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DJ MetalNRG Plc Grant of Director Options

 
TIDMMNRG 
 
MetalNRG plc 
 
                        ("Metal NRG" or the "Company") 
 
                           Grant of Director Options 
 
MetalNRG plc (ISDX:MNRG) the natural resource investing company quoted on 
London's  ISDX stock trading platform is pleased to confirm that the director 
share options (the "Options") originally included in the Company's circular 
dated 11 February 2016 and for which shareholder approval was sought and 
received, have now been granted to the three directors of the Company. 
 
In total 10m Options have been allocated as follows: 
 
Director                    Options allocated 
 
Christopher                 3,000,000 
Latilla-Campbell 
 
Paul Johnson                4,500,000 
 
Christian Schaffalitzky     2,500,000 
 
The Options vest immediately, are valid for 3 years from today's date and have 
an exercise price of 0.50p. 
 
Based on today's issued share capital the Options, if exercised in full, would 
equate to approximately 12.93 per cent of the then enlarged share capital. 
 
The pricing of the Options was set in February 2016 at 0.50p per share.  This 
represented a discount of 60% to the ISDX platform share price on 11 February 
2016, being the date of issue of the circular to shareholders.  However the 
Options were priced at a 90% premium to the 0.2628p at which the Metal Tiger 
plc investment (19,027,268 shares issued to Metal Tiger plc 11.3.16) was 
agreed, which itself was set to match the net asset value per share at the date 
the transaction was agreed in February 2016. 
 
The option agreements have an additional bonus option element in order to 
encourage early option conversion and this outlined below. 
 
In the event that all or part of such Options are exercised before the 1st 
anniversary from the date of grant, then the holder shall receive, upon 
exercise of each Option, one new ordinary share in addition to one new bonus 
option with an exercise price of 0.75 pence each, expiring on the same date as 
the original Option; or 
 
In the event that all or part of such Options are exercised after the 1st 
anniversary but before the 2nd anniversary from the date of grant, the holder 
shall receive, upon exercise, one new ordinary share in addition to one-half of 
a new bonus option with an exercise price of 0.75 pence each, expiring on the 
same date as the original Option. 
 
The Directors of the Company take responsibility for the content of this 
announcement. 
 
Contact: 
 
MetalNRG plc                         +44(0) 1604 845 551 
Christopher Latilla-Campbell 
 
Cairn Financial Advisers LLP         +44(0) 20 7213 0880 
James Caithie / Liam Murray 
 
 
 
END 
 

(END) Dow Jones Newswires

November 08, 2016 02:00 ET (07:00 GMT)