Approval of share option plan and grant of options

6 February 2017

Related 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 DirectorNumber of options
A. J. Williams2,500,000
J. T. Williams2,500,000
Total5,000,000

Messrs A.J Williams and J.T. Williams have the following interests in Common Shares:

DirectorNo. Common Shares% of issued capital
A. J. Williams1,688,7020.92%
J. T. Williams1,500,0000.82%
DirectorNo. Share WarrantsExercise PriceExpiry Date
A. J. Williams1,688,702£0.01527 February 2019
J. T. Williams1,000,000£0.01527 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:

DirectorNo. OptionsExercise PriceExpiry Date
A. J. Williams200,000
2,500,000
£0.70
£0.01
29 May 20182
February 2022
J. T. Williams200,000
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
OROR
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