Grant of Share Options

RNS Number : 8782I

Iofina PLC

16 December 2020

 

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014

16 December 2020

Iofina plc

("Iofina" or the "Company")

(LSE AIM: IOF)

Grant of Share Options

Iofina plc, specialists in the exploration and production of iodine and manufacturers of specialty chemical products, announces that it has awarded, with effect from today, a total of 1,232,450 share option awards (the "December 2020 Options"). Each December 2020 Option is exercisable over one ordinary share of £0.01 each in the capital of the Company ("Ordinary Shares") and is subject to the rules of the Company's 2018 Stock Option Plan (the "2018 Option Plan"). The December 2020 Options represent approximately 0.64 per cent. of the current issued share capital of the Company.

The December 2020 Options will be exercisable at a price of £0.1250 per Ordinary Share (being the closing price on 15 December 2020), with 50 per cent. of the options vesting one year from the date of grant and the remaining 50 per cent. vesting two years from the date of grant (the "Vesting Conditions"). The December 2020 Options are exercisable at any time, following vesting, prior to (and including) the day falling on the tenth anniversary of grant. If an option holder leaves the Company they will have a period of 90 days within which to exercise any vested options, failing which they will lapse (the "90 Days Condition").

The grant of options under the 2018 Option Plan is part of the Company's long-term incentive arrangements designed to align the interests of the shareholders and certain executives.

The total options granted over Ordinary Shares to Persons Discharging Managerial Responsibilities within the Company (each being a "PDMRs") are detailed below. Further, an additional 100,000 December 2020 Options have been granted to non-PDMRs.

2018 Plan Options Issued 16 December 2020

		Exercise
PDMR	Options	Price	Lapse Date
J Frank Mermoud	82,500	£0.1250	16-December-2030
Malcolm Lewin	181,500	£0.1250	16-December-2030
Lance Baller	165,000	£0.1250	16-December-2030
Bill Bellamy	82,500	£0.1250	16-December-2030
Mary Fallin	82,500	£0.1250	16-December-2030
Tom Becker	266,200	£0.1250	16-December-2030
Forest Dorn	90,750	£0.1250	16-December-2030
Kurt Jones	90,750	£0.1250	16-December-2030
Scott Formolo	90,750	£0.1250	16-December-2030

Enquiries:

Dr. Tom Becker

CEO & President

Iofina plc

Tel: [phone]

Christopher Raggett/Giles Rolls/Matthew Radley (corporate finance)

Tim Redfern (ECM)

finnCap Ltd

Tel: [phone]

Media Contact:

Charles Goodwin/Joe Burgess

Yellow Jersey PR Limited

Tel: [phone]

About Iofina:

Iofina plc (AIM: IOF) is a vertically integrated Company that specialises in the production of Iodine and the manufacturing of specialty chemical products. As the second largest producer of iodine in North America, it comprises three USA entities; Iofina Resources, Iofina Chemical and IofinaEX.

LEI: 213800QDMFYVRJYYTQ84

ISIN: GB00B2QL5C79

Iofina Resources

Iofina Resources develops, builds, owns and operates iodine extraction plants using Iofina's WET® IOsorb® technology. Iofina currently operates five producing IOsorb® plants in Oklahoma and is consistently using technology and innovation to improve and expand its operations.

Iofina Chemical

Iofina Chemical has manufactured high quality halogen speciality chemicals derived from raw iodine, as well as non-iodine based products for over 35 years.

IofinaEX

Iofina's newest subsidiary, IofinaEX, is fully licensed to process hemp in the state of Kentucky and holds an investment in a hemp seed production project.

www.iofina.com

1.	Details of the person discharging managerial responsibilities/person closely associated
a)	Name:	J Frank Mermoud
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:	Iofina plc
b)	LEI:	213800QDMFYVRJYYTQ84
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: Identification code:	Options over ordinary shares of 1 pence each GB00B2QL5C79
b)	Nature of the transaction:	Grant of Options
c)	Price(s) and volume(s):	Price(s) Volume(s) 12.5 pence 82,500
d)	Aggregated information: · Aggregated volume: · Price:	As above
e)	Date of the transaction:	16 December 2020
f)	Place of the transaction:	AIM, London Stock Exchange (XLON)

1.	Details of the person discharging managerial responsibilities/person closely associated
a)	Name:	Malcolm Lewin
2.	Reason for the notification
a)	Position/status:	CFO
b)	Initial notification/Amendment:	Initial notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name:	Iofina plc
b)	LEI:	213800QDMFYVRJYYTQ84
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: Identification code:	Options over ordinary shares of 1 pence each GB00B2QL5C79
b)	Nature of the transaction:	Grant of Options
c)	Price(s) and volume(s):	Price(s) Volume(s) 12.5 pence 181,500
d)	Aggregated information: · Aggregated volume: · Price:	As above
e)	Date of the transaction:	16 December 2020
f)	Place of the transaction:	AIM, London Stock Exchange (XLON)

1.	Details of the person discharging managerial responsibilities/person closely associated
a)	Name:	Lance Baller
2.	Reason for the notification
a)	Position/status:	Non-Executive Chairman
b)	Initial notification/Amendment:	Initial notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name:	Iofina plc
b)	LEI:	213800QDMFYVRJYYTQ84
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: Identification code:	Options over ordinary shares of 1 pence each GB00B2QL5C79
b)	Nature of the transaction:	Grant of Options
c)	Price(s) and volume(s):	Price(s) Volume(s) 12.5 pence 165,000
d)	Aggregated information: · Aggregated volume: · Price:	As above
e)	Date of the transaction:	16 December 2020
f)	Place of the transaction:	AIM, London Stock Exchange (XLON)

1.	Details of the person discharging managerial responsibilities/person closely associated
a)	Name:	Bill Bellamy
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:	Iofina plc
b)	LEI:	213800QDMFYVRJYYTQ84
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: Identification code:	Options over ordinary shares of 1 pence each GB00B2QL5C79
b)	Nature of the transaction:	Grant of Options
c)	Price(s) and volume(s):	Price(s) Volume(s) 12.5 pence 82,500
d)	Aggregated information: · Aggregated volume: · Price:	As above
e)	Date of the transaction:	16 December 2020
f)	Place of the transaction:	AIM, London Stock Exchange (XLON)

1.	Details of the person discharging managerial responsibilities/person closely associated
a)	Name:	Mary Fallin
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:	Iofina plc
b)	LEI:	213800QDMFYVRJYYTQ84
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: Identification code:	Options over ordinary shares of 1 pence each GB00B2QL5C79
b)	Nature of the transaction:	Grant of Options
c)	Price(s) and volume(s):	Price(s) Volume(s) 12.5 pence 82,500
d)	Aggregated information: · Aggregated volume: · Price:	As above
e)	Date of the transaction:	16 December 2020
f)	Place of the transaction:	AIM, London Stock Exchange (XLON)

1.	Details of the person discharging managerial responsibilities/person closely associated
a)	Name:	Tom Becker
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:	Iofina plc
b)	LEI:	213800QDMFYVRJYYTQ84
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: Identification code:	Options over ordinary shares of 1 pence each GB00B2QL5C79
b)	Nature of the transaction:	Grant of Options
c)	Price(s) and volume(s):	Price(s) Volume(s) 12.5 pence 266,200
d)	Aggregated information: · Aggregated volume: · Price:	As above
e)	Date of the transaction:	16 December 2020
f)	Place of the transaction:	AIM, London Stock Exchange (XLON)

1.	Details of the person discharging managerial responsibilities/person closely associated
a)	Name:	Forest Dorn
2.	Reason for the notification
a)	Position/status:	PDMR
b)	Initial notification/Amendment:	Initial notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name:	Iofina plc
b)	LEI:	213800QDMFYVRJYYTQ84
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: Identification code:	Options over ordinary shares of 1 pence each GB00B2QL5C79
b)	Nature of the transaction:	Grant of Options
c)	Price(s) and volume(s):	Price(s) Volume(s) 12.5 pence 90,750
d)	Aggregated information: · Aggregated volume: · Price:	As above
e)	Date of the transaction:	16 December 2020
f)	Place of the transaction:	AIM, London Stock Exchange (XLON)

1.	Details of the person discharging managerial responsibilities/person closely associated
a)	Name:	Kurt Jones
2.	Reason for the notification
a)	Position/status:	PDMR
b)	Initial notification/Amendment:	Initial notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name:	Iofina plc
b)	LEI:	213800QDMFYVRJYYTQ84
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: Identification code:	Options over ordinary shares of 1 pence each GB00B2QL5C79
b)	Nature of the transaction:	Grant of Options
c)	Price(s) and volume(s):	Price(s) Volume(s) 12.5 pence 90,750
d)	Aggregated information: · Aggregated volume: · Price:	As above
e)	Date of the transaction:	16 December 2020
f)	Place of the transaction:	AIM, London Stock Exchange (XLON)

1.	Details of the person discharging managerial responsibilities/person closely associated
a)	Name:	Scott Formolo
2.	Reason for the notification
a)	Position/status:	PDMR
b)	Initial notification/Amendment:	Initial notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name:	Iofina plc
b)	LEI:	213800QDMFYVRJYYTQ84
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: Identification code:	Options over ordinary shares of 1 pence each GB00B2QL5C79
b)	Nature of the transaction:	Grant of Options
c)	Price(s) and volume(s):	Price(s) Volume(s) 12.5 pence 90,750
d)	Aggregated information: · Aggregated volume: · Price:	As above
e)	Date of the transaction:	16 December 2020
f)	Place of the transaction:	AIM, London Stock Exchange (XLON)

 

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