- Title:
Directors' Grant of Options - Time:
11:09:29 - Date:
15 Jul 2020 - Category:
Director/PDMR dealings - ID:
0923T
Cobra Resources plc
("Cobra" or the "Company")
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF EU REGULATION 596/2014. UPON THE PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY NEWS SERVICE, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION.
For immediate release
15 July 2020
Cobra Resources plc
(Incorporated in England and Wales with company number 11170056)
Directors' Grant of Options
Cobra Resources plc (the "Company") today announces the grant (the "Grant") of share options (the "Options") to the directors of the Company which are exercisable over a total of 15,000,000 ordinary shares of nominal value 1 pence each (the "Ordinary Shares") in the issued share capital of the Company.
The Options are exercisable at between 2 and 4 pence per Ordinary Share and subject to certain vesting conditions including;
1) The Company achieving mineral resources of 1 million ounces; or
2) A market capitalisation of £10 million.
Persons discharging managerial responsibility participating in the Grant are tabled below:
| Name |
Title |
No. of Share Options Granted |
Date of Grant |
| David Clarke |
Non-Executive Director |
5,000,000 |
14/07/2020 |
| Daniel Maling |
Non-Executive Director |
5,000,000 |
14/07/2020 |
| Greg Hancock |
Non-Executive Chairman |
5,000,000 |
14/07/2020 |
Following this announcement, the total number of current director options granted and outstanding is in respect of 15,672,336 Ordinary Shares representing 8 per cent. of the current issued share capital of the Company.
The information set out below is provided in accordance with the requirements of Regulation 19(3) of the EU Market Abuse Regulation No 596/2014:
| 1. |
Details of PDMR / person closely associated |
|||||||||||||
| a) |
Name |
(i) David Clarke (ii) Daniel Maling (iii) Greg Hancock |
||||||||||||
| 2. |
Reason for the notification |
|||||||||||||
| a) |
Position / status |
(i) Non-Executive Director (ii) Non-Executive Director (iii) Non-Executive Chairman |
||||||||||||
| b) |
Initial notification /amendment |
Initial notification |
||||||||||||
| 3. |
Details of the issuer |
|||||||||||||
| a) |
Name |
Cobra Resources plc |
||||||||||||
| b) |
LEI |
213800XTW5PLLK72TQ57 |
||||||||||||
| 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 |
Ordinary Shares of nominal value 1p each |
||||||||||||
| b) |
Identification code of the Financial Instrument |
ISIN for Cobra Resources plc: GB00BGJW5255 |
||||||||||||
| c) |
Nature of the transaction |
Grant of options over Ordinary Shares in Cobra Resources plc under the Share Option Plan with Non-Employee Sub-Plan and US Sub-Plan
|
||||||||||||
| d) |
Price(s) and volume(s) |
|
||||||||||||
| e) |
Aggregated information Aggregated volume
Price |
N/A
|
||||||||||||
| f) |
Date of the transaction |
14 July 2020 |
||||||||||||
| g) |
Place of the transaction |
XLON |
||||||||||||
The person who arranged for the release of this announcement on behalf of the Company was Dan Mailing, Non-Executive Director of the Company.
End
Enquiries:
| Cobra Resources plc |
Craig Moulton Daniel Maling |
+61 (0) 8 9316 4938 +44 (0) 758 003 2520 |
| SI Capital Limited (Joint Broker) |
Nick Emerson Sam Lomanto |
+44 (0) 14 8341 3500 |
| Peterhouse Capital Limited (Joint Broker) |
Duncan Vasey Lucy Williams |
+44 (0) 20 7469 0932 |
Directors' Grant of Options11:09:2915 Jul 2020Director/PDMR dealings0923T