17 January 2022
Zinnwald Lithium plc
("Zinnwald Lithium" or the "Company")
Issuance of RSUs and Options
Zinnwald Lithium plc (AIM: ZNWD), the German focussed lithium development company, announces the grant of a total of 1,909,530 Restricted Share Units ("RSUs") and 4,000,000 Options under the Company's Long-Term Incentive Plans.
The RSUs being granted to Executive Management under the terms of the RSU Scheme, approved by shareholders in October 2020 as part of its reverse takeover transaction, relate to the first performance period that ran from 1 October 2020 to 31 December 2021. The RSUs will vest two years from the date of grant, being 15 January 2024, and the related shares (or cash alternative at the Company's discretion) will be issued on that date. Full details of the RSUs are set out in the Company's admission document dated 9 October 2020. The RSUs are being granted to Executive Management on the following basis:
| Name | Role | No of RSUs | Grant Date | Vesting Date |
| Anton du Plessis | CEO | 1,305,249 | 15 January 2022 | 15 January 2024 |
| Cherif Rifaat | CFO | 604,282 | 15 January 2022 | 15 January 2024 |
| Total | | 1,909,531 | | |
The 4,000,000 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 18.10p, being the closing share price on 14 January 2022. 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 Options | Issue Price | Grant Date | Expiry Date |
| Jeremy Martin | Non-Executive Chairman | 250,000 | £0.1810 | 15 January 2022 | 15 January 2027 |
| Graham Brown | Non-Executive Director | 150,000 | £0.1810 | 15 January 2022 | 15 January 2027 |
| Peter Secker | Non-Executive Director | 150,000 | £0.1810 | 15 January 2022 | 15 January 2027 |
| Employees and Consultants | 3,450,000 | £0.1810 | 15 January 2022 | 15 January 2027 | |
| Total | | 4,000,000 | | | |
On issuance of these awards, the total number of RSUs in issue will be 1,909,531 and the total number of Options will be 5,900,000, which represents a combined 2.66 per cent. of the Company's current issued share capital.
Change to Broker
The Company also announces that, with effect from 29 January 2022, Oberon Capital Limited shall be the sole broker for the Company on the expiry of a three month notice period with Turner Pope Investments (TPI) Ltd. The Company would like to thank Turner Pope for all their work as Broker since the Company's IPO on AIM in December 2017.
For further information contact:
| Anton du Plessis | Zinnwald Lithium plc | info@zinnwaldlithium.com |
| David Hart/Liz Kirchner | Allenby Capital Limited (Nominated Adviser) | +44 (0) 20 3328 5656 |
| Mike Seabrook / Robert Hayward / Chris Crawford | Oberon Capital (Joint Broker) | +44 (0) 20 3179 5344 +44 (0) 20 3179 5315 |
| James Pope/Andy Thacker | Turner Pope Investments (TPI) Ltd (Joint Broker) | +44 (0) 20 3657 0050 |
| Isabel de Salis/Frank Buhagiar | St Brides Partners (Financial PR) | info@stbridespartners.co.uk |
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, a late-stage development project with attractive economics and approved mining licence. A Feasibility Study, published in June 2019, highlighted a €428m pre-tax NPV, a pre-tax IRR of 27.4% and a 46% EBITDA margin for Zinnwald. The project is located in the heart of Europe's chemical and automotive industries and has the potential to be one of Europe's most advanced battery grade lithium projects.
| 1 | Details of the person discharging managerial responsibilities / person closely associated | ||||||||||
| a) | Name |
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| 2 | Reason for the notification | ||||||||||
| a) | Position/status | See 1a) | |||||||||
| b)
| Initial notification /Amendment | Initial notification | |||||||||
| 3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||||||||||
| a) | Name | Zinnwald Lithium plc | |||||||||
| b) | LEI | 213800LXW3HPZ7ZSBE37 | |||||||||
| 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 | RSUs in relation to ordinary shares of GBP0.01 each in Zinnwald Lithium plc (or cash alternative at the Company's discretion)
Identification code (ISIN) for Zinnwald Lithium plc ordinary shares: GB00BFN4GY99 | |||||||||
| b) | Nature of the transaction | Grant of RSUs
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| c) | Price(s) and volume(s) |
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| d) | Aggregated information - Aggregated volume - Price | n/a | |||||||||
| e) | Date of the transaction | 15 January 2022 | |||||||||
| f) | Place of the transaction | Outside a trading venue | |||||||||
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |||||||||||||
| a) | Name |
| ||||||||||||
| 2 | Reason for the notification | |||||||||||||
| a) | Position/status | See 1a) | ||||||||||||
| b)
| Initial notification /Amendment | Initial notification | ||||||||||||
| 3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||||||||
| a) | Name | Zinnwald Lithium plc | ||||||||||||
| b) | LEI | 213800LXW3HPZ7ZSBE37 | ||||||||||||
| 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 GBP0.01 each in Zinnwald Lithium plc
Identification code (ISIN) for Zinnwald Lithium plc ordinary shares: GB00BFN4GY99 | ||||||||||||
| b) | Nature of the transaction | Grant of options over ordinary shares
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| c) | Price(s) and volume(s) |
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| d) | Aggregated information - Aggregated volume - Price | n/a | ||||||||||||
| e) | Date of the transaction | 15 January 2022 | ||||||||||||
| f) | Place of the transaction | Outside a trading venue | ||||||||||||
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