25th Jun 2013 18:00
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
Related Shares:
Leed Resources