METALNRG PLC

Director's Dealing • Feb 19, 2021

National Storage Mechanism | Additional information

RNS Number : 7982P

MetalNRG PLC

19 February 2021

THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED

AND NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN

PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OR ANY

OTHER JURISDICTION IN WHICH THE RELEASE, PUBLICATION OR DISTRIBUTION

WOULD BE UNLAWFUL.

19 February 2021                                                                                                                                 

METALNRG plc

("MetalNRG" or the "Company")

New Share Option Scheme and Grant of Options

MetalNRG plc, (LON:MNRG), the natural resource investing and exploration company, announces the introduction of the MetalNRG Share Option Plan 2021 (the "Plan") for executives and selected senior management, designed to promote the retention, recruitment and incentivisation of the Company's leadership team.

The number of ordinary shares of 0.01 pence ("Ordinary Shares") that may be issued to satisfy options granted under the Plan ("2021 Options") and any other employee share scheme in any 10-year rolling period is limited to a maximum of 10 per cent of the Company's issued Ordinary Share capital.

With the introduction of the Plan, the Board has approved the grant of the following 2021 Options at an exercise price per Ordinary Share of £0.0067 [(being the closing mid-market price on 1 February 2021). 

Up to 11,194,030 new Ordinary Shares may be issued under the 2021 Options granted which represents approximately 2.5 per cent of the Company's issued Ordinary Share capital.

Name	Position	2021 Options granted
Rolf Gerritsen	Chief Executive Officer	4,477,612
Pierpaolo Rocco	Executive Director, Oil & Gas	4,477,612
Windell Callaghan	Chief Financial Officer	2,238,806

Subject to the rules of the Plan, continued employment and the achievement of performance conditions (as may be amended, relaxed or waived pursuant to the Plan rules) the 2021 Options granted to Rolf Gerritsen, Pierpaolo Rocco and Windell Callaghan will vest every six months in the period commencing with the date of the 2021 Options being granted and ending on 1 February 2024.  In addition, percentages of Rolf Gerritsen's 2021 Options will vest based on the performance of the MetalNRG share price. 

Rolf Gerritsen's performance conditions applicable to the 2021 Options are:

-           that MetalNRG has secured sufficient funding to complete the planned works in respect of its current projects and the completion of further value-added projects

-           the share price will have to be on the strike price for a period of at least 5 business days on a weighted average basis.

Pierpaolo Rocco's performance conditions are related to the performance of the Company's Oil & Gas projects and the business and management of the subsidiary, BritNRG Limited. 

Windell Callaghan's performance conditions are related to the accounting and finance functions of the Company.

In addition to the 2021 Options, the Board has approved the grant of unapproved options (the "Options") to each of the Directors at an exercise price per Ordinary Share of £0.0067 [(being the closing mid-market price on 1 February 2021). 

Up to 6,000,000 new Ordinary Shares may be issued under the Options granted which represents approximately 1.3 per cent of the Company's issued Ordinary Share capital.

Name	Position	Options granted
Rolf Gerritsen	Chief Executive Officer	1,500,000
Christopher Latilla-Campbell	Chairman	1,500,000
Pierpaolo Rocco	Executive Director, Oil & Gas	1,500,000
Christian Schaffalitzky	Director	1,500,000

The Options will vest with the Directors based on the performance of the MetalNRG share price and the Options may be exercised twice yearly, in July and in December. 

The transaction notifications for each PDMR can be found below.

The information set out below is provided in accordance with the requirements of the UK Market Abuse Regulation:

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

Rolf Gerritsen

2.         

Reason for the notification

a.         

Position/status

Chief Executive Officer, MetalNRG plc

b.         

Initial notification

/Amendment

Initial notification

3.         

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a.         

Name

MetalNRG plc

b.         

LEI

2138003C24H79U5QZH21

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 0.01 pence each

GB00B15FS791

b.         

Nature of the transaction

Grant of share options over Ordinary Shares

c.

Currency

GBP

d.

Price(s) and Volume(s)

	Price(s)	Volume(s)
	NIL	4,477,612
	NIL	1,500,000

e.         

Aggregated information

Aggregated volume

Price

	Price(s)	Volume(s)
	NIL	5,977,612

f.         

Date of the transaction

19.02.2021

g.         

Place of the transaction

London  

1.         

Details of the person discharging managerial responsibilities / person closely associated

a.         

Name

Pierpaolo Rocco

2.         

Reason for the notification

a.         

Position/status

Executive Director, Oil & Gas, MetalNRG plc

b.         

Initial notification

/Amendment

Initial notification

3.         

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a.         

Name

MetalNRG plc

b.         

LEI

2138003C24H79U5QZH21

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 0.01 pence each

GB00B15FS791

b.         

Nature of the transaction

Grant of share options over Ordinary Shares

c.

Currency

GBP

d.         

Price(s) and volume(s)

	Exercise Price(s)	Volume(s)
	NIL	4,477,612
	NIL	1,500,000

e.         

Aggregated information

Aggregated

volume

Price

	Price(s)	Volume(s)
	NIL	5,977,612

f.         

Date of the transaction

19.02.2021

g.         

Place of the transaction

London  

1.         

Details of the person discharging managerial responsibilities / person closely associated

a.         

Name

Windell Callaghan

2.         

Reason for the notification

a.         

Position/status

Chief Financial Officer, MetalNRG plc

b.         

Initial notification

/Amendment

Initial notification

3.         

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a.         

Name

MetalNRG plc

b.         

LEI

2138003C24H79U5QZH21

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 0.01 pence each

GB00B15FS791

b.         

Nature of the transaction

Grant of share options over Ordinary Shares

c.

Currency

GBP

d.         

Price(s) and volume(s)

	Exercise Price(s)	Volume(s)
	NIL	2,238,806

e.         

Aggregated information

Aggregated volume

Price

	Price(s)	Volume(s)
	NIL	2,238,806

f.         

Date of the transaction

19.02.2021

g.         

Place of the transaction

London

1.         

Details of the person discharging managerial responsibilities / person closely associated

a.         

Name

Christopher Latilla-Campbell

2.         

Reason for the notification

a.         

Position/status

Chairman, MetalNRG plc

b.         

Initial notification

/Amendment

Initial notification

3.         

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a.         

Name

MetalNRG plc

b.         

LEI

2138003C24H79U5QZH21

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 0.01 pence each

GB00B15FS791

b.         

Nature of the transaction

Grant of share options over Ordinary Shares

c.

Currency

GBP

d.         

Price(s) and volume(s)

	Exercise Price(s)	Volume(s)
	NIL	1,500,000

e.         

Aggregated information

Aggregated volume

Price

	Price(s)	Volume(s)
	NIL	1,500,000

f.         

Date of the transaction

19.02.2021

g.         

Place of the transaction

London

1.         

Details of the person discharging managerial responsibilities / person closely associated

a.         

Name

Christian Schaffalitzky

2.         

Reason for the notification

a.         

Position/status

Director, MetalNRG plc

b.         

Initial notification

/Amendment

Initial notification

3.         

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a.         

Name

MetalNRG plc

b.         

LEI

2138003C24H79U5QZH21

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 0.01 pence each

GB00B15FS791

b.         

Nature of the transaction

Grant of share options over Ordinary Shares

c.

Currency

GBP

d.         

Price(s) and volume(s)

	Exercise Price(s)	Volume(s)
	NIL	1,500,000

e.         

Aggregated information

Aggregated volume

Price

	Price(s)	Volume(s)
	NIL	1,500,000

f.         

Date of the transaction

19.02.2021

g.         

Place of the transaction

London

The release of this information was arranged by Rolf Gerritsen, Chief Executive Officer.

END

Contact details:

MetalNRG PLC Christopher Latilla-Campbell	+44 (0) 20 7796 9060
Corporate Adviser PETERHOUSE CAPITAL LIMITED Lucy Williams/Duncan Vasey	+44 (0) 20 7469 0930
Corporate Broker SI CAPITAL Nick Emerson	+44 (0) 1483 413500

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