31st Dec 2014 12:14
ECR MINERALS plc
(“ECR Minerals”, “ECR” or the “Company”)
AIM: ECR
US OTC: MTGDY
GRANT OF OPTIONS
LONDON: 31 DECEMBER 2014 - ECR Minerals plc announces the grant of 208,940,427 share options (the “Options”) to directors, staff and consultants. The Options have been granted under the Company’s unapproved share option plan (the “Option Plan”).
Each Option is exercisable to acquire one ordinary share of the Company at a price of £0.00275 (0.275 pence) per share. The Options will remain valid, subject to the rules of the Option Plan, until the fifth anniversary of the date of grant. The Options will vest immediately.
The exercise price of the Options equates to a premium of approximately 45% to the closing mid-market price of the Company’s shares on AIM on 30 December 2014.
Options have been granted to directors of the Company as follows:
| Director | Number of options held prior to this grant | Number of options granted | Total number of options held | % of current issued ordinary share capital | |||||
| Stephen Clayson | 58,945,872 | 71,055,089 | 130,000,961 | 3.71% | |||||
| Paul Johnson | 27,522,936 | 35,527,545 | 63,050,481 | 1.80% | |||||
| Richard Watts | 19,816,514 | 25,579,832 | 45,396,346 | 1.30% |
Paul Johnson, Non-Executive Chairman of ECR, commented:
“The ECR team in the UK, Argentina and the Philippines continue to work in a smart, efficient and results oriented manner to drive the business forward and build value for our shareholders. It is crucial that this high level of commitment is maintained and that the interests of directors, staff and key consultants remain aligned with those of shareholders. Incentive share options are an important means of achieving this.”
FOR FURTHER INFORMATION PLEASE CONTACT:
| ECR Minerals plc | Tel: +44 (0)20 7929 1010 | |||||
| Paul Johnson, Non-Executive Chairman | ||||||
| Stephen Clayson, Director & CEO | ||||||
| Richard (Dick) Watts, Technical Director | ||||||
| Email: [email protected] | ||||||
| Website: www.ecrminerals.com | ||||||
| Cairn Financial Advisers LLP |
| Tel: +44 (0)207 148 7900 | ||||
| Nominated Adviser | ||||||
| Jo Turner/Liam Murray | ||||||
| Daniel Stewart & Company plc |
| Tel: +44 (0)20 7776 6550 | ||||
| Broker |
| |||||
| Colin Rowbury | ||||||
Copyright Business Wire 2014
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