Documents
Arian Silver Corporation (“Arian Silver” or the “Company”) announces that upon the recommendation of the Company’s Nomination & Remuneration Committee, a share option plan was adopted on 3 February 2017 (the “Share Option Plan”) to succeed the Company’s existing stock option plan (the “Prior Stock Option Plan”). The Share Option Plan provides for the award of options over the Company’s common shares of no par value (“Common Shares”) including HMRC-approved Enterprise Management Incentive (“EMI”) share options.
The implementation of this Share Option Plan is intended to align the interests of directors and eligible employees with shareholders, and to help attract talent in the future as the Company progresses the systematic exploration of its concessions and looks to develop new opportunities for growth.
The Prior Stock Option Plan was approved by the Board in May 2012 over 10% of the issued share capital at that time. No further grants will be made under the Prior Stock Option Plan. Under the Share Option Plan, up to 10% of the Company’s issued share capital at any time is reserved for issuance, such limit taking into account any residual share options subsisting under the previous stock option plan.
Grant of Share Options
Following the implementation of the Share Option Plan, the Nomination & Remuneration Committee has approved the discretionary grant of EMI share options to directors and employees over 6,250,000 Common Shares, exercisable at a price of £0.01 until 2 February 2022 and vesting immediately.
The grant of options includes awards made to the following directors:
| Name of Director | Number of options |
| A. J. Williams | 2,500,000 |
| J. T. Williams | 2,500,000 |
| Total | 5,000,000 |
Messrs A.J Williams and J.T. Williams have the following interests in Common Shares:
| Director | No. Common Shares | % of issued capital |
| A. J. Williams | 1,688,702 | 0.92% |
| J. T. Williams | 1,500,000 | 0.82% |
| Director | No. Share Warrants | Exercise Price | Expiry Date |
| A. J. Williams | 1,688,702 | £0.015 | 27 February 2019 |
| J. T. Williams | 1,000,000 | £0.015 | 27 February 2019 |
Following the grant of share options, Messrs A.J Williams and J.T. Williams have the following interests in share options in the Company:
| Director | No. Options | Exercise Price | Expiry Date |
| A. J. Williams | 200,000 2,500,000 | £0.70 £0.01 | 29 May 20182 February 2022 |
| J. T. Williams | 200,000 2,500,000 | £0.70 £0.01 | 29 May 2018 2 February 2022 |
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014.
For further information please contact:
| Arian Silver Corporation Jim Williams, CEO David Taylor, Company Secretary Tel: +44 (0)20 7887 6599 | Northland Capital Partners Limited Gerry Beaney / David Hignell Tel: +44 (0)203 861 6625 |
| OR | OR |
| Beaufort Securities Limited Jon Belliss Tel: +44 (0)20 7382 8300 | Yellow Jersey PR Limited Charles Goodwin / Dominic Barretto Tel: +44 (0)7768 537 739 |