Option Surrender and Issue of Replacement Options

Path Investments plc (TIDM: PATH), the energy and natural resources investment company, announces that Christopher Theis, Chief Executive Officer and Andrew Yeo, formerly Chief Operating Officer, of Path, have today surrendered the following options in the Company, granted to them on 30 March 2017:


Number of ordinary shares subject to optionExercise priceExpiry date
Christopher Theis20,000,000£0.00130 March 2027
Christopher Theis16,000,000£0.0130 March 2027
Christopher Theis6,500,000£0.0230 March 2027
Andrew Yeo8,500,000£0.00130 March 2027
Andrew Yeo6,500,000£0.0130 March 2027
Andrew Yeo2,875,000£0.0230 March 2027

The following options to acquire ordinary shares in Path have today been issued to Christopher Theis and Andrew Yeo:


Number of ordinary shares subject to optionExercise priceExpiry date
Christopher Theis42,500,000£0.0018 October 2030
Andrew Yeo17,875,000£0.0018 October 2030

This surrender and reissue of an equivalent amount of options marks the first action in a series of events that the directors have planned, to streamline the company’s capital structure ahead of the proposed readmission and acquisition of DTU.

Further details on the lapse and grant to Christopher Theis are included in the notifications below, made in accordance with the requirements of the EU Market Abuse Regulation.

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014

For further information please contact:

Path Investments plcC/O IFC
Christopher Theis


IFC Advisory Limited (Financial PR & IR)020 3934 6630
Tim Metcalfe
Zach Cohen


Grant Thornton UK LLP (Financial Adviser)
Samantha Harrison020 7865 2411
Harrison Clarke020 7184 4384


Keith, Bayley, Rogers & Co. Limited (Broker)
Brinsley Holman07776 30 22 28
Graham Atthill-Beck07506 43 41 07