Grant of Options

10 March 2022

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