Issue of Options

Cadence Minerals PLC

17 January 2025

 

17 January 2025

Cadence Minerals Plc

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

Issue of Options

Cadence Minerals (AIM: KDNC) announces the award of 14,720,000 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 2 pence per share being approximately 10% premium to the closing mid-price of the Ordinary Shares on 16 January 2025 of 1.85 pence. These options will vest immediately and will expire on 31 December 2030.

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	3,680,000
Kiran Morzaria	Chief Executive Officer	3,680,000
Donald Strang	Finance Director	3,680,000
Adrian Fairbourn	Non-Executive Director	3,680,000

The Share Options represent in aggregate 4.97% of the existing issued share capital. There are currently 7,200,000 other options outstanding.

The Directors of the Company accept responsibility for the contents of this announcement.

- Ends -

The information communicated within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with the Company's obligations under Article 17 of MAR. Upon the publication of this announcement, this inside information is now considered to be in the public  domain.

For further information:

Cadence Minerals plc	[phone]
Andrew Suckling
Kiran Morzaria
Zeus Capital Limited (NOMAD & Broker)	[phone]
James Joyce
Darshan Patel
Fortified Securities - Joint Broker	[phone]
Guy Wheatley
Brand Communications	[phone]
Public & Investor Relations
Alan Green

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 GB00B067JC96
b)	Nature of the transaction	Issue of options
c)	Price(s) and volume(s)	Price Volume 2p 3,680,000
d)	Aggregated information -       Aggregated volume -       Price	3,680,000 2p
e)	Date of the transaction	17 January 2025
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 GB00B067JC96
b)	Nature of the transaction	Issue of options
c)	Price(s) and volume(s)	Price Volume 2p 3,680,000
d)	Aggregated information -       Aggregated volume -       Price	3,680,000 2p
e)	Date of the transaction	17 January 2025
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 GB00B067JC96
b)	Nature of the transaction	Issue of options
c)	Price(s) and volume(s)	Price Volume 2p 3,680,000
d)	Aggregated information -       Aggregated volume -       Price	3,680,000 2p
e)	Date of the transaction	17 January 2025
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 GB00B067JC96
b)	Nature of the transaction	Issue of options
c)	Price(s) and volume(s)	Price Volume 2p 3,680,000
d)	Aggregated information -       Aggregated volume -       Price	3,680,000 2p
e)	Date of the transaction	17 January 2025
f)	Place of the transaction	Outside of a trading venue

 

END