Grant of Options

RNS Number : 4372Q

AfriTin Mining Ltd

18 October 2019

 

AfriTin Mining Limited

("AfriTin", "ATM" or the "Company"

and with its subsidiaries the "Group")

Grant of Options

AfriTin Mining Limited (AIM: ATM), a mining company with a portfolio of tin assets in Namibia and South Africa, announces the award of options over 21 930 000 ordinary shares in the capital of the Company to directors and certain key employees in the Group (the "New Options").

The options shall vest in three equal tranches at the 1st, 2nd and 3rd year anniversary of the grant (the date of grant being deemed to be today); and will have an exercise price of 3.75p, 4.5p and 5p for each tranche respectively. The options will all lapse after a period of 5 years.

The table below includes the allocation of share options to directors as well as Persons Discharging Managerial Responsibilities ("PDMRs"):

	Details of New Options				Total Options held including the New Options *
Director/PDMR	No of New Options - Tranche 1	No of New Options - Tranche 2	No of New Options - Tranche 3	No of New Options - Total
Glen Parsons (Chairman)	500 000	500 000	500 000	1 500 000	4 500 000
Terence Goodlace (NED)	500 000	500 000	500 000	1 500 000	4 000 000
Laurence Robb (NED)	500 000	500 000	500 000	1 500 000	4 000 000
Anthony Viljoen (CEO)	1 200 000	1 200 000	1 200 000	3 600 000	10 600 000
Roger Williams (NED)	500 000	500 000	500 000	1 500 000	4 000 000
Robert Sewell (CFO - PDMR)	800 000	800 000	800 000	2 400 000	5 873 684
Frans van Daalen (COO - PDMR)	800 000	800 000	800 000	2 400 000	8 400 000

* refer to announcement dated 23 May 2018 for further details of the options granted in addition to the New Options.

The total number of options outstanding is 61 061 574 which represents 9.48% of the current issued share capital of 644 201 599 ordinary shares.

The information contained within this announcement is deemed by the Company to constitute inside information under the Market Abuse Regulation (EU) No. 596/2014.

- End -

For further information, please visit www.afritinmining.com or contact:

AfriTin Mining Limited	[phone]
Anthony Viljoen, CEO
Nominated Adviser and Joint Broker	[phone]
WH Ireland Limited Katy Mitchell James Sinclair-Ford
Corporate Advisor and Joint Broker
H&P Advisory Limited Andrew Chubb Jay Ashfield Nilesh Patel	[phone]
Joint Broker	[phone]
NOVUM Securities Limited Jon Belliss
Tavistock Financial PR (United Kingdom)	[phone]
Jos Simson Barney Hayward

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	Glen Parsons
2	Reason for the notification
a)	Position/status	Chairman
b)	Initial notification/ Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	AfriTin Mining plc
b)	LEI	·      213800FKOXWBL6JBVH90
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	Ordinary share GG00BD95V148
b)	Nature of the transaction	Issue of options
c)	Price(s) and volume(s)	Exercise Price(s) Volume(s) 3.75 pence 4.5 pence 5.0 pence 500 000 500 000 500 000
d)	Aggregated information -    Aggregated volume -    Price	1,500,000 3.75p, 4.5p and 5p
e)	Date of the transaction	18/10/2019
f)	Place of the transaction	Off market

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Terence Goodlace
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	AfriTin Mining plc
b)	LEI	·      213800FKOXWBL6JBVH90
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	Ordinary share GG00BD95V148
b)	Nature of the transaction	Issue of options
c)	Price(s) and volume(s)	Exercise Price(s) Volume(s) 3.75 pence 4.5 pence 5.0 pence 500 000 500 000 500 000
d)	Aggregated information -     Aggregated volume -     Price	1,500,000 3.75p, 4.5p and 5p
e)	Date of the transaction	18/10/2019
f)	Place of the transaction	Off market

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Laurence Robb
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	AfriTin Mining plc
b)	LEI	·      213800FKOXWBL6JBVH90
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	Ordinary share GG00BD95V148
b)	Nature of the transaction	Issue of options
c)	Price(s) and volume(s)	Exercise Price(s) Volume(s) 3.75 pence 4.5 pence 5.0 pence 500 000 500 000 500 000
d)	Aggregated information -     Aggregated volume -     Price	1,500,000 3.75p, 4.5p and 5p
e)	Date of the transaction	18/10/2019
f)	Place of the transaction	Off market

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Anthony Viljoen
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	AfriTin Mining plc
b)	LEI	·      213800FKOXWBL6JBVH90
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	Ordinary share GG00BD95V148
b)	Nature of the transaction	Issue of options
c)	Price(s) and volume(s)	Exercise Price(s) Volume(s) 3.75 pence 4.5 pence 5.0 pence 1,200,000 1,200,000 1,200,000
d)	Aggregated information -     Aggregated volume -     Price	3,600,000 3.75p, 4.5p and 5p
e)	Date of the transaction	18/10/2019
f)	Place of the transaction	Off market

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Roger Williams
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	AfriTin Mining plc
b)	LEI	·      213800FKOXWBL6JBVH90
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	Ordinary share GG00BD95V148
b)	Nature of the transaction	Issue of options
c)	Price(s) and volume(s)	Exercise Price(s) Volume(s) 3.75 pence 4.5 pence 5.0 pence 500 000 500 000 500 000
d)	Aggregated information -     Aggregated volume -     Price	1,500,000 3.75p, 4.5p and 5p
e)	Date of the transaction	18/10/2019
f)	Place of the transaction	Off market

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Robert Sewell
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	AfriTin Mining plc
b)	LEI	·      213800FKOXWBL6JBVH90
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	Ordinary share GG00BD95V148
b)	Nature of the transaction	Issue of options
c)	Price(s) and volume(s)	Exercise Price(s) Volume(s) 3.75 pence 4.5 pence 5.0 pence 800,000 800,000 800,000
d)	Aggregated information -     Aggregated volume -     Price	2,400,000 3.75p, 4.5p and 5p
e)	Date of the transaction	18/10/2019
f)	Place of the transaction	Off market

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Frans van Daalen
2	Reason for the notification
a)	Position/status	Chief Operating Officer
b)	Initial notification/ Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	AfriTin Mining plc
b)	LEI	·      213800FKOXWBL6JBVH90
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	Ordinary share GG00BD95V148
b)	Nature of the transaction	Issue of options
c)	Price(s) and volume(s)	Exercise Price(s) Volume(s) 3.75 pence 4.5 pence 5.0 pence 800,000 800,000 800,000
d)	Aggregated information -     Aggregated volume -     Price	2,400,000 3.75p, 4.5p and 5p
e)	Date of the transaction	18/10/2019
f)	Place of the transaction	Off market

About AfriTin Mining Limited

Notes to Editors

AfriTin Mining is the first pure tin company listed in London and its vision is to create a portfolio of world-class, conflict-free, tin-producing assets. The Company's flagship asset is the Uis brownfield tin mine in Namibia, formerly the world's largest hard-rock tin mine.

AfriTin is managed by an experienced board of directors and management team with a current two-fold strategy: fast track Uis brownfield tin mine in Namibia to commercial production in Q2 2019 ramping up to 5,000 tonnes of concentrate, and consolidation of other quality African tin assets. The Company strives to capitalise on the solid supply/demand fundamentals of tin by developing a critical mass of tin resource inventory, achieving production in the near term and further scaling production by consolidating tin assets in Africa.

 

END

 

 

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