Issue of Shares under Share Incentive Plan

RNS Number : 5261J

Regency Mines PLC

08 August 2012

 



Regency Mines Plc

Issue of Shares under Share Incentive Plan

8 August 2012

Regency Mines Plc ("Regency" or the "Company"), the mining exploration and mineral investment company with interests in nickel and other minerals in Western Australia, Queensland, Papua New Guinea and Pakistan, confirms that, on 7 August 2012, the Board of Directors approved the issue of 6,728,959 ordinary shares in the Company ("Ordinary Shares") under the Company's Share Incentive Plan ("SIP") Free Shares for the 2012/13 tax year as agreed by the Trustees on 6 August 2012.

Under the Free Share agreement, employees (including the Directors), who have worked for the Company for three months, may be awarded up to £3,000 worth of Ordinary Shares in the Company in any one tax year. Accordingly, 6,728,959 Free Shares have been awarded with reference to the closing mid-market price of 1.07p on 03 August 2012.

Free shares will be held by the SIP Trustees and they cannot be released to participants until five years after the date of allotment, except in specific circumstances.

Additionally, set out below is the Directors' participation in the SIP Free Shares for the 2012/13 tax year.

Directors' Participation

In respect of the 2012/2013 tax year, the Directors' participation in the SIP Free Shares is set out below:

Director	Number of Free Shares Awarded	Number of Ordinary Shares held following the grant	% of issued Share Capital following the grant
Andrew Bell	280,373	2,066,666	0.28%
Edmund Bugnosen	280,373	666,664	0.09%
Scott Kaintz	280,373	466,664	0.06%
Julian Lee	280,373	1,290,664	0.18%
John Watkins	280,373	4,136,168	0.56%

Andrew Bell, Chairman, states: "Successive governments have promoted SIPs and the concept of wider share ownership. Few companies have risen to the challenge of creating employee share ownership schemes because of the effort needed to set them up. We are confident that remunerating employees in this way will increase their long term commitment to the success of the business and help us build a better company".

Admission to trading on AIM and Total Voting Rights

Application is being made to AIM for 6,728,959 new Ordinary Shares allotted in relation to the SIP for 2012/13 tax year to be admitted to trading on AIM. Admission of the 6,728,959 new Ordinary Shares is expected on 13 August 2012.

Following the issue of the 6,728,959 new Ordinary Shares, the issued share capital of the Company consists of 734,413,168 ordinary shares of 0.1p each with voting rights. No Ordinary Shares are held in treasury.

The above figure of 734,413,168 may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in the Company under the FSA's Disclosure and Transparency Rules.

Enquiries:

Andrew Bell	020 7402 4580 or    07766 474849	Regency Mines plc	Chairman
Sandra Spencer	020 7402 4580 or 07757 660 798	Regency Mines plc	Public and Investor Relations
Gerry Beaney/ Daniela Amihood	020 7383 5100	Grant Thornton              Corporate Finance	Nominated Adviser
Nick Emerson	01483 413500	Simple Investments Ltd	Broker

 

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