TIDMZNWD
RNS Number : 6120Z
Zinnwald Lithium PLC
15 January 2024
15 January 2024
Zinnwald Lithium plc
("Zinnwald Lithium" or the "Company")
Issuance of Share Incentive Awards and Vesting of RSUs
Zinnwald Lithium plc (AIM: ZNWD), the German focussed lithium
development company, announces the grant of a total of 4,228,475
Restricted Share Units ("RSUs") and 4,350,000 Options under the
Company's Long-Term Incentive Plans relating to performance in
2023, and a total of 4,500,000 Performance Share Units ("PSUs")
relating to performance from 1 October 2020 to 31 December 2023.
The Company also announces the issuance of 1,012,051 new shares in
relation to the vesting of RSUs granted in January 2022.
The RSUs being granted to Executive Management under the terms
of the RSU Scheme, approved by shareholders in October 2020, relate
to the performance period that ran from 1 January 2023 to 31
December 2023. The RSUs will vest two years from the date of grant,
being 15 January 2026, and the related shares (or cash alternative
at the Company's discretion) will be issued on that date. The RSUs
are being granted to Executive Management on the following
basis:
Name Role No of RSUs Grant Date Vesting Date
Anton du CEO 2,306,441 15 January 2024 15 January 2026
Plessis
Cherif Rifaat CFO 1,922,034 15 January 2024 15 January 2026
Total 4,228,475
----------------------- ----------- ---------------- ----------------
The Options have been granted to employees, consultants and
Directors under the terms of the Scheme put in place at the time of
the Company's original IPO in 2017. These Options to acquire
ordinary shares in the capital of the Company have been granted at
a price of 6.75p being the price at close on 12 January 2024. Such
options vest as to 1/3 on the date of grant and an additional 1/3
on each of the first and second anniversaries of the date of grant
and are exercisable for a period of five years. The Options are
being granted on the following basis:
Name Role No of Issue Grant Date Expiry Date
Options Price
Jeremy Martin Non-executive 350,000 GBP0.0675 15 January 15 January
Chairman 2024 2029
Graham Brown Non-executive 250,000 GBP0.0675 15 January 15 January
Director 2024 2029
Peter Secker Non-executive 250,000 GBP0.0675 15 January 15 January
Director 2024 2029
Employees and Consultants 3,500,000 GBP0.0675 15 January 15 January
2024 2029
Total 4,350,000
-------------------------------- ---------- ---------- ----------- ------------
The PSUs being granted to Executive Management under the terms
of the PSU Scheme, approved by shareholders in October 2020, relate
to the performance period that ran from 1 October 2020 to 31
December 2023. The PSUs will vest two years from the date of grant,
being 15 January 2026. The PSUs are being granted to Executive
Management on the following basis:
Name Role No of PSUs Grant Date Vesting Date
Anton du CEO 3,000,000 15 January 2024 15 January 2026
Plessis
Cherif Rifaat CFO 1,500,000 15 January 2024 15 January 2026
Total 4,500,000
----------------------- ----------- ---------------- ----------------
Issue of Equity & Total Voting Rights
The first tranche of 1,909,531 RSUs originally issued in January
2022 have now reached their vesting date, and in accordance with
the rules of the scheme will vest at a price of 7.11p being the 20
Day VWAP price at close on 12 January 2024. At its discretion, the
Board has elected to pay the net amount due after tax under these
awards in shares rather than cash. Accordingly, 691,782 shares will
be issued to Anton du Plessis and 320,269 shares will be issued to
Cherif Rifaat.
Application has been made for the 1,012,051 new ordinary shares
to be admitted to trading on AIM ("Admission"). Admission is
expected to occur on or around 18 January 2024. These new ordinary
shares will rank pari passu with the existing ordinary shares in
issue. Following admission of the new ordinary shares, there will
be 474,536,675 ordinary shares in issue. This number may be used by
shareholders in the Company as the denominator for the calculations
by which they will determine if they are required to notify their
interest in, or a change in their interest in, the share capital of
the Company.
On issuance of the Incentive awards and vesting of RSUs, the
total number of RSUs in issue will be 7,635,254, the total number
of Options will be 11,000,000 and the total number of PSUs will be
4,500,000.
For further information contact:
Anton du Plessis Zinnwald Lithium plc info@zinnwaldlithium.com
David Hart Allenby Capital Limited
Dan Dearden-Williams (Nominated Adviser) +44 (0) 20 3328 5656
------------------------------- --------------------------------
Mike Seabrook Oberon Capital +44 (0) 20 3179 5344
Adam Pollock (Joint Broker) +44 (0) 20 3179 5315
------------------------------- --------------------------------
Richard Greenfield Tamesis Partner LLP
Charles Bendon (Co-Broker to the Placing) +44 (0) 20 3882 2868
------------------------------- --------------------------------
Isabel de Salis St Brides Partners (Financial zinnwald@stbridespartners.co.uk
Paul Dulieu PR)
------------------------------- --------------------------------
Notes
Zinnwald Lithium plc (EPIC: ZNWD.L) is an AIM quoted, German
focused lithium development company focussed on becoming an
important supplier to Europe's fast-growing battery sector. The
Company owns the Zinnwald Lithium Project in Germany, an advanced
development project with attractive economics and approved mining
licence. Its PEA, published in September 2022 highlighted the
positive economics of the Project with a Pre-tax NPV8 of US$1,605m,
IRR of 39.0%, $192m EBITDA and a payback of just 3.3 years. The
Project is located in the heart of Europe's chemical and automotive
industries and has the potential to be one of Europe's more
advanced battery grade lithium projects.
Details of the person discharging managerial responsibilities
1 / person closely associated
a) Name Name Position
Anton du Plessis CEO
---------
Cherif Rifaat CFO
---------
--------------------------- -------------------------------------------
Reason for the notification
2
------------------------------------------------------------------------
a) Position/status See 1a)
--------------------------- -------------------------------------------
b) Initial notification Initial notification
/Amendment
--------------------------- -------------------------------------------
Details of the issuer, emission allowance market participant,
3 auction platform, auctioneer or auction monitor
------------------------------------------------------------------------
a) Name Zinnwald Lithium plc
--------------------------- -------------------------------------------
b) LEI 213800LXW3HPZ7ZSBE37
--------------------------- -------------------------------------------
Details of the transaction(s): section to be repeated for
4 (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 RSUs in relation to ordinary shares
financial instrument, of GBP0.01 each in Zinnwald Lithium
type of instrument plc (or cash alternative at the Company's
Identification code discretion)
Identification code (ISIN) for Zinnwald
Lithium plc ordinary shares: GB00BFN4GY99
--------------------------- -------------------------------------------
b) Nature of the transaction Grant of RSUs
--------------------------- -------------------------------------------
c) Price(s) and volume(s) Name Price(s) Volume(s)
Anton du Plessis n/a 2,306,441
Cherif Rifaat n/a 1,922,034
---------- ----------
--------------------------- -------------------------------------------
d) Aggregated information n/a
- Aggregated volume
- Price
--------------------------- -------------------------------------------
e) Date of the transaction 15 January 2024
--------------------------- -------------------------------------------
f) Place of the transaction Outside a trading venue
--------------------------- -------------------------------------------
a) Description of the PSUs in relation to ordinary shares
financial instrument, of GBP0.01 each in Zinnwald Lithium
type of instrument plc (or cash alternative at the Company's
discretion)
Identification code Identification code (ISIN) for Zinnwald
Lithium plc ordinary shares: GB00BFN4GY99
--------------------------- -------------------------------------------
b) Nature of the transaction Grant of PSUs
--------------------------- -------------------------------------------
c) Price(s) and volume(s) Name Price(s) Volume(s)
Anton du Plessis n/a 3,000,000
Cherif Rifaat n/a 1,500,000
---------- ----------
--------------------------- -------------------------------------------
d) Aggregated information n/a
- Aggregated volume
- Price
--------------------------- -------------------------------------------
e) Date of the transaction 15 January 2024
--------------------------- -------------------------------------------
f) Place of the transaction Outside a trading venue
--------------------------- -------------------------------------------
a) Description of the Ordinary shares of GBP0.01 each in
financial instrument, Zinnwald Lithium plc
type of instrument Identification code (ISIN) for Zinnwald
Identification code Lithium plc ordinary shares: GB00BFN4GY99
--------------------------- -------------------------------------------
b) Nature of the transaction Vesting of RSUs into Ordinary Shares
--------------------------- -------------------------------------------
c) Price(s) and volume(s) Name Price(s) Volume(s)
Anton du Plessis 7.11p 691,782
Cherif Rifaat 7.11p 320,269
--------- ----------
--------------------------- -------------------------------------------
d) Aggregated information
- Aggregated volume 1,012,051
- Price 7.11p
-------------------------------- -------------------------------------------
e) Date of the transaction 15 January 2024
--------------------------- -------------------------------------------
f) Place of the transaction Outside a trading venue
--------------------------- -------------------------------------------
Details of the person discharging managerial responsibilities
1 / person closely associated
a) Name Name Position
Jeremy Martin Non-Executive Chairman
-----------------------
Graham Brown Non-Executive Director
-----------------------
Peter Secker Non-Executive Director
-----------------------
-------------------------- -------------------------------------------
Reason for the notification
2
-----------------------------------------------------------------------
a) Position/status See 1a)
-------------------------- -------------------------------------------
b) Initial notification Initial notification
/Amendment
-------------------------- -------------------------------------------
Details of the issuer, emission allowance market participant,
3 auction platform, auctioneer or auction monitor
-----------------------------------------------------------------------
a) Name Zinnwald Lithium plc
-------------------------- -------------------------------------------
b) LEI 213800LXW3HPZ7ZSBE37
-------------------------- -------------------------------------------
Details of the transaction(s): section to be repeated for
4 (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 Options over ordinary shares of GBP0.01
financial instrument, each in Zinnwald Lithium plc
type of instrument
Identification code Identification code (ISIN) for Zinnwald
Lithium plc ordinary shares: GB00BFN4GY99
-------------------------- -------------------------------------------
b) Nature of the transaction Grant of options over ordinary shares
-------------------------- -------------------------------------------
c) Price(s) and volume(s) Name Price(s) Volume(s)
Jeremy Martin 6.75p 350,000
Graham Brown 6.75p 250,000
Peter Secker 6.75p 250,000
--------- ----------
-------------------------- -------------------------------------------
d) Aggregated information n/a
- Aggregated volume
- Price
-------------------------- -------------------------------------------
e) Date of the transaction 15 January 2024
-------------------------- -------------------------------------------
f) Place of the transaction Outside a trading venue
-------------------------- -------------------------------------------
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END
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