Grant of Options

14 May 2008 16:10



Egdon Resources plc (the "Company")

Grant of Options

The Company announces that, as indicated in its AIM Admission Document, on 13 May 2008 it established an Enterprise Management Incentive Scheme and that options to purchase shares have been granted to all employees. 

All the options have been granted at an exercise price of 16.17p (being the average middle-market closing price on the preceding three trading days). The options are exercisable on or after 1st August 2010. 

Options have been granted over a total of 1,631,908 ordinary shares, representing approximately 2.4% of the issued share capital. The Company's Managing Director, Mark Abbott, has been granted options over 618,429 shares.