15 Nov 2013 07:00
15 November 2013
Beacon Hill Resources Plc / AIM: BHR / ASX: BHU / Sector: Mining
Beacon Hill Resources Plc ('Beacon Hill or 'the Company')
Granting of options to Senior Independent Non-Executive Director
Beacon Hill Resources plc, the AIM and ASX listed coal producer, announces the Board intends to seek Shareholder approval pursuant to ASX Listing Rule 10.14 at the General Meeting to be held on 4 December 2013 of the grant of certain Options as set out below to Murray d'Almeida, Senior Independent Non-Executive Director in lieu of his annual Director's fee.
Current Options held | Proposed number of Options to be granted | Number of Options held following the grant | Exercise period of new Options | Exercise price of new Options |
11,200,000 | 4,301,075 | 15,501,075 | Date of grant to 6th anniversary of date of grant | 0.25 pence per Ordinary Share |
The 4,301,075 Options to be granted to Mr d'Almeida represent approximately 0.25 per cent of the current issued share capital of the Company.
It has been agreed with Mr d'Almeida that, conditional upon Shareholder approval, such Options will be granted to him in lieu of his annual fee of £40,000 for the next year and with effect from 1 December 2013, and, subject to him continuing to be engaged as a director of the Company, on an annual basis he will be granted further Options over Ordinary Shares in lieu of and to the value of his annual fee at the prevailing market price of the Ordinary Shares at the time of grant, and with an exercise price equal to the nominal value of the Ordinary Shares and an exercise period of six years, with this arrangement to remain for the next year or until such time as the Company is profitable.
For further information, please contact: |
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Beacon Hill Resources Plc |
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Justin Farr-Jones, Chairman (jfarr-jones@bhrplc.com) Rowan Karstel, Managing Director (rowan.karstel@bhrplc.com) | + 44 1372 464 549 |
Canaccord Genuity Limited |
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Neil Elliot / Joe Weaving | +44 20 7523 8000 |