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Grant of Options

3 Sep 2012 12:16

RNS Number : 3505L
New World Resources Plc
03 September 2012
 



Amsterdam, 3 September 2012

Grant of Options

New World Resources Plc (the 'Company') announces that Gareth Penny, Executive Chairman of the Company[1], has today been granted share options in three tranches (the 'Options'), each

 over 250,000 ordinary shares of EUR 0.40 each in the Company (representing an aggregate of 750,000 ordinary shares) with an exercise price of EUR 0.01 per share.

Subject to Mr. Penny remaining in employment with the Company, each of the Options will vest, as to one third of the shares subject to it, annually on the relevant anniversary of the grant date, such that:

·; one third of the shares subject to the first Option will vest on each of the first, second and third anniversary of the grant date;

·; one third of the shares subject to the second Option will vest on each of the second, third and fourth anniversary of the grant date; and

 

·; one third of the shares subject to the third Option will vest on each of the third, fourth and fifth anniversary of the grant date.

 

Once vested, each Option will be exercisable from the date on which it vests until the 7th anniversary of the first vesting date of that Option, when it will lapse.

- Ends -

 

For further information:

Investor Relations Corporate Communications

Tel: +31 20 570 2244 Tel: +31 20 570 2229

Email: ir@nwrgroup.eu Email: pr@nwrgroup.eu

 

Website: www.newworldresources.eu

 

 

About NWR:

New World Resources Plc is one of Central Europe's leading hard coal and coke producers. NWR produces quality coking and thermal coal for the steel and energy sectors in Central Europe through its subsidiary OKD, the largest hard coal mining company in the Czech Republic. NWR's coke subsidiary OKK, is Europe's largest producer of foundry coke. NWR currently has several development projects in Poland and the Czech Republic, which form part of NWR's regional growth strategy. NWR is a FTSE 250 company, with listings in London, Prague and Warsaw.


[1] Gareth Penny joined the Board of NWR on 3 September 2012 as Chairman-Elect and will become Executive Chairman on 1 October 2012.

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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