22nd Jul 2016 09:34
LONDON (Alliance News) - Sovereign Mines of Africa PLC Friday said it has granted warrants to its new Non-Executive Director Jeremy Sparrow as payment for his services.
Sparrow is not taking any fees related to his appointment at the company and has instead been granted warrants over 22.0 million shares that can be exercised at a price of 0.23 pence each.
Half of the warrants can be exercised before July 29, 2021, and the other half can only be exercised if the company completes a reverse takeover.
Sovereign Mine shares were trading up 6.7% to 0.40 pence per share on Friday morning.
By Joshua Warner; [email protected]; @JoshAlliance
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