Grant of Options

RNS Number : 0841F

Amur Minerals Corporation

18 April 2011

 



18 April 2011

Amur Minerals Corporation

(AIM: AMC)

Options Awarded to Executives and Directors

Amur Minerals Corporation ("Amur" or the "Company"), an exploration and development company focused on Far East Russia, announces that it has awarded options to key executives and directors.  A total of 10.6 million shares have been granted of which one third vest immediately, one third in six months and the final one third in one year.  These newly awarded options will expire in April 2016.  The strike price of the options is 12.675 GBP pence, a premium of 13% above the last closing mid-market price of the Company's shares on AIM.  The distribution of these options is provided below.

Optionee	Allotment	Total Options following this grant
Key Employees	3,000,000	3,500,000
Robin Young - Chief Executive Officer	3,600,000	4,086,000
Robert Schafer - Chairman	2,400,000	2,454,000
Brian Savage - Non Executive Director	1,600,000	1,600,000
Total	10,600,000	11,640,000

The addition of these options brings the total number of shares under option to 13.847 million shares, representing 4.74% of the Company on a fully diluted basis.  Of the total shares under option and not reported in the above table, 1.775 million are held by Fox Davies Capital (previous broker) with the remaining 432,000 held by former directors and executives.

The Remuneration Committee and Board of Directors have granted these options at this time as the Company in not in a Close Period and to incentivise and to recognise the commitment of key staff and Executive Management who have received no salary increase for over 30 months (in some cases declining payment of up to 40% of salary) and for the Non-Executive Directors, whose remuneration has remained unchanged since Admission to AIM in 2006.

Enquiries:

Company Amur Minerals Corp.	Nomad and Joint Broker RBC Capital Markets	Joint Broker Hybridan LLP	Public Relations Lothbury Financial Services
Robin Young	Martin Eales	Claire Noyce	Michael Padley
[phone]	[phone]	[phone]	[phone]

Notes to Editors

For further information about Amur, please visit the Company's website at www.amurminerals.com.

 

END

 

 

RDSLIFITSRITLIL