29 Jan 2013 18:07
REGENCY MINES PLC
("Regency" or "the Company")
Grant of Options
29 January 2013
Regency Mines plc announces the grant of 60,000,000 options over 60,000,0000 ordinary shares of £0.001 in the capital of the Company ("Ordinary Shares") representing 6.37% of the current issued share capital. Further details of the grants are outlined below.
The Board has approved the grant of the following options to Executive Directors of the Company:
Quantity | Exercise Price (£) | Exercisable from | Expiration | |
Andrew Bell | ||||
4,000,000 | 0.015 | Immediate | 01-Jun-16 | |
4,000,000 | 0.025 | Immediate | 01-Jun-17 | |
4,000,000 | 0.035 | 01-Jun-14 | 01-Jun-18 | |
4,000,000 | 0.045 | 01-Jun-15 | 01-Jun-19 | |
Edmund Bugnosen | ||||
2,000,000 | 0.015 | Immediate | 01-Jun-16 | |
2,000,000 | 0.025 | Immediate | 01-Jun-17 | |
2,000,000 | 0.035 | 01-Jun-14 | 01-Jun-18 | |
2,000,000 | 0.045 | 01-Jun-15 | 01-Jun-19 | |
Scott Kaintz | ||||
4,000,000 | 0.015 | Immediate | 01-Jun-16 | |
3,000,000 | 0.025 | Immediate | 01-Jun-17 | |
3,000,000 | 0.035 | 01-Jun-14 | 01-Jun-18 | |
2,000,000 | 0.045 | 01-Jun-15 | 01-Jun-19 | |
Further, the Board approved the grant of the following options to the Non-Executive Directors of the Company as outlined below:
Quantity | Exercise Price (£) | Exercisable from | Expiration | |
John Watkins | ||||
1,000,000 | 0.015 | Immediate | 01-Jun-16 | |
1,000,000 | 0.025 | Immediate | 01-Jun-17 | |
Julian Lee | ||||
1,000,000 | 0.015 | Immediate | 01-Jun-16 | |
1,000,000 | 0.025 | Immediate | 01-Jun-17 |
Lastly the Board also approved 20,000,000 stand-alone options to be granted at the Board's discretion to key staff and project managers. This grant of options will have an exercise period of two years from date of grant, expirations between 1 June 2016 and 1 June 2019, and strike prices between £0.015 and £0.045.
The Board considers the award of these options to be in line with the Company's policy of providing incentives to senior management and to Project Managers and equivalent in order to fully align employee interests with that of shareholders, facilitate retention and performance, and maximize value realisation from the Company's projects in Papua New Guinea, Sudan, and Australia.
Enquiries:
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