Sign In
31 Jan 2014 17:10
31 January 2014
African Minerals Limited ("Company")
Director Share Dealings and Share Options
The Company has received notice of the following purchases of common shares in the Company by Directors of the Company:
Director | Date of disclosure by Director | Date of dealing | No. of common shares acquired | Average price per share | Beneficial interest following this purchase:No. of common shares |
Bernard Pryor | 29 Jan 2014 | 29 Jan 2014 | 25,000 | 176.25p | 54,561 |
Dermot Coughlan | 30 Jan 2014 | 30 Jan 2014 | 50,000 | 172.75p | 100,000 |
Nina Shapiro | 30 Jan 2014 | 30 Jan 2014 | 19,869 | 169.5p | 104,429 |
The Company also announces that it has granted to directors of the Company options over common shares in the Company as set out below, at an exercise price of 209p.
Director | No. of common shares under option | Notes |
Bernard Pryor | 2,500,000 |
|
Ian Cockerill | 1,000,000 |
|
Roger Liddell | 300,000 |
|
Dermot Coughlan | 500,000 | 500,000 existing share options have been cancelled by mutual agreement |
Murray John | 500,000 | 500,000 existing share options have been cancelled by mutual agreement |
Nina Shapiro | 300,000 |
|
Cui Jurong | 300,000 |
|
Li Zhimin | 300,000 |
|
Matthew Hird | 500,000 | Matthew Hird is CFO though not a director of the Company |
The options are subject to the achievement of year on year share price growth of 10%. The options are divided into three equal instalments, and the first vesting date for each instalment is 4 October 2014, 2015 and 2016. The options must be exercised by 3 October 2018.
The Company has extended to 31 December 2016 the exercise period for existing share options granted to Frank Timis (over 5,000,000 common shares granted in February 2009) and Gibril Bangura (over 1,000,000 common shares granted in November 2004). These share options have vested and have an exercise price of 50p.
ENDS
Contacts:
African Minerals Limited
+44 20 3435 7600
Mike Jones
Tavistock Communications
+44 20 7920 3150
John West / Jos Simson / Nuala Gallagher
Jefferies
44 20 7029 8000
Nick Adams / Alex Collins
Follow the stocks
