23 Nov 2012 16:18
23 November 2012
Firestone Diamonds plc
(the 'Company' or 'Firestone')
Award of Share Options to Directors
The Board of Firestone, the AIM-quoted diamond mining and exploration company (ticker: AIM: FDI), announces that on 23 November 2012 (the "Grant Date") it granted options over ordinary shares of 1p each ("Ordinary Shares") in the Company to certain directors of Firestone under the Company's Unapproved Executive Share Option and Unapproved Share Option schemes.
Each of the following Directors has been granted options to acquire Ordinary Shares in the Company at a price of 8.5p per share:
Director | Position | Options over Ordinary Shares awarded
| Vesting date |
Lucio Genovese | Non-Executive Chairman | 9,000,000 | Immediate vesting |
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Abraham Jonker | Non-Executive Director | 3,000,000 | Immediate vesting |
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Julian Treger | Non-Executive Director | 3,000,000 | Immediate vesting |
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Tim Wilkes | Chief Executive Officer | 2,000,000 | Immediate vesting |
| 2,000,000 | 1st anniversary of the Grant Date | |
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| 2,000,000 | 2nd anniversary of the Grant Date |
The award of options to Lucio Genovese, Abraham Jonker and Julian Treger have been made by the Board to reflect the work completed by these individuals during 2012 and their active involvement with the Company's restructuring. The award of options to Tim Wilkesis made as part of his remuneration package and, in the case of awards which vest on the first and second anniversaries of the Grant Date, are subject to the achievement of performance conditions as specified by the Remuneration Committee.
Following these awards, the above Directors are interested in the following Ordinary Shares and options in the Company:
Director | Number of Ordinary Shares held | Percentage of voting rights in the Company | Total options over Ordinary Shares held | Option exercise price | Expiry date |
Lucio Genovese | 5,722,4031 | 1.05% | 9,000,000 | 8.5p | 22/11/2022 |
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Abraham Jonker | 2,255,215 | 0.41% | 3,000,000 | 8.5p | 22/11/2022 |
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Julian Treger | 65,394,4432 | 11.96% | 3,000,000 | 8.5p | 22/11/2022 |
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Tim Wilkes | 1,025,938 | 0.19% | 650,000 | 20p | 29/05/2015 |
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| 1,000,000 | N/A (Long term incentive shares) | 25/10/2016 |
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| 2,000,000 | 8.5p | 22/11/2022 |
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| 2,000,000 | 8.5p | 22/11/2022 |
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| 2,000,000 | 8.5p | 22/11/2022 |
1. | This corrects the figure of 5,721,095 made in the announcement on 15 March 2012. |
2. | Julian Treger is a partner in Audley Capital Advisors LLP, which is an advisor to Audley European Opportunities Master Fund, a significant shareholder in Firestone Diamonds PLC. Audley Capital Advisors LLP advises clients with an interest in 57,697,384 Ordinary Shares and Mr Treger through a trust of which Mr Treger is a beneficiary, is interested in 7,697,059 Ordinary Shares. |
For more information contact:
Firestone Diamonds Tim Wilkes
| +27 (79)8719686 / +44 20 8741 7810
|
Mirabaud Securities (Broker) Rory Scott
| +44 20 7878 3360
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N+1 Singer (Nominated Adviser) Jonny Franklin-Adams Alex Wright
| +44 20 7496 3000 |
Tavistock Communications Jos Simson Emily Fenton
| +44 20 7920 3150 / +44 7899 870 450 |