3 Mar 2011 16:58
Sierra Rutile Limited
Grant of Share Options
3 March 2011: The Board of Sierra Rutile Limited ("SRL") announces that on 3 March 2011 it granted options over 15,700,000 common shares of nil par value in SRL ("Shares") to senior management employees and directors of SRL.
The options were granted pursuant to SRL's Share Option Plan, and are exercisable at 20p per share from the date of vesting. The options will vest quarterly in four equal portions, on 31 March 2011, 30 June 2011, 31 September 2011 and 31 December 2011, subject to continued employment with SRL. The options will expire on the third anniversary of grant.
Options granted were as follows:
Options Granted | Total Options Held | |
Executive Director | ||
John Sisay | 4,630,000 | 4,730,000 |
Non-Executive Directors | ||
Jan Castro, Chairman | 1,500,000 | 1,500,000 |
Alex Kamara | 1,000,000 | 1,000,000 |
François Colette | 1,000,000 | 1,000,000 |
Mike Brown | 1,000,000 | 1,000,000 |
Mike Barton | 1,000,000 | 1,000,000 |
Charles Entrekin | 1,000,000 | 1,000,000 |
Senior management | 4,570,000 | 4,695,000 |
Including the options as detailed above, the total number of outstanding vested and unvested options as of 3 March 2011 is 15,925,000.
ENDS
For further information:
Sierra Rutile Limited
John Sisay, Chief Executive
Telephone: +44 (0) 207 321 0000
Arbuthnot Securities
Nominated Adviser & Joint Broker
Hugh Field / Richard Johnson
Telephone: +44 (0) 20 7012 2000
Mirabaud Securities LLP
Joint Broker
Peter Krens
Telephone: +44 (0) 20 7321 2508
Aura Financial
Andy Mills / Harry Cameron
Telephone: +44 (0) 207 321 0000