Grant of Share Options and PDMR Notification
11 February 2022 - Altus Strategies Plc (AIM:ALS), (TSXV:ALTS), (OTC:ALTUF) announces that it has granted share options ("Share Options") to acquire an aggregate of 3,425,000 ordinary shares of £0.05 each in the Company ("Ordinary Shares") to certain directors, employees and consultants of the Company. The Share Options have exercise prices of £0.65 for 3,125,000 Ordinary Shares ("Grant A") and £0.7315 for 300,000 Ordinary Shares ("Grant B"), representing an 11.1% and 25.0% premium respectively to the price of the Ordinary Shares as at the close of trading on AIM on 9 February 2022. The Share Options are exercisable for five years from the date of grant. Details of the grants are set out in Tables 1 and 2 below. Share Option Summary
The Share Options have been granted under the Company's 2019 Share Option Scheme, which was adopted by shareholders at the Annual General Meeting in June 2020. Following this grant of Share Options, the Company will have issued Share Options to purchase a total of 9,100,000 Ordinary Shares, representing 7.8% of the Company's issued share capital of 117,321,678 Ordinary Shares.
Table 1. Share Option Summary
| Date of grant | 9 February 2022 |
| Closing market price on AIM on date of grant | £0.585 |
| Share Options validity period | 5 years |
| Share Options vesting period | Up to 18 months |
| Grant A: Exercise price per Ordinary Share | £0.65 |
| Grant A: Number of Ordinary Shares subject to Share Options granted | 3,125,000 |
| Grant B: Exercise price per Ordinary Share | £0.7315 |
| Grant B: Number of Ordinary Shares subject to Share Options granted | 300,000 |
| Total Number of Ordinary Shares subject to Share Options granted | 3,425,000 |
Share Option Vesting Conditions
For executive Directors and employees, the Share Options vest in two equal tranches at 12 months and 18 months from the date of grant. Vesting is conditional on the holder remaining with the Company during the relevant period. For non-executive Directors, the Share Options vest in a single tranche on the date of grant.
Share Options Granted to Directors and PDMR
Share Options to purchase a total of 2,450,000 Ordinary Shares were granted to Directors and those employees considered as a Person Discharging Managerial Responsibilities ("PDMR"). The balance of the Share Options (to purchase 975,000 Ordinary Shares) were granted to Company employees and consultants.
Table 2: Share Options Granted to Directors and PDMR
| PDMR | Position | Number of Ordinary Shares subject to Share Options granted | Number of Ordinary Shares subject to Share Options granted as a % of the Company's current issued share capital |
| David Netherway | Non-Executive Chairman | 250,000 | 0.21% |
| Karim Nasr | Non-Executive Director | 175,000 | 0.15% |
| Robert Milroy1 | Non-Executive Director | 200,000 | 0.17% |
| Michael Winn | Non-Executive Director | 175,000 | 0.15% |
| Steven Poulton | Chief Executive & Director | 500,000 | 0.43% |
| Matthew Grainger | Executive Director | 300,000 | 0.26% |
| Alister Hume | Chief Investment Officer | 300,000 | 0.26% |
| Martin Keylock | Chief Financial Officer | 150,000 | 0.13% |
| Sandra Bates | General Counsel | 100,000 | 0.09% |
| Amilha Young | Legal Counsel & Company Secretary | 100,000 | 0.09% |
| William Slater | VP Operations | 100,000 | 0.09% |
| Richard Belcher | Senior Consultant Geologist | 100,000 | 0.09% |
| Total | 2450000 | 2.12 | |
| Notes:
| |||
Notification and public disclosure of transactions by PDMRs and persons closely associated with them.
| 1 | Details of the Person Discharging Managerial Responsibilities / persons closely associated | |
| a) | Name |
|
| 2 | Reason for the notification | |
| a) | Position/status |
|
| b) | Initial notification/ Amendment | Initial notification |
| 3 | Details of the issuer emission allowance market participant, auction platform, auctioneer or auction monitor | |
| a) | Name | |
| b) | LEI | 2138001P93D9LMFIUA28 |
| 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 | Ordinary Shares of 0.05 pence each |
| b) | Identification code | GB00BJ9TYB96 |
| c) | Nature of the transaction | Grant of Share Options |
| d) | Price(s) and volume(s) | Price for all grants £0.65 Volumes
|
| e) | Aggregated information | |
| Aggregated volume Price | Share Options: 2,450,000 Exercise price: £0.65 | |
| f) | Date of the transactions | 9 February 2022 |
| g) | Place of the transactions | Off market |
For further information you are invited to visit the Company's website www.altus-strategies.com or contact:
| Steven Poulton, Chief Executive | Tel: +44 (0) 1235 511 767 E-mail: info@altus-strategies.com |
| SP Angel Corporate Finance LLP (Nominated Adviser) Richard Morrison / Adam Cowl | Tel: +44 (0) 20 3470 0470 |
| SP Angel Corporate Finance LLP (Broker) Grant Barker Rob Rees | Tel: +44 (0) 20 3470 0471 Tel: +44 (0) 20 3470 0535 |
| Shard Capital Partners LLP (Broker) Isabella Pierre / Damon Heath | Tel: +44 (0) 20 7186 9927 |
| Yellow Jersey PR (Financial PR & IR) Charles Goodwin / Henry Wilkinson | Tel: +44 (0) 20 3004 9512 E-mail: altus@yellowjerseypr.com |
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 differentiated approach of generating royalties on its own discoveries in Africa and acquiring royalties globally 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 Organisation 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. Upon publication of this announcement, the inside information is now considered to be in the public domain for the purposes of MAR.
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