Grant of Options

RNS Number : 3484B

Primorus Investments PLC

09 January 2018

 

Primorus Investments plc

("Primorus" or the "Company")

Grant of Options

The Company announces that it has agreed to grant 75 million share options to Alastair Clayton (Executive Director) and 75 million share options to Jeremy Taylor-Firth (Non-Executive Chairman) ("New Options").  Each New Option will entitle the holder to subscribe for new ordinary shares of 0.01p each in the Company ("Shares") at an exercise price of 0.30 pence per Share (being a 67% premium to the mid closing price on 8 January of 0.18 pence per Share) and are exercisable at any time within 7 years from the date of grant. 

Alastair Clayton currently holds 85 million Shares in the Company, which represent approximately 3.04% of the share capital of the Company.  Following the issue of the New Options, he will hold 162 million share options with an exercise price of 0.30 pence per Share.  Following the issue of the New Options, Jeremy Taylor-Firth (Chairman of the Company) will hold 87 million share options with an exercise price of 0.30 pence per Share. 

Following the grant of the New Options there will be 346m options in issue over Shares in the Company, representing 12.4% of its issued ordinary share capital.

The grant of the New Options is considered to be a related party transaction under the AIM Rules for Companies.  Donald Strang, having consulted with Cairn Financial Advisers LLP, the Company's nominated adviser, considers that the terms of the New Options are fair and reasonable as far as the Company's shareholders are concerned.

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

For further information, please contact:

Primorus Investments plc:	[phone]
Alastair Clayton
Nominated Adviser:	[phone]
Cairn Financial Advisers LLP
James Caithie / Sandy Jamieson Broker: Turner Pope Investments Limited Andy Thacker	[phone]

Transaction Notification

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

Notification of a Transaction pursuant to Article 19(1) of Regulation (EU) No. 596/2014
1	Details of the person discharging managerial responsibilities/person closely associated
a.	Name	Alastair Raoul Clayton
2	Reason for notification
a.	Position/Status	Executive Director
b.	Initial notification/ Amendment	Initial
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a.	Name	Primorus Investments PLC
b.	LEI	213800XCLCY5I8O3PP36
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	Ordinary Shares of 0.01p each
b.	Nature of the transaction	Grant of Options to subscribe for ordinary shares
c.	Price(s) and volume(s)
			Price(s)	Volume(s)
			0.003 GBP per share exercise price	75,000,000
d.	Aggregated information - Aggregated Volume - Price	N/A
e.	Date of the transaction	09/01/2018
f.	Place of the transaction	UK
Notification of a Transaction pursuant to Article 19(1) of Regulation (EU) No. 596/2014
1	Details of the person discharging managerial responsibilities/person closely associated
a.	Name	Jeremy David Taylor-Firth
2	Reason for notification
a.	Position/Status	Non-Executive Chairman
b.	Initial notification/ Amendment	Initial
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a.	Name	Primorus Investments PLC
b.	LEI	213800XCLCY5I8O3PP36
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	Ordinary Shares of 0.01p each
b.	Nature of the transaction	Grant of Options to subscribe for ordinary shares
c.	Price(s) and volume(s)
			Price(s)	Volume(s)
			0.003 GBP per share exercise price	75,000,000
d.	Aggregated information - Aggregated Volume - Price	N/A
e.	Date of the transaction	09/01/2018
f.	Place of the transaction	UK

 

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