21st Oct 2013 07:01
21 October 2013
Mwana Africa PLC
("Mwana" or the "Company")
Grant of Options
Mwana announces that on 18 October 2013 the Company granted options over 13,000,000 ordinary shares of 1p each ("Options") to two directors and an employee, at an exercise price of 1.6p per share. The grant of the Options is in accordance with the terms of their letters of appointment.
Director name | Existing options | No. of options granted | Total options over ordinary shares |
Mark Wellesley-Wood | - | 8,000,000 | 8,000,000 |
Yim Chiu Kwan | - | 3,000,000 | 3,000,000 |
These Options have a vesting period of three years from the date of grant.
For further information contact:
Mwana Africa PLC Simon Gilbert, Company Secretary |
Tel: +44 (0) 20 7654 5580 |
Nominated Adviser and Broker Peel Hunt LLP Matthew Armitt / Ross Allister |
Tel: +44 (0) 20 7418 8900 |
Public & Investor Relations Tavistock Communications Ed Portman / Simon Hudson / Mike Bartlett |
Tel: +44 (0) 20 7920 3150 |
About Mwana Africa PLC
Mwana Africa PLC is a pan-African, multi-commodity mining and development company. Mwana's principal operations and exploration activities cover gold, nickel, copper and diamonds in Zimbabwe, the DRC and South Africa.
Mwana's Freda Rebecca gold mine in Zimbabwe, having restarted operations in 2009, produced 65,350 ozs of gold in the 12 months to March 2013.
In October 2013, Mwana announced that the gold mineral resource at its Zani Kodo project in Democratic Republic of Congo had increased to 2.975 million ounces.
In February 2013, Mwana announced it had signed a Joint Venture Agreement with Zhejiang Hailiang Company Limited to jointly explore some of its copper license areas in the Katanga Province of the DRC.
The restart of operations at The Trojan Nickel Mine (owned by Mwana's Zimbabwe subsidiary Bindura Nickel Corporation ("BNC")) followed four years during which all of the BNC assets were on care and maintenance. In September 2012, BNC carried out a restructuring and recapitalisation involving US$23m being invested into BNC which has allowed it to restart the Trojan mine. First sale of concentrate to Glencore took place in April 2013.
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