Share Incentive Plan and Directors' Dealings

RNS Number : 6258L

Regency Mines PLC

12 January 2016

 

Regency Mines Plc

Issue of Shares under Share Incentive Plan and Directors' Dealings

12 January 2016

Regency Mines Plc ("Regency" or the "Company"), the natural resource development and investment Company with interests in oil and mineral exploration, announces that on 11 January 2016 the Company agreed to issue and allot 2,285,712 ordinary shares in the Company ("New Ordinary Shares") under the terms of the Company's Share Incentive Plan ("SIP") and in respect of the 2015/16 tax year, following a meeting of the SIP Trustees on 7 January 2016.

Under the terms of the SIP, once employees have worked for the Company for three months, they qualify for the Free Share Agreement.

Free Share Agreement - Free Share Award

Under the Free Share Agreement, employees may be awarded up to £3,000 worth of Ordinary Shares in the Company in any one tax year. Consequently, 2,285,712 New Ordinary Shares have been awarded, with reference to the mid-market closing price of 0.525p on 6 January 2016, to the Company's existing employees for the 2015/16 tax year.

The Directors have participated in this award and the above number includes such participation, further details of which are set out below.

All New Ordinary Shares will be held by the SIP Trustees and cannot be released to participants until five years after the date of the award, except in specific circumstances.

Directors' Participation

In respect of the 2015/2016 tax year each Director, has been awarded 571,428 New Ordinary Shares. As a result of such participation, the Directors' new shareholdings in the Company, are set out in the table below:

Directors	Number of New Ordinary Shares Awarded	Total Holding Following the Award
		Direct	Indirect*	Total	% of Enlarged Issued Share Capital
Andrew R M Bell	571,428	2,302,435	2,123,827	4,426,262	3.48%
Edmund Sr Bugnosen	571,428	10,000	1,275,888	1,285,888	1.01%
Scott C Kaintz	571,428	21,052	1,276,447	1,297,499	1.02%

*Mr A Bell and Mr S Kaintz are each beneficiaries of 1,276,447 shares held on their behalf by the SIP Trustees whilst Mr E Bugnosen is a beneficiary of 1,275,888 shares held on his behalf by the SIP Trustees. In addition, Mr A Bell holds 847,380 shares in the account of Brewin 1762 Nominees Limited.

Admission to trading on AIM and Total Voting Rights

Application is being made to AIM for 2,285,712 New Ordinary Shares allotted in relation to the SIP for 2015/16 tax year to be admitted to trading on AIM. Admission of the 2,285,712 New Ordinary Shares is expected on or around 18 January 2016.

Following the issue of the 2,285,712 New Ordinary Shares the enlarged issued share capital of the Company consists of 127,157,461 ordinary shares of 0.01p each with voting rights. No Ordinary Shares are held in Treasury.

The above figure of 127,157,461 may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in the Company under the FCA's Disclosure and Transparency Rules.

For further information contact:

Andrew Bell 0207 747 9960                                                       Chairman Regency Mines Plc

Scott Kaintz 0207 747 9960                                                        Executive Director Regency Mines Plc

Roland Cornish/Rosalind Hill Abrahams 0207 628 3396         NOMAD Beaumont Cornish Limited

Jason Robertson 0129 351 7744                                                Broker Dowgate Capital Stockbrokers Ltd.

Christian Pickel 0203 128 8208                                                  Media Relations MHP Communications

 

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