18th Jun 2014 07:00
Sierra Rutile Limited
Grant of Options
London, UK, 18 June 2014: Sierra Rutile Limited (AIM: SRX) ("Sierra Rutile") announces that it has granted options over 4,375,000 ordinary shares in the capital of Sierra Rutile to directors and senior management on 17 June 2014.
The options are exercisable at a price of 51 pence per share and will vest in four equal tranches on 17 June 2015, 17 September 2015, 17 December 2015 and 17 March 2016. The options will expire on the third anniversary of each vesting date.
Details of the options granted were as follows:
New Options Granted | Total Options Held |
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Directors |
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Alex Kamara, Non-Executive Director | 200,000 | 1,400,000 |
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Michael Brown, Non-Executive Director | 200,000 | 1,400,000 |
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Martyn Buttenshaw, Non-Executive Director | 200,000 | 675,000 |
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Jan Castro, Non-Executive Chairman | 300,000 | 2,100,000 |
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Charles Entrekin, Non-Executive Director | 200,000 | 1,400,000 |
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John Sisay, Chief Executive Officer and Director | 500,000 | 3,400,000 |
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Richard Lister, Non-Executive Director | 200,000 | 1,150,000 |
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Senior Management | 2,575,000 |
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Following the grant of options as detailed above, the total number of vested and unvested options outstanding as of 17 June 2014 is 20,870,833.
For Further Information:
Sierra Rutile Limited Yves Ilunga, Chief Financial Officer
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+44 (0)20 7074 1800 |
RBC Capital Markets Nominated Adviser and Joint Corporate Broker Jonny Hardy
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+44 (0)20 7653 4000 |
Mirabaud Securities Joint Corporate Broker Peter Krens
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+44 (0)20 7321 2508 |
Kreab Gavin Anderson Marc Cohen / Christina Clark |
+44 (0)20 7074 1800 |
About Sierra Rutile Limited
Sierra Rutile produces titanium feedstock industrial minerals (primarily rutile, with some associated ilmenite), as well as smaller quantities of zircon. Sierra Rutile's mine, located in the south west of Sierra Leone, is one of the largest natural rutile deposits in the world, with a JORC-Compliant Mineral Resource for measured, indicated and inferred resources for the Sierra Rutile mine of over 910 million tonnes (as at 30 September 2013).
www.sierra-rutile.com
Related Shares:
SRX.L