Last checked at 13 Jul 2012 13:05
Hummingbird Resources plc
("Hummingbird Resources" or the "Company") (AIM: HUM)
Grant of share options
The Company is pleased to announce that on 11 July 2012, 989,000 options over ordinary shares of 1p each in the Company were granted to certain directors and group employees. These share options are exercisable at 112p per share and amount to 1.85% 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 individuals.
Of the options detailed above, the following were awarded to directors of the Company:
Name Options granted
Daniel Betts 250,000
William Cook 130,000
David Pelham 65,000
Ian Cockerill 50,000
Stephen Betts 33,000
Roderick Smith 33,000
Matthew Idiens 33,000 ___________
Total granted to directors 594,000
Granted to non directors 395,000
___________
TOTAL GRANTED 989,000
___________
The total number of ordinary shares currently in issue is 53,500,565, with options over a total of 5,132,000 ordinary shares outstanding.
ENDS
Enquiries:
Hummingbird Resources plc
Daniel Betts, Chief Executive Officer
Thomas Hill, Chief Financial Officer and Company Secretary
Robert Monro, Head of Business Development +44 (0) 203 416 3560
Liberum Capital Limited
Nominated Adviser and Joint Broker
Tom Fyson / Christopher Kololian +44 (0) 203 100 2222
Jefferies Hoare Govett
Joint Broker
Sara Hale / Thomas Rider +44 (0) 207 029 8000
Yellow Jersey PR Limited
Dominic Barretto
+44 (0) 7768 537739
Harry Fielder
+44 (0) 7747 788221
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 Company and its subsidiaries (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 total Resource is 3,817,000 ounces of gold (Indicated Resource of 1,373,000 ounces Gold and Inferred Resource of 2,444,000 ounces gold).
The Group has published a NI43-101 compliant Resource on its Dugbe F deposit of 43.01 million tonnes at 1.27 g/t Au to give 1,765,000 ounces of gold using a lower cut-off grade of 0.5 g/t Au and no upper cut-off grade (Indicated Resource of 1,373,000 ounces of gold at 1.28 g/t Au and an Inferred Resource of 392,000 ounces of gold at 1.23 g/t Au). In addition, the Group has declared a maiden Inferred Resource on its Tuzon project of 52.8 million tonnes at 1.21 g/t Au to give 2,052,000 ounces gold using a lower cut-off grade of 0.5 g/t Au and an upper cut-off grade of 7.0 g/t Au. Tuzon lies 2.6km to the east of the Dugbe F deposit. Exploration is being carried out to best industry practices.
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.
For more information, please visit www.hummingbirdresources.co.uk