Update on Salary Sacrifice Scheme

RNS Number : 5780L

Oriole Resources PLC

04 January 2023

 

Oriole Resources Plc

('Oriole' or 'the Company')

Update on Salary Sacrifice Scheme

Oriole Resources PLC, the AIM-quoted exploration company focussed on West Africa, announces an update on the extension to the salary sacrifice scheme referred to in the Announcement dated 2 November 2022 and in which all directors are participating. The sixth tranche of gross salary to be sacrificed, totalling £7k, has been converted, using the 30-day VWAP on 31 December 2022 (0.1558 pence), to 2,725,021 new ordinary shares of 0.1p each in the 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[1]
Eileen Carr	299,903	36,411,564	1.34%
Tim Livesey	910,622	35,112,574	1.29%
David Pelham	239,625	5,840,132	0.21%
Claire Bay	546,373	7,822,453	0.29%
Bob Smeeton	728,498	29,879,779	1.10%

[1] Note: Discrepancies may occur due to rounding.

Following the issue of these shares, the Directors will collectively hold 4.22% 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 9 January 2023.

Total Voting Rights

Following Admission of the Shares, the Company's issued share capital will be 2,726,066,861 Ordinary Shares. This figure of 2,726,066,861 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.

** ENDS **

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

or contact:

Oriole Resources Plc	Tel: [phone]
Tim Livesey / Bob Smeeton / Claire Bay
BlytheRay (IR/PR Contact)	Tel: [phone]
Tim Blythe / Megan Ray / Rachel Brooks
Grant Thornton UK LLP	Tel: [phone]
Samantha Harrison / George Grainger / Ciara Donnelly
Shard Capital Partners LLP	Tel: [phone]
Damon Heath / Erik Woolgar / Isabella Pierre

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. IAMGOLD has recently notified the Company that it has, under the terms of the agreement, met the first commitment by spending US$4 million within an initial four years. Subject to the Company completing a review of these expenditures, IAMGOLD will 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)
			0.1558	299,903
d)	Aggregated information
	- Aggregated volume
	- Price
e)	Date of the transaction	3 January 2023
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)
			0.1558	910,622
d)	Aggregated information
	- Aggregated volume
	- Price
e)	Date of the transaction	3 January 2023
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)
			0.1558	239,625
d)	Aggregated information
	- Aggregated volume
	- Price
e)	Date of the transaction	3 January 2023
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)
			0.1558	546,373
d)	Aggregated information
	- Aggregated volume
	- Price
e)	Date of the transaction	3 January 2023
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)
			0.1558	728,498
d)	Aggregated information
	- Aggregated volume
	- Price
e)	Date of the transaction	3 January 2023
f)	Place of the transaction	Outside a trading venue

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