Grant of Options

RNS Number : 8901J

Strategic Minerals PLC

10 April 2015

 



10 April 2015

Strategic Minerals plc

("Strategic Minerals" or the "Company")

Grant of Options

Strategic Minerals plc (AIM: SML; USOTC: SMCDY), the diversified commodity producer and project developer, announces that it has today issued 62,000,000 options over the Company's ordinary shares ("Options") under its Enterprise Management Incentive Scheme ("EMI Scheme").

The following Options have been approved by the Board of Strategic Minerals for issuance under the EMI Scheme to certain directors, executives and employees of the Company, exercisable at 1p per share.  The Options will vest in two equal tranches upon a volume weighted average price ("VWAP") per ordinary share over five consecutive trading days on AIM of either 1.5 pence or 3 pence, as provided below:

Director	Options Granted	Exercise Price	Vesting Condition	Expiry Date
John Peters, Managing Director	12,000,000 12,000,000	1 pence	1.5 pence VWAP 3.0 pence VWAP	30 June 2018 30 June 2019
Julien McInally, Chief Financial Officer	12,000,000 12,000,000	1 pence	1.5 pence VWAP 3.0 pence VWAP	30 June 2018 30 June 2019
Lyle Hobbs, Non-Executive Director	2,000,000 2,000,000	1 pence	1.5 pence VWAP 3.0 pence VWAP	30 June 2018 30 June 2019
Michael Wong, Non-Executive Director	2,000,000 2,000,000	1 pence	1.5 pence VWAP 3.0 pence VWAP	30 June 2018 30 June 2019
Employees	3,000,000 3,000,000	1 pence	1.5 pence VWAP 3.0 pence VWAP	30 June 2018 30 June 2019
Total	62,000,000

Each Option is exercisable into one ordinary share of 0.1p each in the Company. Once vested, the Options may be exercised at any time up until their expiry date. The Options represent 8.6% of the Company's current issued share capital. Shares issued through the exercise of these Options will have trading restrictions whereby 25% of the Options exercised can be traded immediately after exercise and a further 25% can be traded each three months thereafter until all shares are eligible to be traded.

10,000,000 options previously issued to employees have been cancelled and therefore, following the grant of Options outlined above, there are a total of 70,421,416 share options outstanding over the Company's ordinary shares, representing 9.7 % of the Company's current issued share capital.

For further information, please contact:

Strategic Minerals plc John Peters Chairman and CEO	[phone]
Allenby Capital Limited Nominated Adviser and broker Jeremy Porter James Reeve	[phone]
Tavistock Communications Financial PR Jos Simson Nuala Gallagher	[phone]

 

END

 

 

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