Issue of Shares under Share Incentive Plan

RNS Number : 7411Y

Regency Mines PLC

07 December 2017

 

Regency Mines Plc

("Regency Mines" or the "Company")

Issue of Shares under Share Incentive Plan and Directors' Dealings

7 December 2017

Regency Mines Plc, the natural resource investment and development company, announces that on 6  December 2017 the Board of Directors approved the issuance of 2,304,000 ordinary shares in the Company ("Ordinary Shares") under the Company's Share Incentive Plan ("SIP") for the 2017/18 tax year as agreed in the Trustees meeting held on 6 December 2017.

Under the terms of the SIP, once employees have satisfactorily completed their probationary period, they may sign up to the Free Share Agreement.

Free Share Agreement - Free Share Award

Under the Free Share Agreement, employees may be awarded up to £3,600 worth of Ordinary Shares in the Company in any one tax year. Ordinary Shares to the value of £3,600 per existing employee have been awarded in respect of the 2017/18 tax year, representing a total of 2,304,000 Ordinary Shares, with reference to the mid-market closing price of 0.625p as of 5 December 2017.

All shares awarded under the Free Share Agreement will be held by the SIP Trustees and such shares cannot be released to participants until five years after the date of the award, except in specific circumstances.

Directors' Participation

In respect of the 2017/2018 tax year, each Director has been awarded 576,000 Ordinary Shares under the Free Share Agreement. These shares awarded to Directors have been included in the table below, which sets out the total shareholding and interests of the directors in the enlarged share capital of the Company:

Directors	New Ordinary Shares	Ordinary Shares Post Issuance		Total Shares	%of Enlarged Issued Share Capital	Options	Warrants
		Direct	Indirect*
Andrew R M Bell	576,000	2,222,222	12,983,425	15,205,647	2.63%	13,360,000	2,222,222
Edward Sr Bugnosen	576,000	10,000	4,760,623	4,770,623	0.82%	560,000	-
Scott C Kaintz	576,000	-	4,898,706	4,898,706	0.85%	12,420,000	-

*Mr A Bell and Mr S Kaintz are each beneficiaries of 4,877,654 shares held on their behalf by the SIP Trustees whilst Mr E Bugnosen is a beneficiary of 4,760,623 shares held on his behalf by the SIP Trustees. In addition, Mr A Bell holds 4,825,907 shares in the account of Alliance Trust Nominees Limited, 977,429 shares in the name of Beaufort Securities Nominees Limited, and 2,302,435 shares in the account of Rock (Nominees) Limited. Mr S Kaintz holds 21,052 shares in the account of Hargreave Hale Ltd.

Admission to trading on AIM and Total Voting Rights

Application is being made to AIM for 2,304,000 new Ordinary Shares allotted in relation to the SIP for 2017/18 tax year to be admitted to trading on AIM. Admission of the 2,304,000 new Ordinary Shares is expected on or around 14 December 2017.

Following the issue of the 2,304,000 new Ordinary Shares, the issued share capital of the Company consists of 578,795,064 ordinary shares of 0.01p each with voting rights. No Ordinary Shares are held in Treasury.

The above figure of 578,795,064 may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in the Company under the Disclosure and Transparency Rules.

For further information contact:

Andrew Bell 0207 747 9960                                                                   Chairman Regency Mines Plc

Scott Kaintz 0207 747 9960                                                                    Executive Director Regency Mines Plc

Roland Cornish/Rosalind Hill Abrahams 0207 628 3396             NOMAD Beaumont Cornish Limited

Jason Robertson 0207 374 2212                                                            Broker First Equity Ltd.

The following disclosure is made in accordance with Article 19 of the EU Market Abuse Regulation 596/2014.

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	1. Andrew R M Bell 2. Scott C Kaintz 3. Edward Sr Bugnosen 4. Rasa Vaitkute
2	Reason for the notification
a)	Position/status	1. Executive Chairman 2. Executive Director 3. Non-Executive Director 4. Corporate Affairs Manager
b)	Initial notification /Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Regency Mines Plc
b)	LEI	2138009ECXQQ3EGKVY57
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	Ordinary Shares of 0.01p each
	Identification code	ISIN: GB00BYVT4J08
b)	Nature of the transaction	Issue of Shares under Share Incentive Plan
c)	Price(s) and volume(s)		Name Price(s) Volume(s) Andrew R M Bell 0.625p 576,000 Scott C Kaintz 0.625p 576,000 Edward Sr Bugnosen 0.625p 576,000 Rasa Vaitkute 0.625p 576,000
d)	Aggregated information
	- Aggregated volume	2,304,000
	- Price	0.625 pence
e)	Date of the transaction	6 December 2017
f)	Place of the transaction	Outside a trading venue

 

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