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Griffin Mining Ld (GFM)

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Tuesday 12 January, 2021

Griffin Mining Ld

Excercise of Options

RNS Number : 4335L
Griffin Mining Ld
12 January 2021


8th Floor, Royal Trust House, 54-56 Jermyn Street, London. SW1Y 6LX, United Kingdom

Telephone: + 44 (0)20 7629 7772  Facsimile:  + 44 (0)20 7629 7773

E mail: [email protected]


Exercise of Options


12th January 2021 .

Griffin Mining Ltd ("the Company") announces that the Company has been notified of and subsequently authorised on 7th January 2021 the exercise of options ("the Options") over 1,291,666 new ordinary shares in the Company granted to the directors and management in February 2015 at an exercise price of 30p per share.

Following the exercise of the Options there will be 174,117,894 Ordinary Shares in the Company in issue. There are 540,000 shares held in treasury. 

The Options exercised include that by Persons Discharging Management Responsibility, as follows:


Number of options


Number of



Number of options retained exercisable at 30p per share

Number of shares held after exercise

Adam Usdan (Director)





Following this exercise Adam Usdan, through both direct and indirect interests, will have a beneficial interest in 34,644,425 Ordinary Shares in Griffin, representing 19.9% of the Company's issued share capital.

Application has been made to the London Stock Exchange for 1,291,666 new ordinary shares to be admitted to trading on AIM. These new ordinary shares will rank pari passu in all respects with the existing ordinary shares. It is expected that admission will become effective on or around 15 January 2021.



Template for notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them



Details of the person discharging managerial responsibilities/person closely associated



Adam Usdan


Reason for the notification





Initial notification/ Amendment

Initial notification


Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor



Griffin Mining Limited




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


Description of the financial instrument, type of instrument Identification code

Ordinary Shares


Nature of the transaction

Exercise of options


Price(s) and volume(s)

1,166,666 Ordinary Shares at 30 pence per share equating to £350,000


Aggregated information
- Aggregated volume
- Price

1,166,666 Ordinary Shares in Griffin Mining Limited at 30p each.


Date of the transaction

7 January 2021


Place of the transaction

London Stock Exchange Alternative Investment Market

(1)  Commission Delegated Regulation (EU) 2016/522 of 17 December 2015 supplementing Regulation (EU) No 596/2014 of the European Parliament and of the Council as regards an exemption for certain third countries public bodies and central banks, the indicators of market manipulation, the disclosure thresholds, the competent authority for notifications of delays, the permission for trading during closed periods and types of notifiable managers' transactions (see page 1 of this Official Journal).


Further information


Griffin Mining Limited

Telephone: +44(0)20 7629 7772

Mladen Ninkov - Chairman

Roger Goodwin - Finance Director


Panmure Gordon (UK) Limited

Telephone: +44 (0)20 7886 2500

John Prior



Telephone: +44(0)20 3207 7800

Matthew Armitt

Jennifer Wyllie

Deltir Elezi




Griffin Mining Limited's shares are quoted on the Alternative Investment Market (AIM) of the London Stock Exchange (symbol GFM).

The Company's news releases are available on the Company's web site:

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