Last checked at 26 Jun 2014 15:53
MINERAL & FINANCIAL LIMITED
("Mineral & Financial", "MAFL", or the "Company")
Issue of Options to Directors
Mineral & Financial Limited today announces that options (the "Options") over a total of 500,000 ordinary shares in the Company are being allotted to Directors of the Company priced at 7.89 pence each.
The option price was determined based on the last Net Asset Value ("NAV") update for MAFL as of 31 March 2014. The NAV at 31 March 2014 was £1.082 million, or 7.89p per share (unaudited).
Following the issue of these share options, the total number of shares under option is 518,292, representing 3.8% of the Company's existing issued share capital of 13,722,062 ordinary shares. The Options are exercisable at any time and valid for 5 years, and are renewable annually for up to a further five years thereafter.
The options are being allotted to the following Executive Directors of the Company.
Name | Share options granted | Exercise price (£) | Total options held after grant |
Alastair Ford | 210,000 | £ 0.0789 | 228,292 |
Laurence Read | 185,000 | £ 0.0789 | 185,000 |
Jacques Vaillancourt
| 105,000 | £ 0.0789 | 105,000 |
For more information:
Laurence Read, Director
+44 20 3289 9923
Katy Mitchell, WH Ireland
+44 161 832 2174