Last checked at 12 May 2016 13:55
12 May 2016
Ortac Resources Limited ('Ortac' or 'the Company')
Issue of Share Options
Ortac Resources Ltd, the AIM listed exploration and resource development company, has on the basis of the recommendation of its Remuneration Committee, resolved to grant options over 150,000,000 ordinary shares of no par value in the Company ("Shares") to Directors and senior management.
The new share options represent 2.61% of the current issued share capital of the Company and, when aggregated with the outstanding share options granted by the Company, the total incentive share options represent 6.77% of the current issued share capital of Ortac. Directors of the Company were granted new share options, as follows:
Chief Executive Officer, Vassilios Carellas | 65,000,000 |
Executive Chairman, Anthony Balme | 50,000,000 |
Non-Executive Director, Paul Heber | 20,000,000 |
The new share options were issued today and are exercisable from 12 May 2016 until 12 May 2021 and have an exercise price of 0.05p per Share, which represents a premium of approximately 67% to the closing mid-market Share price on 11 May 2016.
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For additional information please visit - www.ortacresources.com
Ortac Resources Ltd Vassilios Carellas (CEO)
| +44 (0) 20 7389 9050 |
SP Angel (Nominated Adviser & Broker) Ewan Leggat / Tercel Moore
Beaufort Securities (Joint Broker) Jon Beliss / Elliot Hance | +44 (0) 20 3470 0470
+44 (0) 20 7382 8300 |
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Yellow Jersey PR (Media Relations) Dominic Barretto / Aidan Stanley | +44 (0) 7768 537 739 |