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Oriole Resources PLC (ORR)

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Tuesday 15 March, 2022

Oriole Resources PLC

Issue of Share Options

RNS Number : 7427E
Oriole Resources PLC
15 March 2022
 

Oriole Resources PLC 

('Oriole Resources' or 'the Company' or 'the Group')

 

Issue of Share Options

 

Oriole Resources, the AIM-quoted exploration company operating in Africa and Europe, announces that the Company's remuneration committee, has granted options to the Company's Executive Director Exploration and Business Development, Claire Bay, and to Abdoul Mbodji, the Company's Exploration Manager for Cameroon, in recognition of the successful exploration programmes in Cameroon.  

 

Further Details  

 

Options over 6,700,000 Ordinary Shares in the Company ('the Options') have been granted with an  exercise price of 0.32 pence, equal to the 14-day Volume Weighted Average Share Price as at close on 14 March 2022. The Options are not subject to performance conditions, will vest over a three-year period and will expire after 10 years. In aggregate this award of Options is equivalent to 0.34% of the current issued share capital of the Company.

 

Following the awards, the Company has 88,292,912 options and 208,385,020 warrants in issue, representing 4.4% and 10.5% of the issued Ordinary Share Capital respectively.

 

Following the award of these options, the interest in the Ordinary Share Capital of the Company held by Claire Bay is as follows:

 

 

New options issued

Total unexercised options held following issue

Shares held

Claire Bay

3,200,000

10,030,000

765,392

 

Options were also issued to Abdoul Mbodji, the Company's Exploration Manager for Cameroon.

 

Further details on the grant are included in the notification below, made in accordance with the requirements of Article 5(1)(b) of the Market Abuse Regulation (EU) No 596/2014 which is part of UK law by virtue of the European Union (Withdrawal) Act 2018. 

   

 

** ENDS **

 

For further information please visit   www.orioleresources.com ,   @OrioleResources  on Twitter, or contact:  

Oriole Resources PLC

Bob Smeeton / Tim Livesey / Claire Bay

 

Tel: +44 (0)20 7830 9650

BlytheRay (IR/PR contact)

Tim Blythe / Megan Ray / Rachael Brooks

 

Tel: +44 (0)20 7138 3204

Grant Thornton UK LLP

Samantha Harrison / George Grainger / Ciara Donnelly

 

Tel: +44 (0)20 7383 5100

Shard Capital Partners LLP

Damon Heath / Erik Woolgar / Isabella Pierre

 

Tel: +44 (0)20 186 9900

 

Notes to Editors:

 

Oriole Resources PLC is an AIM-listed exploration company, operating West Africa. It is focused on early-stage exploration in Cameroon (Bibemi and Wapouzé projects) and the more advanced Senala gold project in Senegal, where IAMGOLD has the option to spend US$8 million to earn a 70% interest. Year two commitments have been met at all three projects. The Company has several interests and royalties in companies operating throughout Africa and Turkey that could deliver future cash flow, and it continues to assess new opportunities in both regions.

 

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

 

 

 

 Claire Bay

2

 

Reason for the notification

 

a)

 

Position/status

 

 

Executive Director Exploration and Business Development

b)

 

Initial notification /Amendment

 

 

Initial notification

3

 

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

 

a)

 

Name

 

 

Oriole Resources PLC

b)

 

LEI

 

 

213800X32GJR5AGAR511

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

Options over ordinary shares of 0.1 pence each in the capital of the Company

 

 

 

 

 

Identification code

Ordinary share ISIN: GB00B0T29327

 

 

b)

 

Nature of the transaction

 

 

Grant of options over ordinary shares in the capital of the Company under the Company's EMI option scheme with an exercise price of 0.32p each

c)

 

Price(s) and volume(s)

 

 

 

 

 

 

Price(s)

Volume(s)

 

 

 

0

3,200,000

 

 

 

 

 

 

d)

 

Aggregated information

 

 

 

- Aggregated volume

n/a

 

 

- Price

 

 

 

e)

 

Date of the transaction

 

 

14 March 2022

f)

 

Place of the transaction

 

 

Outside a trading venue

 

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