Grant of Warrants

RNS Number : 2283W

Tertiary Minerals PLC

26 January 2012

 



Tertiary Minerals plc (or the "Company")

Grant of Warrants

26 January 2012

Tertiary Minerals plc (ticker symbol 'TYM') an AIM-quoted mineral exploration and development company building a significant strategic position in the fluorspar sector, announces that on 26 January 2012 it granted 2,700,000 warrants to employees and directors of the Company. The grants included the following directors:

Name	Number of warrants granted
Patrick Cheetham (Executive Chairman)	1,500,000
David Whitehead (Non-executive Director)	300,000
Donald McAlister (Non-executive Director)	300,000

Each warrant is convertible to one new ordinary share at the price of 9.75 pence per share (the closing mid-market price on 25 January 2012) at any time within 4 years from 26 January 2013.

As a result of this issue of warrants the total number of warrants currently held by each Director is as follows:

Patrick Cheetham :        7,000,000

David Whitehead :          1,000,000

Donald McAlister :         1,300,000

ENQUIRIES

Tertiary Minerals plc                                                                            Tel:  [phone]

Patrick Cheetham, Executive Chairman                                      

www.tertiaryminerals.com

Seymour Pierce Limited                                                                      Tel: [phone]

Stewart Dickson (Corporate Finance)

Jeremy Stephenson (Corporate Broking)                                     

Yellow Jersey PR Limited                                                                    Mobile: [phone]

Dominic Barretto

Note to Editors:

Tertiary Minerals plc (ticker symbol 'TYM') is an AIM-quoted mineral exploration and development company building a significant strategic position in the fluorspar sector. Fluorspar is an essential raw material in the chemical, steel and aluminium industries and Tertiary controls two significant Scandinavian projects (Storuman in Sweden and Lassedalen in Norway).

A European Commission report has named fluorspar as one of its 14 'critical mineral raw materials' for which a predicted supply shortage would represent a substantial economic threat. The fluorspar market is going through a 'paradigm shift' - with China evolving from a large net exporter to a potential net importer. Tertiary Minerals plc is one of a limited number of listed companies offering exposure to looming fluorspar market shortage.

The Company has diversified its risk with projects in a variety of commodities in Finland and Saudi Arabia. Shares in the Company trade on AIM.

For further information: www.tertiaryminerals.com

 

END

 

 

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