8th Mar 2012 07:00
08 March 2012
Strategic Natural Resources PLC
("SNR" or the "Company")
Grant of Options
Strategic Natural Resources PLC (AIM: SNRP) announces that, on 7 March 2012, the Company granted 275,000 share options to Andrew Brennan, Non-Executive Director of SNR, under the SNR share option plan (the "Share Options"). The Share Options have been granted to Mr Brennan in recognition of his efforts in relation to the Company's attempts to secure the funding required to accelerate development of its 74 per cent. owned Elitheni coal mine in the Eastern Cape of South Africa to production and enable the commencement of coal exports.
The Share Options may be exercised from 07 March 2015 to 06 March 2022 and have an exercise price of 17.625 pence per Share Option. The Share Options will vest subject to the performance condition that the published mid-market closing price of the Company's ordinary shares shall be 30 pence or higher for a minimum of 10 consecutive dealing days (being days on which the London Stock Exchange is open for the transaction of business) following 07 March 2012.
Following the grant of the Share Options, the total number of options outstanding over the Company's issued share capital is 5,905,541.
For further information, please contact:
Strategic Natural Resources plc | |
David Nel, Chief Executive Officer | +27 (0) 368 96 50 |
Jeremy Metcalfe, Communications Director | +44 (0)7785 346718 |
Allenby Capital Limited - Nominated Adviser and Joint Broker | |
Nick Naylor/Mark Connelly/James Reeve | +44 (0) 20 3328 5656 |
SP Angel Corporate Finance Limited - Joint Broker | |
Tercel Moore | +44 (0) 20 7647 9646 |
FTI Consulting | |
Ben Brewerton / Georgia Mann | +44 (0) 20 7831 3113 |
For further information about Strategic Natural Resources plc please visit www.snrplc.co.uk
Related Shares:
SNRP.L