Cobra Resources plc (the “Company”) today announces the grant (the “Grant”) of share options (the “Options”) to the directors of the Company which are exercisable over a total of 15,000,000 ordinary shares of nominal value 1 pence each (the “Ordinary Shares”) in the issued share capital of the Company.
The Options are exercisable at between 2 and 4 pence per Ordinary Share and subject to certain vesting conditions including;
1) The Company achieving mineral resources of 1 million ounces; or
2) A market capitalisation of £10 million.
Persons discharging managerial responsibility participating in the Grant are tabled below:
Following this announcement, the total number of current director options granted and outstanding is in respect of 15,672,336 Ordinary Shares representing 8 per cent. of the current issued share capital of the Company.
The information set out below is provided in accordance with the requirements of Regulation 19(3) of the EU Market Abuse Regulation No 596/2014:
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