Last checked at 27 Jun 2011 15:24
Hummingbird Resources plc
("Hummingbird" or the "Company" or the "Group")
(AIM: HUM)
Grant of share options
The Company is pleased to announce that on 27 June 2011, 1,023,000 options over ordinary shares of 1p each in the Company were granted to certain directors, group employees and consultants. These share options are exercisable at 125p per share (being the average share price over the last 5 days) and amount to 1.92% of the issued share capital in total. The share options vest in two tranches over a 24 month period assuming certain performance criteria are met in accordance with our policy of retaining and motivating key staff.
Of the options detailed above, the following were awarded to directors of the Company:
Name Options granted
Daniel Betts 84,000
William Cook 77,000
David Pelham 65,000
Ian Cockerill 40,000
Stephen Betts 33,000
Roderick Smith 33,000
Matthew Idiens 33,000 ___________
Total granted to directors 365,000
Granted to non directors 658,000
___________
TOTAL GRANTED 1,023,000
___________
The total number of ordinary shares currently in issue is 53,355,565, with options over a total of 4,533,000 ordinary shares outstanding.
Enquiries:
Hummingbird Resources plc
Daniel Betts, Chief Executive Officer
Thomas Hill, Chief Financial Officer and Company Secretary +44 (0) 20 3416 3560
Liberum Capital Limited
Nominated Adviser and Joint Broker
Tom Fyson / Richard Bootle +44 (0)20 3100 2222
Mirabaud Securities LLP
Joint Broker
Peter Krens +44 (0) 20 7321 2508
Threadneedle Communications Limited
Laurence Read /Beth Harris +44 (0)20 7653 9850
Notes to Editors
Hummingbird Resources plc is an AIM quoted mineral exploration company incorporated in England and Wales and headquartered in London. Since its establishment in November 2005, the Group has been active in Liberia, West Africa, and is currently the holder of the largest area of mineral exploration ground in the highly prospective Birimian geological region of eastern Liberia. The Group's licences are prospective for gold, iron ore and other minerals.
The Group currently holds exploration licences covering approximately 7,000 square kilometres in total, which constitutes a significant proportion of eastern Liberia containing the Birimian sequence.
The Group's most advanced gold exploration has taken place in the Dugbe, Zia and Jababli licence areas, with Dugbe Block F with a recently confirmed gold resource of 20.90 million tonnes at 1.208 g/t to give 812,000 oz Au using a cutoff grade of 0.5 g/t. The exploration has been based on sound geological premises and has been executed in an efficient and practical manner according to best industry practices.
For more information, please visit www.hummingbirdresources.co.uk