12 Jul 2010 10:35
Uranium Resources plc / Market: AIM / Epic: URA / Sector: Exploration
12 July 2010
Uranium Resources plc ('Uranium Resources') or ('the Company')
Grant of Options
Uranium Resources plc, the AIM listed uranium exploration and development company, announces that it has cancelled the option to subscribe for ordinary shares in the Company ('Shares') that was granted to Mr Alex Gostevskikh, the Company's Managing Director, on 24 July 2008 and has granted him a new option to subscribe for the following number of Shares on the following terms:
| Tranche | Shares | Exercise Price | Period for Exercise
| |
|
|
|
| From | To |
| A | 8,000,000 | 2.5 pence | 1 January 2011 | 23 July 2013 |
| B | 10,000,000 | 5 pence | 12 July 2010 | 23 July 2013 |
| C | 10,000,000 | 10 pence | 12 July 2010 | 23 July 2013 |
Aside from the vesting condition on Tranche A, the new option differs from the original option in that the exercise prices have been lowered from 5 pence, 15 pence and 35 pence to 2.5 pence, 5 pence and 10 pence for Tranche A, Tranche B and Tranche C respectively.
The Remuneration Committee reviewed the options previously granted to Alex and formed the view that the they were not fulfilling their function and that the new grant was more appropriate in the current circumstances of the Company.
**ENDS**
For further information please visit www.uraniumresources.co.uk or contact:
| Alex Gostevskikh | Uranium Resources plc | Tel: +44 (0) 7997 713377 |
| Ross Warner | Uranium Resources plc | Tel: +44 (0) 7760 487769 |
| Hugh Warner | Uranium Resources plc | Tel: +61 (0) 413 621 652 |
| Richard Swindells | Ambrian Partners Ltd (Nomad) | Tel: +44 (0) 20 7634 4700 |
| Hugo de Salis | St Brides Media & Finance Ltd | Tel: +44 (0) 20 7236 1177 |
| Felicity Edwards | St Brides Media & Finance Ltd | Tel: +44 (0) 20 7236 1177
|
Notes to editors
Uranium Resources plc is an AIM listed exploration and development company. It is the Company's strategy to advance its existing assets and strengthen its portfolio via opportunistic acquisition. Uranium Resources has uranium licences in the highly prospective Karoo Basin in Southern Tanzania where it currently has a land package in excess of 12,700 sq. km.