RNS Number : 3247D
Tertiary Minerals PLC
15 February 2024

Tertiary Minerals plc

www.tertiaryminerals.com

("Tertiary" or the "Company")

15 February 2024

Grant of Warrants

Tertiary Minerals plc (AIM:TYM), the London listed explorer focused on copper and precious metals in Zambia and Nevada, USA, announces that as part of the remuneration of employees and directors, on 14 February 2024, the Board of the Company granted a total of 10,000,000 five-year warrants to subscribe for new Ordinary Shares of 0.01 pence each ("New Warrants").

4,000,000 of the New Warrants were issued to employees of the Company, and 6,000,000 of the New Warrants were issued to the directors of the Company, as set out in the table below. The New Warrants are exercisable at 0.085 pence per share, being the closing mid-market price on 13 February 2024, have a five-year term and do not become exercisable (vested) until 12 months from the date of issue.

Grantee

Position

No. of Warrants

Exercise price (pence per share)

Vesting Period

Patrick Cheetham

Executive Chairman

2,000,0000

0.085p

12 months

Donald McAlister

Non-Executive Director

2,000,0000

0.085p

12 months

Dr. Mike Armitage

Non-Executive Director

2,000,0000

0.085p

12 months

Employees (4)


4,000,0000

0.085p

12 months

For more information please contact:

Tertiary Minerals plc

Patrick Cheetham, Executive Chairman

Tel: +44 (0)1625 838 679

S P Angel Corporate Finance LLP

Nominated Adviser & Joint Broker

Richard Morrison/Caroline Rowe/Harry Davies-Ball

Tel: +44 (0)203 470 0470

Peterhouse Capital Limited

Joint Broker

Lucy Williams/Duncan Vasey

Tel: +44 (0)207 469 0930

Market Abuse Regulation

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ('MAR'). Upon the publication of this announcement via Regulatory Information Service ('RIS'), this inside information is now considered to be in the public domain.

The notifications below, made in accordance with the requirements of the Market Abuse Regulations (EU) No. 596/2014, provides further detail on the issue of warrants to employees and directors.

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:

Patrick Cheetham

2.

Reason for the notification

a)

Position/status:

Executive Chairman

b)

Initial notification/Amendment:

Initial notification

3.

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

a)

Name:

Tertiary Minerals plc

b)

LEI:

213800OT9C6DQN9VO543

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:

Warrants, each warrant to subscribe for one ordinary share of 0.01p each


GB0008854563 (Ordinary Shares)

b)

Nature of the transaction:

Grant of warrants to subscribe for new ordinary shares

c)

Price(s) and volume(s):

Price(s)

Volume(s)

Exercise price of 0.085 pence

2,000,000 warrants

d)

Aggregated information:

Aggregated volume:

Price:

Single transaction as in 4 c) above

Price(s)

Volume(s)

0.085 pence

2,000,000 warrants

e)

Date of the transaction:

14 February 2024

13:00 UTC

f)

Place of the transaction:

Outside a trading venue

.1

Details of the person discharging managerial responsibilities/person closely associated

a)

Name:

Donald McAlister

2.

Reason for the notification

a)

Position/status:

Non-Executive Director

b)

Initial notification/Amendment:

Initial notification

3.

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

a)

Name:

Tertiary Minerals plc

b)

LEI:

213800OT9C6DQN9VO543

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:

Warrants, each warrant to subscribe for one ordinary share of 0.01p each


GB0008854563 (Ordinary Shares)

b)

Nature of the transaction:

Grant of warrants to subscribe for new ordinary shares

c)

Price(s) and volume(s):

Price(s)

Volume(s)

Exercise price of 0.085 pence

2,000,000 warrants

d)

Aggregated information:

Aggregated volume:

Price:

Single transaction as in 4 c) above

Price(s)

Volume(s)

0.085 pence

2,000,000 warrants

e)

Date of the transaction:

14 February 2024

13:00 UTC

f)

Place of the transaction:

Outside a trading venue

.1

Details of the person discharging managerial responsibilities/person closely associated

a)

Name:

Dr. Mike Armitage

2.

Reason for the notification

a)

Position/status:

Non-Executive Director

b)

Initial notification/Amendment:

Initial notification

3.

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

a)

Name:

Tertiary Minerals plc

b)

LEI:

213800OT9C6DQN9VO543

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:

Warrants, each warrant to subscribe for one ordinary share of 0.01p each


GB0008854563 (Ordinary Shares)

b)

Nature of the transaction:

Grant of warrants to subscribe for new ordinary shares

c)

Price(s) and volume(s):

Price(s)

Volume(s)

Exercise price of 0.085 pence

2,000,000 warrants

d)

Aggregated information:

Aggregated volume:

Price:

Single transaction as in 4 c) above

Price(s)

Volume(s)

0.085 pence

2,000,000 warrants

e)

Date of the transaction:

14 February 2024

13:00 UTC

f)

Place of the transaction:

Outside a trading venue

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