Director Share Purchases

RNS Number : 0410U

Cadence Minerals PLC

09 July 2018

 

Cadence Minerals Plc

("Cadence Minerals", "Cadence" or "the Company")

Director Share Purchases

As announced in December 2017 the Directors all entered into a Defined Director Purchase Programme ("DDPP") in which they will each purchase £1,000 of ordinary shares per month for 12 months. These shares will be purchased from the market on the first Friday of each month starting on 2nd February 2018 and ending the 4th January 2019. The market will be notified of the purchases on the next trading day via a PDMR; Directors are dealing notification.

The Directors have entered into a DDPP in an open period and under this programme are therefore committed to the purchase of shares in what otherwise may be a close period. Entering into the DDPP does not preclude the directors from buying additional shares in the Company during open periods.

Mr Andrew Suckling did not complete his scheduled DDPP on 6 July 2018, due to an error by his broker, as such it is anticipated that this will be completed during the course of this week.

Details of the Director purchases are contained in the table below:

Director	Position	Number of ordinary shares acquired	Price paid per share (pence)
Kiran Morzaria	Director & CEO	445,434	0.22
Donald Strang	Finance Director	440,000	0.23
Adrian Fairbourn	Non-Executive Director	414,225	0.24

After these acquisitions, the total notifiable share interest in the Company for the directors is as follows

Director	Position	Total Notifiable Interests (shares)
Andrew Suckling	Executive Chairman	2,090,000
Kiran Morzaria	Director & CEO	11,019,973
Donald Strang	Finance Director	8,647,011
Adrian Fairbourn	Non-Executive Director	9,128,297
Total		30,885,281

For further information:

Cadence Minerals plc [phone] Andrew Suckling Kiran Morzaria WH Ireland Limited (NOMAD & Broker) [phone] James Joyce James Sinclair-Ford Hannam & Partners LLP (Joint Broker) [phone] Neil Passmore Giles Fitzpatrick Square1 Consulting [phone] David Bick

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	Kiran Morzaria
2	Reason for the notification
a)	Position/status	Director & CEO
b)	Initial notification/ Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Cadence Minerals PLC
b)	LEI	213800TUZWG9C2GRNO58
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 Share GB00B067JC96
b)	Nature of the transaction	Defined Directors Share Purchase Programme
c)	Price(s) and volume(s)	Price(s) Volume(s) 0.0022 445,434
d)	Aggregated information -      Aggregated volume -      Price	445,434 0.0022
e)	Date of the transaction	06/07/2018
f)	Place of the transaction	XLON, AIM

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Donald Strang
2	Reason for the notification
a)	Position/status	Finance Director
b)	Initial notification/ Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Cadence Minerals PLC
b)	LEI	213800TUZWG9C2GRNO58
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 Share GB00B067JC96
b)	Nature of the transaction	Defined Directors Share Purchase Programme
c)	Price(s) and volume(s)	Price(s) Volume(s) 0.0023 440,000
d)	Aggregated information -      Aggregated volume -      Price	440,000 0.0023
e)	Date of the transaction	06/07/2018
f)	Place of the transaction	XLON, AIM

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Adrian Fairbourn
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	Cadence Minerals PLC
b)	LEI	213800TUZWG9C2GRNO58
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 Share GB00B067JC96
b)	Nature of the transaction	Defined Directors Share Purchase Programme
c)	Price(s) and volume(s)	Price(s) Volume(s) 0.0024 414,225
d)	Aggregated information -      Aggregated volume -      Price	414,225 0.0024
e)	Date of the transaction	06/07/2018
f)	Place of the transaction	XLON, AIM

About Cadence Minerals:

Cadence is dedicated to smart investments for a greener world. The planet needs rechargeable batteries on a global scale - upcoming supersized passenger vehicles, lorries and buses - require lithium and other technology minerals to power their cells. Cadence is helping find these minerals in new places and extracting them in new ways, which will meet the demand of this burgeoning market. With circa £20 million vested in key assets globally, Cadence is helping us reach tomorrow, today.

Cadence invests across the globe, principally in lithium mining projects. Its primary strategy is taking significant economic stakes in upstream exploration and development assets within strategic metals. We identify assets that have strategic cost advantages that are not replicable, with the aim of achieving lower quartile production costs. The combination of this approach and seeking value opportunities allows us to identify projects capable of achieving high rates of return.

The Cadence board has a blend of mining, commodity investing, fund management and deal structuring knowledge and experience, that is supported by access to key marketing, political and industry contacts. These resources are leveraged not only in our investment decisions but also in continuing support of our investments, whether it be increasing market awareness of an asset, or advising on product mix or path to production. Cadence Mineral's goal is to assist management to rapidly develop the project up the value curve and deliver excellent returns on its investments.

 

END

 

 

DSHLLFELDDIAIIT