Directors' Grant of Options

RNS Number : 0923T

Cobra Resources PLC

15 July 2020

 

Cobra Resources plc

("Cobra" or the "Company")

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF EU REGULATION 596/2014. UPON THE PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY NEWS SERVICE, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE TO DO  SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION.

For immediate release

15 July 2020

Cobra Resources plc

(Incorporated in England and Wales with company number 11170056)

Directors' Grant of Options

Cobra Resources plc (the "Company") today announces the grant (the "Grant") of share options (the "Options") to the directors of the Company which are exercisable over a total of 15,000,000 ordinary shares of nominal value 1 pence each (the "Ordinary Shares") in the issued share capital of the Company.

The Options are exercisable at between 2 and 4 pence per Ordinary Share and subject to certain vesting conditions including;

1)  The Company achieving mineral resources of 1 million ounces; or

2)  A market capitalisation of £10 million.

Persons discharging managerial responsibility participating in the Grant are tabled below:

Name	Title	No. of Share Options Granted	Date of Grant
David Clarke	Non-Executive Director	5,000,000	14/07/2020
Daniel Maling	Non-Executive Director	5,000,000	14/07/2020
Greg Hancock	Non-Executive Chairman	5,000,000	14/07/2020

Following this announcement, the total number of current director options granted and outstanding is in respect of 15,672,336 Ordinary Shares representing 8 per cent. of the current issued share capital of the Company.

The information set out below is provided in accordance with the requirements of Regulation 19(3) of the EU Market Abuse Regulation No 596/2014:

1.	Details of PDMR / person closely associated
a)	Name	(i)  David Clarke (ii)  Daniel Maling (iii)  Greg Hancock
2.	Reason for the notification
a)	Position / status	(i)  Non-Executive Director (ii)  Non-Executive Director (iii)  Non-Executive Chairman
b)	Initial notification /amendment	Initial notification
3.	Details of the issuer
a)	Name	Cobra Resources plc
b)	LEI	213800XTW5PLLK72TQ57
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	Ordinary Shares of nominal value 1p each
b)	Identification code of the Financial Instrument	ISIN for Cobra Resources plc: GB00BGJW5255
c)	Nature of the transaction	Grant of options over Ordinary Shares in Cobra Resources plc under the Share Option Plan with Non-Employee Sub-Plan and US Sub-Plan
d)	Price(s) and volume(s)	Price Volume i.David Clarke a)  £0.03 b)  £0.04 3,000,000 2,000,000 ii. Daniel Maling a)  £0.02 b)  £0.04 2,000,000 3,000,000 iii. Greg Hancock a)  £0.03 b)  £0.04 3,000,000 2,000,000
e)	Aggregated information Aggregated volume Price	N/A 2,000,000 6,000,000 7,000,000 £0.02 £0.03 £0.04
f)	Date of the transaction	14 July 2020
g)	Place of the transaction	XLON

The person who arranged for the release of this announcement on behalf of the Company was Dan Mailing, Non-Executive Director of the Company.

End

Enquiries:

Cobra Resources plc	Craig Moulton Daniel Maling	[phone] [phone]
SI Capital Limited (Joint Broker)	Nick Emerson Sam Lomanto	[phone]
Peterhouse Capital Limited (Joint Broker)	Duncan Vasey Lucy Williams	[phone]

 

END

 

 

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