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31 May 2011 08:18
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NOT FOR DISTRIBUTION IN THE UNITED STATES OR FOR DISSEMINATION TO U.S NEWS WIRE SERVICES.
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31 May 2011
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AIM: STEL
Stellar Diamonds plc
("Stellar" or the "Company")
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GRANT OF SHARE OPTIONS
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Stellar, the London Listed (AIM: STEL) diamond mining and exploration company focused on West Africa announces the grant of share options to directors and employees of the Company and its group of subsidiary companies. A total of 8,150,000 share options have been granted at an exercise price of 8 pence per ordinary share, exercisable for a period of 5 years from the date of grant, subject to the terms of the unapproved Company share option scheme. The exercise price represents a premium of 28% to the closing share price on 27 May 2011.
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The allocation of the share options is detailed in the following table:
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Directors | Position | Share Options granted | Exercise price (Ā£) | Total number of Share Options held |
Lord Daresbury | Non Executive Chairman | 1,000,000 | 0.08 | 1,702,000 |
Karl Smithson | Chief Executive Officer | 2,000,000 | 0.08 | 4,006,500 |
Steven Poulton | Non Executive Director | 800,000 | 0.08 | 1,452,000 |
James Campbell | Non Executive Director | 600,000 | 0.08 | 970,000 |
Luis da Silva | Non Executive Director | 600,000 | 0.08 | 1,353,000 |
5,000,000 | 9,483,500 | |||
Other Employees | 3,150,000 | 0.08 | 5,910,175 | |
Total | 15,393,675 |
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Following these option grants the total number of shares under option is 15,393,675 representing 7.10% of the company's share capital of 216,766,659 ordinary shares. In addition there are 23,064,383 warrants outstanding, exercisable at 12 pence per ordinary share.
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For further information please contact the following or visit the Company's website at www.stellar-diamonds.com.
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Stellar Diamonds plc
Karl Smithson, Chief Executive Tel: +44 (0) 20 7257 2930
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Gavin Burnell, Edward Hutton
Charles Vaughan Tel: +44 (0) 20 7796 8800
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Martin Lampshire, Oliver Rigby Tel: +44 (0) 20 7776 6550
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Pelham Bell Pottinger
Charles Vivian / James MacFarlane Tel: +44 (0) 20 7861 3232
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