23 March 2023
Zinnwald Lithium plc
("Zinnwald Lithium" or the "Company")
Issuance of RSUs and Options
Zinnwald Lithium plc (AIM: ZNWD), the German focussed lithium development company, announces the grant of a total of 3,406,780 Restricted Share Units ("RSUs") and 2,450,000 Options under the Company's Long-Term Incentive Plans relating to performance in 2022 as detailed in the 2022 Annual Accounts published on 22 March 2023.
The RSUs being granted to Executive Management under the terms of the RSU Scheme, approved by shareholders in October 2020, relate to the second performance period that ran from 1 January 2022 to 31 December 2022. The RSUs will vest two years from the date of grant, being 23 March 2025, and the related shares (or cash alternative at the Company's discretion) will be issued on that date. The RSUs are being granted to Executive Management on the following basis:
| Name | Role | No of RSUs | Grant Date | Vesting Date |
| Anton du Plessis | CEO | 2,135,593 | 23 March 2023 | 23 March 2025 |
| Cherif Rifaat | CFO | 1,271,186 | 23 March 2023 | 23 March 2025 |
| Total | | 3,406,780 | | |
The 2,450,000 Options have been granted to employees, consultants and Directors under the terms of the Scheme put in place at the time of the Company's original IPO in 2017. These Options to acquire ordinary shares in the capital of the Company have been granted at a price of 10.41p being the price of the Fundraise that was announced on 22 March 2023. Such options vest as to 1/3 on the date of grant and an additional 1/3 on each of the first and second anniversaries of the date of grant and are exercisable for a period of five years. The Options are being granted on the following basis:
| Name | Role | No of Options | Issue Price | Grant Date | Expiry Date |
| Jeremy Martin | Non-Executive Chairman | 350,000 | £0.1041 | 23 March 2023 | 23 March 2028 |
| Graham Brown | Non-Executive Director | 250,000 | £0.1041 | 23 March 2023 | 23 March 2028 |
| Peter Secker | Non-Executive Director | 250,000 | £0.1041 | 23 March 2023 | 23 March 2028 |
| Employees and Consultants | 1,600,000 | £0.1041 | 23 March 2023 | 23 March 2028 | |
| Total | | 2,450,000 | | | |
On issuance of these awards, the total number of RSUs in issue will be 5,316,310 and the total number of Options will be 6,650,000.
For further information contact:
| Anton du Plessis | Zinnwald Lithium plc | info@zinnwaldlithium.com |
| John Depasquale Dan Dearden-Williams | Allenby Capital Limited (Nominated Adviser) | +44 (0) 20 3328 5656 |
| Mike Seabrook Adam Pollock | Oberon Capital (Joint Broker) | +44 (0) 20 3179 5344 +44 (0) 20 3179 5315 |
| Richard Greenfield Charles Bendon | Tamesis Partner LLP (Co-Broker to the Placing) | +44 (0) 20 3882 2868 |
| Isabel de Salis Paul Dulieu | St Brides Partners (Financial PR) | info@stbridespartners.co.uk |
Notes
Zinnwald Lithium plc (EPIC: ZNWD.L) is an AIM quoted, German focused lithium development company focussed on becoming an important supplier to Europe's fast-growing battery sector. The Company owns the Zinnwald Lithium Project in Germany, an advanced development project with attractive economics and approved mining licence. Its PEA, published in September 2022 highlighted the positive economics of the Project with a Pre-tax NPV8 of US$1,605m, IRR of 39.0%, $192m EBITDA and a payback of just 3.3 years. The Project is located in the heart of Europe's chemical and automotive industries and has the potential to be one of Europe's more advanced battery grade lithium projects.
| 1 | Details of the person discharging managerial responsibilities / person closely associated | ||||||||||
| a) | Name |
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| 2 | Reason for the notification | ||||||||||
| a) | Position/status | See 1a) | |||||||||
| b)
| Initial notification /Amendment | Initial notification | |||||||||
| 3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||||||||||
| a) | Name | Zinnwald Lithium plc | |||||||||
| b) | LEI | 213800LXW3HPZ7ZSBE37 | |||||||||
| 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 | RSUs in relation to ordinary shares of GBP0.01 each in Zinnwald Lithium plc (or cash alternative at the Company's discretion)
Identification code (ISIN) for Zinnwald Lithium plc ordinary shares: GB00BFN4GY99 | |||||||||
| b) | Nature of the transaction | Grant of RSUs
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| c) | Price(s) and volume(s) |
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| d) | Aggregated information - Aggregated volume - Price | n/a | |||||||||
| e) | Date of the transaction | 23 March 2023 | |||||||||
| f) | Place of the transaction | Outside a trading venue | |||||||||
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |||||||||||||
| a) | Name |
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| 2 | Reason for the notification | |||||||||||||
| a) | Position/status | See 1a) | ||||||||||||
| b)
| Initial notification /Amendment | Initial notification | ||||||||||||
| 3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||||||||
| a) | Name | Zinnwald Lithium plc | ||||||||||||
| b) | LEI | 213800LXW3HPZ7ZSBE37 | ||||||||||||
| 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 | Options over ordinary shares of GBP0.01 each in Zinnwald Lithium plc
Identification code (ISIN) for Zinnwald Lithium plc ordinary shares: GB00BFN4GY99 | ||||||||||||
| b) | Nature of the transaction | Grant of options over ordinary shares
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| c) | Price(s) and volume(s) |
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| d) | Aggregated information - Aggregated volume - Price | n/a | ||||||||||||
| e) | Date of the transaction | 23 March 2023 | ||||||||||||
| f) | Place of the transaction | Outside a trading venue | ||||||||||||
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