Jubilee announces Manuel Lino Silva de Sousa Oliveira as independent non-executive

Jubilee Metals Group plc

Jubilee Metals Group plc (LON:JLP) has announced, following the earlier announcement confirming the appointment of Manuel Lino Silva de Sousa Oliveira (Ollie De Sousa-Oliveira) as independent non-executive director of the Company with immediate effect and his appointment as Chairman effective 1 June 2022, the granting of a total of 24 500 000 options to directors in accordance with its approved Share Option Plan.

DirectorNumber of options grantedVesting dateStrike price (pence)Strike price(ZAR cents)at current exchange rates
 9 000 00026 May 202315297
 3 000 00026 May 202419376
 3 000 00026 May 202524475
Total – Ollie Oliveira15 000 000   
2 000 00026 May 20226119
2 500 00001 Oct 20227139
3 000 00001 Oct 20238158
Total – Nicholas Taylor7 500 000
 1 000 00026 May 202210198
1 000 00026 May 202319376
Total – Evan Kirby2 000 000

In the cases of Ollie Oliveira and Nicholas Taylor, the options have been priced based on the market price at the time of their appointments, with further tranches priced at a premium. The options are valid for a period of 10 years from the date of grant. The directors do not have any current interests in the issued capital of the Company. Following the grant of the above options, total options granted in terms of the Company’s approved Share Option Scheme represents approximately 5.9% of the issued capital of Jubilee Metals Group after the issue of the Option Shares.

Related Party Transactions

The award of options to the directors are regarded as related party transactions under the AIM Rules.  Accordingly, the independent directors (being all of the directors other than Messrs Oliveira, Taylor and Kirby) consider, having consulted with SPARK Advisory Partners Limited as nominated adviser, that the terms of the transaction are fair and reasonable insofar as its shareholders are concerned.

Find more news, interviews, share price & company profile here for:
Jubilee Metals Group Plc

Good news travels fast (but only if you make that happen):

Share on twitter
Share on linkedin
Share on facebook
Share on email
Share on reddit
Find more news, interviews, share price & company profile here for:
Jubilee Metals Group Plc

AIM All Share Index