Exercise of Options/PDMR Dealing

RNS Number : 2050T

Beowulf Mining PLC

10 October 2017

 

The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations ("MAR") (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

For the purposes of MAR and Article 2 of Commission Implementing Regulation (EU) 2016/1055, this announcement is being made on behalf of Kurt Budge, Chief Executive Officer. 

10 October 2017

Beowulf Mining plc

("Beowulf" or the "Company")

Exercise of Options/PDMR Dealing

Beowulf (AIM: BEM; AktieTorget: BEO), the mineral exploration and development company, focused on the Kallak magnetite iron ore project and the Åtvidaberg polymetallic exploration licence in Sweden, and its graphite portfolio in Finland, announces that it has received an exercise notice from Bevan Metcalf (Non-Executive Chairman), a person discharging managerial responsibilities ("PDMR"), over 8,500,000 new ordinary shares of 1p per share in the Company (the "Option Shares").

Of the Option Shares 8,000,000 were exercised at 1.66p and 500,000 were exercised at 4p for a total consideration of £152,800. Application has been made for the Option Shares to be admitted to trading on AIM and it is expected that admission will take place on 16th October 2017 ("Admission").

The Option Shares will rank pari passu with the existing ordinary shares of the Company. Following Admission of the Option Shares, the Company's enlarged issued share capital will comprise 534,207,254 ordinary shares with voting rights. This figure 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 under the Financial Conduct Authority's Disclosure and Transparency Rules.

The notification below, made in accordance with the requirements of the EU Market Abuse Regulation, provides additional detail.

Enquiries:

Beowulf Mining plc 

Kurt Budge, Chief Executive Officer                           Tel: [phone]

Cantor Fitzgerald Europe

(Nominated Advisor & Broker) 

David Porter                                                                Tel: [phone]

Blytheweigh   

Tim Blythe/Megan Ray                                                Tel: [phone]

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Bevan Metcalf
2	Reason for the notification
a)	Position/status	PDMR - 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	Beowulf Mining plc
b)	LEI	213800MV3XGAOASPT433
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 shares of 1p each GB0033163287
b)	Nature of the transaction	Exercise of options.
c)	Price(s) and volume(s)	Price(s) Volume(s) 1.66p    8,000,000 4p       500,000
d)	Aggregated information - Aggregated volume - Price	Not applicable
e)	Date of the transaction	10 October 2017
f)	Place of the transaction	Off market

 

END

 

 

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