30 Sep 2014 09:04
BlueRock Diamonds plc
Amendment to existing options for Executive Directors
30 September 2014
Following the announcement of our fundraising announced earlier today, we have pleasure in announcing changes to the terms of the options which were granted to our CEO, Riaan Visser and our CTO, John Kilham, on 19 August 2013, immediately prior to our admission to AIM. The terms of the options for all of the other directors remain unchanged.
In recognition of the work completed to date and the fact that neither Riaan Visser nor John Kilham are being paid market salaries, on 30 September 2014, the Board has decided to amend the conversion terms of the options granted to Riaan Visser and John Kilham, such that the option exercise prices have been reduced to 14 pence (Tranche 1), 22 pence (Tranche 2) and 40 pence (Tranche 3). No other changes have been made to the terms of the option. The amendments will take effect immediately.
Following the amendments outlined above, the terms of the options granted to the Directors will be as follows:
Director | Number of Ordinary Shares subject to Share Options | Tranche 1 | Tranche 2 | Tranche 3 |
| |||
Number | Exercise Price (pence) | Number | Exercise Price (pence) | Number | Exercise Price (pence) | |||
P. Beck | 472,876 | 157,625 | 18 | 157,625 | 40 | 157,626 | 55 | |
J. Kilham | 472,876 | 157,625 | 14 | 157,625 | 22 | 157,626 | 40 | |
T. Leslie | 472,876 | 157,625 | 18 | 157,625 | 40 | 157,626 | 55 | |
A. Markgraaff | 472,876 | 157,625 | 18 | 157,625 | 40 | 157,626 | 55 | |
J. Quirk | 945,750 | 315,250 | 18 | 315,250 | 40 | 315,250 | 55 | |
R. Visser | 1,891,502 | 630,500 | 14 | 630,501 | 22 | 630,501 | 40 | |
Total | 4,728,756 | 1,576,250 | - | 1,576,251 | - | 1,576,255 | - | |
Enquiries:
BlueRock Diamonds plc
Riaan Visser, CEO
www.bluerockdiamonds.co.uk
+27 (0) 84 431 0118
SP Angel Corporate Finance LLP
Nominated Adviser & Broker
David Facey / Katy Birkin / Liz Yong
+44 (0) 20 3463 2260