Director Share Purchase and Purchase Programme

RNS Number : 0259Z

Cadence Minerals PLC

12 December 2017

 

Cadence Minerals Plc

("Cadence Minerals", "Cadence" or "the Company")

Director Share Purchase and Defined Director Purchase Programme

Cadence Minerals (AIM/NEX: KDNC; OTC: KDNCY) announces that the Directors of the Company have acquired 6.7 million shares in the company at an average price of 0.28 pence. In addition, all of the Directors have entered into a Defined Director Purchase Programme.

Director Share Purchase

Details of the Director purchases are contained in the table below:

Date Purchased	Director	Position	Number of ordinary shares acquired	Price paid per share (pence)
11/12/2017	Kiran Morzaria	Director & CEO	3,508,772	0.29
11/12/2017	Donald Strang	Finance Director	3,182,011	0.27
Total			6,690,783	0.28

After these acquisitions the total notifiable share interest in the Company for the directors is as follows

Director	Position	Total Notifiable Interests (shares)
Kiran Morzaria	Director & CEO	8,508,772
Donald Strang	Finance Director	3,182,011
Adrian Fairbourn	Non-Executive Director	6,666,667
Total		18,357,450

Defined Director Purchase Programme

Andrew Suckling, Kiran Morzaria, Donald Strang and Adrian Fairbourn have all entered into a Defined Director Purchase Programme ("DDPP") in which they will each purchase £1,000 of ordinary shares per month for 12 months. These shares will be purchased from the market on the first Friday of each month starting on 2^nd February 2018 and ending the 4^th January 2019. The market will be notified of the purchases on the next trading day via a PDMR; Directors dealing notification.

The Directors have entered into a DDPP in an open period and under this Programme are therefore committed to the purchase of shares in what otherwise may be a close period. Entering into the DDPP does not preclude the directors from buying additional shares in the Company during open periods.

 Ends -

For further information, please contact.
Cadence Minerals plc	[phone]
Andrew Suckling
Kiran Morzaria
WH Ireland Limited (NOMAD & Broker)	[phone]
James Joyce
James Sinclair-Ford
Hannam & Partners LLP (Joint Broker)	[phone]
Neil Passmore
Giles Fitzpatrick
Square1 Consulting	[phone]
David Bick

About Cadence Minerals:

Cadence is dedicated to smart investments for a greener world. The planet needs rechargeable batteries on a global scale - upcoming supersized passenger vehicles, lorries and buses - require lithium and other technology minerals to power their cells. Cadence is helping find these minerals in new places and extracting them in new ways, which will meet the demand of this burgeoning market. With over £25 million vested in key assets globally, Cadence is helping us reach tomorrow, today.

Cadence invests across the globe, principally in lithium mining projects. Its primary strategy is taking significant economic stakes in upstream exploration and development assets within strategic metals. We identify assets that have strategic cost advantages that are not replicable, with the aim of achieving lower quartile production costs. The combination of this approach and seeking value opportunities allows us to identify projects capable of achieving high rates of return.

The Cadence board has a blend of mining, commodity investing, fund management and deal structuring knowledge and experience, that is supported by access to key marketing, political and industry contacts. These resources are leveraged not only in our investment decisions but also in continuing support of our investments, whether it be increasing market awareness of an asset, or advising on product mix or path to production. Cadence Mineral's goal is to assist management to rapidly develop the project up the value curve and deliver excellent returns on its investments.

 

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