Beowulf Mining : Award of Options

RNS Number : 0647N Beowulf Mining PLC 14 January 2019

14 January 2019

Beowulf Mining Plc

("Beowulf" or the "Company")

Award of Options

Beowulf (AIM: BEM; Spotlight: BEO), the Nordic focused mineral exploration and development company, announces that today options have been granted over a total of 8,000,000 ordinary shares of 1 pence each in the capital of the Company ("Share Options"), representing approximately 1.41% of the issued share capital of the Company, to certain directors and a senior manager of the Company, as outlined below:

Position	Number of Options Granted	Total number of Options held
Kurt Budge	Chief Executive Officer	3,500,000	13,000,000
Christopher Davies	Non-Executive Director	2,500,000	5,000,000
Rasmus Blomqvist	Exploration Manager	2,000,000	4,000,000

In addition to the above, 1,250,000 Share Options have been granted to certain other employees of the Company.

This award of the Share Options recognises the contribution made by the directors and employees to the continued advancement of the Company. Options were last awarded to Kurt Budge in July 2015, and to Christopher Davies and Rasmus Blomqvist in January 2017.

The Share Options are exercisable at a price of 7.35 pence per share, being a 30% premium to the closing mid-price of 5.65 pence per share on 11 January 2019. The Share Options fully vest one year from the date of grant or fully vest immediately if the individual leaves the Company. The Share Options are valid for five years from the date of grant.

Following the grant of Share Options, there will be 23,250,000 ordinary shares of 1 pence each of the Company under option to directors and employees of the Company, representing 4.10% of the existing issued ordinary share capital of the Company.

Kurt Budge and Christopher Davies are directors of Beowulf and Rasmus Blomqvist is a director of a subsidiary of Beowulf, Oy Fennoscandian Resources AB, and are therefore regarded as related parties as defined by the AIM Rules for Companies (the " AIM Rules"). The grant of Share Options to each of them is classified as a related party transaction for the purposes of Rule 13 of the AIM Rules. Mr Göran Färm, being the independent director for the purposes of Rule 13, considers, having consulted with the Company's Nominated Adviser, SP Angel Corporate Finance LLP, that the terms of the related party transaction are fair and reasonable insofar as the shareholders of the Company are concerned.

Enquiries:

Beowulf Mining plc

Kurt Budge, Chief Executive Officer	Tel: [phone]
SP Angel
(Nominated Adviser & Broker)
Ewan Leggat / Soltan Tagiev	Tel: [phone]
Blytheweigh
Tim Blythe / Megan Ray	Tel: [phone]
Market Abuse Regulation (MAR) Disclosure

Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.

The notifications below, made in accordance with the requirements of the EU Market Abuse Regulation, provide further detail on the director's share dealing.

NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM

a)	Name	Kurt Budge
2.	Reason for the notification
a)	Position/status	PDMR - Chief Executive Officer
b)	Initial notification /Amendment	Initial Notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Beowulf Mining plc
b)	LEI	213800MV3XGAOASPT433
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	Share options over ordinary shares of 1p each GB0033163287
b)	Nature of the transaction	Award of share options over ordinary shares
c)	Price(s) and volume(s)	Price(s)	Volume(s)
		7.35 pence	3,500,000
d)	Aggregated information - Aggregated volume - Price	Not applicable
e)	Date of the transaction	14 January 2019
f)	Place of the transaction	Outside a trading venue

1.

Details of the person discharging managerial responsibilities / person closely associated

a)

2.

a)

b)

Name	Christopher Davies
Reason for the notification
Position/status	PDMR - Non-Executive Director
Initial notification /Amendment	Initial Notification

3.

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

a)Name

Beowulf Mining plc

b)LEI

213800MV3XGAOASPT433

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

- Aggregated volume - Price
e)	Date of the transaction	14 January, 2019
f)	Place of the transaction	Outside a trading venue

1.	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Rasmus Blomqvist
2.	Reason for the notification
a)	Position/status	PDMR - Exploration Manager
b)	Initial notification /Amendment	Initial Notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Beowulf Mining plc
b)	LEI	213800MV3XGAOASPT433
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	Share options over ordinary shares of 1p each GB0033163287
b)	Nature of the transaction	Award of share options over ordinary shares
c)	Price(s) and volume(s)	Price(s)	Volume(s)
		7.35 pence	2,000,000
d)	Aggregated information - Aggregated volume - Price	Not applicable
e)	Date of the transaction	14 January, 2019
f)	Place of the transaction	Outside a trading venue

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