31 Oct 2017 09:03
31 October 2017
Pembridge Resources plc ("Pembridge" or the "Company")
Issue of Share options
Pembridge Resources plc (LSE: PERE) announces that it has issued a total of 22,050,000 share options, in accordance with the rules of the Company's Share Option Plan 2016 as approved by shareholders on 18 August, 2017.
The awards were approved by the Board on 30 October, 2017 (the "Award Date").
All of the options awarded are for ten years and each award will vest 33.3% on the first, second and third anniversary of the Award Date. The exercise price for each award is set at 2 pence per share in respect of the one third vesting on the first anniversary of the Award Date; 4 pence per share in respect of the one third vesting on the second anniversary of the Award Date ; and 8 pence per share in respect of the one third vesting on the third anniversary of the Award Date.
Share options issued to the Directors are as follows:
David Linsley 7,200,000
Guy Le Bel 1,350,000
Francis McAllister 1,350,000
Gati Al-Jebouri 1,350,000
The balance of 10,800,000 options were awarded to consultants and members of the management team.
The Directors are, as previously announced, currently taking no salaries until a transaction constituting a reverse takeover is completed by the Company.
The Company currently has 223,849,257 ordinary shares of 0.1p in issue.
For further information on the Company, visit: http://www.pembridgeresources.com
For further information please contact:
Pembridge Resources PLC
David Linsley, Chief Executive Officer
T: +44 (0)207 917 2968
Damien McCrystal, Public Relations
T: +44 (0)7816 770 758
damien@mccrystal.info
SI Capital Limited - Joint Broker
Nick Emerson
T: +44 (0)1483 413 500