Grant of Options

RNS Number : 3712X

Dekeloil Public Limited

21 February 2017

 

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

DekelOil Public Limited / Index: AIM / Epic: DKL / Sector: Food Producers

DekelOil Public Limited ('DekelOil' or the 'Company')

Grant of Options

DekelOil Public Limited, operator and 100% owner of the profitable and vertically integrated Ayenouan palm oil project in Côte d'Ivoire (the 'Project'), announces that it has today awarded to certain directors and senior members of the management team options over a total of 11,000,000 ordinary shares of €0.000336 ('Ordinary Shares') each in the Company (the 'Options'), representing approximately 3.7 per cent. of the Company's total issued share capital.

The Options have been granted to key employees and directors recognising DekelOil's third consecutive year of record crude palm oil ('CPO') production at Ayenouan, including 39,111 tonnes of CPO produced in 2016 (a 9% year on year increase); and also recognising the acquisition of a 100 per cent. interest in the Ayenouan Project, via a series of value accretive transactions. 

The Options, designed to incentivise the directors and senior management of the Company, will vest annually over five years with an exercise price of 13.25 pence, being equivalent to the issue price of shares in the Company's fundraise in June 2016 and representing a 9.3 per cent. premium to the closing price of the Company's shares on 20 February 2017. Three directors of the Company, Youval Rasin, Shai Kol and Lincoln Moore were included in the award.

Together with the 9,000,000 Options outstanding prior to this award, the total options in issue represent 6.76% of the current issued share capital. Details of the new share options are set out below:

Option holder	Options awarded
Youval Rasin	2,000,000
Shai Kol	2,000,000
Lincoln Moore	2,000,000
Senior Management	5,000,000
Total	11,000,000

Total Voting Rights

The Company also confirms as previously disclosed in the announcements dated 9 January 2017 and 16 January 2017, that 48,171,734 ordinary shares of €0.0003367 each ("Ordinary Shares") are expected to be admitted to trading on AIM on 22 February 2017 ("Admission"). Following the issue of the 48,171,734 Ordinary Shares, the Company's issued share capital consists of 295,995,774 Ordinary Shares. No Ordinary Shares are held in treasury at the date of this announcement and therefore following the Admission, the total number of voting rights will be 295,995,774.

The above total voting rights figure may be used by shareholders as the denominator for the calculation by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company.

** ENDS **

For further information please visit the Company's website or contact:

DekelOil Public Limited Youval Rasin Shai Kol Lincoln Moore	[phone]
Cantor Fitzgerald Europe (Nomad and Broker) Andrew Craig Richard Salmond	[phone]
Beaufort Securities Limited (Broker) Zoe Alexander Elliot Hance	[phone]
Optiva Securities Limited (Broker) Christian Dennis Jeremy King	[phone]
St Brides Partners Ltd (Investor Relations) Elisabeth Cowell Frank Buhagiar	[phone]

Notes:

DekelOil Public Limited is a low cost producer of palm oil in West Africa, which it is focused on rapidly expanding.  To this end, it has a 100% interest in one of the largest oil processing mills based in Côte d'Ivoire.  Feedstock for the Mill comes from several co-operatives and thousands of smallholders, however it also has nearly 1,900 hectares of its own plantations.  Furthermore, it has a world-class nursery with a 1 million seedlings a year capacity.

APPENDIX

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them

1.	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Youval Rasin
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	DekelOil Public Limited
b)	LEI	213800TZMTERFY8P7D14
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	Options over ordinary shares of €0.0003367
	Identification code	CY0106502111
b)	Nature of the transaction	Grant of Options
c)	Price(s) and volume(s)	Price(s) Volume(s) Exercise price 13.25 pence per share 2,000,000
d)	Aggregated information: ·     Aggregated volume ·     Price	Grant of 2,000,000 options over ordinary shares of €0.0003367 at an exercise price of 13.25 pence
e)	Date of the transaction	20 February 2017
f)	Place of the transaction	London Stock Exchange, AIM Market (XLON)

1.	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Shai Kol
2.	Reason for the Notification
a)	Position/status	Deputy CEO and CFO
b)	Initial notification/Amendment	Initial notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	DekelOil Public Limited
b)	LEI	213800TZMTERFY8P7D14
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	Options over ordinary shares of €0.0003367
	Identification code	CY0106502111
b)	Nature of the transaction	Grant of Options
c)	Price(s) and volume(s)	Price(s) Volume(s) Exercise price 13.25 pence per share 2,000,000
d)	Aggregated information: ·     Aggregated volume ·     Price	Grant of 2,000,000 options over ordinary shares of €0.0003367 at an exercise price of 13.25 pence
e)	Date of the transaction	20 February 2017
f)	Place of the transaction	London Stock Exchange, AIM Market (XLON)

1.	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Lincoln Moore
2.	Reason for the Notification
a)	Position/status	Director
b)	Initial notification/Amendment	Initial notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	DekelOil Public Limited
b)	LEI	213800TZMTERFY8P7D14
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	Options over ordinary shares of €0.0003367
	Identification code	CY0106502111
b)	Nature of the transaction	Grant of Options
c)	Price(s) and volume(s)	Price(s) Volume(s) Exercise price 13.25 pence per share 2,000,000
d)	Aggregated information: ·     Aggregated volume ·     Price	Grant of 2,000,000 options over ordinary shares of €0.0003367 at an exercise price of 13.25 pence
e)	Date of the transaction	20 February 2017
f)	Place of the transaction	London Stock Exchange, AIM Market (XLON)

 

END

 

 

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