Source - RNS
RNS Number : 8535I
Stratex International PLC
02 September 2016
 

Stratex International Plc / Index: AIM / Epic: STI / Sector: Mining

 

Stratex International Plc

 

('Stratex' or 'the Company')

 

Issue of Share Options

                                                                                                                                         

Stratex International Plc, the AIM-quoted exploration and development company focused on gold and base metals in West Africa and Turkey, announces it has issued the following share options to its Directors and other employees as part of the Company's Enterprise Management Incentive ("EMI") Scheme.

 

The Remuneration Committee carried out its regular review of management remuneration at the beginning of the current financial year. They concluded that for the second year running no salary increases should be awarded due to the need to conserve cash in the present economic climate but, in recognition of the achievements in 2015, principally the start of production at the gold mine at Altıntepe, the following share options were granted on 2nd September 2016 with an exercise price of 1.95p being the middle market price at the time of grant. The options will vest in equal tranches over three years, on the anniversary of the grant date, and have an exercise period of 10 years.

 

Share options issued to directors:

                                    New options       Total unexercised options     Shares held

Christopher Hall            500,000                     3,500,000                         212,143

Perry Ashwood             500,000                     5,223,567                      1,744,485

Emma Priestley              500,000                     2,000,000                                      -

Peter Addison                500,000                     3,000,000                         217,857

 

In addition to the options issued to directors, Claire Bay, Group Manager - Corporate and Project Development, has been issued with 150,000 share options on the same terms of the above. As a result, she now holds a total of 440,000 unexpired options.

 

Furthermore, as announced at the time of his appointment to the Board (announcement dated 29th January 2016), 1,500,000 share options have now been awarded to Chris Worcester on the same terms as the above EMI option award. As result, he holds a total of 1,500,000 unexercised options.

 

As a result of the above award of options, the recently announced award of 6,000,000 options to Marcus Engelbrecht on his appointment as CEO of the Company (announcement dated 1st September 2016), and further awards to staff, the total number of unexercised share options outstanding at 2nd September 2016 is 30,005,144 representing in aggregate approximately 6% of the enlarged share capital of the Company.

 

* * ENDS * *

 

For further information please visit www.stratexinternational.com, email [email protected], or contact:

 

Stratex International Plc

Tel: +44 (0)20 7830 9650

Marcus Engelbrecht / Christopher Hall / Claire Bay

 

Grant Thornton UK LLP

Tel: +44 (0)20 7383 5100

Philip Secrett / Jen Clarke / Daniel Bush

 

Hannam & Partners

Tel: +44 (0)20 7907 8500

Neil Passmore

 

 

The information contained within this announcement was considered to be inside information, for the purposes of Article 7 of EU Regulation 596/2014, prior to its release.

           

Notes to Editors:

 

Since listing in 2006, Stratex has discovered more than 2.2 million ounces of gold and 7.09 million ounces of silver, as well as 186,000 tonnes of copper. The Company achieved first gold pour at its 45%-owned Altıntepe gold mine in Turkey in November 2015 and as at 30 June 2016, the Mine had generated revenues of US$33.39 million. It also owns 30% of a copper-gold project at feasibility stage. With its current cash position, projected cash returns and no debt, the Company is well-placed to advance its existing exploration programmes and is also actively seeking to acquire advanced projects that are at the drill-ready stage or even have identified resources.

 

The notifications below are made in accordance with the requirements of the EU regulation on market abuse.

 

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

 

 

 

 Christopher Hall

2

 

Reason for the notification

 

a)

 

Position/status

 

 

 

Non-executive Chairman

b)

 

Initial notification /Amendment

 

 

 

Initial notification

3

 

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

 

a)

 

Name

 

 

 

Stratex International PLC

b)

 

LEI

 

 

 

213800X32GJR5AGAR511

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

 

 

Share options

 

 

Ordinary share ISIN: GB00B0T29327

b)

 

Nature of the transaction

 

 

Grant of options over the ordinary share capital of the Company

c)

 

Price(s) and volume(s)

 

 

Price(s)

Volume(s)

1.95 pence exercise price

500,000

d)

 

Aggregated information

- Aggregated volume

 

- Price

 

 

500,000

 

1.95 pence exercise price

 

e)

 

Date of the transaction

 

2nd September 2016

f)

 

Place of the transaction

 

London, UK

 

 

 

1

 

Details of the person discharging managerial responsibilities / person closely associated

 

a)

 

Name

 

 

 

Perry Ashwood

2

 

Reason for the notification

 

a)

 

Position/status

 

 

 

Chief Financial Officer

b)

 

Initial notification /Amendment

 

 

 

Initial notification

3

 

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

 

a)

 

Name

 

 

 

Stratex International PLC

b)

 

LEI

 

 

 

213800X32GJR5AGAR511

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

 

 

Share options

 

 

Ordinary share ISIN: GB00B0T29327

b)

 

Nature of the transaction

 

 

Grant of options over the ordinary share capital of the Company

c)

 

Price(s) and volume(s)

 

 

Price(s)

Volume(s)

1.95 pence exercise price

500,000

d)

 

Aggregated information

- Aggregated volume

 

- Price

 

 

500,000

 

1.95 pence exercise price

 

e)

 

Date of the transaction

 

2nd September 2016

f)

 

Place of the transaction

 

London, UK

 

 

1

 

Details of the person discharging managerial responsibilities / person closely associated

 

a)

 

Name

 

 

 

 Emma Priestley

2

 

Reason for the notification

 

a)

 

Position/status

 

 

 

Director

b)

 

Initial notification /Amendment

 

 

 

Initial notification

3

 

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

 

a)

 

Name

 

 

 

Stratex International PLC

b)

 

LEI

 

 

 

213800X32GJR5AGAR511

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

 

 

Share options

 

 

Ordinary share ISIN: GB00B0T29327

b)

 

Nature of the transaction

 

 

Grant of options over the ordinary share capital of the Company

c)

 

Price(s) and volume(s)

 

 

Price(s)

Volume(s)

1.95 pence exercise price

500,000

d)

 

Aggregated information

- Aggregated volume

 

- Price

 

 

500,000

 

1.95 pence exercise price

 

e)

 

Date of the transaction

 

2nd September 2016

f)

 

Place of the transaction

 

London, UK

 

1

 

Details of the person discharging managerial responsibilities / person closely associated

 

a)

 

Name

 

 

 

 Peter Addison

2

 

Reason for the 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

 

 

 

Stratex International PLC

b)

 

LEI

 

 

 

213800X32GJR5AGAR511

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

 

 

Share options

 

 

Ordinary share ISIN: GB00B0T29327

b)

 

Nature of the transaction

 

 

Grant of options over the ordinary share capital of the Company

c)

 

Price(s) and volume(s)

 

 

Price(s)

Volume(s)

1.95 pence exercise price

500,000

d)

 

Aggregated information

- Aggregated volume

 

- Price

 

 

500,000

 

1.95 pence exercise price

 

e)

 

Date of the transaction

 

2nd September 2016

f)

 

Place of the transaction

 

London, UK

 

 

1

 

Details of the person discharging managerial responsibilities / person closely associated

 

a)

 

Name

 

 

 

Claire Bay

2

 

Reason for the notification

 

a)

 

Position/status

 

 

 

Group Manager - Corporate and Project Development

b)

 

Initial notification /Amendment

 

 

 

Initial notification

3

 

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

 

a)

 

Name

 

 

 

Stratex International PLC

b)

 

LEI

 

 

 

213800X32GJR5AGAR511

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

 

 

Share options

 

 

Ordinary share ISIN: GB00B0T29327

b)

 

Nature of the transaction

 

 

Grant of options over the ordinary share capital of the Company

c)

 

Price(s) and volume(s)

 

 

Price(s)

 

Volume(s)

1.95 pence exercise price

150,000

d)

 

Aggregated information

- Aggregated volume

 

- Price

 

 

150,000

 

1.95 pence exercise price

 

e)

 

Date of the transaction

 

2nd September 2016

f)

 

Place of the transaction

 

London, UK

 

1

 

Details of the person discharging managerial responsibilities / person closely associated

 

a)

 

Name

 

 

 

 Chris Worcester

2

 

Reason for the 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

 

 

 

Stratex International PLC

b)

 

LEI

 

 

 

213800X32GJR5AGAR511

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

 

 

Share options

 

 

Ordinary share ISIN: GB00B0T29327

b)

 

Nature of the transaction

 

 

Grant of options over the ordinary share capital of the Company

c)

 

Price(s) and volume(s)

 

 

Price(s)

 

Volume(s)

1.95 pence exercise price

1,500,000

d)

 

Aggregated information

- Aggregated volume

 

- Price

 

 

1,500,000

 

1.95 pence exercise price

 

e)

 

Date of the transaction

 

2nd September 2016

f)

 

Place of the transaction

 

London, UK

1

 

Details of the person discharging managerial responsibilities / person closely associated

 

a)

 

Name

 

 

 

 Marcus Engelbrecht

2

 

Reason for the notification

 

a)

 

Position/status

 

 

 

Chief Executive Officer

b)

 

Initial notification /Amendment

 

 

 

Initial notification

3

 

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

 

a)

 

Name

 

 

 

Stratex International PLC

b)

 

LEI

 

 

 

213800X32GJR5AGAR511

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

 

 

Share options

 

 

Ordinary share ISIN: GB00B0T29327

b)

 

Nature of the transaction

 

 

Grant of options over the ordinary share capital of the Company

c)

 

Price(s) and volume(s)

 

 

Price(s)

Volume(s)

1.78 pence exercise price

6,000,000

d)

 

Aggregated information

- Aggregated volume

 

- Price

 

 

6,000,000

 

1.78 pence exercise price

 

e)

 

Date of the transaction

 

1st  September 2016

f)

 

Place of the transaction

 

London, UK

 

 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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