11 Mar 2013 12:00
11 March 2013
Plutus Resources plc
("Plutus" or the "Company")
Grant of Share Options
The Board of Plutus announces that, under the Company's unapproved share option plan (the "Plan"), on 8 March 2013, options over, in aggregate, 14,310,000 ordinary shares of 0.1 pence each ("Ordinary Shares") were granted to the directors of the Company (the "Grant").
Each option carries the right to subscribe for one new Ordinary Share in the capital of the Company at a price of 0.675 pence per Ordinary Share, being the closing mid-market price of the Company's Ordinary Shares on 8 March 2013 and the date on which the Plan was adopted. These options vest over a period of three years from the date of the Grant, with a third of the options vesting on the first, second and third anniversaries of the Grant respectively. These options are exercisable for a period of ten years from the date of the Grant subject to the vesting conditions and the terms of the Plan.
Following the Grant, the interests of the board of Plutus in the ordinary share capital of the Company are as follows:
Name | Number of options granted | Total number of options held following the Grant | Number of Ordinary Shares held | % of issued ordinary share capital of Plutus held |
| |
| ||||||
Charles Tatnall (Executive Director) | 4,770,000 | 4,770,000 | 28,000,000** | 19.5% |
| |
James Longley (Finance Director) | 4,770,000 | 4,770,000 | 20,000,000* | 13.9% |
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Nicholas Lee (Non-Executive Director) | 4,770,000 | 4,770,000 | Nil*** | - |
| |
Following the Grant, there are now options outstanding over, in aggregate, 14,310,000 new Ordinary Shares representing 9.98 per cent. of the Company's existing issued ordinary share capital.
* 13,300,000 of the Ordinary Shares held by James Longley are held in his own name and 6,700,000 of the Ordinary Shares are held through his self invested personal pension scheme of which James is the sole beneficiary.
** 21,000,000 of the Ordinary Shares held by Charles Tatnall are held in his own name and 7,000,000 of the Ordinary Shares are held through his self invested personal pension scheme of which Charles is the sole beneficiary.
*** Nicholas Lee is Chairman of Paternoster Resources plc which is interested in 40,000,000 Ordinary Shares representing 27.9 per cent. of the Company's existing issued ordinary share capital.
For further information, please contact:
Plutus Resources plc Charles Tatnall, Executive DirectorJames Longley, Finance Director
| Tel: 01483 400 610
|
Allenby Capital Limited(Nominated Adviser and Broker) Mark ConnellyNick Athanas | Tel: 020 3328 5656 |