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ANGLESEY MINING PLC - Issuance of Share Options to Directors and Employees

Trading Symbol

AIM: AYM

4 August 2022

Anglesey Mining plc

(“Anglesey” or “the Company”)

Issuance of Share Options to Directors and Employees

Director/PDMR Shareholding

Anglesey Mining plc (AIM:AYM), the UK minerals development company, today announces that the Board has approved the issuance of options to directors and employees of the Company.

The Company’s policy on director and executive compensation is to provide compensation to directors and management to ensure directors and senior management are appropriately compensated, motivated and retained. It is considered important that the contribution of directors be recognized, and that directors be incentivized to help move the Company forward.

Today's award of share options (the “Options”) to the directors and employees will have an exercise price of £0.04, representing a premium of 38% to the closing share price of £0.029 on 3 August 2022. A total of 10,900,000 Options have been granted. The Options are subject to time-based vesting conditions (with 25% of Options vesting on 31 March 2023, 25% on 30 September 2023, 25% on 31 March 2024 and 25% on 30 September 2024. The Options will lapse on 31 March 2030).

The award of the Options represents the first issuance of share options to directors and employees since September 2016. The non-executive directors of the Company had also previously waived the payment of cash fees since July 2014.

Details of Awards

Details of the awards to Directors and PDMRs are presented in the following table:

Director

Number of Options Granted

Exercise Price per Share Option

Options as a per cent of existing issued share capital1

John F Kearney

2,000,000

£0.04

0.71%

Jo Battershill

2,800,000

£0.04

1.00%

Danesh Varma

1,500,000

£0.04

0.54%

Howard Miller

1,000,000

£0.04

0.36%

Namrata Verma

1,000,000

£0.04

0.36%

Andrew J King

1,000,000

£0.04

0.36%

1 Existing issued share capital of 280,175,721 ordinary shares

There are no other options to directors and PDMRs issued or outstanding.

Related Party Transaction

The grant of the Options to the Directors as described in this announcement constitutes a related party transaction for the purposes of Rule 13 of the AIM Rules. Davy, as the Company’s nominated adviser, considers that the terms of the transaction are fair and reasonable insofar as the Company’s shareholders are concerned.

Award of Ordinary Shares to Chief Executive

Following the achievement of certain agreed milestones, the Board has also approved the issuance of 500,000 ordinary shares (the “New Ordinary Shares”) to Jonathan (Jo) Battershill, Chief Executive. Application will be made to the London Stock Exchange for admission of the New Ordinary Shares to trading on the AIM market of the London Stock Exchange. It is expected that admission will become effective and dealings in the New Ordinary Shares will commence on AIM at 8.00 a.m. on or around 10 August 2022.

Following admission of the New Ordinary Shares, the Company’s issued share capital will comprise 280,675,721 ordinary shares. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company's share capital pursuant to (i) the Company's Articles, (ii) the Financial Conduct Authority's Disclosure Guidance and Transparency Rules and/or (iii) the AIM Rules for Companies issued by the London Stock Exchange plc as amended from time to time. The New Ordinary Shares will be issued fully paid and will rank pari passu in all respects with the Company's existing Ordinary Shares.

Notification And Public Disclosure Of Transactions By Persons Discharging Managerial Responsibilities And Persons Closely Associated With Them

1.

Details of the person discharging managerial responsibilities/person closely associated

a)

Name:

  • John Kearney

  • Jo Battershill

  • Danesh Varma

  • Howard Miller

  • Namrata Verma

  • Andrew J King

2.

Reason for the notification

a)

Position/status:

  • Chairman (PDMR)

  • Chief Executive (PDMR)

  • Finance Director (PDMR)

  • Non-Executive Director (PDMR)

  • Independent Non-Executive Director (PDMR)

  • Independent Non-Executive Director (PDMR)

b)

Initial notification/Amendment:

Initial notification

3.

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name:

Anglesey Mining Plc

b)

LEI:

213800X8BO8EK2B4HQ71

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:
Identification code:

Share options over ordinary shares of 1 pence each

ISIN: GB0000320472

b)

Nature of the transaction:

Award of share options over ordinary shares. Each option has an exercise price of £0.04. The options are subject to time-based vesting conditions (with 25% of Options vesting on 31 March 2023, 25% on 30 September 2023, 25% on 31 March 2024 and 25% on 30 September 2024. The Options will lapse on 31 March 2030).

c)

Price(s) and volume(s):

Price(s)

Volume(s)

  • 4 pence

  • 4 pence

  • 4 pence

  • 4 pence

  • 4 pence

  • 4 pence

  • 2,000,000

  • 2,800,000

  • 1,500,000

  • 1,000,000

  • 1,000,000

  • 1,000,000

d)

Aggregated information:
Aggregated volume:
Price:

Price(s)

Volume(s)

4 pence

9,300,000

e)

Date of the transaction:

  • 3 August 2022

  • 3 August 2022

  • 3 August 2022

  • 3 August 2022

  • 3 August 2022

  • 3 August 2022

f)

Place of the transaction:

Outside a trading venue

1.

Details of the person discharging managerial responsibilities/person closely associated

a)

Name:

Jonathan (Jo) Battershill

2.

Reason for the notification

a)

Position/status:

Chief Executive (PDMR)

b)

Initial notification/Amendment:

Initial notification

3.

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name:

Anglesey Mining Plc

b)

LEI:

213800X8BO8EK2B4HQ71

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:
Identification code:

Ordinary shares of 1 pence each

ISIN: GB0000320472

b)

Nature of the transaction:

Award of Ordinary Shares in respect of achievement of performance milestones

c)

Price(s) and volume(s):

Price(s)

Volume(s)

Nil

500,000

d)

Aggregated information:
Aggregated volume:
Price:

N/a – single transaction

e)

Date of the transaction:

3 August 2022

f)

Place of the transaction:

Outside a trading venue

About Anglesey Mining plc


Anglesey Mining is traded on the AIM market of the London Stock Exchange and currently has 280,175,721 ordinary shares on issue.

Anglesey is developing its 100% owned Parys Mountain Cu-Zn-Pb-Ag-Au deposit in North Wales, UK with a 2020 reported resource of 5.2 million tonnes at 4.3% combined base metals in the Indicated category and 11.7 million tonnes at 2.8% combined base metals in the Inferred category.


Anglesey holds an almost 20% interest in the Grangesberg Iron project in Sweden, together with management rights and a right of first refusal to increase its interest to 70%. Anglesey also holds 11% of Labrador Iron Mines Holdings Limited, which through its 52% owned subsidiaries, is engaged in the exploration and development of direct shipping iron ore deposits in Labrador and Quebec.

For further information, please contact:


Anglesey Mining plc

Jo Battershill, Chief Executive – Tel: +44 (0)7540 366000

John Kearney, Chairman – Tel: +1 647 728 4106

Davy

Nominated Adviser & Joint Corporate Broker

Brian Garrahy / Lauren O’Sullivan – Tel: +353 1 679 6363

WH Ireland

Joint Corporate Broker

Katy Mitchell / Harry Ansell – Tel: +44 (0) 207 220 1666

Canaccord Genuity Limited

Joint Corporate Broker

James Asensio / Harry Rees – Tel: +44 (0) 20 7523 8000

Scout Advisory Limited

Investor Relations Consultant

Sean Wade – Tel: +44 (0) 7464 609025

LEI: 213800X8BO8EK2B4HQ71