Grant of Options

RNS Number : 8311M

Sylvania Platinum Limited

30 August 2013

 



Sylvania Platinum Limited

 ("Sylvania" or "the Company")

 AIM (SLP)

GRANT OF OPTIONS

The Company announces that, on 29 August 2013, it granted 1,600,000 options over ordinary shares of $0.10 each in the Company under the Sylvania Platinum Option Plan (the "Plan"). This is in line with the Company's retention strategy and, following this transaction, a total of 14,600,000 options have been allocated under the Plan.

Details of the options allocated in this tranche to directors of the Company, including their total respective option holdings following the transaction, are as follows:

	Options Granted	Total options held following grant
Terry McConnachie	500,000	2,500,000
Roger Williams	200,000	700,000
Grant Button	100,000	1,100,000

The balance of 800,000 options were awarded to senior and operational management.

Pursuant to the terms of the Plan, the options granted have a nil exercise price and an expiry date of 29 August 2023.  Exercise of the options is subject to time-based vesting, with 20% of the options vesting on 29 August 2015, a further 40% of the options vesting on 29 August 2016 and the remaining 40% vesting on 29 August 2017 (subject to the participant's continued employment).

Ends

CORPORATE INFORMATION

Registered office:    Sylvania Platinum Limited

                                    Clarendon House

                                    2 Church Street

                                    Hamilton HM 11

                                    Bermuda

Postal address:         PO Box 976

                                    Florida Hills, 1716

                                    South Africa

Sylvania Website:     www.sylvaniaplatinum.com

CONTACT DETAILS

For further information, please contact:

Terence McConnachie (Chief Executive Officer)

[phone]

Nominated Advisor and Broker

Liberum Capital Limited

Michael Rawlinson/Tom Fyson/Christopher Kololian

[phone]

Communications

Newgate Threadneedle

Graham Herring

[phone]

 

END

 

 

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