18 Apr 2011 09:15
18 April 2011
Amur Minerals Corporation
(AIM: AMC)
Options Awarded to Executives and Directors
Amur Minerals Corporation ("Amur" or the "Company"), an exploration and development company focused on Far East Russia, announces that it has awarded options to key executives and directors. A total of 10.6 million shares have been granted of which one third vest immediately, one third in six months and the final one third in one year. These newly awarded options will expire in April 2016. The strike price of the options is 12.675 GBP pence, a premium of 13% above the last closing mid-market price of the Company's shares on AIM. The distribution of these options is provided below.
Optionee | Allotment
| Total Options following this grant |
Key Employees | 3,000,000 | 3,500,000 |
Robin Young - Chief Executive Officer | 3,600,000 | 4,086,000 |
Robert Schafer - Chairman | 2,400,000 | 2,454,000 |
Brian Savage - Non Executive Director | 1,600,000 | 1,600,000 |
Total | 10,600,000 | 11,640,000 |
The addition of these options brings the total number of shares under option to 13.847 million shares, representing 4.74% of the Company on a fully diluted basis. Of the total shares under option and not reported in the above table, 1.775 million are held by Fox Davies Capital (previous broker) with the remaining 432,000 held by former directors and executives.
The Remuneration Committee and Board of Directors have granted these options at this time as the Company in not in a Close Period and to incentivise and to recognise the commitment of key staff and Executive Management who have received no salary increase for over 30 months (in some cases declining payment of up to 40% of salary) and for the Non-Executive Directors, whose remuneration has remained unchanged since Admission to AIM in 2006.
Enquiries:
Company Amur Minerals Corp. | Nomad and Joint Broker RBC Capital Markets | Joint Broker Hybridan LLP | Public Relations Lothbury Financial Services |
Robin Young | Martin Eales | Claire Noyce | Michael Padley |
+44 (0) 7981 126 818 | +44 (0) 20 7029 7881 | +44 (0) 20 7947 4350 | +44 (0) 20 7868 2010 |
Notes to Editors
For further information about Amur, please visit the Company's website at www.amurminerals.com.