XTRACT RESOURCES PLC — Director's Dealing 2020

Jul 3, 2020

National Storage Mechanism | Additional information

RNS Number : 0338S

Xtract Resources plc

03 July 2020

For immediate release

3 July 2020

Xtract Resources Plc

("Xtract" or the "Company")

Award of Share Options

Director / PDMR Shareholding

Award of Share Options

The Board of Xtract announces that on 2 July 2020, the Company has awarded 19,250,000 new options over ordinary shares ("New Options"). 10,000,000 New Options (representing 2.19 per cent. of the current issued share capital) have been awarded to Directors (other than Peter Moir, Non-executive Director and Chairman of the Remuneration Committee who has approved the option award) and a further 9,250,000 New Options (representing 2.02 per cent. of the current issued share capital) have been awarded to employees, consultants and officers of the Company.

Half the New Options vest and are exercisable immediately on award, with an exercise price of 1.40p (the "First Tranche"). The remainder of the New Options have an exercise price of 2p and are subject to a share performance target and will vest as and when the Xtract share price is 2p (the "Second Tranche").  The New Options will lapse five years after the date of the award, being 1 July 2025.

The exercise price of the First Tranche represents a 18.64 per cent premium to the Xtract ordinary share mid-market closing price of 1.18p as at 2 July 2020, and a 6.52 per cent premium to the 30-day volume weighted average share price for the 30 trading days ended 2 July 2020.  

Further details of the New Options awards are as follows:

Individual	Number of New Options
Directors:
Colin Bird	7,000,000
Joel Silberstein	3,000,000
Other PDMR(s):
Eduard Victor	5,000,000
Employees:
Other	4,250,000
Total	19,250,000

There have been no other awards of options in the prior 12-month period.

A copy of this announcement: www.xtractresources.com

Enquiries:

Xtract Resources Plc	Colin Bird, Executive Chairman	+44 (0)20 3416 6471 www.xtractresources.com
Beaumont Cornish Limited Nominated Adviser and Joint Broker	Roland Cornish Michael Cornish Felicity Geidt	+44 (0)207628 3369 www.beaumontcornish.co.uk
Novum Securities Limited Joint Broker	Colin Rowbury	+44 (0)207 399 9427 www.novumsecurities.com

The following disclosure is made in accordance with Article 19 of the EU Market Abuse Regulation 596/2014.

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

1.    Colin Bird

2.    Joel Siberstein

3.    Eduard Victor

2

Reason for the notification

a)

Position/status

1. Chairman

2. Finance Director

3. Chief Operating Officer (Non-Board)

b)

Initial notification /Amendment

Initial Notification

3

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

a)

Name

Xtract Resources plc

b)

LEI

213800A71LZ79EKUNC34

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

Options over Ordinary Shares of 0.02p each ("Ordinary Shares")

Identification code

ISIN: GB00BYSX2795

b)

Nature of the transaction

Issue of Options over Ordinary Shares

c)

Price(s) and volume(s)

Director	Price payable on exercise of option		Volume(s)
Colin Bird	P	1.40	3,500,000
Colin Bird	P	2.00	3,500,000
Joel Silberstein	p	1.40	1,500,000
Joel Silberstein	p	2.00	1,500,000
Eduard Victor	p	1.40	2,500,000
Eduard Victor	P	2.00	2,500,000

d)

Aggregated information

- Aggregated volume

15,000,000 options over Ordinary Shares

- Price

7,500,000 exercisable at 1.4p

7,500,000 exercisable at 2p

e)

Date of the transaction

2 July 2020

f)

Place of the transaction

Outside a trading venue

ENDS

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

DSHSSLFLDESSEEW