Issue of Share Options

RNS Number : 2240T

Oriole Resources PLC

19 March 2019

 

Oriole Resources PLC 

('Oriole Resources' or 'the Company' or 'the Group')

Issue of Share Options

Oriole Resources, the AIM-quoted exploration company operating in Africa and Europe, announces that the Company's remuneration committee has today granted options to its Chief Executive Officer, Tim Livesey, its Chief Financial Officer, Bob Smeeton and members of the management team. 

Further Details                                                                                       

Options over 20,700,000 Ordinary Shares in the Company ('the Options') have been granted to the Company's Executive Directors, management team and employees. The Options have an exercise price of 0.37 pence, being the 30 day VWAP market price on 18 March 2019. The Options are not subject to performance conditions, will vest over a three-year period and will expire after ten years. In aggregate this award of Options is equivalent to 2.95% of the current issued share capital of the Company.

Following the awards the Company has 46,455,144 options and 13,470,000 warrants in issue, representing 8.5% of the issued Ordinary Share Capital.

Following the award of these options, the interests in the Ordinary Share Capital of the Company of the Executive Directors and other Persons Discharging Managerial Responsibility are as follows:

	New options issued	Total unexercised options held following issue	Shares held
Tim Livesey	6,000,000	12,000,000	4,746,800
Bob Smeeton	6,000,000	8,000,000	2,000,000
Claire Bay	3,500,000	3,940,000	294,804

Further details on the exercise are included in the notification below, made in accordance with the requirements of the EU Market Abuse Regulations. 

The information communicated within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

** ENDS **

For further information please visit www.orioleresources.com, @OrioleResources on Twitter, or contact:

Oriole Resources PLC Bob Smeeton / Tim Livesey / Claire Bay	Tel: [phone]
Camarco (IR/PR contact) Gordon Poole / Nick Hennis / Emily Hall	Tel: [phone]
Grant Thornton UK LLP Samantha Harrison / Ben Roberts / Niall McDonald	Tel: [phone]
Hannam & Partners Neil Passmore / Andrew Chubb	Tel: [phone]
Turner Pope Investments (TPI) Ltd Ben Turner / James Pope / Andy Thacker	Tel: [phone]

Notes to Editors:

Oriole Resources PLC is an AIM-listed exploration company, operating in Africa and Europe. It is focused on early-stage exploration in Cameroon and the more advanced Dalafin gold project in Senegal, where IAMGOLD has the option to spend US$8m to earn a 70% interest. The Company has a number of interests and royalties in companies operating throughout Africa and Turkey and is assessing new opportunities in both regions.

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	Tim Livesey
2	Reason for the notification
a)	Position/status	Chief Executive Office
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Oriole Resources PLC
b)	LEI	213800X32GJR5AGAR511
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 0.1 pence each in the capital of the Company
	Identification code	Ordinary share ISIN: GB00B0T29327
b)	Nature of the transaction	Grant of options over ordinary shares in the capital of the Company under the Company's EMI option scheme with an exercise price of 0.37p each
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			0	6,000,000
d)	Aggregated information
	- Aggregated volume	n/a
	- Price
e)	Date of the transaction	18 March 2019
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Robert Smeeton
2	Reason for the notification
a)	Position/status	Chief Financial Officer
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Oriole Resources PLC
b)	LEI	213800X32GJR5AGAR511
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 0.1 pence each in the capital of the Company
	Identification code	Ordinary share ISIN: GB00B0T29327
b)	Nature of the transaction	Grant of options over ordinary shares in the capital of the Company under the Company's EMI option scheme with an exercise price of 0.37p each
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			0	6,000,000
d)	Aggregated information
	- Aggregated volume	n/a
	- Price
e)	Date of the transaction	18 March 2019
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Claire Bay
2	Reason for the notification
a)	Position/status	Vice President Exploration and Business Development
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Oriole Resources PLC
b)	LEI	213800X32GJR5AGAR511
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 0.1 pence each in the capital of the Company
	Identification code	Ordinary share ISIN: GB00B0T29327
b)	Nature of the transaction	Grant of options over ordinary shares in the capital of the Company under the Company's EMI option scheme with an exercise price of 0.37p each
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			0	3,500,000
d)	Aggregated information
	- Aggregated volume	n/a
	- Price
e)	Date of the transaction	18 March 2019
f)	Place of the transaction	Outside a trading venue

 

END

 

 

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