Last checked at 30 Dec 2008 10:53
30th December 2008
Condor Resources Plc
("Condor" or the "Company")
Grant of Options
Condor Resources Plc, the AIM quoted Central America gold and silver exploration company, announces that it granted in aggregate on 24th December 2008, 21,000,000 share options to directors and senior management under the existing share options scheme. These options are exercisable any time for a period of 5 years from the 24th December 2008 at a price of 1p per share.
Mark Child, the Chairman, was granted 9 million options, Klaus Eckhof, a non executive director, 3 million options and Pierre Moussa, a non executive director, 2 million options under the existing option scheme.
In accordance with the FSA's Disclosure and Transparency Rules, following the grant of the options, the Company would like to notify the market of the following:
- Condor's share capital consists of 330,311,753 ordinary shares with voting rights. The Company holds no shares in treasury. Therefore, the total number of voting rights in the Company is 330,311,753.
-Condor has 47,500,000 warrants in issue, details previously provided.
-Condor has a total of 29,100,000 options granted, post the grant of 21,000,000 options on 24th December 2008.
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For further information please visit www.condorresourcesplc.com or contact:
Condor Resources plc Mark Child, Chairman
+44 (0) 20 7408 1067
Ambrian Partners Limited Hugh Oram
+44 (0) 20 76344700
Farm Street Media Simon Robinson
+44 (0) 7593-340107
About Condor Resources Plc:
Condor Resources plc is an AIM listed exploration company focused on developing natural resource projects in Central
America. The Company was admitted to AIM on 31st May 2006 raising £4.9m to prove up JORC Resources in
Nicaragua and El Salvador. Condor has two 100% owned licenses and the option to earn an 80% interest in a further
license contained within two project areas within Nicaragua. In El Salvador, Condor has 100% ownership of four
licences in two project areas.
Since Admission to AIM, Condor has increased its JORC compliant resources from 350,000 ounces of gold and 18
million ounces of silver to 866,000 ounces of gold and 22 million ounces of silver. The Resource calculations are
compiled by independent geologists Ravensgate and Geosure.
Condor raised £2,000,000 before expenses in July 2008, which will allow the Company to continue developing its
existing gold and silver projects in Central America and identify opportunities in the natural resource sector in other
geographical locations.