Cadence Minerals Plc
("Cadence Minerals", "Cadence" or "the Company")
Issue of Options
Cadence Minerals (AIM/NEX: KDNC; OTC: KDNCY) announces the award of 7,200,000 share options ("Share Options"). Each Share Option is exercisable over one ordinary share in the capital of the Company ("the "Ordinary Shares"). The Share Options are exercisable at a price of 29 pence per share being a 22% premium to the closing price of the Ordinary Shares on 29 April 2021 of 23.75 pence. These options will vest immediately and will expire on 30 April 2026.
The total options granted over Ordinary Shares to Persons Discharging Managerial Responsibilities within the Company (each being a "PDMR") are detailed below:
| Director, PDMR | Position | Options |
| Andrew Suckling | Non-Executive Chairman | 1,800,000 |
| Kiran Morzaria | Chief Executive Officer | 1,800,000 |
| Donald Strang | Finance Director | 1,800,000 |
| Adrian Fairbourn | Non-Executive Director | 1,800,000 |
The Share Options represent in aggregate 4.8% of the existing issued share capital. There are currently no other options outstanding.
The Directors of the Company accept responsibility for the contents of this announcement.
- Ends -
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.
| For further information:
| |
| Cadence Minerals plc | +44 (0) 7879 584153 |
| Andrew Suckling | |
| Kiran Morzaria | |
| | |
| WH Ireland Limited (NOMAD & Broker) | +44 (0) 207 220 1666 |
| James Joyce | |
| James Sinclair-Ford | |
| | |
| Novum Securities Limited (Joint Broker) | +44 (0) 207 399 9400 |
| Jon Belliss | |
| | |
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
| Kiran Morzaria | ||||
| 2 | Reason for the notification | |||||
| a) | Position / Status
| CEO | ||||
| b) | Initial notification / Amendment
| Initial notification | ||||
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| |||||
| a) | Name
| Cadence Minerals PLC | ||||
| b) | LEI
| 213800TUZWG9C2GRNO58 | ||||
| 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
Identification Code
| Options over Ordinary Shares
GB00BJP0B151 | ||||
| b) | Nature of the transaction
| Issue of options | ||||
| c) | Price(s) and volume(s)
|
| ||||
| d) | Aggregated information
- Aggregated volume
- Price
|
1,800,000
29.0p | ||||
| e) | Date of the transaction
| 29 April 2021 | ||||
| f) | Place of the transaction
| Outside of a trading venue | ||||
| 1 | Details of the person discharging managerial responsibilities/person closely associated
| |||||
| a) | Name
| Donald Strang | ||||
| 2 | Reason for the notification | |||||
| a) | Position / Status
| Finance Director | ||||
| b) | Initial notification / Amendment
| Initial notification | ||||
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| |||||
| a) | Name
| Cadence Minerals PLC | ||||
| b) | LEI
| 213800TUZWG9C2GRNO58 | ||||
| 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
Identification Code
| Options over Ordinary Shares
GB00BJP0B151 | ||||
| b) | Nature of the transaction
| Issue of options | ||||
| c) | Price(s) and volume(s)
|
| ||||
| d) | Aggregated information
- Aggregated volume
- Price
|
1,800,000
29.0p | ||||
| e) | Date of the transaction
| 29 April 2021 | ||||
| f) | Place of the transaction
| Outside of a trading venue | ||||
| 1 | Details of the person discharging managerial responsibilities/person closely associated
| |||||
| a) | Name
| Andrew Suckling | ||||
| 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
| Cadence Minerals PLC | ||||
| b) | LEI
| 213800TUZWG9C2GRNO58 | ||||
| 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
Identification Code
| Options over Ordinary Shares
GB00BJP0B151 | ||||
| b) | Nature of the transaction
| Issue of options | ||||
| c) | Price(s) and volume(s)
|
| ||||
| d) | Aggregated information
- Aggregated volume
- Price
|
1,800,000
29.0p | ||||
| e) | Date of the transaction
| 29 April 2021 | ||||
| f) | Place of the transaction
| Outside of a trading venue | ||||
| 1 | Details of the person discharging managerial responsibilities/person closely associated
| |||||
| a) | Name
| Adrian Fairbourn | ||||
| 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
| Cadence Minerals PLC | ||||
| b) | LEI
| 213800TUZWG9C2GRNO58 | ||||
| 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
Identification Code
| Options over Ordinary Shares
GB00BJP0B151 | ||||
| b) | Nature of the transaction
| Issue of options | ||||
| c) | Price(s) and volume(s)
|
| ||||
| d) | Aggregated information
- Aggregated volume
- Price
|
1,800,000
29.0p | ||||
| e) | Date of the transaction
| 29 April 2021 | ||||
| f) | Place of the transaction
| Outside of a trading venue | ||||
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