10th Dec 2014 07:00
10 December 2014
Weatherly International Plc
("Weatherly" or "the Company")
Grant of Options
The Company announces that it has granted options over 5,600,000 ordinary shares ('options') to directors of the company.
Each option will entitle the holder to subscribe for new ordinary shares in the Company at an exercise price of 3.38p per new ordinary share on or before 9 December 2024. These options are not granted under the company's unapproved share option scheme and consequently a premium to the current share price and differing vesting terms are being applied. The options will vest following a period of three calendar months during which an aggregate of 3,000 tonnes of copper cathode is produced at the Tschudi mine.
The following options have been granted:
Name of Director | Current Shareholding | % of issued share capital | Number of Options Granted | Total number of options held following grant |
Rod Webster | 28,271,800 | 3.64 | 4,000,000 | 9,833,333 |
John Bryant | 739,380 | 0.10 | 400,000 | 1,150,000 |
Charilaos Stavrakis | 1,421,052 | 0.18 | 400,000 | 1,150,000 |
Wolf Martinick | 22,983,200 | 2.96 | 400,000 | 1,150,000 |
Alan Stephens | 300,300 | 0.04 | 400,000 | 1,150,000 |
For further information please contact:
Weatherly International Plc +44 (0) 20 7917 2989
Rod Webster, CEO
Kevin Ellis, CFO & Company Secretary
RFC Ambrian Limited +44 (0) 20 3440 6800
(Nominated Adviser & Broker)
Samantha Harrison
Finncap +44 (0) 20 7220 0514
(Joint Broker)
Joanna Weaving
Blytheweigh +44 (0) 20 7138 3204
(Financial PR)Tim Blythe / Halimah Hussain
About Weatherly
Weatherly is an AIM listed copper mining company operating in Namibia in southern Africa. Its principal assets are two underground copper mines, Otjihase and Matchless, and a larger open pit development called Tschudi scheduled to come on stream in the second quarter of calendar year 2015.
These assets will enable Weatherly to achieve its medium term goal of establishing a mining business capable of sustaining approximately 25,000 tonnes per annum of copper production.
The Company also has a 25% stake in the AIM listed company, China Africa Resources Plc (CAF), which is developing a lead/zinc mine called Berg Aukas also in Namibia.
Related Shares:
Weatherly International Plc