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Grant of Options

25th Jun 2013 18:00

RNS Number : 8517H
Leed Resources PLC
25 June 2013
 

25 June 2013

Leed Resources Plc

("Leed" or "the Company")

 

Grant of Options and

Directors' Dealing

 

Leed, the natural resource focused investment company, announces that it has granted 219,889,648 options (the "2013 Options") to Peter Redmond (a director of the Company), to Bromius Capital Pte Limited, a company of which Ian Gibbs (a director of the Company) is also a director and shareholder and to Jinesh Patel (a director of the Company).

 

Each Option will entitle the holder to subscribe for new shares in the Company at an exercise price of 0.175 pence per new share on or before 24 June 2023. The Options will vest on the date the Company completes a transaction following the date of the grant of the options with a value of 20% or more of the Company's net assets at the last audited balance sheet date (the value of such net assets to be calculated as at 30 June 2012) and will then need to be exercised within three years following vesting.

 

Following the issue of the 2013 Options and including the options granted to Peter Redmond and Ian Gibbs in 2011 (the "2011 Options") the Company's directors will hold the following options:

 

Peter Redmond

Ian Gibbs

Jinesh Patel

number

exercise price (pence/ share)

number

exercise price (pence/ share)

number

exercise price (pence/ share)

2011 Options

75,078,062

0.4

50,052,042

0.4

0

n/a

2013 Options

45,678,851

0.175

70,704,871

0.175

103,505,926

0.175

Total

120,756,913

120,756,913

103,505,926

 

 

 

 

For further information, please contact:

 

Leed Resources plc

Peter Redmond

Tel: 0771 8660727

 

Libertas Capital Corporate Finance Limited

Sandy Jamieson

Tel: 020 7569 9650

 

Peterhouse Corporate Finance Limited

Jon Levinson/Lucy Williams

Tel: 0207 469 0935/ 0207 469 0936

 

VSA Capital Limited

Andrew Raca

Tel: 020 3005 5000

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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