8 Jul 2011 11:41
Kryso Resources plc
(`Kryso' or `the Company')
AIM: KYS
Issue of Incentive Options
Kryso Resources plc announces that its Remuneration Committee has awarded a total of 3,400,000 options to the recently appointed directors and senior employees of the Company to purchase new ordinary shares of 1 pence each at an exercise price of 16.25 pence per share.
The options are granted as follows:
(A) Directors options
Mr Luo Tao: 600,000
Mr Weili Tang (David): 600,000
Mr Li Li (Leonard): 600,000
(B) Employee options
Total employee options: 1,600,000
The options have been awarded as at 8 July 2011 and have been issued to incentivise and retain key management and directors of the Company.
The options have been granted in accordance with the rules of the Kryso Resources plc Unapproved Share Option Scheme, and may be exercised after twelve months, and expire after four years.
The Directors' total holding of options are now as follows:
| Exercise Price | Options | ||||||||||
| Luo Tao | 16.25p | 600,000 | |||||||||
| Weili Tang (David) | 16.25p | 600,000 | |||||||||
| Li Li (Leonard) | 16.25p | 600,000 | |||||||||
| Craig Brown | 10p | 800,000 | |||||||||
| Abuali Ismatov | 10p | 800,000 |
For further information please visit the Company's website (www.kryso.com) or contact:
| Kryso Resources PLC | |||
| Dr Trevor Davenport/Craig Brown | Tel: +44 (0)20 7371 0600 | ||
| Anthony Schindler, Investor Relations | Mobile: 07710 178 928 | ||
| Evolution Securities | |||
| Jeremy Ellis/Romil Patel | Tel:+44 (0)20 7071 4300 | ||
| Optiva Securities Limited | |||
| Christian Dennis/Jeremy King | Tel: +44 (0)20 3137 1902 | ||
| Walbrook PR | |||
| Bob Huxford | Tel: +44 (0)20 7933 8780 | ||
| Mobile: 07900 346 978 | |||
| Paul Cornelius | Tel: +44 (0)20 7933 8794 | ||
| Mobile: 07827 879 460 |
About the Pakrut Gold Project
The Pakrut gold project, of which Kryso has 100% ownership, is situated in Tajikistan approximately 112 km northeast of the capital city Dushanbe.
Pakrut has an estimated total Mineral Resource of 3,578,000 oz Au (assuming a cut-off grade of 0.0g/t Au) and is located within the Tien Shan gold belt, which extends from Uzbekistan into Tajikistan, Kyrgyzstan and western China, and which hosts a number of multi-million ounce gold deposits.
Drilling at Pakrut has previously returned numerous encouraging intersections, including the following results released in March 2011:
Ore Zone 1: 21m (\* TW-15.3m) at 7.28 g/t, 24m (TW-17.98m) at 5.39 g/t and 16.5m (TW-12.36m) at 5.57 g/t Au Ore Zone 2: 30m (TW-22.62m) at 4.37 g/t and 42.9m (TW-32.89m)at 2.57 g/t Au Ore Zone 3: 16.5m (TW-13.28m) at 4.48 g/t and 6m (TW-4.92m) at 6.58 g/t Au Ore Zone 6: 4.5m (TW-3.44m) at 18.2 g/t\* TW - True width / true thickness of ore zone
About Tajikistan
Tajikistan is a secular republic located in Central Asia. The country is a member of the Commonwealth of Independent States (CIS) and the Shanghai Cooperation Organisation. Tajikistan hosts numerous operating precious metal mines as well as the largest aluminium smelter in Central Asia. Kryso's management team has extensive experience in the mining industry in Tajikistan.
Copyright Business Wire 2011