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10 Apr 2015 12:45
10 April 2015
Strategic Minerals plc
("Strategic Minerals" or the "Company")
Grant of Options
Strategic Minerals plc (AIM: SML; USOTC: SMCDY), the diversified commodity producer and project developer, announces that it has today issued 62,000,000 options over the Company's ordinary shares ("Options") under its Enterprise Management Incentive Scheme ("EMI Scheme").
The following Options have been approved by the Board of Strategic Minerals for issuance under the EMI Scheme to certain directors, executives and employees of the Company, exercisable at 1p per share. The Options will vest in two equal tranches upon a volume weighted average price ("VWAP") per ordinary share over five consecutive trading days on AIM of either 1.5 pence or 3 pence, as provided below:
Director | Options Granted | Exercise Price | Vesting Condition
| Expiry Date |
John Peters, Managing Director | 12,000,000 12,000,000 | 1 pence | 1.5 pence VWAP 3.0 pence VWAP | 30 June 2018 30 June 2019 |
Julien McInally, Chief Financial Officer | 12,000,000 12,000,000 | 1 pence | 1.5 pence VWAP 3.0 pence VWAP | 30 June 2018 30 June 2019 |
Lyle Hobbs, Non-Executive Director | 2,000,000 2,000,000 | 1 pence | 1.5 pence VWAP 3.0 pence VWAP | 30 June 2018 30 June 2019 |
Michael Wong, Non-Executive Director | 2,000,000 2,000,000 | 1 pence | 1.5 pence VWAP 3.0 pence VWAP | 30 June 2018 30 June 2019 |
Employees | 3,000,000 3,000,000 | 1 pence | 1.5 pence VWAP 3.0 pence VWAP | 30 June 2018 30 June 2019 |
Total | 62,000,000 |
Each Option is exercisable into one ordinary share of 0.1p each in the Company. Once vested, the Options may be exercised at any time up until their expiry date. The Options represent 8.6% of the Company's current issued share capital. Shares issued through the exercise of these Options will have trading restrictions whereby 25% of the Options exercised can be traded immediately after exercise and a further 25% can be traded each three months thereafter until all shares are eligible to be traded.
10,000,000 options previously issued to employees have been cancelled and therefore, following the grant of Options outlined above, there are a total of 70,421,416 share options outstanding over the Company's ordinary shares, representing 9.7 % of the Company's current issued share capital.
For further information, please contact:
Strategic Minerals plc John Peters Chairman and CEO
| +61 414 727 965
|
Allenby Capital Limited Nominated Adviser and broker Jeremy Porter James Reeve | +44 20 3328 5656 |
Tavistock Communications Financial PR Jos Simson Nuala Gallagher | +44 20 7920 3150 |
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