BLUEROCK DIAMONDS PLC 10 August 2017
BlueRock Diamonds PLC
("BlueRock" or the "Company" or "BRD")
Issue of New Share Options
BlueRock Diamonds plc, the AIM listed diamond mining company, which owns and operates the Kareevlei Diamond mine in the Kimberley region of South Africa, announces that it has granted the following new share options to Adam Waugh (the Company's CEO), Johan Milho, (the Company's mine manager) and Paul Beck (the Company's non-executive Chairman) as part of a total issue of 14,288,054 share options ("New Share Options").
Individual | Tranche A | Tranche B |
No. of New Share Options | No. of New Share Options | |
Adam Waugh | 3,417,740 | 3,417,740 |
Johan Milho | 683,548 | 683,548 |
Paul Beck | 992,096 | 992,096 |
Tranche B have an exercise price of 2.25p, a life of 5 years and vest on the later of 2 years and the date that the Company's share price reaches 3p.
In the event that the Company's convertible loan note is converted, the number of shares in both tranches will be increased by the same percentage as the share capital of the Company is increased directly as a result of the conversion.
Following the grants of the New Share Options, Mr Waugh, Mr Milho and Mr Beck will hold share options as follows:
Individual | Number of ordinary shares subject to share options | Existing | New Share Options - Tranche A | New Share Options - Tranche B | |||
No. | Exercise price (p) | No. | Exercise price (p) | No. | Exercise price (p) | ||
Mr Waugh | 9,281,957 | 1,670,387 776,091 | 5 11 | 3,417,740 | 1.25 | 3,417,740 | 2.25 |
Mr Milho | 1,923,891 | 556,795 | 5 | 683,548 | 1.25 | 683,548 | 2.25 |
Mr Beck | 2,299,442 | 157,625 157,626 | 40 55 | 992,096 | 1.25 | 992,096 | 2.25 |
Adam Waugh and Paul Beck as directors of the Company are "related parties" as defined under the AIM Rules and accordingly, the grant of New Share Options to them constitutes a related party transaction for the purposes of Rule 13 of the AIM Rules for Companies.
The Directors independent of the grant of options, consider, having consulted with the Company's nominated adviser, SP Angel, that the terms of the New Share Options are fair and reasonable insofar as the Company's shareholders are concerned.
Market Abuse Regulation (MAR) Disclosure
Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.
For further information, please contact:
BlueRock Diamonds plc Adam Waugh, CEO | awaugh@bluerockdiamonds.co.uk |
SP Angel (NOMAD and Broker) Stuart Gledhill Lindsay Mair | +44 (0)20 3470 0470 |
Yellow Jersey (PR and IR) Felicity Winkles Joe Burgess Katie Bairsto | +44 (0) 7769 325254 |
About BlueRock Diamonds plc (AIM: BRD)
BlueRock is a diamond mining company with activities in the Kimberley region of South Africa. BlueRock own a diamond processing plant and the mining right over the Kareevlei Tenements in South Africa.
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: | Adam Waugh | ||||
| 2. | Reason for the notification | |||||
a) | Position/status: | Chief Executive Officer | ||||
b) | Initial notification/Amendment: | Initial notification | ||||
| 3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name: | BlueRock Diamonds plc | ||||
b) | LEI: | 213800LVSJ2RNI3SSN92 | ||||
| 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: | Ordinary shares of 1 pence each GB00B84H1764 | ||||
b) | Nature of the transaction: | Issue of options | ||||
c) | Price(s) and volume(s): |
| ||||
d) | Aggregated information: Aggregated volume: Price: | Single transaction as in 4 c) above
| ||||
e) | Date of the transaction: | 10 August 2017 | ||||
f) | Place of the transaction: | Outside a trading venue | ||||
| 1. | Details of the person discharging managerial responsibilities/person closely associated | |||||
a) | Name: | Johan Milho | ||||
| 2. | Reason for the notification | |||||
a) | Position/status: | Mine manager | ||||
b) | Initial notification/Amendment: | Initial notification | ||||
| 3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name: | BlueRock Diamonds plc | ||||
b) | LEI: | 213800LVSJ2RNI3SSN92 | ||||
| 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: | Ordinary shares of 1 pence each GB00B84H1764 | ||||
b) | Nature of the transaction: | Issue of options | ||||
c) | Price(s) and volume(s): |
| ||||
d) | Aggregated information: Aggregated volume: Price: | Single transaction as in 4 c) above
| ||||
e) | Date of the transaction: | 10 August 2017 | ||||
f) | Place of the transaction: | Outside a trading venue | ||||
| 1. | Details of the person discharging managerial responsibilities/person closely associated | |||||
a) | Name: | Paul Beck | ||||
| 2. | Reason for the notification | |||||
a) | Position/status: | Non-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: | BlueRock Diamonds plc | ||||
b) | LEI: | 213800LVSJ2RNI3SSN92 | ||||
| 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: | Ordinary shares of 1 pence each GB00B84H1764 | ||||
b) | Nature of the transaction: | Issue of options | ||||
c) | Price(s) and volume(s): |
| ||||
d) | Aggregated information: Aggregated volume: Price: | Single transaction as in 4 c) above
| ||||
e) | Date of the transaction: | 10 August 2017 | ||||
f) | Place of the transaction: | Outside a trading venue | ||||
Bluerock Diamonds plc published this content on 10 August 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 15 August 2017 10:31:03 UTC.
Original documenthttp://www.bluerockdiamonds.co.uk/_literature_145694/Issue_of_New_Share_Options
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