Grant of Share Options

RNS Number : 7787Q

Primorus Investments PLC

02 March 2021

 

Primorus Investments plc

("Primorus" or the "Company")

Grant of Share Options

Primorus (AIM: PRIM) announces the award of 12,000,000 share options ("Share Options"). Each Share Option is exercisable over one ordinary share of £0.002 in the capital of the Company (the "Ordinary Shares"). The Share Options represent approximately 8.58 per cent. of the current issued share capital of the Company. On a fully diluted basis, the Share Options represent approximately 7.9 per cent. of the enlarged issued share capital of the Company (assuming the Share Options are exercised in full and no additional Ordinary Shares are issued save for those in connection with such exercise).

The Share Options are exercisable at a price of £0.041 per Ordinary Share (being the mid-market closing price of the Ordinary Shares on 1 March 2021). One-third of the Share Options shall vest when the mid-market closing price of the Ordinary Shares ("Closing Price") reaches £0.06; one-third of the Share Options shall vest when the Closing Price reaches £0.08; and one-third of the Share Options shall vest when the Closing Price reaches £0.10. The Share Options are exercisable at any time, following vesting, prior to (and including) the day falling on the fifth anniversary of grant. If an option holder leaves the Company, such option holder shall retain any vested Share Options but any unvested Share Options shall lapse unless otherwise decided by the Board at its absolute discretion.

The total options granted over Ordinary Shares to Persons Discharging Managerial Responsibilities within the Company (each being a "PDMR") are detailed below.

PDMR	Options	Exercise Price	Lapse Date
Rupert Labrum	3,000,000	£0.041	1 March 2026
Hedley Clark	3,000,000	£0.041	1 March 2026
Matthew Beardmore	3,000,000	£0.041	1 March 2026
Simon Holden	3,000,000	£0.041	1 March 2026

The information contained within this announcement is deemed by the Company to constitute inside information for the purposes of Article 11 of The Market Abuse (Amendment) (EU Exit) Regulations 2019 (SI 2019/310). Upon publication of this announcement, this inside information is now considered to be in the public domain.

For further information, please contact:

Primorus Investments plc  [phone]

Rupert Labrum

Nominated Adviser and Broker

Cairn Financial Advisers LLP  [phone]

Sandy Jamieson / James Caithie

Notification and public disclosure of transactions by persons discharging managerial responsibilities

and persons closely associated with them

1	Details of the persons discharging managerial responsibilities / person closely associated
a)	Name	Rupert Labrum
2	Reason for the notification
a)	Position/Status	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	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	Options over ordinary shares of £0.002 each GB00BKTCLJ25
b)	Nature of the transaction	Grant of share options
c)	Price(s) and volume(s)	Price(s) Volume(s) Exercise price: £0.041 3,000,000
d)	Aggregated information -  Aggregated volume -  Price	3,000,000 £0.041
e)	Date of transaction	1 March 2021
f)	Place of transaction	London Stock Exchange

1	Details of the persons discharging managerial responsibilities / person closely associated
a)	Name	Hedley Clark
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	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	Options over ordinary shares of £0.002 each GB00BKTCLJ25
b)	Nature of the transaction	Grant of share options
c)	Price(s) and volume(s)	Price(s) Volume(s) Exercise price: £0.041 3,000,000
d)	Aggregated information -  Aggregated volume -  Price	3,000,000 £0.041
e)	Date of transaction	1 March 2021
f)	Place of transaction	London Stock Exchange

1	Details of the persons discharging managerial responsibilities / person closely associated
a)	Name	Matthew Beardmore
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	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	Options over ordinary shares of £0.002 each GB00BKTCLJ25
b)	Nature of the transaction	Grant of share options
c)	Price(s) and volume(s)	Price(s) Volume(s) Exercise price: £0.041 3,000,000
d)	Aggregated information -  Aggregated volume -  Price	3,000,000 £0.041
e)	Date of transaction	1 March 2021
f)	Place of transaction	London Stock Exchange

1	Details of the persons discharging managerial responsibilities / person closely associated
a)	Name	Simon Holden
2	Reason for the notification
a)	Position/Status	Company Secretary
b)	Initial notification/ Amendment	Initial notification
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	Options over ordinary shares of £0.002 each GB00BKTCLJ25
b)	Nature of the transaction	Grant of share options
c)	Price(s) and volume(s)	Price(s) Volume(s) Exercise price: £0.041 3,000,000
d)	Aggregated information -  Aggregated volume -  Price	3,000,000 £0.041
e)	Date of transaction	1 March 2021
f)	Place of transaction	London Stock Exchange

 

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