Grant of Options

RNS Number : 2407G

Niger Uranium Limited

20 October 2008

 



For immediate release

20 October 2008

Niger Uranium Limited

('Niger Uranium' or 'the Company')

Grant of Options

The Company announces that on the recommendation of the Company's Remuneration Committee, the Company has granted options over 2,600,000 ordinary shares of US$0.01 each in the capital of the Company ('Ordinary Shares') to directors of the Company at an exercise price of 9 pence per Ordinary share. The closing mid-market price on 16 October 2008 was 8.5 pence. The directors to whom options have been granted are as follows:

• An option over 1,000,000 Ordinary Shares to John (Ian) Stalker, Chairman (total 2,580,000 Ordinary shares under option following this grant);

• An option over 1,000,000 Ordinary Shares to John Sanders, Chief Executive (total 1,100,000 Ordinary Shares under option following this grant);

• An option over 500,000 Ordinary Shares to Gordon Cassidy, Finance Director (total 1,000,000 Ordinary Shares under option following this grant);

• An option over 50,000 Ordinary Shares to Wayne Beach, Non-Executive Director (total 150,000 Ordinary Shares under option following this grant); and

• An option over 50,000 Ordinary Shares to John Lynch, Non-Executive Director (total 150,000 Ordinary Shares under option following this grant).

In addition, options over a further 957,000 Ordinary Shares have been granted to management, employees and consultants of the Company at an exercise price of 9 pence per Ordinary Share. 

The options granted above will vest to each option holder in three equal annual installments commencing on the date of grant and will expire unless exercised on or before 20 October 2018.

For further information:

Niger Uranium Limited Ian Stalker, Chairman	Tel: + 27 82 404 3637 Tel: [phone]
Beaumont Cornish Limited Roland Cornish / Michael Cornish	Tel: [phone]
Financial Dynamics Ben Brewerton Edward Westropp	Tel [phone]

ENDS

 

END

 

 

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