THIS 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.
25 March 2024
Capital Metals
plc
("Capital
Metals" or the "Company")
Grant of Share
Options
Capital 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 750,000 ordinary shares
to a Director as set out below (the "Options").
Following this announcement, and the
cancellation of 500,000 historical share options, the Company now
has a total of 14,800,000 share options in issue, representing
approximately 4.1% of the fully diluted share capital of the
Company. In addition, there are 2,568,627 warrants
outstanding.
Schedule of Directors Options
|
DIRECTOR
|
ROLE
|
DATE OF
GRANT
|
NO. OPTIONS
GRANTED
|
EXERCISE
PRICE
|
VESTING
CONDITIONS
|
EXPIRY DATE
|
|
Kwan Wey Teh
|
Non-Executive Director
|
25 March
2024
|
750,000
|
5p
|
See *Note
1
|
25 March
2029
|
*Note 1: One-third of the Options
granted to Kwan Wey Teh shall vest immediately, and one-third shall
vest on each of the following two anniversaries of the date of
grant.
500,000 options which had previously
been granted to Kwan Wey Teh have been cancelled with immediate
effect.
Related Party Transaction
The issue of the Options to Mr Teh
have been treated as related party transactions under AIM Rule
13.
As a recipient of the Options, Mr
Teh is not independent and has not taken part in the Board's
consideration of the Option grant. Greg Martyr and James Leahy are
the independent directors for this purpose. The independent
director considers, having consulted with SPARK Advisory Partners
Limited, the Company's nominated adviser, that the terms of the
Option grant to Mr Teh are fair and reasonable insofar as the
Company's shareholders are concerned.
For further information,
please visit www.capitalmetals.com
or contact:
|
Capital Metals plc
Greg Martyr (Executive
Chairman)
|
Via Vigo Consulting
|
|
Vigo Consulting (Investor Relations)
Ben Simons / Peter Jacob
|
+44 (0)20 7390 0234
capitalmetals@vigoconsulting.com
|
|
SPARK Advisory Partners (Nominated Adviser)
Neil Baldwin / James
Keeshan
|
+44 (0)20 3368 3554
|
|
Tavira Financial
Jonathan Evans / Oliver
Stansfield
|
+44 (0)20 7100 5100
|
About Capital Metals
Capital Metals plc is a British
company quoted on the AIM segment of the London Stock Exchange and
one of only a few foreign investors in Sri Lanka's mining industry.
After investing US$11 million in exploration and development
activities including detailed environmental assessments between
2017 and 2022, the Company's Sri Lankan subsidiary, Damsila Exports
(Pvt) Limited, was issued an initial two licences in August 2022 to
mine heavy mineral sands in the Eastern Province, containing
industrial minerals including ilmenite, rutile, zircon, and
garnet.
Appendix - Notification and public disclosure of transactions
by persons discharging managerial responsibilities and persons
closely associated with them.
|
1.
|
Details of the person discharging managerial
responsibilities/person closely associated
|
|
a)
|
Name
|
Kwan Wey Teh
|
|
2.
|
Reason for notification
|
|
|
a)
|
Position/Status
|
Non-Executive Director
|
|
b)
|
Initial notification/
Amendment
|
Initial notification
|
|
3.
|
Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
|
|
a)
|
Name
|
Capital Metals plc
|
|
b)
|
LEI
|
213800RR4MW1ETEMS859
|
|
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 financial
instrument, type of instrument
Identification Code
|
Options over ordinary shares of 0.2
pence per share par value
ISIN: GB00BMF75608
|
|
b)
|
Nature of the transaction
|
Grant of options over ordinary
shares
|
|
c)
|
Price(s) and volume(s)
|
|
|
Price(s)
|
Volume(s)
|
|
5p
|
750,000
|
|
|
|
|
|
|
|
d)
|
Aggregated information
- Aggregated Volume
- Price
|
Single transaction as in 4 c)
above
|
Price(s)
|
Volume(s)
|
|
5p
|
750,000
|
|
|
e)
|
Date of the transaction
|
25 March 2024
|
|
f)
|
Place of the transaction
|
Outside a trading venue
|