19th Oct 2011 07:00
19 October 2011
Obtala Resources Limited ("the Company")
Further subscription by Obtala Resources Employee Share Trust
Obtala Resources Limited (AIM: OBT), the mining, exploration and development company announces that it has issued and allotted further shares to the Obtala Resources Employee Share Trust ("the Trust") which has Marlborough Trust Company Limited appointed as trustee ("the Trustee").
On 18 October 2011, the Trustee agreed to purchase by way of subscription 2,100,000 new ordinary shares of 1p each in the Company (representing 0.88% of the Company's enlarged issued share capital) at a market price of 32.75p per share. Accordingly, application has been made for these new ordinary shares to be admitted to trading on AIM and it is expected that admission will take place on 25 October 2011.
All of these shares will be acquired jointly with a number of employees of the Group ("the Employees") pursuant to certain conditions set out in Joint Ownership Agreements ("JOA's"), further details of which can be found in the Company's annual report.
Notification of Director's Interest in shares in the Company
The following directors of the Company will acquire an interest in 1,900,000 ordinary shares of 1p each in the Company (representing 0.80% of the Company's enlarged issued share capital) which will be purchased by the Trustee as part of the arrangements set out above.
The Shares in which the Directors will purchase a joint interest together with the Earliest Realisation Date on which they can benefit from an increase in the value relating to each Shares Tranche is set out below:
Director | Numberof Shares | Earliest Realisation Date |
James Ede-Golightly | 300,000 | 18 October 2012 |
Nicholas Clarke | 300,000 | 18 October 2012 |
Michael Bretherton | 300,000 | 18 October 2012 |
Simon Rollason | 500,000 | 18 October 2012 |
Lord St John | 500,000 | 18 October 2012 |
Total | 1,900,000 |
|
Director | New interest in EBT shares | Existing interest in EBT shares | Interest in existing options | Interest in shares held directly | Total |
James Ede-Golightly | 300,000 | - | - | 300,000 | |
Nicholas Clarke | 300,000 | 500,000 | 150,000 | 950,000 | |
Michael Bretherton | 300,000 | 500,000 | - | 300,000 | 1,100,000 |
Simon Rollason | 500,000 | 500,000 | 500,000 | 160,000 | 1,660,000 |
Lord St John | 500,000 | 250,000 | - | 750,000 | |
Total | 1,900,000 | 1,750,000 | 650,000 | 460,000 | 4,760,000 |
The Company's Executive Chairman, Francesco Scolaro, does not have any interests in jointly-owned shares to be purchased by the Trust and holds no options over ordinary shares in the Company.
Following this subscription for new ordinary shares by the Trustee, the enlarged total issued share capital of the Company will increase to 238,179,974 ordinary shares.
Contact:
Obtala Resources Limited Simon Rollason - Managing Director Francesco Scolaro - Chairman www.obtalaresources.com
| +44 (0) 20 7099 1940
|
Macquarie (Nomad and Broker) | |
Jonny Franklin-Adams Dan Iacopetti
| +44 (0) 20 3037 2000 |
Threadneedle Communications | |
Laurence Read Richard Gotla | +44 (0) 20 7653 9855 |
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