Last checked at 26 Jan 2012 10:31
Tertiary Minerals plc (or the "Company")
Grant of Warrants
26 January 2012
Tertiary Minerals plc (ticker symbol 'TYM') an AIM-quoted mineral exploration and development company building a significant strategic position in the fluorspar sector, announces that on 26 January 2012 it granted 2,700,000 warrants to employees and directors of the Company. The grants included the following directors:
Name | Number of warrants granted |
Patrick Cheetham (Executive Chairman) | 1,500,000 |
David Whitehead (Non-executive Director) | 300,000 |
Donald McAlister (Non-executive Director) | 300,000 |
Each warrant is convertible to one new ordinary share at the price of 9.75 pence per share (the closing mid-market price on 25 January 2012) at any time within 4 years from 26 January 2013.
As a result of this issue of warrants the total number of warrants currently held by each Director is as follows:
Patrick Cheetham : 7,000,000
David Whitehead : 1,000,000
Donald McAlister : 1,300,000
ENQUIRIES
Tertiary Minerals plc Tel: +44 (0)1625 626203
Patrick Cheetham, Executive Chairman
www.tertiaryminerals.com
Seymour Pierce Limited Tel: +44 (0)20 7107 8000
Stewart Dickson (Corporate Finance)
Jeremy Stephenson (Corporate Broking)
Yellow Jersey PR Limited Mobile: +44 (0)7768 537 739
Dominic Barretto
Note to Editors:
Tertiary Minerals plc (ticker symbol 'TYM') is an AIM-quoted mineral exploration and development company building a significant strategic position in the fluorspar sector. Fluorspar is an essential raw material in the chemical, steel and aluminium industries and Tertiary controls two significant Scandinavian projects (Storuman in Sweden and Lassedalen in Norway).
A European Commission report has named fluorspar as one of its 14 'critical mineral raw materials' for which a predicted supply shortage would represent a substantial economic threat. The fluorspar market is going through a 'paradigm shift' - with China evolving from a large net exporter to a potential net importer. Tertiary Minerals plc is one of a limited number of listed companies offering exposure to looming fluorspar market shortage.
The Company has diversified its risk with projects in a variety of commodities in Finland and Saudi Arabia. Shares in the Company trade on AIM.
For further information: www.tertiaryminerals.com