Altus Strategies Plc: Grant of Share Options and PDMR Notification
24 August 2021 - Altus Strategies Plc (AIM:ALS) (TSXV:ALTS) (OTC:ALTUF) announces that it has granted share options ("Share Options") to acquire an aggregate of 575,000 ordinary shares of £0.05 each in the Company ("Ordinary Shares") to certain employees of and consultants to the Company. The exercise price of the Share Options is £0.7315 per Ordinary Share, being the same exercise price as all Share Options currently issued by the Company. The exercise price represents a 17.9% premium to the price of the Ordinary Shares as at the close of trading on AIM on 20 August 2021. A summary of the Share Option grant is set out in Table 1. Share Options Recipients Include:
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- Head office: Amilha Young, Company Secretary and Legal Counsel
- Egypt focus: Mark Campbell, General Manager and Chairman of Akh Gold Holdings Ltd
- Egypt focus: David Hall, Strategic Advisor to Akh Gold Holdings Ltd
- Mali focus: Boubacar Thera, Corporate Manager
Amilha Young - Company Secretary and Legal counsel (UK)
Ms Young is a qualified lawyer with over 20 years of experience in corporate governance, having worked with listed and private companies in the financial services and natural resources sectors in Africa and the UK. She is an independent corporate advisor at APY Corporate Advisory Ltd and previously held company secretary and general counsel roles with Moxico Resources Plc and Standard Chartered Bank. Ms Young holds a Bachelor of Laws degree from the University of Zambia, is a Qualified Legal Professional (First Class) from the Zambia Institute of Advanced Legal Education and is a member of Women in Mining UK.
Mark Campbell - Chairman (Akh Gold Holdings Ltd) & General Manager (Akh Gold)
Mr Campbell is based in Cairo and has over 40 years of experience in the mining, investment banking and petroleum industries, with 31 of those years being in Egypt. He is the retired former President and CEO of TSX-V listed Aton Resources Inc, having served as a director between 2009 and 2021. Mr Campbell was a former consultant to Pharaoh Gold Mines, a wholly owned subsidiary of LSE and TSX listed Centamin Plc. Prior to this he was involved in the drilling and oilfield services business, primarily operating in Egypt and Sudan. In addition, Mr Campbell has held senior positions with a number of investment banks, including Salomon Brothers Inc, First Boston Corporation and Lehman Brothers Kuhn Loeb Inc. Mr Campbell studied petroleum geology at Texas Tech University in the United States.
David Hall - Strategic Advisor (Egypt)
Mr Hall is an economic geologist with over 35 years of experience in the exploration and mining sector and has worked on and assessed exploration projects and mines in over 55 countries with both major mining companies and in establishing exploration and development companies. Mr Hall is the Chairman and co-founder of AIM and TSX-V listed Horizonte Minerals Plc and was the founder of Stratex International plc, an AIM listed company that discovered the Oksüt gold deposit, now in production with TSX listed Centerra Gold Inc. He has extensive experience in the Arabian Nubian Shield commencing in 1985 in Sudan and subsequently with Minex Minerals Egypt, when he was based in Cairo from 1986 to 1990. He has also reviewed projects in Yemen, Eritrea, Ethiopia and Saudi Arabia. Most recently he was CEO of Thani Stratex Resources Limited which defined a resource at the Anbat gold project in the Eastern Desert of Egypt. Mr Hall is a fellow of the Society of Economic Geologists and EuroGeol. He is a graduate of Trinity College Dublin in Geology and holds a Master's Degree in Mineral Exploration from Queens University, Kingston, Ontario (Canada).
Boubacar Thera - Corporate Manager (Mali)
Mr Thera is a Malian lawyer with over 25 years of professional experience in the natural resources industry in Africa focused on contract, joint venture and mining title negotiations including direct communications with government and local private partners. His past corporate positions include being the chairman of Petowal Mining Company SA, a gold producer in Senegal, and a founder and director of both Toro Gold Limited and Bambuk Minerals Limited. Mr Thera has over 15 years of experience in social and environment management and has been a member of mining code redrafting commissions for Senegal, Mali and Guinea.
Share Options: Summary
The Share Options have been granted under the Company's 2019 Share Option Scheme, as adopted by shareholders at its Annual General Meeting in June 2020. Following this grant, the Company will have issued Share Options to purchase a total of 5,675,000 Ordinary Shares, representing 7.06% of the Company's issued share capital of 80,391,535 Ordinary Shares.
Table 1. Summary of Grant
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|Date of grant |23 August 2021|
|----------------------------------------------------------|
|Exercise price |£0.7315 |
|----------------------------------------------------------|
|Closing (AIM) market price on date of grant|£0.62 |
|----------------------------------------------------------|
|Number of Ordinary Shares |575,000 |
|subject to Share Options | |
|granted | |
|----------------------------------------------------------|
|Option validity period |5 years |
|----------------------------------------------------------|
|Option vesting period |Up to |
| |18 |
| |months |
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Share Options: Vesting conditions
The Share Options are exercisable for a period of five years from grant and vest in two equal tranches after 12 months and after 18 months. Vesting is conditional on the holder remaining with the Company during the relevant period.
Share Options: PDMR Disclosure
Of the Share Options granted, Share Options to purchase 200,000 Ordinary Shares have been granted to Persons Discharging Managerial Responsibilities ("PDMRs") as detailed in Table 2.
Table 2: Share Options Granted to PDMRs
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|Date of grant |23 August 2021|
|----------------------------------------------------------|
|Exercise price |£0.7315 |
|----------------------------------------------------------|
|Closing (AIM) market price on date of grant|£0.62 |
|----------------------------------------------------------|
|Number of Ordinary Shares |575,000 |
|subject to Share Options | |
|granted | |
|----------------------------------------------------------|
|Option validity period |5 years |
|----------------------------------------------------------|
|Option vesting period |Up to |
| |18 |
| |months |
------------------------------------------------------------
Notification and public disclosure of transactions by PMDRs and persons closely associated with them.
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|Date of grant |23 August 2021|
|----------------------------------------------------------|
|Exercise price |£0.7315 |
|----------------------------------------------------------|
|Closing (AIM) market price on date of grant|£0.62 |
|----------------------------------------------------------|
|Number of Ordinary Shares |575,000 |
|subject to Share Options | |
|granted | |
|----------------------------------------------------------|
|Option validity period |5 years |
|----------------------------------------------------------|
|Option vesting period |Up to |
| |18 |
| |months |
------------------------------------------------------------
For further information you are invited to visit the Company's website www.altus-strategies.com or contact:
------------------------------------------------------------
|Date of grant |23 August 2021|
|----------------------------------------------------------|
|Exercise price |£0.7315 |
|----------------------------------------------------------|
|Closing (AIM) market price on date of grant|£0.62 |
|----------------------------------------------------------|
|Number of Ordinary Shares |575,000 |
|subject to Share Options | |
|granted | |
|----------------------------------------------------------|
|Option validity period |5 years |
|----------------------------------------------------------|
|Option vesting period |Up to |
| |18 |
| |months |
------------------------------------------------------------
About Altus Strategies Plc
Altus Strategies (AIM: ALS, TSX-V: ALTS & OTCQX: ALTUF) is a mining royalty company generating a diversified and precious metal focused portfolio of assets. The Company's focus on Africa and differentiated approach, of generating royalties on its own discoveries as well as through financings and acquisitions with third parties, has attracted key institutional investor backing. The Company engages constructively with all stakeholders, working diligently to minimise its environmental impact and to promote positive economic and social outcomes in the communities where it operates. For further information, please visit www.altus-strategies.com.
TSX Venture Exchange Disclaimer
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
Market Abuse Regulation Disclosure
This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with the Company's obligations under Article 17 of MAR.
Altus Strategies Plc / Index (EPIC): AIM (ALS) TSX-V (ALTS) OTCQX (ALTUF) / Sector: Mining
