Last checked at 21 Sep 2011 07:00
Horizonte Minerals plc / Index: AIM / Epic: HZM / Sector: Mining
21 September 2011
Horizonte Minerals plc ('Horizonte' or 'the Company')
Award of Options
Horizonte, the AIM and TSX quoted exploration and development company focused in Brazil, has, on the basis of the recommendation of its Remuneration Committee and in accordance with the Company's Enterprise Management Incentive Rules, awarded 14,380,000 options ('the Awarded Options') to directors and senior management to buy ordinary shares in the Company. The Awarded Options include the following amounts to directors of the Company:
Jeremy Martin | 2,000,000 |
David Hall | 1,000,000 |
Nicholas Winer | 1,500,000 |
Bill Fisher | 1,500,000 |
Allan Walker | 1,000,000 |
All of the Awarded Options have an exercise price of 15.4p and are exercisable from 21 September 2013. The exercise price was set on a 20 day average closing price at a 10% per cent. premium to the closing market price on 19 September 2011. The total number of options outstanding is 27,380,000 which represents 9.79% of current issued share capital of 279,559,980 ordinary shares.
Application has be made to the London Stock Exchange for a block listing totalling 27,380,000 ordinary shares of 1p each in the Company. These shares will be allotted and issued in due course upon the exercise of options pursuant to the Company's share option schemes. These shares will rank pari passu with the existing issued ordinary shares of the Company. Trading in the ordinary shares under the block listing is expected to commence on 28 September 2011.
* * ENDS * *
For further information visit www.horizonteminerals.com or contact:
Jeremy Martin | Horizonte Minerals plc | Tel: +44 (0) 20 7763 7157 |
David Hall | Horizonte Minerals plc | Tel: +44 (0) 20 7763 7157 |
Dominic Morley | Panmure Gordon (UK) Limited (Nomad and Broker) | Tel: +44 (0) 20 7459 3600 |
Joanna Weaving | finnCap Ltd (Joint Broker) | Tel: +44 (0) 20 7600 1658 |
Felicity Edwards | St Brides Media & Finance Ltd (PR) | Tel: +44 (0) 20 7236 1177 |
Notes
Horizonte Minerals Plc is an AIM quoted exploration and development company with a portfolio of nickel and gold projects in the Carajas District of Brazil. The Company is focused on creating value by generating and rapidly advancing exploration projects in tandem with joint ventures with major mining companies, providing mid-term cash flow which is then used to develop the business and pipeline projects.
Horizonte has two committed major mining partners: Teck Resources Limited, a major strategic shareholder in the Company, and AngloGold Ashanti Holdings plc, a JV partner on the gold portfolio.
Horizonte owns 100 per cent of the advanced Araguaia nickel project located to the south of the Carajas mineral district of northern Brazil; the project has the potential to deliver a resource with size and grades comparable to other world-class projects in northern Brazil
In addition Horizonte acquired the Lara Exploration Vila Oito project which has a non compliant potential resource of 10 to 11 Mt grading 1.3 to 1.4% Ni further consolidating the greater Araguaia district.
Horizonte is well funded to accelerate the development of its core projects.