Anglo Pacific Group PLC: Vesting, Exercise and Sale of Options
London England (FSCwire) - Anglo Pacific Group PLC (the "Company") (LSE: APF, TSX: APY) announces that on 16 May 2018 the Company issued and allotted 37,954 new ordinary shares of 2 pence each in the Company as a result of the vesting and subsequent exercise of share options previously granted on 13 May 2015 by a number of employees, including Mr. Juan Alvarez, Head of Investments.
Mr. Alvarez exercised 5,422 options to subscribe for new ordinary shares of 2 pence each in the Company, which were granted at 92.2p each, and subsequently sold those shares as detailed in the table below.
Following this notification, the total beneficial holding of Shares by Mr. Alvarez and his connected persons remains at 4,000 Shares representing 0.01% of the issued ordinary share capital of the Company.
Application has been made to the London Stock Exchange and admission is expected on or around 21 May 2018. An application has been made to the Toronto Stock Exchange (the "TSX") to list the new shares.
Following admission the total issued share capital of the Company will be 180,939,988 ordinary shares. This figure may be used by shareholders as the denominator for the calculations by which they will determine whether they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.
Following the vesting of the 2015 awards, the Company further announces that on 15 May 2018, it granted to employees a total of 21,378 options to buy ordinary shares of 2 pence each in the Company at an exercise price of £1.637 per share under the Anglo Pacific Group Company Share Option Plan ("CSOP"). Some of these options have been granted on the condition that previous options granted under the CSOP, the performance conditions of which have not been met, will be cancelled. Consequently, the Company expects outstanding options over 18,450 shares to be cancelled as a result of the grants.
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Source: Anglo Pacific Group PLC (LSE:APF, TSX:APY, OTC Bulletin Board:AGPIF, FWB:HGR)
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