This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014
9 March 2022
Iofina plc
(“Iofina” or the “Company“)
(LSE AIM: IOF)
Grant of Share Options
Iofina plc, specialists in the exploration and production of iodine and manufacturers of specialty chemical products, announces that it has awarded, with effect from 8 March, a total of 1,196,700 share option awards (the “March 2022 Options“). Each March 2022 Option is exercisable over one ordinary share of £0.01 each in the capital of the Company (“Ordinary Shares“) and is subject to the rules of the Company’s 2018 Stock Option Plan (the “2018 Option Plan“). The March 2022 Options represent approximately 0.62 per cent. of the current issued share capital of the Company.
The March 2022 Options will be exercisable at a price of £0.1763 per Ordinary Share (being the mid-market closing price of the Ordinary Shares on 8 March 2022), with 50 per cent. of the options vesting one year from the date of grant and the remaining 50 per cent. vesting two years from the date of grant (the “Vesting Conditions“). The March 2022 Options are exercisable at any time, following vesting, prior to (and including) the day falling on the tenth anniversary of grant. If an option holder leaves the Company, they will have a period of 90 days within which to exercise any vested options, failing which they will lapse.
The grant of the March 2022 Options, together with the grant of other options, under the 2018 Option Plan forms part of the Company’s long-term incentive arrangements designed to align the interests of shareholders and certain key members of the Company’s management team.
The total options granted over Ordinary Shares to Persons Discharging Managerial Responsibilities within the Company (each being a “PDMRs“) are detailed below. Further, an additional 120,000 March 2022 Options have been granted to non-PDMRs.
2018 Plan Options Issued 8 March 2022
| Exercise | |||
| PDMR | Options | Price | Lapse Date |
| J Frank Mermoud | 82,500 | £0.1763 | 8-March-2032 |
| Malcolm Lewin | 181,500 | £0.1763 | 8-March-2032 |
| Lance Baller | 165,000 | £0.1763 | 8-March-2032 |
| Bill Bellamy | 82,500 | £0.1763 | 8-March-2032 |
| Mary Fallin-Christensen | 82,500 | £0.1763 | 8-March-2032 |
| Tom Becker | 266,200 | £0.1763 | 8-March-2032 |
| Forest Dorn | 90,750 | £0.1763 | 8-March-2032 |
| Kurt Jones | 90,750 | £0.1763 | 8-March-2032 |
| JT Albi | 35,000 | £0.1763 | 8-March-2032 |
Enquiries:
Dr. Tom Becker
CEO & President
Iofina plc
Tel: +44 (0)20 3006 3135
Christopher Raggett/Tim Harper (corporate finance)
Tim Redfern (ECM)
finnCap Ltd
Tel: +44 (0)20 7220 0500
Media Contact:
Charles Goodwin/Annabel Atkins
Yellow Jersey PR Limited
Tel: +44 (0)7747 788 221
About Iofina:
Iofina plc (AIM: IOF) is a vertically integrated Company that specialises in the production of Iodine and the manufacturing of specialty chemical products. Iofina is the second largest producer of iodine in North America and operates the manufacturing entities Iofina Resources and Iofina Chemical.
LEI: 213800QDMFYVRJYYTQ84
ISIN: GB00B2QL5C79
Iofina Resources
Iofina Resources develops, builds, owns and operates iodine extraction plants using Iofina’s WET® IOsorb® technology. Iofina currently operates five producing IOsorb® plants in Oklahoma and is consistently using technology and innovation to improve and expand its operations.
Iofina Chemical
Iofina Chemical has manufactured high quality halogen speciality chemicals derived from raw iodine, as well as non-iodine based products for over 37 years.
| 1. | Details of the person discharging managerial responsibilities/person closely associated | |||||
| a) | Name: | J Frank Mermoud | ||||
| 2. | Reason for the notification | |||||
| a) | Position/status: | Non-Executive Director | ||||
| b) | Initial notification/Amendment: | Initial notification | ||||
| 3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
| a) | Name: | Iofina plc | ||||
| b) | LEI: | 213800QDMFYVRJYYTQ84 | ||||
| 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: |
Options over ordinary shares of 1 pence each GB00B2QL5C79 |
||||
| b) | Nature of the transaction: | Grant of Options | ||||
| c) | Price(s) and volume(s): |
|
||||
| d) |
Aggregated information: – Aggregated volume: – Price: |
As above | ||||
| e) | Date of the transaction: | 8 March 2022 | ||||
| f) | Place of the transaction: | AIM, London Stock Exchange (XLON) | ||||
| 1. | Details of the person discharging managerial responsibilities/person closely associated | |||||
| a) | Name: | Malcolm Lewin | ||||
| 2. | Reason for the notification | |||||
| a) | Position/status: | CFO | ||||
| b) | Initial notification/Amendment: | Initial notification | ||||
| 3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
| a) | Name: | Iofina plc | ||||
| b) | LEI: | 213800QDMFYVRJYYTQ84 | ||||
| 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: |
Options over ordinary shares of 1 pence each GB00B2QL5C79 |
||||
| b) | Nature of the transaction: | Grant of Options | ||||
| c) | Price(s) and volume(s): |
|
||||
| d) |
Aggregated information: – Aggregated volume: – Price: |
As above | ||||
| e) | Date of the transaction: | 8 March 2022 | ||||
| f) | Place of the transaction: | AIM, London Stock Exchange (XLON) | ||||
| 1. | Details of the person discharging managerial responsibilities/person closely associated | |||||
| a) | Name: | Lance Baller | ||||
| 2. | Reason for the notification | |||||
| a) | Position/status: | Non-Executive Chairman | ||||
| b) | Initial notification/Amendment: | Initial notification | ||||
| 3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
| a) | Name: | Iofina plc | ||||
| b) | LEI: | 213800QDMFYVRJYYTQ84 | ||||
| 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: |
Options over ordinary shares of 1 pence each GB00B2QL5C79 |
||||
| b) | Nature of the transaction: | Grant of Options | ||||
| c) | Price(s) and volume(s): |
|
||||
| d) |
Aggregated information: – Aggregated volume: – Price: |
As above | ||||
| e) | Date of the transaction: | 8 March 2022 | ||||
| f) | Place of the transaction: | AIM, London Stock Exchange (XLON) | ||||
| 1. | Details of the person discharging managerial responsibilities/person closely associated | |||||
| a) | Name: | Bill Bellamy | ||||
| 2. | Reason for the notification | |||||
| a) | Position/status: | Non-Executive Director | ||||
| b) | Initial notification/Amendment: | Initial notification | ||||
| 3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
| a) | Name: | Iofina plc | ||||
| b) | LEI: | 213800QDMFYVRJYYTQ84 | ||||
| 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: |
Options over ordinary shares of 1 pence each GB00B2QL5C79 |
||||
| b) | Nature of the transaction: | Grant of Options | ||||
| c) | Price(s) and volume(s): |
|
||||
| d) |
Aggregated information: – Aggregated volume: – Price: |
As above | ||||
| e) | Date of the transaction: | 8 March 2022 | ||||
| f) | Place of the transaction: | AIM, London Stock Exchange (XLON) | ||||
| 1. | Details of the person discharging managerial responsibilities/person closely associated | |||||
| a) | Name: | Mary Fallin-Christensen | ||||
| 2. | Reason for the notification | |||||
| a) | Position/status: | Non-Executive Director | ||||
| b) | Initial notification/Amendment: | Initial notification | ||||
| 3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
| a) | Name: | Iofina plc | ||||
| b) | LEI: | 213800QDMFYVRJYYTQ84 | ||||
| 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: |
Options over ordinary shares of 1 pence each GB00B2QL5C79 |
||||
| b) | Nature of the transaction: | Grant of Options | ||||
| c) | Price(s) and volume(s): |
|
||||
| d) |
Aggregated information: – Aggregated volume: – Price: |
As above | ||||
| e) | Date of the transaction: | 8 March 2022 | ||||
| f) | Place of the transaction: | AIM, London Stock Exchange (XLON) | ||||
| 1. | Details of the person discharging managerial responsibilities/person closely associated | |||||
| a) | Name: | Tom Becker | ||||
| 2. | Reason for the notification | |||||
| a) | Position/status: | Non-Executive Director | ||||
| b) | Initial notification/Amendment: | Initial notification | ||||
| 3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
| a) | Name: | Iofina plc | ||||
| b) | LEI: | 213800QDMFYVRJYYTQ84 | ||||
| 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: |
Options over ordinary shares of 1 pence each GB00B2QL5C79 |
||||
| b) | Nature of the transaction: | Grant of Options | ||||
| c) | Price(s) and volume(s): |
|
||||
| d) |
Aggregated information: – Aggregated volume: – Price: |
As above | ||||
| e) | Date of the transaction: | 8 March 2022 | ||||
| f) | Place of the transaction: | AIM, London Stock Exchange (XLON) | ||||
| 1. | Details of the person discharging managerial responsibilities/person closely associated | |||||
| a) | Name: | Forest Dorn | ||||
| 2. | Reason for the notification | |||||
| a) | Position/status: | PDMR | ||||
| b) | Initial notification/Amendment: | Initial notification | ||||
| 3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
| a) | Name: | Iofina plc | ||||
| b) | LEI: | 213800QDMFYVRJYYTQ84 | ||||
| 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: |
Options over ordinary shares of 1 pence each GB00B2QL5C79 |
||||
| b) | Nature of the transaction: | Grant of Options | ||||
| c) | Price(s) and volume(s): |
|
||||
| d) |
Aggregated information: – Aggregated volume: – Price: |
As above | ||||
| e) | Date of the transaction: | 8 March 2022 | ||||
| f) | Place of the transaction: | AIM, London Stock Exchange (XLON) | ||||
| 1. | Details of the person discharging managerial responsibilities/person closely associated | |||||
| a) | Name: | Kurt Jones | ||||
| 2. | Reason for the notification | |||||
| a) | Position/status: | PDMR | ||||
| b) | Initial notification/Amendment: | Initial notification | ||||
| 3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
| a) | Name: | Iofina plc | ||||
| b) | LEI: | 213800QDMFYVRJYYTQ84 | ||||
| 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: |
Options over ordinary shares of 1 pence each GB00B2QL5C79 |
||||
| b) | Nature of the transaction: | Grant of Options | ||||
| c) | Price(s) and volume(s): |
|
||||
| d) |
Aggregated information: – Aggregated volume: – Price: |
As above | ||||
| e) | Date of the transaction: | 8 March 2022 | ||||
| f) | Place of the transaction: | AIM, London Stock Exchange (XLON) | ||||
| 1. | Details of the person discharging managerial responsibilities/person closely associated | |||||
| a) | Name: | JT Albi | ||||
| 2. | Reason for the notification | |||||
| a) | Position/status: | PDMR | ||||
| b) | Initial notification/Amendment: | Initial notification | ||||
| 3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
| a) | Name: | Iofina plc | ||||
| b) | LEI: | 213800QDMFYVRJYYTQ84 | ||||
| 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: |
Options over ordinary shares of 1 pence each GB00B2QL5C79 |
||||
| b) | Nature of the transaction: | Grant of Options | ||||
| c) | Price(s) and volume(s): |
|
||||
| d) |
Aggregated information: – Aggregated volume: – Price: |
As above | ||||
| e) | Date of the transaction: | 8 March 2022 | ||||
| f) | Place of the transaction: | AIM, London Stock Exchange (XLON) | ||||