Options exercised by December 20218 Dec 2016 17:04
Avesoro Resources has granted 95,500,000 ordinary share options to directors and employees.
The options have an exercise price of 1.575p per share - the closing price of the common shares on 6 December.
Half the options vest and become exercisable on the first anniversary of grant and the other 50% on the second anniversary of grant, except for those granted to the non-executive directors, which vest and become exercisable as to 50% on grant and 50% on the first anniversary of grant.
The options issued are capable of being exercised up to 6 December 2021.
Chief executive Serhan Umurhan and chief financial officer Geoff Eyre were granted 20 million and 16.5 million options respectively while non-executive directors David Netherway, Jean-Guy Martin and Loudon Owen were each granted 5.5 million.