Ovoca Bio Regulatory News (OVB)

11 May 2005 16:33

Ovoca Resources PLC11 May 2005 Ovoca Resources plc ("Ovoca or the "Company") Director appointments and Award of options to directors Director appointments On 10 May 2005, Mr. Roger Turner and Dr. Barrie Oakes were co-opted to the boardof the Company following completion of the acquisition of a 78 percent interestin the issued share capital of Norplat Limited ("Norplat"). Mr. Turner has not held at any time in the previous five years and does notcurrently hold any directorships in public limited companies save as listedbelow. Current PreviousMinco plc Oxus Gold plc Angus & Ross plc There are no details specified by schedule 2 paragraph (f) of the IEX Rules tobe disclosed in relation to Mr. Turner. Mr. Turner's shareholding (includinginterests of connected parties) is 2,864,438 ordinary shares of €0.025 each,representing 3.1% of the total issued share capital of the Company as enlargedfollowing the acquisition of Norplat. On 10 May 2005 Mr. Turner was awardedoptions over 425,000 ordinary shares in the share capital of the Company whichare exercisable at €0.11 up to May 2015. Dr. Oakes has not held at any time in the previous five years and does notcurrently hold any directorships in any other company and there are no detailsspecified by schedule 2 paragraph (f) of the IEX Rules to be disclosed inrelation to Dr. Oakes. Dr. Oakes' shareholding (including interests ofconnected parties) is 3,719,889 ordinary shares of €0.025 each, representing 4%of the total issued share capital of the Company as enlarged following theacquisition of Norplat. On 10 May 2005 Dr. Oakes was awarded options over425,000 ordinary shares in the share capital of the Company which areexercisable at €0.11 up to May 2015. Mr. Turner and Dr. Oakes have entered into an undertaking with the Company thatthey will not sell or dispose of, or agree to sell or dispose of, any of theirshareholding in Ovoca for 12 months following the date of admission of theirordinary shares to trading on the IEX (which is expected to occur by 16 May2005). Grant of options to directors In addition to the grant of options described above, on 10 May 2005 Mr. RichardO Shea, Mr. John O Connor and Mr. Harry Dobson were each granted options over250,000 ordinary shares in the share capital of the Company which areexercisable at €0.11 up to May 2015 and Mr. Paul Smithwick was granted optionsover 100,000 ordinary shares in the share capital of the Company which areexercisable at €0.11 up to May 2015. As at 11 May 2005 the directors of the Company hold the following options overordinary shares in the capital of the Company: Director Total Options held at 11 May 2005Roger Turner 425,000Barrie Oakes 425,000Richard O Shea 975,000John O Connor 990,000Harry Dobson 1,175,000Paul Smithwick 990,000 Contact: John O'Connor +353 (0)1 491 2950 This announcement has been issued through the Companies Announcement Service of the Irish Stock Exchange. This information is provided by RNS The company news service from the London Stock Exchange