RNS Number : 7318I

Empire Metals Limited

20 April 2022

Empire Metals Limited / LON : EEE / Sector: Natural Resources

20 April 2022

Empire Metals Limited ('Empire' or the 'Company')

Grant of Options and Director Shareholding

Empire Metals Limited, announces that the Remuneration Committee has agreed to issue options over a total of 7,500,000 ordinary shares of no par value in the capital of the Company ('Share Options') to the Managing Director of the Company. The Share Options will vest immediately and will expire on 20 April 2026. The exercise price of the options will be as follows:

            Exercise price (GBP)               0.025                  0 .035                  0.05 
            Number of options 
             granted                           2,500,000              2 ,500,000              2,500,000 
                                   ---------------------  ----------------------  --------------------- 

The Share Options represent in aggregate 2.2% of the existing issued ordinary share capital of the Company and have been issued to the Managing Director of the Company in line with the Company's ongoing incentive plans. Following the grant of the Share Options, in aggregate there will be 27,500,000 ordinary shares of no par value of the Company under option to directors of the Company, representing 8.03% of the existing issued ordinary share capital of the Company.

Market Abuse Regulation (MAR) Disclosure

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with the Company's obligations under Article 17 of MAR.


 1.   Details of the person discharging managerial responsibilities/person 
       closely associated 
 a)   Name:                                      Shaun Bunn 
     -----------------------------------------  ------------------------------------------ 
 2.   Reason for the notification 
 a)   Position/status:                           Managing Director 
     -----------------------------------------  ------------------------------------------ 
 b)   Initial notification/Amendment:            Initial notification 
     -----------------------------------------  ------------------------------------------ 
 3.   Details of the issuer, emission allowance market participant, 
       auction platform, auctioneer or auction monitor 
 a)   Name:                                      Empire Metals Limited 
     -----------------------------------------  ------------------------------------------ 
 b)   LEI:                                       2138002IOR7OCZZPB279 
     -----------------------------------------  ------------------------------------------ 
 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,   Share options over ordinary 
       type of instrument:                        shares of no par value 
       Identification code:                       VGG9688A1003 
     -----------------------------------------  ------------------------------------------ 
 b)   Nature of the transaction:                 Grant of options over 
                                                  ordinary shares 
     -----------------------------------------  ------------------------------------------ 
 c)   Price(s) and volume(s):                           Price(s)     Volume(s) 
                                                   1.    2.5 pence     2,500,000 
                                                   2.    3.5 pence     2,500,000 
                                                    3.    5.0 pence    2,500,000 
                                                        -----------  ----------- 
     -----------------------------------------  ------------------------------------------ 
 d)   Aggregated information:                    Single transactions 
       Aggregated volume:                         as in 4 c) above  Price(s)     Volume(s) 
       Price:                                       2.5 pence    2,500,000 
                                                   -----------  ---------- 
       Aggregated volume: 
       Price:                                       Price(s)     Volume(s) 
                                                    3.5 pence    2,500,000 
       Aggregated volume:                          -----------  ---------- 
                                                    Price(s)     Volume(s) 
                                                    5.0 pence    2,500,000 
                                                   -----------  ---------- 
     -----------------------------------------  ------------------------------------------ 
 e)   Date of the transaction:                   2022-04-20 
                                                  08:00 hrs UTC 
     -----------------------------------------  ------------------------------------------ 
 f)   Place of the transaction:                  Outside a trading venue 
     -----------------------------------------  ------------------------------------------ 


For further information please visit www.empiremetals.co.uk or contact:

 Empire Metals Ltd                   Tel: 020 7907 9327 
  Shaun Bunn / Greg Kuenzel 
 S. P. Angel Corporate Finance       Tel: 020 3470 0470 
  LLP (Nomad & Broker) 
  Ewan Leggat / Adam Cowl 
 Shard Capital Partners LLP (Joint   Tel: 020 7186 9950 
  Damon Heath 
 St Brides Partners Ltd (Financial   Tel: 020 7236 1177 
  Susie Geliher / Ana Ribeiro 
  / Selina Lovell 

About Empire Metals Limited

Empire Metals is an AIM-listed (LON: EEE) exploration and resource development company with a project portfolio comprising gold interests in Australia and Austria.

The Company's strategy is to develop a pipeline of projects at different stages in the development curve. Its initial focus has been on the high-grade Eclipse and Gindalbie Gold Projects in Western Australia, with the goal to expand through the addition of further projects Australia-wide to develop a viable and compelling portfolio of precious and base metal assets.

Empire also holds a portfolio of three precious metals projects located an historically high-grade gold production region comprising the Rotgulden, Schonberg and Walchen prospects in central-southern Austria.

The Board continues to evaluate opportunities through which to realise the value of its wider portfolio and reviews further assets which meet the Company's investment criteria.

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(END) Dow Jones Newswires

April 20, 2022 04:00 ET (08:00 GMT)

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