Grant of Options

Empire Metals Limited

29 November 2023

 

Empire Metals Limited / LON: EEE / Sector: Natural Resources

29 November 2023

Empire Metals Limited

("Empire" or "the Company")

Grant of Options

Empire Metals Limited (LON: EEE), the AIM-quoted resource exploration and development company, announces that the Remuneration Committee has agreed to issue options over a total of 8,400,000 ordinary shares of no-par value in the capital of the Company at an exercise price of 8.6 pence ('Share Options') to Directors. The Share Options will vest immediately and will expire on 28 November 2028.

The Share Options represent in aggregate 1.48% of the existing issued ordinary share capital of the Company and have been issued to directors in line with the Company's ongoing incentive plans. Following the grant of the Share Options, in aggregate there will be 56,700,000 ordinary shares of no par value of the Company under option to directors and employees of the Company, representing 9.99% of the existing issued ordinary share capital of the Company.

Market Abuse Regulation (MAR) Disclosure

Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014, as incorporated into UK law by the European Union (Withdrawal) Act 2018, until the release of this announcement.

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:	Shaun Bunn
2.	Reason for the notification
a)	Position/status:	Managing Director
b)	Initial notification/Amendment:	Initial notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name:	Empire Metals Limited
b)	LEI:	2138002IOR7OCZZPB279
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:	Share options over ordinary shares of no par value  VGG9688A1003
b)	Nature of the transaction:	Grant of options over ordinary shares
c)	Price(s) and volume(s):	Price(s) Volume(s) 8.6 pence 2,800,000
d)	Aggregated information: Aggregated volume: Price:	Single transactions as in 4 c) above Price(s) Volume(s) 8.6 pence 2,800,000
e)	Date of the transaction:	2023-11-29 07:05 hrs UTC
f)	Place of the transaction:	Outside a trading venue

1.	Details of the person discharging managerial responsibilities/person closely associated
a)	Name:	Neil O'Brien
2.	Reason for the notification
a)	Position/status:	Non-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:	Empire Metals Limited
b)	LEI:	2138002IOR7OCZZPB279
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:	Share options over ordinary shares of no par value  VGG9688A1003
b)	Nature of the transaction:	Grant of options over ordinary shares
c)	Price(s) and volume(s):	Price(s) Volume(s) 8.6 pence 1,610,000
d)	Aggregated information: Aggregated volume: Price:	Single transactions as in 4 c) above Price(s) Volume(s) 8.6 pence 1,610,000
e)	Date of the transaction:	2023-11-29 07:05 hrs UTC
f)	Place of the transaction:	Outside a trading venue

1.	Details of the person discharging managerial responsibilities/person closely associated
a)	Name:	Gregory Kuenzel
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:	Empire Metals Limited
b)	LEI:	2138002IOR7OCZZPB279
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:	Share options over ordinary shares of no par value  VGG9688A1003
b)	Nature of the transaction:	Grant of options over ordinary shares
c)	Price(s) and volume(s):	Price(s) Volume(s) 8.6 pence 2,450,000
d)	Aggregated information: Aggregated volume: Price:	Single transactions as in 4 c) above Price(s) Volume(s) 8.6 pence 2,450,000
e)	Date of the transaction:	2023-11-29 07:05 hrs UTC
f)	Place of the transaction:	Outside a trading venue

1.	Details of the person discharging managerial responsibilities/person closely associated
a)	Name:	Peter Damouni
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:	Empire Metals Limited
b)	LEI:	2138002IOR7OCZZPB279
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:	Share options over ordinary shares of no par value  VGG9688A1003
b)	Nature of the transaction:	Grant of options over ordinary shares
c)	Price(s) and volume(s):	Price(s) Volume(s) 8.6 pence 1,540,000
d)	Aggregated information: Aggregated volume: Price:	Single transactions as in 4 c) above Price(s) Volume(s) 8.6 pence 1,540,000
e)	Date of the transaction:	2023-11-29 07:05 hrs UTC
f)	Place of the transaction:	Outside a trading venue

**ENDS**

For further information please visit www.empiremetals.co.uk  or contact:

Empire Metals Ltd Shaun Bunn / Greg Kuenzel	Tel: [phone]
S. P. Angel Corporate Finance LLP (Nomad & Broker) Ewan Leggat / Adam Cowl	Tel: [phone]
Shard Capital Partners LLP (Joint Broker) Damon Heath	Tel: [phone]
St Brides Partners Ltd (Financial PR)                                          Susie Geliher / Ana Ribeiro	Tel: [phone]

About Empire Metals Limited

Empire Metals is an AIM-listed (LON: EEE) exploration and resource development company with a project portfolio comprising copper, titanium and gold interests in Australia and Austria.

The Company's strategy is to develop a pipeline of projects at different stages in the development curve. Its current focus is on the Pitfield Project in Western Australia, which has demonstrated to contain a newly recognised giant mineral system that hosts a globally significant titanium discovery.  The Company is also advancing the Eclipse-Gindalbie Project in Western Australia, which is prospective for high-grade gold and also kaolin used to produce high-purity alumina, an essential component in lithium-ion batteries.

The Company also has two further exploration projects in Australia; the Walton Project in Western Australia, and the Stavely Project in the Stavely Arc region of Victoria, in addition to three precious metals projects located in a historically high-grade gold producing region of Austria.

 

END