Grant of Options

RNS Number : 3727E

Aurum Mining PLC

06 April 2011

 

AURUM MINING PLC

("Aurum" or "the Company")

6 April 2011

Granting of stock options

The Company announces that it has today granted 3.95 million incentive stock options to the Directors of the Company conditional upon the successful completion of the placing of new ordinary shares in the Company as announced earlier today (the "Placing"). The options would represent approximately 3.34 per cent. of the share capital of the Company as enlarged pursuant to the Placing. The exercise price of the options will be the higher of: (i) the mid-market closing price of the Company's ordinary shares of 1p each on the business day immediately prior to the admission to AIM of the placing shares; and (ii) the placing price, being 3p per share. The options will be exercisable for a period of five years from completion of the Placing. Other than in respect of the proposed options, there are no other existing options or warrants outstanding.

If granted, the allocation of stock options to Directors will be as follows:

Name	Position	New options issued	Total options held on issue of new options
Sean Finlay	Chairman	650,000	650,000
Christopher Eadie	CEO	2,000,000	2,000,000
Mark Jones	Director	650,000	650,000
Haresh Kanabar	Director	650,000	650,000

Contact details:

Aurum Mining plc	Tel: [phone]
Chris Eadie, Chief Executive Officer
Fairfax I.S. PLC	Tel: [phone]
Ewan Leggat / Laura Littley

 

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