Update on Salary Sacrifice Scheme

RNS Number : 9775E

Oriole Resources PLC

02 November 2022

 

Oriole Resources Plc

('Oriole' or 'the Company')

Update on Salary Sacrifice Scheme and Extension of Scheme

Oriole Resources PLC, the AIM-quoted gold exploration company focussed on West Africa, announces an update on the salary sacrifice scheme referred to in the announcement dated 29 June 2022 and in which all Directors are participating. The last two tranches of gross salary to be sacrificed, totalling £51k, have been converted, using the 30-day VWAP on 31 August 2022 (0.1785 pence) and 30 September 2022 (0.194 pence) respectively, to 17,427,633 new ordinary shares of 0.1p each in the share capital of the Company ('Ordinary Shares') as set out below:

Name	Number of Ordinary Shares Issued	Resultant shareholding in the Company	Percentage of the issued share capital of the Company
Eileen Carr(1)	1,469,404	35,745,564	1.31%
Tim Livesey(2)	8,177,259	33,090,341	1.22%
David Pelham(3)	1,004,431	5,307,993	0.20%
Claire Bay	2,104,588	6,609,113	0.24%
Bob Smeeton(4)	4,671,951	28,261,992	1.04%

(1) Eileen Carr is beneficially interested in 29,198,180 Ordinary Shares held by Hargreaves Lansdown Nominees Limited and Ordinary Shares held in AJ Bell Securities Limited.

(2) Tim Livesey is beneficially interested in 24,913082 Ordinary Shares held by  Hargreaves Lansdown Nominees Limited.

(3) David Pelham is beneficially interested in 4,303,562 Ordinary Shares held by  Hargreaves Lansdown Nominees Limited.

(4) Bob Smeeton is beneficially interested in 23,590,041 Ordinary Shares held by  Hargreaves Lansdown Nominees Limited.

Following the issue of these shares, the Directors will collectively hold 4.01% of the issued share capital of the Company as outlined in the above table.

The Shares will be issued as fully paid and will rank pari passu in all respects with the existing Ordinary Shares, including the right to receive dividends and other distributions declared on or after the date on which they are issued.

Application will be made to the London Stock Exchange for the Shares to be admitted to trading on AIM ('Admission') at 8.00 a.m. on or around 4th November 2022.

Total Voting Rights

Following Admission of the Shares, the Company's issued share capital will be 2,720,015,362 Ordinary Shares. This figure of 2,720,015,362 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 Guidance and Transparency Rules.

Further details of the PDMR dealings are included below. This information has been provided in accordance with Article 5(1)(b) of the Market Abuse Regulation (EU) No 596/2014 which is part of UK law by virtue of the European Union (Withdrawal) Act 2018.

Extension of the Salary Sacrifice Scheme

Following the finalisation of the salary sacrifice scheme announced on 29 June 2022, the Directors have entered into a further commitment whereby 20% of their gross salaries, some £43k in aggregate, will be subject to a salary sacrifice scheme over a six-month period from November 2022. The net sacrificed salary will be applied to subscribe for new ordinary shares at the end of each month or as soon as practically possible thereafter. The number of such shares to be issued will be calculated based on the price equal to the 30-day VWAP at the end of each month.

** ENDS **

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

or contact:

Oriole Resources PLC Tim Livesey / Bob Smeeton / Claire Bay	Tel: [phone]
BlytheRay (IR/PR contact) Tim Blythe / Megan Ray / Rachael Brooks	Tel: [phone]
Grant Thornton UK LLP Samantha Harrison / George Grainger / Ciara Donnelly	Tel: [phone]
SP Angel Corporate Finance LLP Ewan Leggat / Harry Davies-Ball	Tel: [phone]

Notes to Editors:

Oriole Resources PLC is an AIM-listed exploration company, operating West Africa. It is focused on early-stage exploration in Cameroon (Bibemi, Wapouzé and Central Licence Package projects) and the more advanced Senala gold project in Senegal, where IAMGOLD has the option to spend US$8 million to earn a 70% interest. Under the terms of the option agreement, IAMGOLD has recently met its first commitment by spending US$4 million within an initial four years and will shortly acquire a 51% interest in Senala . The Company also has several interests and royalties in companies operating throughout Africa and Turkey that could deliver future cash flow, and it continues to assess 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	Eileen Carr
2	Reason for the notification
a)	Position/status	Chair
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	Ordinary shares of 0.1 pence each in the capital of the Company
	Identification code	Ordinary share ISIN: GB00B0T29327
b)	Nature of the transaction	Issue of shares in lieu of salary
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			0.1785	764,706
			0.194	704,697
d)	Aggregated information
	- Aggregated volume
	- Price
e)	Date of the transaction	01 November 2022
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Tim Livesey
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	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	Ordinary shares of 0.1 pence each in the capital of the Company
	Identification code	Ordinary share ISIN: GB00B0T29327
b)	Nature of the transaction	Issue of shares in lieu of salary
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			0.1785	4,255,602
			0.194	3,921,657
d)	Aggregated information
	- Aggregated volume
	- Price
e)	Date of the transaction	01 November 2022
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	David Pelham
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	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	Ordinary shares of 0.1 pence each in the capital of the Company
	Identification code	Ordinary share ISIN: GB00B0T29327
b)	Nature of the transaction	Issue of shares in lieu of salary
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			0.1785	522,725
			0.194	481,706
d)	Aggregated information
	- Aggregated volume
	- Price
e)	Date of the transaction	01 November 2022
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	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	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	Ordinary shares of 0.1 pence each in the capital of the Company
	Identification code	Ordinary share ISIN: GB00B0T29327
b)	Nature of the transaction	Issue of shares in lieu of salary
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			0.1785	1,095,268
			0.194	1,009,320
d)	Aggregated information
	- Aggregated volume
	- Price
e)	Date of the transaction	01 November 2022
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Bob Smeeton
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	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	Ordinary shares of 0.1 pence each in the capital of the Company
	Identification code	Ordinary share ISIN: GB00B0T29327
b)	Nature of the transaction	Issue of shares in lieu of salary
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			0.1785	2,431,373
			0.184	2,240,578
d)	Aggregated information
	- Aggregated volume
	- Price
e)	Date of the transaction	01 November 2022
f)	Place of the transaction	Outside a trading venue

 

END

 

 

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