Issue of Options

ISSUE OF OPTIONS

 

The Company announces that it has today issued a total of 7,300,000 options to subscribe for new ordinary shares in the Company under the Employee Share Scheme to various directors and employees of the Company (the “Employee Options”). The Employee Options are exercisable at 5 pence and vest in two equal tranches of 50% after 6 months and 12 months respectively. The Employee Options are exercisable from when they vest until the three year anniversary of their award. Details of director and other PDMR option awards are included in the disclosure notices at the end of this announcement.

In addition, the Company has also today issued a total of 105,560 options to subscribe for new ordinary shares in the Company pursuant to the acquisition of Moroccan Minerals Limited (the “MML Options”), as announced on 25 May 2016. The MML Options are exercisable at 3.48 pence until 25 May 2018.

 

For further information please contact:

Tethyan Resources plc

Peter Mullens (CEO)                                                                      pjm@tethyan-resources.com

finnCap Limited – Nominated adviser

Christopher Raggett / Scott Mathieson                                  +44 (0)20 7220 0500

The information communicated in this announcement is inside information for the purposes of Article 7 of Regulation 596/2014.

 

About Tethyan Resources

Tethyan Resources PLC is an AIM listed junior exploration company exploring for copper and gold within the Tethyan mineral belt. Tethyan has an experienced board and technical team headed up by Chris Goss previously leader in project finance for emerging markets for the IFC, International Finance Corporation. The company is well funded in a difficult market. Currently they hold several licenses in Serbia and are looking for other Copper Gold projects in Eastern Europe, specifically Serbia and Bulgaria.

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

Christopher Goss

2.               

Reason for the Notification

a)

Position/status

Non-Exec Chairman, Tethyan Resources plc

b)

Initial notification/Amendment

Initial notification

3.    

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

a)

Name

Tethyan Resources plc

b)

LEI

n/a

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 to subscribe for new ordinary shares of 0.1p each

Identification code

TETH  GB00BYVFRB16

b)

Nature of the transaction

Grant of options

c)

Price(s) and volume(s)

Price(s)

Volume(s)

5 pence

800,000

d)

Aggregated information:

·      Aggregated volume

·      Price

n/a – single transaction

e)

Date of the transaction

9 August 2016

f)

Place of the transaction

Outside of a trading venue

 

5.               

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Peter Mullens

6.               

Reason for the Notification

a)

Position/status

CEO, Tethyan Resources plc

b)

Initial notification/Amendment

Initial notification

7.    

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

a)

Name

Tethyan Resources plc

b)

LEI

n/a

8.    

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 to subscribe for new ordinary shares of 0.1p each

Identification code

TETH  GB00BYVFRB16

b)

Nature of the transaction

Grant of options

c)

Price(s) and volume(s)

Price(s)

Volume(s)

5 pence

1,000,000

d)

Aggregated information:

·      Aggregated volume

·      Price

n/a – single transaction

e)

Date of the transaction

9 August 2016

f)

Place of the transaction

Outside of a trading venue

 

 

9.               

 

 

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Tim Coughlin

10.               

Reason for the Notification

a)

Position/status

Non-Exec Director, Tethyan Resources plc

b)

Initial notification/Amendment

Initial notification

11. 

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

a)

Name

Tethyan Resources plc

b)

LEI

n/a

12. 

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 to subscribe for new ordinary shares of 0.1p each

Identification code

TETH  GB00BYVFRB16

b)

Nature of the transaction

Grant of options

c)

Price(s) and volume(s)

Price(s)

Volume(s)

5 pence

800,000

d)

Aggregated information:

·      Aggregated volume

·      Price

n/a – single transaction

e)

Date of the transaction

9 August 2016

f)

Place of the transaction

Outside of a trading venue

 

 

13.               

 

 

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Gokhan Kantarcigil

14.               

Reason for the Notification

a)

Position/status

Non-Exec Director, Tethyan Resources plc

b)

Initial notification/Amendment

Initial notification

15. 

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

a)

Name

Tethyan Resources plc

b)

LEI

n/a

16. 

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 to subscribe for new ordinary shares of 0.1p each

Identification code

TETH  GB00BYVFRB16

b)

Nature of the transaction

Grant of options

c)

Price(s) and volume(s)

Price(s)

Volume(s)

5 pence

800,000

d)

Aggregated information:

·      Aggregated volume

·      Price

n/a – single transaction

e)

Date of the transaction

9 August 2016

f)

Place of the transaction

Outside of a trading venue

 

 

17.               

 

 

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Didier Fohlen

18.               

Reason for the Notification

a)

Position/status

Non-Exec Director, Tethyan Resources plc

b)

Initial notification/Amendment

Initial notification

19. 

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

a)

Name

Tethyan Resources plc

b)

LEI

n/a

20. 

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 to subscribe for new ordinary shares of 0.1p each

Identification code

TETH  GB00BYVFRB16

b)

Nature of the transaction

Grant of options

c)

Price(s) and volume(s)

Price(s)

Volume(s)

5 pence

1,000,000

d)

Aggregated information:

·      Aggregated volume

·      Price

n/a – single transaction

e)

Date of the transaction

9 August 2016

f)

Place of the transaction

Outside of a trading venue

 

 

21.               

 

 

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Fabian Baker

22.               

Reason for the Notification

a)

Position/status

COO, Tethyan Resources plc

b)

Initial notification/Amendment

Initial notification

23. 

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

a)

Name

Tethyan Resources plc

b)

LEI

n/a

24. 

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 to subscribe for new ordinary shares of 0.1p each

Identification code

TETH  GB00BYVFRB16

b)

Nature of the transaction

Grant of options

c)

Price(s) and volume(s)

Price(s)

Volume(s)

5 pence

1,200,000

d)

Aggregated information:

·      Aggregated volume

·      Price

n/a – single transaction

e)

Date of the transaction

9 August 2016

f)

Place of the transaction

Outside of a trading venue

 

 

25.               

 

 

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Martyn Keytes

26.               

Reason for the Notification

a)

Position/status

CFO, Tethyan Resources plc

b)

Initial notification/Amendment

Initial notification

27. 

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

a)

Name

Tethyan Resources plc

b)

LEI

n/a

28. 

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 to subscribe for new ordinary shares of 0.1p each

Identification code

TETH  GB00BYVFRB16

b)

Nature of the transaction

Grant of options

c)

Price(s) and volume(s)

Price(s)

Volume(s)

5 pence

500,000

d)

Aggregated information:

·      Aggregated volume

·      Price

n/a – single transaction

e)

Date of the transaction

9 August 2016

f)

Place of the transaction

Outside of a trading venue