TIDMPFP

RNS Number : 4984E

Pathfinder Minerals Plc

04 July 2019

Correction: the following announcement replaces the announcement issued earlier today with RNS Number: 4760E. It amends the mining licence code which was incorrectly stated as 6323C. All other details remain the same.

4 July 2019

Pathfinder Minerals plc

("Pathfinder" or the "Company")

Grant of Share Options

Pathfinder announces that the Company has granted a total of 7,500,000 options over the Company's ordinary shares of 0.1p each ("Ordinary Shares") to the Chief Executive Officer, John Taylor (the "Director Options"). The Director Options will vest, at the discretion of an independent Committee of the Board, and subject to resolution of the current dispute between the Company and other parties and the successful restoration to the Company of an interest in Mining Concession 4623C ("the Licence"). Further details of the Director Options are set out below:

 
 Director       No. of options   Exercise Price      Expiry   Total No. of 
                       Granted                                Options Held 
=============  ===============  ===============  ==========  ============= 
 
 John Taylor         7,500,000            2.75p   3/07/2021      7,500,000 
=============  ===============  ===============  ==========  =============

The issue of the Director Options results in a holding by the Board of the Company of, in aggregate, 19,500,000 share options in the Company, representing approximately 6 per cent. of the Company's currently issued share capital.

Related Party Transaction

The grant of the Director Options is considered to be a related party transaction pursuant to Rule 13 of the AIM Rules for Companies. The directors of the Company, other than John Taylor, consider, having consulted with the Company's Nominated Adviser, Strand Hanson Limited, that the terms of the grant of the Director Options are fair and reasonable in so far as the Company's shareholders are concerned.

Enquiries:

Pathfinder Minerals Plc

John Taylor, Chief Executive Officer

Tel. +44 (0)20 3440 7775

Strand Hanson Limited (Nominated & Financial Adviser and Broker)

James Spinney / Ritchie Balmer / Jack Botros

Tel. +44 (0)20 7409 3494

Vigo Communications (Public Relations)

Ben Simons or Simon Woods

Tel. +44 (0)20 7390 0234

Email. pathfinderminerals@vigocomms.com

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014.

PDMR Notification

 
 1.   Details of the person discharging managerial responsibilities 
       / person closely associated 
 a)   Name                              John Taylor 
     -------------------------------  -------------------------------------- 
 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                             Pathfinder Minerals PLC 
     -------------------------------  -------------------------------------- 
 b)   LEI                              2138009YG6AG3K86TN77 
     -------------------------------  -------------------------------------- 
 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     Issue of options over ordinary shares 
       instrument, type of              of 0.1p each 
       instrument 
     -------------------------------  -------------------------------------- 
      Identification code              GB00BYY0JQ23 
     -------------------------------  -------------------------------------- 
 b)   Nature of the Transaction        Issue of options 
     -------------------------------  -------------------------------------- 
 c)   Price(s) and volume(s)            Price(s)      Volume(s) 
                                         2.75 pence    7,500,000 
                                                      ---------- 
     -------------------------------  -------------------------------------- 
 d)   Aggregated information           N/A 
       Aggregated volume price 
     -------------------------------  -------------------------------------- 
 e)   Date of the transaction          4 July 2019 
     -------------------------------  -------------------------------------- 
 f)   Place of the transaction         AIM (LSE) 
     -------------------------------  --------------------------------------

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

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July 04, 2019 04:56 ET (08:56 GMT)

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