Grant of Options
Egdon Resources plc (AIM:EDR) announces that as part of a periodic incentive review and also to compensate salary reductions taken between March 2020 and December 2022, it has granted options to the following Directors and cancelled all existing options awards.
| Director | Number of Options granted | Exercise Price (pence) | Vesting Date | Exercisable Until |
| Mark Abbott | 4,444,444 | 2.25p | 8 March 2023 | 7 March 2033 |
| Martin Durham | 3,555,556 | 2.25p | 8 March 2023 | 7 March 2033 |
The options were set at an exercise price of 2.25p being the average closing mid-price on 7 March 2022
Following the grant of the options on 8 March 2022, the interests of the Directors in the share capital of the Company are as follows:
| Director | Total number of Options held over Ordinary Shares | Total number of Warrants held over Ordinary Shares | Number of Ordinary Shares held |
| Mark Abbott | 4,444,444 | 800,000 | 9,689,387 |
| Martin Durham | 3,555,556 | 100,000 | 200,000 |
In addition, the Company has granted options to employees on the same basis as Directors. The total number of options granted to Directors and employees of the Company is 17,500,000 (Representing 3.39 % of the Company’s issued share capital).
The total number of options granted to Directors and employees of the Company that were cancelled was 9,675,122 (Representing 1.87 % of the Company’s issued share capital).
The information set out below is in accordance with the requirements of Article 19(3) of the EU Market Abuse Regulation No 596/2014.
| 1. | Details of the person discharging managerial responsibilities/person closely associated | ||
| a) | Name | Mark Abbott | |
| 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 | Egdon Resources plc | |
| b) | LEI | 213800WWGH4S9GYSPL77 | |
| 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 1 pence per share value | |
| Identification code | GB00B28YML29 | ||
| b) | Nature of the transaction | Grant of Options | |
| c) | Price(s) and volume(s) | Price(s) | Volume(s) |
| 2.25 pence | 4,444,444 | ||
| d) | Aggregated information | ||
| — Aggregated volume | 4,444,444 Ordinary Shares of 1 pence per share value | ||
| — Price11 | 2.25 pence per share | ||
| e) | Date of the transaction | 8 March 2022 | |
| f) | Place of the transaction | Outside a trading venue | |
| 1. | Details of the person discharging managerial responsibilities/person closely associated | ||
| a) | Name | Martin Durham | |
| 2. | Reason for the notification | ||
| a) | Position / status | Technical Director | |
| b) | Initial notification / amendment | Initial Notification | |
| 3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
| a) | Name | Egdon Resources plc | |
| b) | LEI | 213800WWGH4S9GYSPL77 | |
| 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 1 pence per share value | |
| Identification code | GB00B28YML29 | ||
| b) | Nature of the transaction | Grant of Options | |
| c) | Price(s) and volume(s) | Price(s) | Volume(s) |
| 2.25 pence | 3,555,556 | ||
| d) | Aggregated information | ||
| — Aggregated volume | 3,555,556 Ordinary Shares of 1 pence per share value | ||
| — Price11 | 2.25 pence per share | ||
| e) | Date of the transaction | 8 March 2022 | |
| f) | Place of the transaction | Outside a trading venue | |
| 1. | Details of the person discharging managerial responsibilities/person closely associated | ||
| a) | Name | Mark Abbott | |
| 2. | Reason for the notification | ||
| a) | Position / status | Managing Director | |
| b) | Initial notification / amendment | Cancellation of options | |
| 3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
| a) | Name | Egdon Resources plc | |
| b) | LEI | 213800WWGH4S9GYSPL77 | |
| 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 1 pence per share value | |
| Identification code | GB00B28YML29 | ||
| b) | Nature of the transaction | Cancellation of options | |
|
c) Price(s) and volume(s) |
Price(s) | Volume(s) | |
| 10.00 pence | 600,000 | ||
| 20.62 pence | 363,725 | ||
| 9.70 pence | 979,381 | ||
| 7.85 pence | 1,210,191 | ||
| d) | Aggregated information | ||
| — Aggregated volume | 3,153,297 Ordinary Shares of 1 pence per share value | ||
| — Price11 | 10.31 pence per share | ||
| e) | Date of the transaction | 8 March 2022 | |
| f) | Place of the transaction | Outside a trading venue | |
| 1. | Details of the person discharging managerial responsibilities/person closely associated | ||
| a) | Name | Martin Durham | |
| 2. | Reason for the notification | ||
| a) | Position / status | Technical Director | |
| b) | Initial notification / amendment | Cancellation of options | |
| 3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
| a) | Name | Egdon Resources plc | |
| b) | LEI | 213800WWGH4S9GYSPL77 | |
| 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 1 pence per share value | |
| Identification code | GB00B28YML29 | ||
| b) | Nature of the transaction | Cancellation of options | |
|
c) Price(s) and volume(s) |
Price(s) | Volume(s) | |
| 22.75 pence | 659,341 | ||
| 9.70 pence | 773,196 | ||
| 7.85 pence | 955,414 | ||
| d) | Aggregated information | ||
| — Aggregated volume | 2,387,951 Ordinary Shares of 1 pence per share value | ||
| — Price11 | 12.56 pence per share | ||
| e) | Date of the transaction | 8 March 2022 | |
| f) | Place of the transaction | Outside a trading venue | |