Issue of Shares under Share Incentive Plan

RNS Number : 2351W

Regency Mines PLC

23 December 2013

 



Regency Mines Plc

("Regency" or the "Company")

Issue of Shares under Share Incentive Plan and Directors' Dealings

23 December 2013

Regency Mines Plc ("Regency" or the "Company"), the mining exploration and mineral investment company with interests in nickel and other minerals in Australia, Papua New Guinea and Sudan, confirms that, on 23 December 2013, the Board of Directors approved the issue of 11,489,346 ordinary shares of 0.1p each in the Company ("Ordinary Shares") under the Company's Share Incentive Plan ("SIP") Free Shares for the 2013/14 tax year as agreed by the Trustees on 10 December 2013.

Under the SIP, employees (including 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, 11,489,346 Free Shares have been awarded by reference to the closing mid-market price of 0.47p on 09 December 2013.

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 2013/14 tax year.

Directors' interests

The Directors' holdings following issue of the 11,489,346 free shares are set out below:

Director	Number of Free Shares Awarded	Ordinary Shares in the Company		% of Issued Share Capital Following the Grant
		Direct	Indirect*	Total
Andrew R M Bell	638,297	18,847,914	18,990,435	37,838,349	3.10%
Edmund Sr Bugnosen	638,297	200,000	2,042,831	2,242,831	0.18%
Scott C Kaintz	638,297	421,053	2,042,831	2,463,884	0.20%
Julian M E Lee		-	7,650,688	7,650,688	0.63%
John Watkins	638,297	4,150,000	2,042,831	6,192,831	0.51%

* Each Director indirectly holds 2,042,831 shares held by the Share Incentive Plan Trustees. In addition, Julian M E Lee has 5,607,857 shares held by HSBC Global Custody Nominee (UK) Limited and Andrew R M Bell has 16,309,307 shares held by Brewin 1762 Nominees Limited.

Admission to trading on AIM and Total Voting Rights

Application is being made to AIM for 11,489,346 new Ordinary Shares allotted in relation to the SIP for 2013/14 tax year to be admitted to trading on AIM. Admission of the 11,489,346 new Ordinary Shares is expected on 06 January 2014.

Following the issue of the 11,489,346 new Ordinary Shares, the issued share capital of the Company consists of 1,222,539,229 ordinary shares of 0.1p each with voting rights. No Ordinary Shares are held in treasury.

The above figure of 1,222,539,229 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 7747 9960 or 07766 474849	Chairman Regency Mines plc
Colin Aaronson/David Hignell 020 7383 5100	NOMAD Grant Thornton UK LLP
Nick Emerson 01483 413500 Guy Wheatley 02073828416 Rupert Trefgarne 02031288817	Broker SI Capital Ltd Joint Broker Beaufort Securities Ltd Media Relations MHP Communications

 

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