22nd Nov 2011 15:53
Sierra Rutile Limited (the "Company")
Exercise of Options and Director's Dealings
The Company received notices of exercise of options from option holders on the 20th November. The Company issued 250,000 and 100,000 shares of no par value in the Company ("Ordinary Shares") (being 350,000 Ordinary Shares in aggregate) on 20th November pursuant to the exercise of share options.
Of these, the following director of the Company exercised options over 250,000 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 |
Francois Colette | 250,000 | 3 March 2011 | 20p | Nil | 0% |
Pursuant to the exercise of these options, the Company has made application to the London Stock Exchange for 350,000 new Ordinary Shares to be admitted to trading on AIM ("Admission"). It is expected that Admission will become effective on 28 November 2011.
Following Admission, the Company will have 509,255,000 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