Tertiary Minerals plc
www.tertiaryminerals.com
("Tertiary" or "the Company")
22 February 2019
Director Dealing, Issue of Equity, Total Voting Rights and Warrants
Tertiary Minerals plc, the AIM traded company building a strategic position in the fluorspar sector announces that a non-executive director of the Company is receiving settlement of a portion of his outstanding fees in ordinary shares of 0.01 pence each in the Company ("Ordinary Shares") calculated with reference to the closing mid-market price on the trading day prior to the issue of the Ordinary Shares.
On 21 February 2019, the Company resolved to issue a total of 418,578 Ordinary Shares to Donald McAlister for the six-month fee period ended 31 December 2018.
These Ordinary Shares were issued at a price of 0.325 pence per share, being the closing mid-market price on 20 February 2019.
The following table shows the number of Ordinary Shares issued to Donald McAlister together with his total holdings following the issue of the Ordinary Shares:
Director |
Number of Ordinary Shares issued |
Price of Ordinary Shares issued |
Interest in total number of Ordinary Shares following Admission |
% of Company's issued share capital following Admission |
Donald McAlister |
418,578 |
0.325 pence |
1,295,343 |
0.292% |
Application has been made to the London Stock Exchange for 418,578 Ordinary Shares to be admitted to trading on AIM ("Admission"), and it is expected that Admission will occur on or around 28 February 2019.
Total Voting Rights
In accordance with Financial Conduct Authority's Disclosure and Transparency Rules ("DTRs"), following the issue and Admission, the total issued share capital of the Company with voting rights will be 443,075,665 ordinary shares.
The above figure of 443,075,665 ordinary shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the DTRs.
Grant of Warrants
As part of the remuneration of employees and directors the Company also announces that on 21 February 2019 the Board of the Company granted a total of 8.5 million warrants to subscribe for Ordinary Shares as follows:
Grantee |
No. of Warrants |
Warrant exercise price (pence per share) |
Employees (4) |
(Total of) 1,600,000 |
0.35 |
Company Secretary Mr Colin Fitch |
400,000 |
0.35 |
Managing Director Mr Richard Clemmey |
3,000,000 |
0.35 |
Non-Executive Director Mr Donald McAlister |
1,500,000 |
0.50 |
Executive Chairman Mr Patrick Cheetham |
2,000,000 |
0.50 |
Each warrant entitles the holder to subscribe for one ordinary share in the Company at their respective warrant exercise prices at any time within 4 years from 21 February 2020.
Market Abuse Regulation
The notifications below, made in accordance with the requirements of the EU Market Abuse Regulation, provides further detail on the issue of ordinary shares to a director.
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: |
Donald McAlister (1st submission) |
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: |
Tertiary Minerals plc |
b) |
LEI: |
213800OT9C6DQN9VO543 |
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 shares of 0.01p each
GB0008854563 |
b) |
Nature of the transaction: |
Issue of new ordinary shares in lieu of fees |
c) |
Price(s) and volume(s): |
Price(s) |
Volume(s) |
0.325 pence |
418,578 |
|
d) |
Aggregated information: Aggregated volume: Price: |
Single transaction as in 4 c) above
Price(s) |
Volume(s) |
0.325 pence |
418,578 |
|
e) |
Date of the transaction: |
21 February 2019 14:00 UTC |
f) |
Place of the transaction: |
Outside a trading venue |
1. |
Details of the person discharging managerial responsibilities/person closely associated |
a) |
Name: |
Donald McAlister (2nd submission) |
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: |
Tertiary Minerals plc |
b) |
LEI: |
213800OT9C6DQN9VO543 |
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: |
Warrants, each warrant to subscribe for one ordinary share of 0.01p each
GB0008854563 (Ordinary Shares) |
b) |
Nature of the transaction: |
Grant of warrants to subscribe for new ordinary shares |
c) |
Price(s) and volume(s): |
Price(s) |
Volume(s) |
Exercise price of 0.5 pence |
1,500,000 warrants |
|
d) |
Aggregated information: Aggregated volume: Price: |
Single transaction as in 4 c) above
Price(s) |
Volume(s) |
0.5 pence |
1,500,000 warrants |
|
e) |
Date of the transaction: |
21 February 2019 16:00 UTC |
f) |
Place of the transaction: |
Outside a trading venue |
1. |
Details of the person discharging managerial responsibilities/person closely associated |
a) |
Name: |
Judith Hayes |
2. |
Reason for the notification |
a) |
Position/status: |
Administration Manager |
b) |
Initial notification/Amendment: |
Initial notification |
3. |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
a) |
Name: |
Tertiary Minerals plc |
b) |
LEI: |
213800OT9C6DQN9VO543 |
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: |
Warrants, each warrant to subscribe for one ordinary share of 0.01p each GB0008854563 (Ordinary Shares) |
b) |
Nature of the transaction: |
Grant of warrants to subscribe for new ordinary shares |
c) |
Price(s) and volume(s): |
Price(s) |
Volume(s) |
Exercise Price of 0.35 pence |
400,000 warrants |
|
d) |
Aggregated information: Aggregated volume: Price: |
Single transaction as in 4 c) above
Price(s) |
Volume(s) |
Exercise price of 0.35 pence |
400,000 warrants |
|
e) |
Date of the transaction: |
21 February 2019 16:00 UTC |
f) |
Place of the transaction: |
Outside a trading venue |
1. |
Details of the person discharging managerial responsibilities/person closely associated |
a) |
Name: |
Celia Jill Barnard-Blom |
2. |
Reason for the notification |
a) |
Position/status: |
Company Accountant |
b) |
Initial notification/Amendment: |
Initial notification |
3. |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
a) |
Name: |
Tertiary Minerals plc |
b) |
LEI: |
213800OT9C6DQN9VO543 |
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: |
Warrants, each warrant to subscribe for one ordinary share of 0.01p each GB0008854563 (Ordinary Shares) |
b) |
Nature of the transaction: |
Grant of warrants to subscribe for new ordinary shares |
c) |
Price(s) and volume(s): |
Price(s) |
Volume(s) |
Exercise Price of 0.35 pence |
400,000 warrants |
|
d) |
Aggregated information: Aggregated volume: Price: |
Single transaction as in 4 c) above
Price(s) |
Volume(s) |
Exercise price of 0.35 pence |
400,000 warrants |
|
e) |
Date of the transaction: |
21 February 2019 16:00 UTC |
f) |
Place of the transaction: |
Outside a trading venue |
1. |
Details of the person discharging managerial responsibilities/person closely associated |
a) |
Name: |
Jaelithe Talboom |
2. |
Reason for the notification |
a) |
Position/status: |
Business Assistant |
b) |
Initial notification/Amendment: |
Initial notification |
3. |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
a) |
Name: |
Tertiary Minerals plc |
b) |
LEI: |
213800OT9C6DQN9VO543 |
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: |
Warrants, each warrant to subscribe for one ordinary share of 0.01p each GB0008854563 (Ordinary Shares) |
b) |
Nature of the transaction: |
Grant of warrants to subscribe for new ordinary shares |
c) |
Price(s) and volume(s): |
Price(s) |
Volume(s) |
Exercise Price of 0.35 pence |
400,000 warrants |
|
d) |
Aggregated information: Aggregated volume: Price: |
Single transaction as in 4 c) above
Price(s) |
Volume(s) |
Exercise price of 0.35 pence |
400,000 warrants |
|
e) |
Date of the transaction: |
21 February 2019 16:00 UTC |
f) |
Place of the transaction: |
Outside a trading venue |
1. |
Details of the person discharging managerial responsibilities/person closely associated |
a) |
Name: |
Joel Cheetham |
2. |
Reason for the notification |
a) |
Position/status: |
Data Analyst |
b) |
Initial notification/Amendment: |
Initial notification |
3. |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
a) |
Name: |
Tertiary Minerals plc |
b) |
LEI: |
213800OT9C6DQN9VO543 |
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: |
Warrants, each warrant to subscribe for one ordinary share of 0.01p each GB0008854563 (Ordinary Shares) |
b) |
Nature of the transaction: |
Grant of warrants to subscribe for new ordinary shares |
c) |
Price(s) and volume(s): |
Price(s) |
Volume(s) |
Exercise Price of 0.35 pence |
400,000 warrants |
|
d) |
Aggregated information: Aggregated volume: Price: |
Single transaction as in 4 c) above
Price(s) |
Volume(s) |
Exercise price of 0.35 pence |
400,000 warrants |
|
e) |
Date of the transaction: |
21 February 2019 16:00 UTC |
f) |
Place of the transaction: |
Outside a trading venue |
1. |
Details of the person discharging managerial responsibilities/person closely associated |
a) |
Name: |
Colin Fitch |
2. |
Reason for the notification |
a) |
Position/status: |
Company Secretary |
b) |
Initial notification/Amendment: |
Initial notification |
3. |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
a) |
Name: |
Tertiary Minerals plc |
b) |
LEI: |
213800OT9C6DQN9VO543 |
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: |
Warrants, each warrant to subscribe for one ordinary share of 0.01p each GB0008854563 (Ordinary Shares) |
b) |
Nature of the transaction: |
Grant of warrants to subscribe for new ordinary shares |
c) |
Price(s) and volume(s): |
Price(s) |
Volume(s) |
Exercise Price of 0.35 pence |
400,000 warrants |
|
d) |
Aggregated information: Aggregated volume: Price: |
Single transaction as in 4 c) above
Price(s) |
Volume(s) |
Exercise price of 0.35 pence |
400,000 warrants |
|
e) |
Date of the transaction: |
21 February 2019 16:00 UTC |
f) |
Place of the transaction: |
Outside a trading venue |
1. |
Details of the person discharging managerial responsibilities/person closely associated |
a) |
Name: |
Richard Clemmey |
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: |
Tertiary Minerals plc |
b) |
LEI: |
213800OT9C6DQN9VO543 |
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: |
Warrants, each warrant to subscribe for one ordinary share of 0.01p each
GB0008854563 (Ordinary Shares) |
b) |
Nature of the transaction: |
Grant of warrants to subscribe for new ordinary shares |
c) |
Price(s) and volume(s): |
Price(s) |
Volume(s) |
Exercise price of 0.35 pence |
3,000,000 warrants |
|
d) |
Aggregated information: Aggregated volume: Price: |
Single transaction as in 4 c) above
Price(s) |
Volume(s) |
Exercise price of 0.35 pence |
3,000,000 warrants |
|
e) |
Date of the transaction: |
21 February 2019 16:00 UTC |
f) |
Place of the transaction: |
Outside a trading venue |
1. |
Details of the person discharging managerial responsibilities/person closely associated |
a) |
Name: |
Patrick Cheetham |
2. |
Reason for the notification |
a) |
Position/status: |
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: |
Tertiary Minerals plc |
b) |
LEI: |
213800OT9C6DQN9VO543 |
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: |
Warrants, each warrant to subscribe for one ordinary share of 0.01p each GB0008854563 (Ordinary Shares) |
b) |
Nature of the transaction: |
Grant of warrants to subscribe for new ordinary shares |
c) |
Price(s) and volume(s): |
Price(s) |
Volume(s) |
Exercise Price of 0.5 pence |
2,000,000 warrants |
|
d) |
Aggregated information: Aggregated volume: Price: |
Single transaction as in 4 c) above
Price(s) |
Volume(s) |
Exercise price of 0.5 pence |
2,000,000 warrants |
|
e) |
Date of the transaction: |
21 February 2019 16:00 UTC |
f) |
Place of the transaction: |
Outside a trading venue |
Enquiries Tertiary Minerals plc Patrick Cheetham, Executive Chairman Richard Clemmey, Managing Director |
+44 (0)1625 838 679 |
SP Angel Corporate Finance LLP Nominated Adviser & Joint Broker Ewan Leggat /Lindsay Mair |
+44 (0) 20 3470 0470 |
SVS Securities plc Joint Broker Elliot Hance |
+44 (0)203 700 0093 |
Notes to Editors
Tertiary Minerals plc (ticker symbol 'TYM') is an AIM-traded mineral exploration and development company building a significant strategic position in the fluorspar sector. Fluorspar is an essential raw material in the chemical, steel and aluminium industries. Tertiary controls two significant Scandinavian projects (Storuman in Sweden and Lassedalen in Norway) and a large deposit of strategic significance in Nevada USA (MB Project).
