Last checked at 6 Apr 2011 07:02
AURUM MINING PLC
("Aurum" or "the Company")
6 April 2011
Granting of stock options
The Company announces that it has today granted 3.95 million incentive stock options to the Directors of the Company conditional upon the successful completion of the placing of new ordinary shares in the Company as announced earlier today (the "Placing"). The options would represent approximately 3.34 per cent. of the share capital of the Company as enlarged pursuant to the Placing. The exercise price of the options will be the higher of: (i) the mid-market closing price of the Company's ordinary shares of 1p each on the business day immediately prior to the admission to AIM of the placing shares; and (ii) the placing price, being 3p per share. The options will be exercisable for a period of five years from completion of the Placing. Other than in respect of the proposed options, there are no other existing options or warrants outstanding.
If granted, the allocation of stock options to Directors will be as follows:
Name | Position | New optionsissued | Total options held on issue of new options |
Sean Finlay | Chairman | 650,000 | 650,000 |
Christopher Eadie | CEO | 2,000,000 | 2,000,000 |
Mark Jones | Director | 650,000 | 650,000 |
Haresh Kanabar | Director | 650,000 | 650,000 |
Contact details:
Aurum Mining plc | Tel: 020 7499 4000 |
Chris Eadie, Chief Executive Officer |
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Fairfax I.S. PLC | Tel: 020 7598 5368 |
Ewan Leggat / Laura Littley |
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