Exercise of Warrants by Director
ECR MINERALS plc
(“ECR Minerals”, “ECR” or the “Company”)
EXERCISE OF WARRANTS BY DIRECTOR
EXERCISE OF SHARE OPTIONS
ISSUE OF SHARE OPTIONS
ECR Minerals plc (LON: ECR), the gold exploration and development company focussed on , is pleased to announce the following.
Exercise of warrants (“Warrant Shares”)
ECR has received notice from , director & CEO of the Company, to exercise warrants over 1,428,571 new ordinary shares at in the Company. Following such exercise will hold 4,406,413 ordinary shares representing approximately 0.68% of the Company’s enlarged issued share capital.
Notice from another party to exercise warrants over a further 2,767,820 new ordinary shares at an exercise price of 1 penny in the Company has also been received.
Funds totalling £43,749.62 have been received by the Company in relation to these Warrant Shares.
Exercise of options (“Option Shares”)
In addition, notices to exercise options over 5,000,000 shares (“Option Shares”) at has been received. Funds of £56,250 have been received by the Company in relation to these Option Shares.
Issue of options
Further to its announcements dated and , the Company has allocated an aggregate of 13,200,000 share options (“Options”) from the management and consultant option pool to certain key management and staff, including 10,000,000 options which have been issued to , director & CEO of the Company as part of his normal remuneration and in recognition of his contribution to the Company. This completes the allocation of options from the management and consultant option pool announced in . The Options have been issued with an exercise price of per share.
Admission of shares
Application has been made for the Option Shares and the Warrant Shares to be admitted to trading on AIM (“Admission”). Admission is expected to occur on or around . Upon Admission, ECR’s issued ordinary share capital will comprise 650,150,304 ordinary shares of 0.001p. This number will represent the total voting rights in the Company, and following Admission may be used by shareholders as the denominator for the calculation by which they can determine if they are required to notify their interest in, or a change to their interest in, the Company under the Financial Conduct Authority’s Disclosure and Transparency Rules. The Option Shares and the Warrant Shares will rank pari passu in all respects with the ordinary shares of the Company currently traded on AIM.
MARKET ABUSE REGULATIONS (EU) No. 596/2014
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 (MAR). Upon the publication of this announcement via Regulatory Information Service (RIS), this inside information is now considered to be in the public domain.
FOR FURTHER INFORMATION, PLEASE CONTACT:
ABOUT ECR MINERALS PLC
ECR is a mineral exploration and development company. ECR’s wholly owned Australian subsidiary Mercator Gold Australia Pty Ltd has 100% ownership of the Bailieston and Creswick gold projects in central .
Following the sale of the Avoca, Moormbool and Timor gold projects in to Fosterville South Exploration Ltd (TSX-V: FSX), ECR has the right to receive up to in payments subject to future resource estimation or production at those projects.
ECR has earned a 25% interest in the Danglay gold project, an advanced exploration project located in a prolific gold and copper mining district in the north of , and holds a royalty on the SLM gold project in , .
NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM
ECR Minerals plc
Source: ECR Minerals plc
ECR Minerals plc
Tel: +44 (0)20 7929 1010
, Non-Executive Chairman
, Director & CEO
WH Ireland Ltd
Tel: +44 (0)161 832 2174
SI Capital Ltd
Tel: +44 (0)1483 413500
Details of the person discharging managerial responsibilities/person closely associated
Reason for the notification
Chief Executive Officer
Initial notification/ Amendment
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
ECR Minerals PLC
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
Description of the financial instrument, type of instrument
Nature of the transaction
Price(s) and volume(s)
(a) GBP£0.01125 (a) 1,428,571
(a) GBP£0.01125 (b) 10,000,000
- Aggregated volume
Date of the transaction
Place of the transaction
, off market
Quick facts: ECR Minerals PLC
Market Cap: -
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