4th Nov 2011 16:22
Sierra Rutile Limited (the "Company")
Exercise of Options and Directors' Dealings
The Company received notices of exercise of options from option holders on the 3rd and 4th November. The Company issued 8,048,750 and 1,331,250 shares of no par value in the Company ("Ordinary Shares") (being 9,380,000 Ordinary Shares in aggregate) on 3rd and 4th November respectively pursuant to the exercise of share options.
Of these, the following directors of the Company exercised options over an aggregate 3,375,000 Ordinary Shares, and consequently sold the resultant shares at a share price of 30p per Ordinary Share:
Director | Number of options exercised | Date of grant | Exercise price | Number of Ordinary Shares held post exercise | % of Ordinary Share capital |
Michael Barton* | 750,000 | 3 March 2011 | 20p | Nil | 0% |
Michael Brown* | 750,000 | 3 March 2011 | 20p | Nil | 0% |
Jan Castro* | 1,125,000 | 3 March 2011 | 20p | Nil | 0% |
Francois Colette | 750,000 | 3 March 2011 | 20p | Nil | 0% |
*Representatives of Pala Investment Holdings Limited
Pursuant to the exercise of these options, the Company has made application to the London Stock Exchange for 9,380,000 new Ordinary Shares to be admitted to trading on AIM ("Admission"). It is expected that Admission will become effective on 10 November 2011.
Following this notification, the Company has 508,905,000 Ordinary Shares in issue.
For further information:
Sierra Rutile Limited www.sierra-rutile.com
John Sisay, Chief Executive Officer Telephone: +44 (0) 20 7321 0000
Collins Stewart Europe Limited
John Prior/Adam Miller Telephone: +44 (0) 20 7523 8350
Aura Financial
Michael Oke/Andy Mills Telephone: +44 (0) 20 7321 0000
Related Shares:
SRX.L