Last checked at 30 Aug 2013 07:00
Sylvania Platinum Limited
("Sylvania" or "the Company")
AIM (SLP)
GRANT OF OPTIONS
The Company announces that, on 29 August 2013, it granted 1,600,000 options over ordinary shares of $0.10 each in the Company under the Sylvania Platinum Option Plan (the "Plan"). This is in line with the Company's retention strategy and, following this transaction, a total of 14,600,000 options have been allocated under the Plan.
Details of the options allocated in this tranche to directors of the Company, including their total respective option holdings following the transaction, are as follows:
Options Granted | Total options held following grant | |
Terry McConnachie | 500,000 | 2,500,000 |
Roger Williams | 200,000 | 700,000 |
Grant Button | 100,000 | 1,100,000 |
The balance of 800,000 options were awarded to senior and operational management.
Pursuant to the terms of the Plan, the options granted have a nil exercise price and an expiry date of 29 August 2023. Exercise of the options is subject to time-based vesting, with 20% of the options vesting on 29 August 2015, a further 40% of the options vesting on 29 August 2016 and the remaining 40% vesting on 29 August 2017 (subject to the participant's continued employment).
Ends
CORPORATE INFORMATION
Registered office: Sylvania Platinum Limited
Clarendon House
2 Church Street
Hamilton HM 11
Bermuda
Postal address: PO Box 976
Florida Hills, 1716
South Africa
Sylvania Website: www.sylvaniaplatinum.com
CONTACT DETAILS
For further information, please contact:
Terence McConnachie (Chief Executive Officer)
+44 777 533 7175
Nominated Advisor and Broker
Liberum Capital Limited
Michael Rawlinson/Tom Fyson/Christopher Kololian
+44 (0) 20 3100 2000
Communications
Newgate Threadneedle
Graham Herring
+44 (0) 20 7653 9850