For immediate release
4 November 2022
Xtract Resources Plc
("Xtract" or the "Company")
Award of Share Options and Settlement Shares
Director / PDMR Shareholding
Award of Share Options
The Board of Xtract announces that on 3 November 2022, the Company awarded 8,000,000 new options (representing 0.94 per cent. of the current issued share capital) to Directors and a further 8,875,000 new options (representing 1.04 per cent. of the current issued share capital) have been awarded to employees, consultants and officers of the Company.
The new options vest and are exercisable immediately on award, with an exercise price of 5.00p per new Ordinary Share. The new options will lapse five years after the date of the award, being 3 November 2027. The exercise price represents a 63 per cent. premium to the mid-market closing price of 3.075p of the Ordinary Shares as at 2 November 2022, and a 55 per cent. premium to the 30-day volume weighted average share price for the 30 trading days ended 30 October 2022. Further details of the new options awards are as follows:
| Individual | Number of new options |
| Directors: | |
| Colin Bird | 5,000,000 |
| Kjeld Thygesen | 1,000,000 |
| Joel Silberstein
| 2,000,000 |
| Other PDMR(s): | |
| Eduard Victor | 1,000,000 |
| Employees: | |
| Other | 7,875,000 |
| Total | 16,875,000 |
Issue of Settlement Shares
The Company has also today agreed to issue in aggregate 5,362,229 new Ordinary Shares in settlement of £173,200 of accrued outstanding remuneration in relation to 2021, due to certain Directors and employees of the Company to preserve the Company's cash resources ("Settlement Shares"). The Settlement Shares have been issued at a price of 3.23p per new Ordinary Share. The Settlement Shares issued to Directors and PDMRs are as follows:
| Director | Accrued fees to be settled in New Ordinary Shares | Issue price | Settlement Shares issued | Total Shareholding following the issue of the Settlement Shares | Interest in the enlarged issued share capital |
| Colin Bird | £70,000 | 3.23p | 2,167,183 | 16,754,149 | 1.97% |
| Joel Silberstein | £23,200 | 3.23p | 718,266 | 718,266 | 0.08% |
| PDMR | | | | | |
| Eduard Victor | £40,000 | 3.23p | 1,238,390 | 1,238,390 | 0.15% |
The Company has also agreed to settle £20,000 owed to a corporate creditor through the issue of a further 619,195 new Ordinary Shares at an issue price of 3.23p per new Ordinary Share ("Creditor Settlement Shares").
Application will be made for admission of the Settlement Shares and the Creditor Settlement Shares (together the "New Shares"), in aggregate amounting to 5,981,424 New Shares representing 0.70% of the current issued share capital, to trading on AIM ("Admission") and Admission is expected to occur on or about 10 November 2022. The New Shares will rank pari passu in all respects with the Company's existing issued ordinary shares.
Total Voting Rights
On Admission, the Company's issued share capital consists of 856,375,115 ordinary shares of 0.02p each with voting rights ("Ordinary Shares"). The Company does not hold any Ordinary Shares in Treasury. Therefore, the total number of Ordinary Shares in the Company with voting rights is 856,375,115. The above figure of 856,375,115 may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in the Company under the FCA's Disclosure and Transparency Rules.
A copy of this announcement: www.xtractresources.com
Enquiries:
| Xtract Resources Plc | Colin Bird, Executive Chairman
| +44 (0)20 3416 6471 |
| Beaumont Cornish Limited Nominated Adviser and Joint Broker | Roland Cornish Michael Cornish Felicity Geidt | +44 (0)207628 3369 |
|
Novum Securities Limited Joint Broker |
Jon Bellis 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 Silberstein 3. Kjeld Thygesen 4. Eduard Victor | ||||||||||||||||||||||||||
| 2
| Reason for the notification | |||||||||||||||||||||||||||
| a)
| Position/status
| 1. Chairman 2. Finance Director 3. Non-Executive Director 4. 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) | |
| | ||||||||||||||||||||||||
|
| | | ||||||||||||||||||||||||||
| d)
| Aggregated information | | ||||||||||||||||||||||||||
| | | |||||||||||||||||||||||||||
| - Aggregated volume | 9,000,000 options over Ordinary Shares | |||||||||||||||||||||||||||
| | | |||||||||||||||||||||||||||
| - Price | 9,000,000 exercisable at 5.00p
| |||||||||||||||||||||||||||
| | | |||||||||||||||||||||||||||
| e)
| Date of the transaction
| 3 November 2022 | ||||||||||||||||||||||||||
| f)
| Place of the transaction
| Outside a trading venue | ||||||||||||||||||||||||||
| 1
| Details of the person discharging managerial responsibilities / person closely associated
| |||||||||||||||||||||||
| a)
| Name
| 1. Colin Bird 2. Joel Silberstein 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 | Ordinary Shares of 0.02p each ("Ordinary Shares")
| ||||||||||||||||||||||
| | | |||||||||||||||||||||||
| Identification code | ISIN: GB00BYSX2795 | |||||||||||||||||||||||
| | | |||||||||||||||||||||||
| b)
| Nature of the transaction
| Issue of Ordinary Shares | ||||||||||||||||||||||
| c)
| Price(s) and volume(s) | |
| | ||||||||||||||||||||
|
| | | ||||||||||||||||||||||
| d)
| Aggregated information | | ||||||||||||||||||||||
| | | |||||||||||||||||||||||
| - Aggregated volume | 4,123,839 Ordinary Shares | |||||||||||||||||||||||
| | | |||||||||||||||||||||||
| - Price | 4,123,839 Ordinary Shares at 3.23p
| |||||||||||||||||||||||
| | | |||||||||||||||||||||||
| e)
| Date of the transaction
| 3 November 2022 | ||||||||||||||||||||||
| f)
| Place of the transaction
| Outside a trading venue | ||||||||||||||||||||||
ENDS
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