TIDMCOBR

RNS Number : 0923T

Cobra Resources PLC

15 July 2020

Cobra Resources plc

("Cobra" or the "Company")

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF EU REGULATION 596/2014. UPON THE PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY NEWS SERVICE, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION.

For immediate release

15 July 2020

Cobra Resources plc

(Incorporated in England and Wales with company number 11170056)

Directors' Grant of Options

Cobra Resources plc (the "Company") today announces the grant (the "Grant") of share options (the "Options") to the directors of the Company which are exercisable over a total of 15,000,000 ordinary shares of nominal value 1 pence each (the "Ordinary Shares") in the issued share capital of the Company.

The Options are exercisable at between 2 and 4 pence per Ordinary Share and subject to certain vesting conditions including;

   1)   The Company achieving mineral resources of 1 million ounces; or 
   2)   A market capitalisation of GBP10 million. 

Persons discharging managerial responsibility participating in the Grant are tabled below:

 
 Name            Title           No. of Share Options   Date of 
                                  Granted                Grant 
 David Clarke    Non-Executive   5,000,000              14/07/2020 
                  Director 
                --------------  ---------------------  ----------- 
 Daniel Maling   Non-Executive   5,000,000              14/07/2020 
                  Director 
                --------------  ---------------------  ----------- 
 Greg Hancock    Non-Executive   5,000,000              14/07/2020 
                  Chairman 
                --------------  ---------------------  ----------- 
 

Following this announcement, the total number of current director options granted and outstanding is in respect of 15,672,336 Ordinary Shares representing 8 per cent. of the current issued share capital of the Company.

The information set out below is provided in accordance with the requirements of Regulation 19(3) of the EU Market Abuse Regulation No 596/2014:

 
 1.   Details of PDMR / person closely associated 
 a)   Name                                              (i) David Clarke 
                                                         (ii) Daniel Maling 
                                                         (iii) Greg Hancock 
     ------------------------------------------------  ------------------------------------------- 
 2.   Reason for the notification 
     --------------------------------------------------------------------------------------------- 
 a)   Position / status                                 (i) Non-Executive Director 
                                                         (ii) Non-Executive Director 
                                                         (iii) Non-Executive Chairman 
     ------------------------------------------------  ------------------------------------------- 
 b)   Initial notification /amendment                   Initial notification 
     ------------------------------------------------  ------------------------------------------- 
 3.   Details of the issuer 
     --------------------------------------------------------------------------------------------- 
 a)   Name                                              Cobra Resources plc 
     ------------------------------------------------  ------------------------------------------- 
 b)   LEI                                               213800XTW5PLLK72TQ57 
     ------------------------------------------------  ------------------------------------------- 
 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           Ordinary Shares of nominal value 1p 
                                                         each 
     ------------------------------------------------  ------------------------------------------- 
 b)   Identification code of the Financial Instrument   ISIN for Cobra Resources plc: GB00BGJW5255 
     ------------------------------------------------  ------------------------------------------- 
 c)   Nature of the transaction                         Grant of options over Ordinary Shares 
                                                         in Cobra Resources plc under the Share 
                                                         Option Plan with Non-Employee Sub-Plan 
                                                         and US Sub-Plan 
     ------------------------------------------------  ------------------------------------------- 
 d)   Price(s) and volume(s)                             Price                   Volume 
                                                             i.David Clarke 
                                                              a) GBP0.03          3,000,000 
                                                              b) GBP0.04           2,000,000 
                                                             ii. Daniel Maling 
                                                              a) GBP0.02          2,000,000 
                                                              b) GBP0.04           3,000,000 
                                                             iii. Greg Hancock 
                                                              a) GBP0.03          3,000,000 
                                                              b) GBP0.04           2,000,000 
     ------------------------------------------------  ------------------------------------------- 
 e)   Aggregated information                            N/A 
       Aggregated volume                                   2,000,000 
                                                          6,000,000 
       Price                                              7,000,000 
                                                             GBP0.02 
                                                             GBP0.03 
                                                             GBP0.04 
     ------------------------------------------------  ------------------------------------------- 
 f)   Date of the transaction                           14 July 2020 
     ------------------------------------------------  ------------------------------------------- 
 g)   Place of the transaction                          XLON 
     ------------------------------------------------  ------------------------------------------- 
 

The person who arranged for the release of this announcement on behalf of the Company was Dan Mailing, Non-Executive Director of the Company.

End

Enquiries:

 
                             Craig Moulton       +61 (0) 8 9316 4938 
Cobra Resources plc           Daniel Maling       +44 (0) 758 003 2520 
SI Capital Limited           Nick Emerson 
 (Joint Broker)               Sam Lomanto        +44 (0) 14 8341 3500 
                             ---------------  ------------------------ 
Peterhouse Capital Limited   Duncan Vasey 
 (Joint Broker)               Lucy Williams      +44 (0) 20 7469 0932 
                             ---------------  ------------------------ 
 

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 15, 2020 06:09 ET (10:09 GMT)

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