Europa Metals, the European focused lead-zinc and silver developer, announces that, further to the approval of resolutions 5 to 9 at the Company’s General Meeting held on 15 July 2020, the Company has today granted, in aggregate, 1,980,000 options to the Company’s Executive and Non-Executive Directors (the “Incentive Options”).
The Incentive Options are exercisable at varying premiums to 6.03 pence, being the 30-day VWAP up to and including 23 July 2020.
In addition, 20,000 options, originally intended to be issued to Daniel Smith, pursuant to the passing of resolution 9, have instead been issued to a consultant of the Company, on the same terms as the Incentive Options granted to the Non-Executive Directors. Accordingly, Daniel Smith has been granted 80,000 Incentive Options as set out below.
Further details on the Incentive Options issued to the Executive Directors and the resultant total options held by each such director are set out below:
Details of the individual tranches are as follows:
a) Tranche 1: exercisable at a price of 7.54 pence per share (being a 25% premium to the 30-day VWAP up to and including 23 July 2020) and expiring on or before 24 July 2023;
b) Tranche 2: exercisable at a price of 9.04 pence per share (being a 50% premium to the 30-day VWAP up to and including 23 July 2020) and expiring on or before 24 July 2023; and
c) Tranche 3: exercisable at a price of 10.55 pence per share (being a 75% premium to the 30-day VWAP up to and including 23 July 2020) and expiring on or before 24 July 2023.
Further details on the Incentive Options issued to the Non-Executive Directors and the resultant total options held by each such director are set out below:
