Grant of Options to Directors

RNS Number : 7761S

Iofina PLC

12 November 2013

 



12 November 2013

Iofina plc

("Iofina" or the "Company")

(LSE AIM: IOF)

Grant of Options to Directors

Iofina, specialists in the exploration and production of iodine and iodine specialty chemical derivatives, announces that the Board has ratified and approved the grant of options, for nil consideration, to the following Directors:

Gary Gatchell - 300,000 options with an exercise price per share of £1.46, being the closing share price on the day Mr Gatchell joined the Company, with 33.3% of such options vested at grant date, and 33.3% to vest at each of 3 September 2014 and 3 September 2015.

George Lantz - 250,000 options with an exercise price per share of £1.51, being the closing share price on the day Mr Lantz joined the Company, with 33.3% of such options vested at grant date, and 33.3% to vest at each of 19 September 2014 at 19 September 2015.

Christopher Fay - 250,000 options with an exercise price per share of £1.63, being the closing share price on the grant date, with 100% of such options vested at grant date.

Following the grant of options the revised holdings of the Directors mentioned above are set out below:

Director	Number of Shares	% of issued share capital	Number of Shares Under Option	Exercise Price
George Lantz (CEO)	26,433	0.02	250,000	151p
Gary Gatchell (Finance Director)	-	-	300,000	146p
Christopher Fay (Non-Executive Chairman)	1,250,000	0.98	100,000 250,000 250,000	55p 30p 163p

Following the grant of options as detailed above, the total number of vested and unvested options outstanding as of 12 November 2013 is 2,610,000 representing approximately 2.05% of the current issued share capital. As of 12 November 2013, there are 127,284,398 ordinary shares in issue.

For further information, please contact:

George Lantz, CEO
Tel: [phone]
Simon Holden, Company Secretary
Tel: [phone]

Iofina plc
www.iofina.com 

Ben Colegrave/Chris Sim/James Rudd

Investec

Tel: [phone]

Media Contact:

Dominic Barretto/Anna Legge

Yellow Jersey PR Limited

Tel: [phone]

About Iofina

Iofina specializes in the exploration and production of iodine, iodine specialty chemical derivatives, produced water and natural gas. Iofina's business strategy is to identify, develop, build, own and operate iodine extraction plants currently focused in North America based on Iofina's WET® IOsorb™ technology. Iofina has iodine production operations in the United States, specifically in Texas, California, Montana, Oklahoma and Wyoming. The Group has complete vertical integration from the production of iodine in the field to the manufacture of the chemical end products derived from iodine to the consumer and the recycling of iodine using iodinated side-streams from waste chemical processes in Europe, North America and Asia. The Group utilizes its portfolio of patented and patent pending technology, proprietary methods and trademarks throughout all business lines.

 

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