12th May 2008 09:58
CHURCHILL MINING PLC
('Churchill' or 'the Company')
Exercise of warrants and grant of options
Churchill Mining Plc announces that application has been made for 100,000 new ordinary shares of 1 pence each to be admitted to trading on AIM pursuant to the exercise of options at an exercise price of 20 pence per share.
The new ordinary shares will rank pari passu with the Company's existing ordinary shares and trading is expected to commence on 15 May 2008.
Following admission, 66,011,800 shares will be in issue.
The Company also announces that it has granted 3,100,000 share options to directors, consultants, key management and staff ("New Options"). The New Options vest 24 months after the date of issue and are exercisable at a price of 75p per share up until 9 May 2013. Of the New Options, 2,500,000 options have been granted to the following directors of the Company:
|
Name |
Options prior to the grant of New Options |
New Options granted |
Options following the grant of New Options
|
|
David Quinlivan |
2,051,140 |
450,000 |
2,501,140 |
|
Paul Mazak |
3,998,014 |
1,150,000 |
5,148,014 |
|
James Hamilton |
3,998,014 |
450,000 |
4,448,014 |
|
Faroek Basrewan |
0 |
450,000 |
450,000 |
ENDS
Enquiries:
Churchill Mining Plc Blue Oar
Paul Mazak Olly Cairns/Romil Patel
+61 (0)8 9388 0377 + 44 (0) 20 7448 4400
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Cloudified Holdings Limited