Last checked at 20 Nov 2018 15:20
Griffin Mining Limited
8th Floor, 54 Jermyn Street, London, SW1Y 6LX. United Kingdom
Telephone: + 44 (0)20 7629 7772 Facsimile: + 44 (0)20 7629 7773
E mail: griffin@griffinmining.com
Extension of Share Purchase Options
20th November 2018
Griffin Mining Ltd ("the Company") is pleased to announce, with the unanimous agreement of all the issued option holders, the extension of the exercise periods of share purchase options over:
1. 4,350,000 new ordinary shares (vested) exercisable at 40 pence per new ordinary share; and
2. 10,732,500 new ordinary shares (vested) exercisable at 30 pence per new ordinary share; and
3. 6,666,667 new ordinary shares (currently not vested) exercisable at 30 pence per new ordinary share
from 31st December 2018 in respect of the options exercisable at 40 pence per share and 31st December 2020 in respect of the options exercisable at 30 pence per share, to the 31st December 2022.
This will prevent the need in the short-term for the majority of the option holders, once exercising their options, to sell a significant portion of the resulting shares to meet the associated subscription costs and personal income tax liabilities imposed on such exercise.
Within the above the following persons discharging management responsibility have agreed to the extension of options in which they have an interest.
Name | Number of options exercisable at 40 pence per new ordinary share. All vested | Number of options exercisable at 30 pence per new ordinary share. Vested | Number of options exercisable at 40 pence per new ordinary share. Unvested |
Roger Goodwin Finance director | 500,000 | 1,000,000 | 500,000 |
Dal Brynelsen Director | - | 600,000 | 300,000 |
Rupert Crowe Director | - | 600,000 | 300,000 |
Adam Usdan Director | - | - | 1,166,666 |
Mark Hine Chief operating Officer | - | 125,000 | 125,000 |
Further information
Griffin Mining Limited
Mladen Ninkov - Chairman Telephone: +44(0)20 7629 7772
Roger Goodwin - Finance Director
Panmure Gordon (UK) Limited Telephone: +44 (0)20 7886 2500
Dominic Morley
Griffin Mining Limited's shares are quoted on the Alternative Investment Market (AIM) of the London Stock Exchange (symbol GFM).
The Company's news releases are available on the Company's web site: www.griffinmining.com