6 Jul 2010 09:49
06 July 2010 CLF/TSX: CFG
Cluff Gold plc
("Cluff Gold" or the "Company")
GRANT OF OPTIONS TO DIRECTORS
Cluff Gold, the dual AIM/TSX listed West African-focused gold mining company, announces that yesterday, pursuant to its employee share scheme, it granted options ("Options") to the Directors and certain employees of the Company. The Options were granted over a total of 2,700,000 ordinary shares of 1p each ("Ordinary Shares"), representing approximately 2.19% of the current issued share capital of the Company at an exercise price of 71.75p, being equal to the closing price of the Ordinary Shares on 2 July 2010 (being the latest practical date prior to the grant of the Options), exercisable at any time between the third and the tenth anniversary from yesterday's date.
The allocation of Options to Directors is as follows:
| Name | Title | Number of Options | Total number of Options following grant | Current Shareholding in Cluff Gold | Percentage of Current Issued Share Capital |
| Mr JG Cluff | Chairman and Chief Executive | 1,000,000 | 1,850,000 | 1,870,000 | 1.52 |
| Mr Pete Gardner | Finance Director | 350,000 | 500,000 | - | - |
| Mr Douglas Chikohora | Technical Director | 200,000 | 700,000 | 538,409 | 0.44 |
| Mr Peter Spivey | Chief Operating Officer | 200,000 | 500,000 | - | - |
The Options were issued for nil consideration.
For further information, please contact:
| Cluff Gold plc J.G. Cluff - Chairman and Chief Executive Catherine Apthorpe - Commercial Manager Tel: +44 (0) 20 7340 9790 | Evolution Securities Limited Rob Collins Tim Redfern Tel: +44 (0) 20 7071 4300 |
| Pelham Bell Pottinger
Investor Relations (Global) Charles Vivian Klara Kaczmarek Tel: +44 (0) 20 7861 3232 | Farm Street Communications Ltd
Press Relations (U.K.) Simon Robinson +44 (0) 7593 340 107 simon.robinson@farmstreetmedia.com |
NO REGULATORY AUTHORITY HAS APPROVED OR DISAPPROVED THE CONTENT OF THIS PRESS RELEASE.