Tertiary Minerals plc
("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 | ||||
| b) | Nature of the transaction: | Grant of warrants to subscribe for new ordinary shares | ||||
| c) | Price(s) and volume(s): |
| ||||
| d) | Aggregated information: Aggregated volume: Price: | Single transaction as in 4 c) above
| ||||
| 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 | ||||
| b) | Nature of the transaction: | Grant of warrants to subscribe for new ordinary shares | ||||
| c) | Price(s) and volume(s): |
| ||||
| d) | Aggregated information: Aggregated volume: Price: | Single transaction as in 4 c) above
| ||||
| 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 | ||||
| b) | Nature of the transaction: | Grant of warrants to subscribe for new ordinary shares | ||||
| c) | Price(s) and volume(s): |
| ||||
| d) | Aggregated information: Aggregated volume: Price: | Single transaction as in 4 c) above
| ||||
| e) | Date of the transaction: | 14 February 2024 13:00 UTC | ||||
| f) | Place of the transaction: | Outside a trading venue | ||||
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