Issue of Shares under Share Incentive Plan

RNS Number : 0382K

Regency Mines PLC

06 April 2018

 

Regency Mines Plc

("Regency Mines" or the "Company")

Issue of Shares under Share Incentive Plan and Directors' Dealings

6 April 2018

Regency Mines Plc, the natural resource investment and development company, announces that on 3 April 2018 the Board of Directors approved the issuance of 3,353,682 ordinary shares in the Company ("Ordinary Shares") under the Company's Share Incentive Plan ("SIP") for the 2017/18 tax year as agreed in the Trustees meeting held on 3 April 2018.  

Under the terms of the SIP, once employees have satisfactorily completed their probationary period, they may sign up to Partnership Share Agreement, however, they may only begin active participation in the Partnership Agreement at the beginning of the tax year.

Partnership Share Agreement - Share Award

Employees may purchase up to £1,800 (or up to a maximum of 10% of their salary, whichever is the lower) worth of Shares (the "Partnership Shares") in any one tax year. The Company will match these shares on a 2:1 basis (the "Matching Shares"). The Partnership and the Matching Shares are awarded with reference to the lower of the mid-market closing price at the beginning or at the end of the accumulation period.

Therefore, 1,117,894 Partnership Shares and 2,235,788 Matching Shares (being 3,353,682 Shares in aggregate) have been awarded with reference to the mid-market closing price of 0.475p as of 29 March 2018, which is the end of the accumulation period for the 2017/18 tax year.

The Directors have participated in the Partnership Share award and the above numbers include such participation, further details of which are set out below.

All shares awarded under the Partnership Share Agreement will be held by the SIP Trustees and such shares cannot be released to participants until five years after the date of the award, except in specific circumstances.

Directors' Participation

In respect of the 2017/2018 tax year, all Directors were eligible to participate in the Partnership and Matching Share schemes. These shares awarded to Directors have been included in the table below, which sets out the total shareholding and interests of the Directors in the enlarged share capital of the Company:

Directors	New Ordinary Shares	Ordinary Shares Post Issuance		Total Shares	% of Enlarged Issued Share Capital	Options	Warrants
		Direct*	Indirect**
Andrew R M Bell	1,136,841	27,600,720	6,014,495	33,615,215	4.25%	13,360,000	10,327,993
Edward Bugnosen	1,080,000	10,000	5,840,623	5,850,623	0.74%	560,000	-
Scott Kaintz	1,136,841	930,143	6,014,495	6,944,638	0.88%	12,420,000	909,091

*Post issuance, Mr A Bell holds 4,825,907 shares in the account of Alliance Trust Nominees Limited, 977,429 shares in the name of Beaufort Securities Nominees Limited, and 2,302,435 shares in the account of Rock (Nominees) Limited. Mr S Kaintz holds 21,052 shares in the account of Hargreave Hale Limited.

**In addition, Mr A Bell and Mr S Kaintz are each beneficiaries of 6,014,495 shares held on their behalf by the SIP Trustees whilst Mr E Bugnosen is a beneficiary of 5,840,623 shares held on his behalf by the SIP Trustees.

Admission to trading on AIM and Total Voting Rights

Application is being made to AIM for 3,353,682 new Ordinary Shares allotted in relation to the SIP for 2017/18 tax year to be admitted to trading on AIM. Admission of the 3,353,682 new Ordinary Shares is expected on or around 11 April 2018.

Following the issue of the 3,353,682 new Ordinary Shares, the issued share capital of the Company consists of 791,239,654 ordinary shares of 0.01p each with voting rights. No Ordinary Shares are held in Treasury.

The above figure of 791,239,654 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 Disclosure and Transparency Rules.

For Further Information Contact:

Andrew Bell 0207 747 9960                                                       Chairman Regency Mines Plc

Scott Kaintz 0207 747 9960                                                        Executive Director Regency Mines Plc

Roland Cornish/Rosalind Hill Abrahams 0207 628 3396         NOMAD Beaumont Cornish Limited

Jason Robertson 0207 374 2212                                                Broker First Equity Limited

The following disclosure is made in accordance with Article 19 of the EU Market Abuse Regulation 596/2014.

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	1. Andrew R M Bell 2. Edward Sr Bugnosen 3. Scott C Kaintz
2	Reason for the notification
a)	Position/status	1. Executive Chairman 2. Non-Executive Director 3. 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	Regency Mines Plc
b)	LEI	2138009ECXQQ3EGKVY57
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 0.01p each
	Identification code	ISIN: GB00BYVT4J08
b)	Nature of the transaction	Issue of Shares under Share Incentive Plan
c)	Price(s) and volume(s)		Name Price(s) Volume(s) Andrew R M Bell 0.475p 1,136,841 Edward Sr Bugnosen 0.475p 1,080,000 Scott C Kaintz 0.475p 1,136,841
d)	Aggregated information
	- Aggregated volume	3,353,682
	- Price	0.475 pence
e)	Date of the transaction	3 April 2018
f)	Place of the transaction	Outside a trading venue

 

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