26th Jul 2011 09:30
26 July 2011
Strategic Natural Resources PLC
("SNR" or the "Company")
Grant of Options
Strategic Natural Resources PLC. (AIM: SNRP) announces that the Company has granted share options to certain directors under the SNR share option plan (the "Share Options") as follows:
Director | Number of Share Options granted |
Richard Latham (Chairman) | 763,601 |
David Nel (Chief Executive) | 988,189 |
Jeremy Metcalfe (Communications Director) | 898,354 |
Barry Nel (Commercial Director) | 763,601 |
Edward Cox (Finance Director) | 538,932 |
Bertus Steenkamp (Non-Executive Director) | 600,000 |
Randal MacDonnell (Non-Executive Director) | 538,932 |
Stone Sizani (Non-Executive Director) | 535,660 |
TOTAL | 5,627,269 |
The Share Options may be exercised from 22 July 2014 and 22 July 2021 and have an exercise price of 16.625 pence per Share Option. The Share Options represent the only outstanding options over the Company's issued share capital.
The Share Options will vest subject to the performance condition that the published mid-market closing price of the Company's ordinary shares shall be 30 pence or higher for a minimum of 10 consecutive dealing days (being days on which the London Stock Exchange is open for the transaction of business) following 22 July 2011.
The vesting of 400,000 of the Share Options that have been granted to Bertus Steenkamp are subject to further performance conditions in relation to development of the Company's 74% owed Elitheni coal mine in the Eastern Cape of South Africa.
For further information, please contact:
Strategic Natural Resources plc David Nel, Chief Executive Officer Jeremy Metcalfe, Communications Director |
+27 (0) 41 374 0842 +44 (0)7785 346 718 |
Nominated Adviser and Joint Broker - Allenby Capital Limited Nick Naylor / Alex Price / James Reeve |
+44 (0) 20 3328 5656 |
Evolution Securities Chris Sim / Romil Patel |
+44 207 071 4300 |
SP Angel Corporate Finance Limited - Joint Broker Emin Eyi / Tercel Moore |
+44 (0) 207 647 9646 |
Financial Dynamics Billy Clegg / Oliver Winters | +44 (0)207 831 3113 +44 (0)77 0332 9024 |
For further information about Strategic Natural Resources plc please visit www.snrplc.co.uk
Related Shares:
SNRP.L