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

- Link: https://www.directorstalkinterviews.com/jubilee-announces-manuel-lino-silva-de-sousa-oliveira-as-independent-non-executive/4121066587
- Published: 2022-05-27T07:08:24+01:00
- Author: Giles

**Jubilee Metals Group plc** ([LON:JLP](https://www.directorstalkinterviews.com/company/jubilee-metals-group-plc/jlp.l))
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.

| **Director** | **Number of options granted** | **Vesting date** | **Strike price (pence)** | **Strike price****(ZAR cents)****at current exchange rates** | 
| ** ** | 9 000 000 | 26 May 2023 | 15 | 297 | 
| ** ** | 3 000 000 | 26 May 2024 | 19 | 376 | 
| ** ** | 3 000 000 | 26 May 2025 | 24 | 475 | 
| **Total – Ollie Oliveira** | **15 000 000** | ** ** | ** ** | ** ** | 
|  |  |  |  |  | 
|  | 2 000 000 | 26 May 2022 | 6 | 119 | 
|  | 2 500 000 | 01 Oct 2022 | 7 | 139 | 
|  | 3 000 000 | 01 Oct 2023 | 8 | 158 | 
| **Total – Nicholas Taylor** | **7 500 000** |  |  |  | 
| ** ** |  |  |  |  | 
| ** ** | 1 000 000 | 26 May 2022 | 10 | 198 | 
|  | 1 000 000 | 26 May 2023 | 19 | 376 | 
| **Total – Evan Kirby** | **2 000 000** |  |  |  |

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](https://www.directorstalkinterviews.com/company/jubilee-metals-group-plc/jlp.l)
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.

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