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On 17 January 2025, Cadence Minerals Plc announced the award of 14,720,000 share options. These options are exercisable at 2 pence per share, expire on 31 December 2030, and represent 4.97% of the existing issued share capital. Four Persons Discharging Managerial Responsibilities (PDMRs)—Andrew Suckling, Kiran Morzaria, Donald Strang, and Adrian Fairbourn—each received 3,680,000 options.
| Date | 17 Jan 2025 |
| Time | 08:47:24 |
| Category | Director/PDMR dealings |
| ID | 7670T |
17 January 2025
Cadence Minerals Plc
("Cadence Minerals", "Cadence" or "the Company")
Issue of Options
Cadence Minerals (AIM: KDNC) announces the award of 14,720,000 share options ("Share Options"). Each Share Option is exercisable over one ordinary share in the capital of the Company ("the "Ordinary Shares"). The Share Options are exercisable at a price of 2 pence per share being approximately 10% premium to the closing mid-price of the Ordinary Shares on 16 January 2025 of 1.85 pence. These options will vest immediately and will expire on 31 December 2030.
The total options granted over Ordinary Shares to Persons Discharging Managerial Responsibilities within the Company (each being a "PDMR") are detailed below:
|
Director, PDMR |
Position |
Options |
|
Andrew Suckling |
Non-Executive Chairman |
3,680,000 |
|
Kiran Morzaria |
Chief Executive Officer |
3,680,000 |
|
Donald Strang |
Finance Director |
3,680,000 |
|
Adrian Fairbourn |
Non-Executive Director |
3,680,000 |
The Share Options represent in aggregate 4.97% of the existing issued share capital. There are currently 7,200,000 other options outstanding.
The Directors of the Company accept responsibility for the contents of this announcement.
- Ends -
The information communicated within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with the Company's obligations under Article 17 of MAR. Upon the publication of this announcement, this inside information is now considered to be in the public domain.
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For further information:
|
|
|
Cadence Minerals plc |
+44 (0) 20 3582 6636 |
|
Andrew Suckling |
|
|
Kiran Morzaria |
|
|
|
|
|
Zeus Capital Limited (NOMAD & Broker) |
+44 (0) 20 3829 5000 |
|
James Joyce |
|
|
Darshan Patel |
|
|
|
|
|
|
|
|
Fortified Securities - Joint Broker |
+44 (0) 20 3411 7773 |
|
Guy Wheatley |
|
|
|
|
|
Brand Communications |
+44 (0) 7976 431608 |
|
Public & Investor Relations |
|
|
Alan Green |
|
|
1 |
Details of the person discharging managerial responsibilities/person closely associated
|
|||||
|
a) |
Name
|
Kiran Morzaria |
||||
|
2 |
Reason for the notification |
|||||
|
a) |
Position / Status
|
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
Identification Code
|
Options over Ordinary Shares
GB00B067JC96 |
||||
|
b) |
Nature of the transaction
|
Issue of options |
||||
|
c) |
Price(s) and volume(s)
|
|
||||
|
d) |
Aggregated information
- Aggregated volume
- Price
|
3,680,000
2p |
||||
|
e) |
Date of the transaction
|
17 January 2025 |
||||
|
f) |
Place of the transaction
|
Outside of a trading venue |
||||
|
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
Identification Code
|
Options over Ordinary Shares
GB00B067JC96 |
||||
|
b) |
Nature of the transaction
|
Issue of options |
||||
|
c) |
Price(s) and volume(s)
|
|
||||
|
d) |
Aggregated information
- Aggregated volume
- Price
|
3,680,000
2p |
||||
|
e) |
Date of the transaction
|
17 January 2025 |
||||
|
f) |
Place of the transaction
|
Outside of a trading venue |
||||
|
1 |
Details of the person discharging managerial responsibilities/person closely associated
|
|||||
|
a) |
Name
|
Andrew Suckling |
||||
|
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
Identification Code
|
Options over Ordinary Shares
GB00B067JC96 |
||||
|
b) |
Nature of the transaction
|
Issue of options |
||||
|
c) |
Price(s) and volume(s)
|
|
||||
|
d) |
Aggregated information
- Aggregated volume
- Price
|
3,680,000
2p |
||||
|
e) |
Date of the transaction
|
17 January 2025 |
||||
|
f) |
Place of the transaction
|
Outside of a trading venue |
||||
|
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
Identification Code
|
Options over Ordinary Shares
GB00B067JC96 |
||||
|
b) |
Nature of the transaction
|
Issue of options |
||||
|
c) |
Price(s) and volume(s)
|
|
||||
|
d) |
Aggregated information
- Aggregated volume
- Price
|
3,680,000
2p |
||||
|
e) |
Date of the transaction
|
17 January 2025 |
||||
|
f) |
Place of the transaction
|
Outside of a trading venue |
||||