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Altus Strategies Plc / Index (EPIC): AIM (ALS); TSX-V (ALTS); OTCQX (ALTUF) / Sector: Mining

Altus Strategies Plc

(“Altus” or the “Company”)

Altus Strategies Plc (AIM: ALS, TSX-V: ALTS, OTCQX: ALTUF) announces that it has granted share options (“Share Options”) to acquire an aggregate of 3,425,000 ordinary shares of £0.05 each in the Company (“Ordinary Shares”) to certain directors, employees and consultants of the Company. The Share Options have exercise prices of £0.65 for 3,125,000 Ordinary Shares (“Grant A”) and £0.7315 for 300,000 Ordinary Shares (“Grant B”), representing an 11.1% and 25.0% premium respectively to the price of the Ordinary Shares as at the close of trading on AIM on 9 February 2022. The Share Options are exercisable for five years from the date of grant. Details of the grants are set out in Tables 1 and 2 below.

Share Option Summary
The Share Options have been granted under the Company’s 2019 Share Option Scheme, which was adopted by shareholders at the Annual General Meeting in June 2020. Following this grant of Share Options, the Company will have issued Share Options to purchase a total of 9,100,000 Ordinary Shares, representing 7.8% of the Company’s issued share capital of 117,321,678 Ordinary Shares.

Table 1. Share Option Summary

Date of grant

9 February 2022

Closing market price on AIM on date of grant

£0.585

Share Options validity period

5 years

Share Options vesting period

Up to 18 months

Grant A: Exercise price per Ordinary Share

£0.65

Grant A: Number of Ordinary Shares subject to Share Options granted

3,125,000

Grant B: Exercise price per Ordinary Share

£0.7315

Grant B: Number of Ordinary Shares subject to Share Options granted

300,000

Total Number of Ordinary Shares subject to Share Options granted

3,425,000

Share Option Vesting Conditions
For executive Directors and employees, the Share Options vest in two equal tranches at 12 months and 18 months from the date of grant. Vesting is conditional on the holder remaining with the Company during the relevant period. For non-executive Directors, the Share Options vest in a single tranche on the date of grant.

Share Options Granted to Directors and PDMR
Share Options to purchase a total of 2,450,000 Ordinary Shares were granted to Directors and those employees considered as a Person Discharging Managerial Responsibilities (“PDMR”). The balance of the Share Options (to purchase 975,000 Ordinary Shares) were granted to Company employees and consultants.

Table 2: Share Options Granted to Directors and PDMR

PDMR

Position

Number of Ordinary Shares subject to Share Options granted

Number of Ordinary Shares subject to Share Options granted as a % of the Company’s current issued share capital

David Netherway

Non-Executive Chairman

250,000

0.21%

Karim Nasr

Non-Executive Director

175,000

0.15%

Robert Milroy1

Non-Executive Director

200,000

0.17%

Michael Winn

Non-Executive Director

175,000

0.15%

Steven Poulton

Chief Executive & Director

500,000

0.43%

Matthew Grainger

Executive Director

300,000

0.26%

Alister Hume

Chief Investment Officer

300,000

0.26%

Martin Keylock

Chief Financial Officer

150,000

0.13%

Sandra Bates

General Counsel

100,000

0.09%

Amilha Young

Legal Counsel & Company Secretary

100,000

0.09%

William Slater

VP Operations

100,000

0.09%

Richard Belcher

Senior Consultant Geologist

100,000

0.09%

Total

 

2,450,000

2.09%

Notes:

1.     Granted in the name of Milroy Capital Ltd

2.     Percentages subject to rounding

Notification and public disclosure of transactions by PDMRs and persons closely associated with them.

1

Details of the Person Discharging Managerial Responsibilities / persons closely associated

a)

Name

1.     David Netherway

2.     Karim Nasr

3.     Robert Milroy

4.     Michael Winn

5.     Steven Poulton

6.     Matthew Grainger

7.     Alister Hume

8.     Martin Keylock

9.     Sandra Bates

10.  Amilha Young

11.  William Slater

12.  Richard Belcher

2

Reason for the notification

a)

Position/status

1.       Non-Executive Chairman

2.       Non-Executive Director

3.       Non-Executive Director

4.       Non-Executive Director

5.       Chief Executive & Director

6.       Executive Director

7.       Chief Investment Officer

8.       Chief Financial Officer

9.       General Counsel

10.    Legal Counsel & Company Secretary

11.    VP Operations

12.    Senior Consultant Geologist

b)

Initial notification/ Amendment

Initial notification

3

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

a)

Name

Altus Strategies Plc

b)

LEI

2138001P93D9LMFIUA28

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 0.05 pence each

b)

Identification code

GB00BJ9TYB96

c)

Nature of the transaction

Grant of Share Options

d)

Price(s) and volume(s)

Price for all grants £0.65

Volumes

1.     250,000

2.     175,000

3.     200,000

4.     175,000

5.     500,000

6.     300,000

7.     300,000

8.     150,000

9.     100,000

10.  100,000

11.  100,000

12.  100,000

e)

Aggregated information

 
 

Aggregated volume

Price

Share Options: 2,450,000

Exercise price: £0.65

f)

Date of the transactions

9 February 2022

g)

Place of the transactions

Off market

For further information you are invited to visit the Company’s website www.altus-strategies.com or contact:

Altus Strategies Plc

Steven Poulton, Chief Executive

Tel: +44 (0) 1235 511 767

E-mail: info@altus-strategies.com

SP Angel Corporate Finance LLP (Nominated Adviser)

Richard Morrison / Adam Cowl

 

Tel: +44 (0) 20 3470 0470

SP Angel Corporate Finance LLP (Broker)

Grant Barker

Rob Rees

 

Tel: +44 (0) 20 3470 0471

Tel: +44 (0) 20 3470 0535

Shard Capital Partners LLP (Broker)

Isabella Pierre / Damon Heath

 

Tel: +44 (0) 20 7186 9927

Yellow Jersey PR (Financial PR & IR)

Charles Goodwin / Henry Wilkinson

Tel: +44 (0) 20 3004 9512

E-mail: altus@yellowjerseypr.com

About Altus Strategies Plc
Altus Strategies (AIM: ALS, TSX-V: ALTS & OTCQX: ALTUF) is a mining royalty company generating a diversified and precious metal focused portfolio of assets. The Company’s differentiated approach of generating royalties on its own discoveries in Africa and acquiring royalties globally through financings and acquisitions with third parties, has attracted key institutional investor backing. The Company engages constructively with all stakeholders, working diligently to minimise its environmental impact and to promote positive economic and social outcomes in the communities where it operates. For further information, please visit www.altus-strategies.com.

TSX Venture Exchange Disclaimer
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organisation of Canada accepts responsibility for the adequacy or accuracy of this release.

Market Abuse Regulation Disclosure
This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with the Company's obligations under Article 17 of MAR. Upon publication of this announcement, the inside information is now considered to be in the public domain for the purposes of MAR.

 

**END**


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