Tri-Star Resources Plc - Grant of Share Options

Tri-Star Resources Plc - Grant of Share Options

PR Newswire

London, June 25

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

25 June 2018

Tri-Star Resources plc ("Tri-Star" or the "Company")

Grant of Share Options

Tri-Star announces that the Company has granted the following share options to Karen O'Mahony (acting CEO and CFO), David Fletcher (non-executive director) and Mark Wellesley-Wood (executive chairman) over 1,500,000 ordinary shares of 5 pence each in the Company ( the "Share Options") under the Company's share option plans:

Director	No. of Share Options being issued	Exercise price per Share Option
Karen O'Mahony	833,333	5p
David Fletcher	500,000	30p
Mark Wellesley-Wood	166,667	30p

The Share Options vest immediately and have a life of three years from the date of grant.

The Share Options are being awarded in recognition of the services provided by the relevant directors in relation to the Company's financing and operations and, in particular, to its investment in Strategic and Precious Metals Processing LLP ("SPMP") which is constructing an antimony and gold processing facility in Oman (the "Project").

For Karen O'Mahony, a significant proportion of the award represents the share-based element of her compensation package agreed at the time she became acting CEO and CFO and reflects the lower base salary that was negotiated at that time to assist in the Company's drive to control cash expenditure.

Following the grant of the Share Options, Karen O'Mahony, David Fletcher and Mark Wellesley-Wood will hold share options as follows:

Director	No. of existing options (post-consolidation)	Exercise price of existing options	No. of new share options	Exercise price of new share options	Total no. of ordinary shares subject to share options
Karen O'Mahony	-	-	833,333	5p	833,333
David Fletcher	-	-	500,000	30p	500,000
Mark Wellesley-Wood	50,000	11p	166,667	30p	216,667

Related Party Transaction

Karen O'Mahony, David Fletcher and Mark Wellesley-Wood, as directors of the Company are "related parties" as defined under the AIM Rules for Companies and accordingly the grant of the Share Options to them constitutes a related party transaction for the purposes of Rule 13 of the AIM Rules for Companies.

The director independent of the grant of options, being Adrian Collins, considers, having consulted with the Company's nominated adviser, SP Angel Corporate Finance LLP, that the terms of the Share Options are fair and reasonable insofar as the Company's shareholders are concerned.

ENDS

Project

The Project is an antimony and gold production facility with annual capacity to process up to 50,000 dry tonnes of antimony and gold concentrate, producing up to 20,000 tonnes of antimony and 50,000 ounces of gold. OAR is based in Sohar, Oman and is being developed by SPMP, an Omani company in which Tri-Star has an equity and mezzanine debt holding. The plant is being built to the highest environmental standards and, once fully operational, it is expected to become a significant player in the antimony market.

Enquiries:

Tri-Star Resources plc	Tel: [phone]
Karen O'Mahony, Acting Chief Executive Officer	Email: [e-mail]
SP Angel Corporate Finance (Nomad and broker)	Tel: [phone]
Robert Wooldridge / Jeff Keating

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:

Karen O'Mahony

2.

Reason for the notification

a)

Position/status:

Acting CEO and CFO

b)

Initial notification/Amendment:

Initial notification

3.

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

a)

Name:

Tri-Star Resources plc

b)

LEI:

213800TIXZSF4ZYI2E58

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:

Ordinary shares of 5 pence each

b)

Nature of the transaction:

Issue of options

c)

Price(s) and volume(s):

Price(s)	Volume(s)
5p	833,333

d)

Aggregated information:
Aggregated volume:
Price:

Single transaction as in 4 c) above

Price(s)	Volume(s)
5p	833,333

e)

Date of the transaction:

25 June 2018

f)

Place of the transaction:

Outside a trading venue

1.

Details of the person discharging managerial responsibilities/person closely associated

a)

Name:

David Fletcher

2.

Reason for the notification

a)

Position/status:

Non-Executive Director

b)

Initial notification/Amendment:

Initial notification

3.

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

a)

Name:

Tri-Star Resources plc

b)

LEI:

213800TIXZSF4ZYI2E58

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:

Ordinary shares of 5 pence each

b)

Nature of the transaction:

Issue of options

c)

Price(s) and volume(s):

Price(s)	Volume(s)
30p	500,000

d)

Aggregated information:
Aggregated volume:
Price:

Single transaction as in 4 c) above

Price(s)	Volume(s)
30p	500,000

e)

Date of the transaction:

25 June 2018

f)

Place of the transaction:

Outside a trading venue

1.

Details of the person discharging managerial responsibilities/person closely associated

a)

Name:

Mark Wellesley-Wood

2.

Reason for the notification

a)

Position/status:

Executive Chairman

b)

Initial notification/Amendment:

Initial notification

3.

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

a)

Name:

Tri-Star Resources plc

b)

LEI:

213800TIXZSF4ZYI2E58

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:

Ordinary shares of 5 pence each

b)

Nature of the transaction:

Issue of options

c)

Price(s) and volume(s):

Price(s)	Volume(s)
30p	166,667

d)

Aggregated information:
Aggregated volume:
Price:

Single transaction as in 4 c) above

Price(s)	Volume(s)
30p	166,667

e)

Date of the transaction:

25 June 2018

f)

Place of the transaction:

Outside a trading venue