Blencowe Resources PLC Issue of Options (0763W)
December 17 2021 - 8:04AM
UK Regulatory
TIDMBRES
RNS Number : 0763W
Blencowe Resources PLC
17 December 2021
Date: 17 December 2021
Blencowe Resources Plc
("Blencowe" or the "Company")
Issue of Options
Blencowe Resources (LSE:BRES), the natural resources company
focussed on the development of the Orom-Cross Graphite Project in
Uganda, reports the issue of options to directors and senior
management.
Given the stage of development of the Company and to further
align Directors and Senior Management with shareholders, the
Company now announces the grant of 6 million options as set out
below, at 6p per share, for a period of five years.
These options will not vest unless the share price of the
Company trades in excess of 10p per share for 10 consecutive
days.
In addition, the options granted to the CEO and COO will only
vest on delivery of a pre-feasibility study.
Cameron Pearce (Chairman) 1,500,000 GBP0.06
Mike Ralston (CEO) 1,500,000 GBP0.06
---------- --------
Iain Wearing (COO) 1,500,000 GBP0.06
---------- --------
Lionshead Consultants Ltd (Sam Quinn) 1,000,000 GBP0.06
(Non Exec Director)
---------- --------
Alexander Passmore (Non Exec Director) 500,000 GBP0.06
---------- --------
For further information please contact:
Blencowe Resources Plc www.blencoweresourcesplc.com
Sam Quinn (London Director) Tel: +44 (0)1624 681 250
info@blencoweresourcesplc.com
Investor Enquiries Tel: +44 (0) 7891 677 441
Sasha Sethi Email: sasha@flowcomms.com
Brandon Hill Capital Limited Tel: +44 (0)20 3463 5000
Jonathan Evans (Corporate Finance) jonathan.evans@brandonhillcapital.com
First Equity Limited Tel: +44(0)20 7330 1833
Jason Robertson jasonrobertson@firstequitylimited.com
Background
Orom-Cross is a potential world class graphite project both by
size and end-product quality, with a high component of more
valuable larger flakes within the deposit. A 21-year Mining Licence
for the project was issued by the Ugandan Government in 2019
following extensive historical work on the deposit and Blencowe is
moving into the studies phase shortly as it drives towards first
production.
Orom-Cross presents as a large, shallow open-pitable deposit,
with a maiden JORC Indicated & Inferred Mineral Resource
deposit of 16.3Mt @ 6.0% Total Graphite Content. Development of the
resource is expected to benefit from a low strip ratio and free dig
operations, thereby ensuring lower operating and capital costs.
The Notification of Dealing Form provided in accordance with the
requirements of the Market Abuse Regulation in relation to the
transaction listed above is set out below.
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name 1. Cameron Pearce
2. Mike Ralston
3. Alexander Passmore
4. Lionshead Consultants (S Quinn)
5. Iain Wearing
-------------------------------- -------------------------------------------------
2 Reason for the notification
-----------------------------------------------------------------------------------
a) Position/status 1. Director
2. Manager
3. Director
4. Director
5. Manager
-------------------------------- -------------------------------------------------
b) Initial notification Initial Notification
/Amendment
-------------------------------- -------------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-----------------------------------------------------------------------------------
a) Name Blencowe Resources PLC
-------------------------------- -------------------------------------------------
b) LEI 213800UXIHBIRK36GG11
-------------------------------- -------------------------------------------------
4 Details of the transaction(s): section to be repeated
for (i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions
have been conducted
-----------------------------------------------------------------------------------
a) Description of the Ordinary shares
financial instrument,
type of instrument
Identification code GB00BFCMVS34
b) Nature of the transaction Share Options
-------------------------------- -------------------------------------------------
c) Price(s) and volume(s)
--------------------- ---------------
Price(s) Volume(s)
--------------------- ---------------
1. 0.06 1,500,000
2. 0.06 1,500,000
3. 0.06 500,000
4. 0.06 1,000,000
5. 0.06 1,500,000
----------------------------------------------------------------- ---------------
d) Aggregated information
- Aggregated volume N/A
- Price GBP0.06
e) Date of the transaction 16/12/2021
-------------------------------- -------------------------------------------------
f) Place of the transaction London Stock Exchange
-------------------------------- -------------------------------------------------
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END
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