Extension of Certain Share Options and Warrants

RNS Number : 6650K
Pathfinder Minerals Plc
06 May 2022
 

6 May 2022

 

Pathfinder Minerals Plc

("Pathfinder" the "Company")

 

Extension of Certain Share Options and Warrants

 

Pathfinder announces the extension of certain directors' share options and the extension of certain warrants issued to a related party.

 

The following directors' share options have been extended by one year from their original expiry dates, pursuant to a review by the Nomination and Remuneration Committee, to support the retention of key personnel and provide an appropriate level of ongoing incentive.

 

Director

Date of Grant

No. Options

Exercise Price

Original Expiry Date

New Expiry Date

Dennis Edmonds

11/05/2020

10,000,000

£0.0125

11/05/2022

11/05/2023

Peter Taylor

04/08/2020

6,000,000

£0.0125

30/08/2022

30/08/2023

 

The following warrants issued to Richard Jennings (the "Warrant Holder") pursuant to a fundraising announced on 11 May 2020 and the issue of a Convertible Loan Note (as announced on 3 April 2020) have been extended by approximately one year from their original expiry dates, in consideration for which the Warrant Holder has agreed, for nominal consideration, to continue providing equity research services, through his vehicle Align Research Ltd, to the Company until 13 April 2023.

 

Warrant Holder

Date of Grant

No. Warrants

Exercise Price

Original Expiry Date

New Expiry Date

Richard Jennings

11/05/2020

11,666,668

£0.005

11/05/2022

31/05/2023

Richard Jennings

11/05/2020

3,076,923

£0.015

11/05/2022

31/05/2023

 

Related Party Transactions

The amendment to the terms of the directors' share options and the warrants held by the Warrant Holder (who, together with Align Research Ltd, is a Substantial Shareholder in the Company) (the "Amendments") are considered to be related party transactions pursuant to Rule 13 of the AIM Rules for Companies.

 

The Directors independent of the Amendments, being Jonathan Summers and Mark Gasson, consider, having consulted with the Company's Nominated Adviser, Strand Hanson Limited, that the Amendments are fair and reasonable insofar as the Company's shareholders are concerned.

 

Enquiries:

Pathfinder Minerals Plc

Peter Taylor, Chief Executive Officer

Tel. +44  +44 (0)20 3143 6748

 

Strand Hanson Limited (Nominated & Financial Adviser and Broker)

James Spinney / Ritchie Balmer / Rob Patrick

Tel. +44 (0)20 7409 3494

 

Vigo Consulting (Public Relations)

Ben Simons / Charlie Neish / Kate Kilgallen

Tel. +44 (0)20 7390 0234

Email pathfinderminerals@vigoconsulting.com

 

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ("MAR").

 

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
MSCBSGDURBGDGDL
UK 100