6th Nov 2009 15:09
6 November 2009 CHL: AIM
CHURCHILL MINING PLC
("Churchill" or "the Company")
Assignment of Options by Director
The Company was informed today that Paul Mazak, Managing Director of the Company, has assigned 1,500,000 options over ordinary shares in the Company ("Options") to Pala Investments Holdings Limited ("Pala"). The proceeds from the assignment of the options will be used to satisfy a family settlement.
The Options comprise 1,200,000 options with a strike price of GBP0.12 that expire on 28 March 2012 and 300,000 options with a strike price of GBP0.20 that expire on 15 April 2010. Pala has agreed to pay a consideration for the Options based on valuing each ordinary share of the Company at 100p.
Following this assignment Paul Mazak remains beneficially interested in the following options over ordinary shares in the Company:
|
Number of options |
Option exercise price |
Expiry date |
|
140,914 |
35p |
18 Apr 2011 |
|
1,157,100 |
35p |
23 May 2011 |
|
1,200,000 |
12p |
28 Mar 2012 |
|
1,150,000 |
75p |
09 May 2013 |
Enquiries:
|
Churchill Mining Plc Managing Director - Paul G. Mazak +62 81510539186 / + 62 21 39832398 |
Astaire Securities Shane Gallwey
+44(0)20 7448 4400 |
Pelham PR James MacFarlane / Charles Vivian +44 (0) 20 7337 1533 or +44 (0) 7894462114 |
Related Shares:
Cloudified Holdings Limited