 3,680,000 |
| Kiran Morzaria | Chief Executive Officer | 3,680,000 |
| Donald Strang | Finance Director | 3,680,000 |
| Adrian Fairbourn | Non-Executive Director | 3,680,000 |
The Share Options represent in aggregate 4.97% of the existing issued share capital. There are currently 7,200,000 other options outstanding.
The Directors of the Company accept responsibility for the contents of this announcement.
| a) | Name | Cadence Minerals PLC | ||||
| b) | LEI | 213800TUZWG9C2GRNO58 | ||||
| a) | Description of the financial instrument Identification Code | Options over Ordinary Shares GB00B067JC96 | ||||
| b) | Nature of the transaction | Issue of options | ||||
| c) | Price(s) and volume(s) |
| ||||
| d) | Aggregated information - Aggregated volume - Price | 3,680,000 2p | ||||
| e) | Date of the transaction | 17 January 2025 | ||||
| f) | Place of the transaction | Outside of a trading venue | ||||
| 1 | Details of the person discharging managerial responsibilities/person closely associated | |||||
| a) | Name | Donald Strang | ||||
| 2 | Reason for the notification | |||||
| a) | Position / Status | Finance Director | ||||
| b) | Initial notification / Amendment | Initial notification | ||||
| a) | Name | Cadence Minerals PLC | ||||
| b) | LEI | 213800TUZWG9C2GRNO58 | ||||
| a) | Description of the financial instrument Identification Code | Options over Ordinary Shares GB00B067JC96 | ||||
| b) | Nature of the transaction | Issue of options | ||||
| c) | Price(s) and volume(s) |
| ||||
| d) | Aggregated information - Aggregated volume - Price | 3,680,000 2p | ||||
| e) | Date of the transaction | 17 January 2025 | ||||
| f) | Place of the transaction | Outside of a trading venue | ||||
| 1 | Details of the person discharging managerial responsibilities/person closely associated | |||||
| a) | Name | Andrew Suckling | ||||
| 2 | Reason for the notification | |||||
| a) | Position / Status | Non-Executive Director | ||||
| b) | Initial notification / Amendment | Initial notification | ||||
| a) | Name | Cadence Minerals PLC | ||||
| b) | LEI | 213800TUZWG9C2GRNO58 | ||||
| a) | Description of the financial instrument Identification Code | Options over Ordinary Shares GB00B067JC96 | ||||
| b) | Nature of the transaction | Issue of options | ||||
| c) | Price(s) and volume(s) |
| ||||
| d) | Aggregated information - Aggregated volume - Price | 3,680,000 2p | ||||
| e) | Date of the transaction | 17 January 2025 | ||||
| f) | Place of the transaction | Outside of a trading venue | ||||
| 1 | Details of the person discharging managerial responsibilities/person closely associated | |||||
| a) | Name | Adrian Fairbourn | ||||
| 2 | Reason for the notification | |||||
| a) | Position / Status | Non-Executive Director | ||||
| b) | Initial notification / Amendment | Initial notification | ||||
| a) | Name | Cadence Minerals PLC | ||||
| b) | LEI | 213800TUZWG9C2GRNO58 | ||||
| a) | Description of the financial instrument Identification Code | Options over Ordinary Shares GB00B067JC96 | ||||
| b) | Nature of the transaction | Issue of options | ||||
| c) | Price(s) and volume(s) |
| ||||
| d) | Aggregated information - Aggregated volume - Price | 3,680,000 2p | ||||
| e) | Date of the transaction | 17 January 2025 | ||||
| f) | Place of the transaction | Outside of a trading venue |
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.