TIDMEUA
RNS Number : 1161F
Eurasia Mining PLC
02 November 2022
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS DEFINED IN
REGULATION NO. 596/2014 (AS IT FORMS PART OF RETAINED EU LAW AS
DEFINED IN THE EUROPEAN UNION (WITHDRAWAL) ACT 2018) AND IS IN
ACCORDANCE WITH THE COMPANY'S OBLIGATIONS UNDER ARTICLE 7 OF THAT
REGULATION.
2 November 2022
Eurasia Mining Plc
Extension of Company Options
Eurasia Mining plc ("Eurasia" or the "Company"), the palladium,
platinum, rhodium, iridium and gold producing company, announces
that it has extended the expiry date on a class of share options
which were granted to certain Directors, employees and a
substantial shareholder on 2 November 2018 with a three-year
term.
The expiry date on 151,000,000 share options, with a range of
exercise prices (the "Options") has been extended for a period of
six months from 2 November 2022 to 2 May 2023 (the "Options
Extension")
Related Party Transaction
As 40,000,000 of the Options are held by Christian
Schaffalitzky, the Company's Executive Chairman and Dmitry Suschov,
a substantial shareholder in the Company (the "Related Parties"),
the Options Extension constitutes a related party transaction under
Rule 13 of the AIM Rules.
The Options which are held by the Related Parties are summarised
in the table below:
Related Party Options exercisable Options exercisable Options exercisable Total Options
at 0.42 pence at 0.60 pence at 0.90 pence
expiring 2 expiring 2 expiring 2
May 2023 May 2023 May 2023
Christian
Schaffalitzky 10,000,000 5,000,000 5,000,000 20,000,000
-------------------- -------------------- -------------------- --------------
Dmitry Suschov 10,000,000 5,000,000 5,000,000 20,000,000
-------------------- -------------------- -------------------- --------------
Accordingly, the Company's directors who are independent of the
Options Extension (being all directors with the exception of
Christian Schaffalitzky) consider, having consulted with the
Company's nominated adviser, that the terms of the Options
Extension are fair and reasonable insofar as shareholders of the
Company are concerned.
Outstanding Options and Warrants
As a result of the Options Extension, the Company has the
following outstanding share options and warrants:
-- 62,000,000 options exercisable at 0.42 pence, expiring on 2 May 2023;
-- 47,000,000 options exercisable at 0.60 pence, expiring on 2 May 2023;
-- 42,000,000 options exercisable at 0.90 pence, expiring on 2 May 2023;
-- 53,306,751 warrants exercisable at 26.5 pence, expiring 20 May 2024; and
-- 41,551,563 warrants exercisable at 26.0 pence, expiring 20 September 2024.
A copy of this announcement is also available on Eurasia's
website at:
https://www.eurasiamining.co.uk/investors/news-announcements
For further information, please contact:
Eurasia Mining Plc +44 (0) 20 7932 0418
Christian Schaffalitzky / Keith
Byrne
SP Angel (Nominated Advisor and
Joint Broker)
Jeff Keating / David Hignell /
Adam Cowl +44 (0) 20 3470 0470
Optiva Securities (Joint Broker)
Christian Dennis +44 (0) 20 3137 1902
Eurasia Mining plc is a PGM and battery metals producing
company, operating the established West Kytlim Mine in the Urals,
and also being the operator of the Monchetundra Project comprising
two predominantly palladium open pit deposits located 3km away from
Severonickel, one of Norilsk Nickel's largest base metals and PGM
processing facilities, near the town of Monchegorsk on the Kola
Peninsula.
Eurasia's project portfolio also includes
Nittis-Kumuzhya-Travyanaya (NKT), Tier-1 scale Nickel mine formerly
operated by Norilsk Nickel.
A parallel business development strategy based on the Hydrogen
Economy forms a new development arm of the Company.
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END
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November 02, 2022 10:41 ET (14:41 GMT)
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