17 May 2022
Pensana Plc
(“Pensana” or
the “Company”)
Grant of Share
Awards
Pensana Plc, announces that, on 16 May
2022, it granted share awards over, in aggregate, 2,179,619
ordinary shares of 1p each in the capital of the Company ("Ordinary
Shares") to directors, senior management and employees. For the
purposes of the allocation, a share price of 120p per Ordinary
Share was used.
Accordingly, a total of 4,429,619 share awards are outstanding
following these latest grants, which represents approximately 1.88
per cent of the Company's existing issued share capital of
235,599,539 Ordinary Shares.
Executive Directors
The following new Share Awards have been granted to Executive
Directors and/or Officers of the Company:
|
Name |
Position |
Number
of New Share Awards Granted |
Vesting
Period |
Total
Share Awards Held Following This Grant |
| Tim George |
CEO |
708,333 |
3 years |
1,958,333 |
| Robert Kaplan |
CFO |
487,500 |
3 years |
1,487,500 |
| Rocky Smith |
COO |
400,000 |
3 years |
400,000 |
The new Share Awards set out in the table above for Executive
Directors and/or Officers all vest in one tranche (three years from
the date of grant) subject to the satisfaction of certain
performance conditions to be determined and interpreted at the
discretion of the Remuneration Committee over the three-year
period. Upon vesting, no consideration is payable. Subject to
vesting and such performance conditions being met, the new Share
Awards will be allocated to the participant as fully paid ordinary
shares.
Senior Management and Employees
A further 583,785 Share Awards, in aggregate, have been granted
to certain other members of senior management and employees. For
the purposes of the allocation, a share price of 120p per Ordinary
Share was used.
The notifications below are made in accordance with the
requirements of MAR.
PDMR Notification Forms
| 1 |
Details of the person
discharging managerial responsibilities/person closely
associated |
| a) |
Name |
Tim George |
| 2 |
Reason for the
notification |
| a) |
Position/status |
CEO |
| b) |
Initial notification/Amendment |
Initial notification |
| 3 |
Details of the issuer,
emission allowance market participant, auction platform, auctioneer
or auction monitor |
| a) |
Name |
Pensana Plc |
| b) |
LEI |
213800H4QP6T9499RU64 |
| 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 |
Ordinary shares of 1p each |
|
Identification code |
GB00BKM0ZJ18 |
| b) |
Nature of the transaction |
Grant of Share Awards |
| c) |
Price(s) and
volume(s) |
Price: N/A
Volume: 708,333 |
| d) |
Aggregated
information |
Aggregated volume:
N/A
Price: N/A |
| e) |
Date of the transaction |
16 May 2022 |
| f) |
Place of the transaction |
LSE |
| 1 |
Details of the person
discharging managerial responsibilities/person closely
associated |
| a) |
Name |
Robert Kaplan |
| 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 |
Pensana Plc |
| b) |
LEI |
213800H4QP6T9499RU64 |
| 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 |
Ordinary shares of 1p each |
|
Identification code |
GB00BKM0ZJ18 |
| b) |
Nature of the transaction |
Grant of Share Awards |
| c) |
Price(s) and
volume(s) |
Price: N/A
Volume: 487,500 |
| d) |
Aggregated
information |
Aggregated volume:
N/A
Price: N/A |
| e) |
Date of the transaction |
16 May 2022 |
| f) |
Place of the transaction |
LSE |
| 1 |
Details of the person
discharging managerial responsibilities/person closely
associated |
| a) |
Name |
Rocky Smith |
| 2 |
Reason for the
notification |
| a) |
Position/status |
COO |
| b) |
Initial notification/Amendment |
Initial notification |
| 3 |
Details of the issuer,
emission allowance market participant, auction platform, auctioneer
or auction monitor |
| a) |
Name |
Pensana Plc |
| b) |
LEI |
213800H4QP6T9499RU64 |
| 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 |
Ordinary shares of 1p each |
|
Identification code |
GB00BKM0ZJ18 |
| b) |
Nature of the transaction |
Grant of Share Awards |
| c) |
Price(s) and
volume(s) |
Price: N/A
Volume: 400,000 |
| d) |
Aggregated
information |
Aggregated volume:
N/A
Price: N/A |
| e) |
Date of the transaction |
16 May 2022 |
| f) |
Place of the transaction |
LSE |
ENDS
For further information, please
contact:
Shareholder/analyst enquiries:
Pensana Plc
Paul Atherley,
Chairman
IR@pensana.co.uk
Tim George, Chief Executive
Officer
Virginia Skroski, Head of
Investor Relations & Communications
Media enquiries:
Finsbury Glover Hering:
Gordon Simpson / Richard
Crowley
Pensana-LON@finsbury.com
About Pensana plc
The electrification of motive power is the most important part
of the energy transition and one of the biggest energy transitions
in history. Magnet metals are central to the transition and
critical to high value manufacturing applications such as electric
vehicles and offshore wind turbines.
Pensana plans to establish Saltend as an independent,
sustainable supplier of the key magnet metal oxides to a market
which is currently dominated by China. The US$190
million Saltend facility is being designed to produce circa
12,500 tonnes per annum of rare earth oxides, of which 4,500 tonnes
will be neodymium and praseodymium (NdPr), representing over 5% of
the world market in 2025.
The Saltend facility is located within the world class Saltend
Chemicals Park, a cluster of leading chemicals and renewable energy
businesses at the heart of the UK’s energy estuary, and host to a
range of companies including BP Petrochemicals technology, INEOS,
Air Products, Triton Power, Nippon Gohsei and Tricoya.
Pensana’s plug and play facility will create over 500 jobs
during construction and over 125 direct jobs once in production. It
will be the first major separation facility to be established in
over a decade and will become one of only three major producers
located outside China.
Initial feedstock will be shipped as a clean, high purity mixed
rare earth sulphate (MRES) from the Company’s Longonjo low impact
mine in Angola. The mine’s
state-of-the-art concentrator and proprietary MRES processing plant
are being designed by Wood to the highest international standards.
They will be powered by minimal carbon hydro-electric power and
connected to the Port of Lobito by the recently upgraded Benguela
railway line.
Pensana is of the view that provenance of critical rare earth
materials supply, life cycle analysis and GHG Scope 1, 2 and 3
emissions will all become significant factors in supply chains for
major customers. The Company intends to offer customers an
independently and sustainably sourced supply of the metal oxides
and carbonates of increasing importance to a range of applications
central to the energy transition, industrial, medical, military and
communications sectors.
For many miners around the world who are looking to access the
European and US supply chains, it is becoming increasingly clear
that the proposed EU and possible UK carbon border taxation would
mean that it is no longer acceptable for manufacturers to source
material extracted or processed unsustainably.
Pensana is aiming to establish Saltend as an attractive
alternative to mining houses who may otherwise be limited to
selling their products to China,
having designed the facility to be easily adapted to cater for a
range of rare earth feedstocks.
www.pensana.co.uk