Tertiary Minerals (TYM), the AIM traded company building a strategic position in the fluorspar sector announces that pursuant to terms agreed on 30 April 2014 and further to the RNS dated 20 August 2014, a non-executive director of the Company will be receiving a portion of his annual fees in ordinary shares of 1 penny each in the Company, on a six-monthly ongoing basis calculated with reference to the closing mid-market price on the trading day prior to the issue of the Ordinary Shares.
On 31 January 2017, the Company resolved to issue a total of 132,720 Ordinary Shares to Donald McAlister for the period ended 31 December 2016. The Ordinary Shares were issued at a price of 1.025 pence per share, being the closing mid-market price on 30 January 2017.
The following table shows the number of Ordinary Shares issued to Donald McAlister and his total holding 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 |
132,720 |
1.025 pence |
586,614 |
0.22% |
Application has been made to the London Stock Exchange for 132,720 Ordinary Shares to be admitted to trading on AIM (“Admission”), and it is expected that Admission will occur on or around 7 February 2017.
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 267,076,933 ordinary shares.
The above figure of 267,076,933 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
The Company also announces that on 31 January 2017 the Board of the Company granted a total of 1,000,000 warrants to its employees and the Company Secretary. No warrants were issued to directors of the Company.
Each warrant entitles the holder to subscribe for one ordinary share of the Company at the price of 1.025 pence per share, being the closing mid-market price on 30 January 2017, and the warrants may be exercised at any time within 4 years from 30 January 2018.
Market Abuse Regulation
The notification 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 |
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a) |
Name: |
Donald McAlister |
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2. |
Reason for the notification |
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a) |
Position/status: |
Non-Executive Director |
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b) |
Initial notification/Amendment: |
Initial notification |
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3. |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
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a) |
Name: |
Tertiary Minerals plc |
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b) |
LEI: |
213800OT9C6DQN9VO543 |
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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 |
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a) |
Description of the financial instrument, type of instrument: Identification code: |
Ordinary shares of 1p each |
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b) |
Nature of the transaction: |
Issue of new ordinary shares in lieu of fees |
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c) |
Price(s) and volume(s): |
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d) |
Aggregated information: Aggregated volume: Price: |
Single transaction as in 4 c) above
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e) |
Date of the transaction: |
31 January 2017 14:00 UTC |
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f) |
Place of the transaction: |
Outside a trading venue |
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Enquiries
Tertiary Minerals plc Patrick Cheetham, Executive Chairman Richard Clemmey, Managing Director
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+44 (0)1625 838 679 |
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SP Angel Corporate Finance LLP Nominated Adviser & Joint Broker# Ewan Leggat /Lindsay Mair
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+44 (0) 20 3470 0470 |
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Beaufort Securities Ltd Joint Broker Elliot Hance
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+44 (0)20 7382 8300 |
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).