Grant of share options

RNS Number : 1952J

Hummingbird Resources PLC

27 June 2011

 



Hummingbird Resources plc

("Hummingbird" or the "Company" or the "Group")

(AIM: HUM)

Grant of share options

The Company is pleased to announce that on 27 June 2011, 1,023,000 options over ordinary shares of 1p each in the Company were granted to certain directors, group employees and consultants.  These share options are exercisable at 125p per share  (being the average share price over the last 5 days) and amount to 1.92% of the issued share capital in total. The share options vest in two tranches over a 24 month period assuming certain performance criteria are met in accordance with our policy of retaining and motivating key staff.

Of the options detailed above, the following were awarded to directors of the Company:

Name                                                                   Options granted

Daniel Betts                                                       84,000

William Cook                                                    77,000

David Pelham                                                   65,000

Ian Cockerill                                                      40,000

Stephen Betts                                                    33,000

Roderick Smith                                                33,000

Matthew Idiens                                                33,000
                                                                                ___________

Total granted to directors                     365,000

Granted to non directors                       658,000

                                                                                ___________

TOTAL GRANTED                                        1,023,000

                                                                                ___________

The total number of ordinary shares currently in issue is 53,355,565, with options over a total of 4,533,000 ordinary shares outstanding.

Enquiries:

Hummingbird Resources plc

Daniel Betts, Chief Executive Officer

Thomas Hill, Chief Financial Officer and Company Secretary [phone]

Liberum Capital Limited

Nominated Adviser and Joint Broker

Tom Fyson / Richard Bootle [phone]

Mirabaud Securities LLP

Joint Broker

Peter Krens [phone]

Threadneedle Communications Limited

Laurence Read /Beth Harris [phone]

Notes to Editors

Hummingbird Resources plc is an AIM quoted mineral exploration company incorporated in England and Wales and headquartered in London. Since its establishment in November 2005, the Group has been active in Liberia, West Africa, and is currently the holder of the largest area of mineral exploration ground in the highly prospective Birimian geological region of eastern Liberia. The Group's licences are prospective for gold, iron ore and other minerals.

The Group currently holds exploration licences covering approximately 7,000 square kilometres in total, which constitutes a significant proportion of eastern Liberia containing the Birimian sequence.

The Group's most advanced gold exploration has taken place in the Dugbe, Zia and Jababli licence areas, with Dugbe Block F with a recently confirmed gold resource of 20.90 million tonnes at 1.208 g/t to give 812,000 oz Au using a cutoff grade of 0.5 g/t. The exploration has been based on sound geological premises and has been executed in an efficient and practical manner according to best industry practices.

For more information, please visit www.hummingbirdresources.co.uk

 

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