Grant of Options and Transfer of CLN

RNS Number : 3964D

BlueRock Diamonds PLC

18 February 2020

 

BlueRock Diamonds PLC / AIM: BRD / Sector: Natural Resources

18 February 2020

BlueRock Diamonds PLC ('BlueRock' or the 'Company')

Grant of Options and Transfer of Convertible Loan Note

BlueRock Diamonds PLC, the AIM listed diamond producer, which owns and operates the Kareevlei Diamond Mine in the Kimberley region of South Africa, announces the grant of certain share options as set out below.

Grant of 2019 Target Options

Following the Company's announcement of earlier today, a total of 130,320 share options ("2019 Target Options") over ordinary shares of 5 pence each in the Company ("Ordinary Shares") have been awarded to Mike Houston, Executive Chairman of the Company, and Gus Simbanegavi, Chief Executive Officer of Kareevlei Mining Pty Ltd and from tomorrow, Chief Operating Officer of the Company.  As announced on 16 May 2019, the 2019 Target Options were to be issued subject to the Company's 2019 production exceeding 12,000 carats.  Accordingly, as the Company produced 14,033 carats in the year, the 2019 Target Options have now been granted and have vested today. 

The 2019 Target Options are exercisable at 85p, being the price of the placing announced earlier today. The 2019 Target Options have a duration of five years.

Grant of 2020 Share Options

In addition, the Company has made the following award of share options today ("2020 Share Options").

	Number	Price
Mike Houston	116,404	85p
David Facey	116,404	85p
Gus Simbanegavi	232,807	85p
Total	465,615

The 2020 Share Options are exercisable at 85p, being the price of the placing announced earlier today. In addition, the 2020 Share Options have a duration of five years and vest in two tranches: 50% on 18 February 2021 and 50% on 18 February 2022.

Name		2019 Target Options Granted	2020 Share Options Granted		Options Previously Granted*	Total Options Held	Percentage Under Option*
Mike Houston		65,160	116,404		97,740	279,304	5.1%
David Facey		-	116,404		65,160	181,564	3.3%
Gus Simbanegavi		65,160	232,807		65,160	363,127	6.6%
Total		130,320		465,615	228,060	823,995	15.0%

* options at 50p per share exercise price

** following admission of the Tranche 1 and Tranche 2 placing shares announced earlier today

The total share options in issue, at 15% of the Company's share capital as enlarged by the recent placing, is in line with the Company's stated limit.

Transfer of Convertible Loan Note

The Company has received notice of, and today approved, a transfer in respect to the sale of part of the Company's existing Convertible Loan Note with a face value of £462,500 from Mr Mark Poole to Mr Tim Leslie, a non-executive director of the Company.  The total Convertible Loan Note outstanding is currently £925,000 and following today's placing has a conversion price of approximately £1.66. 

**ENDS**

For further information, please visit BRD's website www.bluerockdiamonds.co.uk or contact:

BlueRock Diamonds PLC Mike Houston David Facey, FD	[e-mail] [e-mail]
SP Angel (NOMAD and Joint Broker) Stuart Gledhill / Caroline Rowe	Tel: [phone]
Turner Pope Andy Thacker	Tel: [phone]
St Brides Partners Ltd (Financial PR) Isabel de Salis / Susie Geliher / Cosima Akerman	Tel: [phone]

Notes to editors:

BlueRock Diamonds is an AIM-listed diamond producer which operates the Kareevlei Diamond Mine near Kimberley in South Africa which produces diamonds of exceptional quality and ranks in the top ten in the world in terms of average value per carat. The Kareevlei licence area covers 3,000 hectares and hosts five known diamondiferous kimberlite pipes. As at November 2018, it was estimated that the remaining Inferred Mineral Resource from the four kimberlite pipes (KV1, KV2, KV3 and KV5) represents a potential inground number of carats of 367,000.

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:	Mike Houston
2.	Reason for the notification
a)	Position/status:	Executive Chairman
b)	Initial notification/amendment:	Initial
3.	Details of the issuer emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name:	BlueRock Diamonds Plc
b)	LEI:	213800LVSJ2RNI3SSN92
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:  Identification code:	Ordinary shares of £0.05  GB00BKKJK954
b)	Nature of the transaction:	Grant of Options
c)	Price(s) and volume(s):	2019 options Prices(s) Volume(s) 85 pence 65,160 2020 options Prices(s) Volume(s) 85 pence 116,404
d)	Aggregated information:  Aggregated volume:  Price:	Multiple transactions as in 4 c) above
e)	Date of transaction:	18 February 2020
f)	Place of transaction	Outside a trading venue

1.	Details of the person discharging managerial responsibilities/person closely associated
a)	Name:	Gus Simbanegavi
2.	Reason for the notification
a)	Position/status:	Chief Executive Officer of Kareevlei Mining Pty Ltd
b)	Initial notification/amendment:	Initial
3.	Details of the issuer emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name:	BlueRock Diamonds Plc
b)	LEI:	213800LVSJ2RNI3SSN92
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:  Identification code:	Ordinary shares of £0.05 B00BKKJK954
b)	Nature of the transaction:	Grant of Options
c)	Price(s) and volume(s):	2019 options Prices(s) Volume(s) 85 pence 65,160 2020 options Prices(s) Volume(s) 85 pence 232,807
d)	Aggregated information:  Aggregated volume:  Price:	Multiple transactions as in 4 c) above
e)	Date of transaction:	18 February 2020
f)	Place of transaction	Outside a trading venue

1.	Details of the person discharging managerial responsibilities/person closely associated
a)	Name:	David Facey
2.	Reason for the notification
a)	Position/status:	Finance Director
b)	Initial notification/amendment:	Initial
3.	Details of the issuer emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name:	BlueRock Diamonds Plc
b)	LEI:	213800LVSJ2RNI3SSN92
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:  Identification code:	Ordinary shares of £0.05 B00BKKJK954
b)	Nature of the transaction:	Grant of Options
c)	Price(s) and volume(s):	2020 options Prices(s) Volume(s) 85 pence 116,404
d)	Aggregated information:  Aggregated volume:  Price:	Multiple transactions as in 4 c) above
e)	Date of transaction:	18 February 2020
f)	Place of transaction	Outside a trading venue

 

END

 

 

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