3rd Feb 2010 12:54
North River Resources Plc
Grant of Options
Coronet Hill Update
Grant of Options
North River Resources Plc ("North River" or "Company") announces that it has today granted an aggregate 18,900,000 options to subscribe for new ordinary shares of 0.2 pence each ("Ordinary Shares") in the Company to directors, staff and consultants.
The options have been granted as follows:
|
Optionholder |
Tranche A |
Tranche B |
Tranche C |
Tranche D |
Total |
|
Mark Hohnen |
1,175,000 |
1,175,000 |
1,175,000 |
1,175,000 |
4,700,000 |
|
David Steinepreis |
1,175,000 |
1,175,000 |
1,175,000 |
1,175,000 |
4,700,000 |
|
Martin French |
250,000 |
250,000 |
250,000 |
250,000 |
1,000,000 |
|
Glyn Tonge |
250,000 |
250,000 |
250,000 |
250,000 |
1,000,000 |
|
CEO Luke Bryan |
750,000 |
750,000 |
750,000 |
750,000 |
3,000,000 |
|
Consultants |
300,000 |
300,000 |
300,000 |
300,000 |
1,200,000 |
|
Staff |
825,000 |
825,000 |
825,000 |
825,000 |
3,300,000 |
|
|
|
|
|
|
|
|
Total |
4,725,000 |
4,725,000 |
4,725,000 |
4,725,000 |
18,900,000 |
Tranche A options may be exercised at any time from grant until 1 February 2013 at a price of 7.5 pence per share.
Tranche B options may be exercised at any time from 1 February 2011 until 1 February 2013 at a price of 7.5 pence per share.
Tranche C options may be exercised at any time from grant until 1 February 2015 at a price of 10 pence per share.
Tranche D options may be exercised at any time from 1 February 2011 until 1 February 2015 at a price of 10 pence per share.
The options shall lapse in the event that the holder ceases to be a director, consultant or employee of the Company prior to exercise.
As a result of these grants the interests of the directors of the Company is as follows:
|
Director |
Ordinary Shares |
Options to subscribe for Ordinary Shares |
|
Mark Hohnen |
Nil |
4,700,000 |
|
David Steinepreis |
18,258,700 |
15,700,000 |
|
Martin French |
10,000,000 |
11,000,000 |
|
Glyn Tonge |
666,667 |
1,000,000 |
Coronet Hill Update
In 2006 North River entered into a farm-in agreement with Segue Resources Ltd in relation to the Coronet Hill project in Australia. Following the acquisition of our Namibian gold and base metal assets in November 2009 the company's focus has been on Namibia and Mozambique and accordingly the decision has been taken to withdraw from the farm-in agreement with Segue Resources with immediate effect. The directors of North River do not believe that withdrawal from Coronet Hill will have any material effect on the Company.
|
For further information please visit www.northriverresources.com or contact: |
||
|
David Steinepreis |
North River Resources Plc |
Tel: 07913 402727 |
|
Martin French |
North River Resources Plc |
Tel: 07901 552277 |
|
William Vandyk |
Astaire Securities Plc |
Tel: 020 7448 4400 |
|
Hugo de Salis |
St Brides Media & Finance Ltd |
Tel: 020 7236 1177 |
|
Susie Callear |
St Brides Media & Finance Ltd |
Tel: 020 7236 1177 |
Related Shares:
NRRP.L