Grant and exercise of options

RNS Number : 0032K

Landore Resources Limited

07 July 2011

 



Landore Resources Limited

("Landore" or "the Company")

Grant and exercise of options

On 5 July 2011 the Company's Remuneration Committee approved the grant of options over 8,600,000 ordinary shares of 1p each (each an "Ordinary Share") to Directors and certain employees under stand alone option deeds.

The following option grants to Directors were made:

Director	Options granted	Options held following this notification
William Humphries	4,000,000	13,000,000
Richard Prickett	2,500,000	7,500,000
Charles Wilkinson	250,000	750,000
Helen Green	250,000	250,000

The options are exercisable (in whole or in part) at any time up to the fifth anniversary of the date of grant and are exercisable at a price of 16.12p per Ordinary Share.

At the meeting it was also resolved that the expiry date of share options over 1,000,000 Ordinary Shares granted to Richard Prickett, which are due to expire on 19 September 2011, be extended for a further two years.

In addition, following the exercise of share options application will be made for the admission of 500,000 ordinary shares of 1p each in the Company ("New Ordinary Shares") to trading on AIM.  The New Ordinary Shares will rank pari passu with existing ordinary shares and it is expected that admission will occur at 8.00 a.m. on 13 July 2011.

Following admission of the New Ordinary Shares, the total number of voting rights in the Company's ordinary shares will be 263,710,325.

Enquiries:

Bill Humphries/Richard Prickett

Landore Resources Limited

Tel: [phone]

Simon Raggett / Angela Peace

Strand Hanson Limited

Tel: [phone]

 

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