9th Nov 2012 10:30
9 November 2012
Beacon Hill Resources Plc / AIM: BHR / ASX: BHU / Sector: Mining
Beacon Hill Resources Plc
Grant of Options to Managing Director
Pursuant to the Company's Global Share Option Plan ('Option Scheme'), the Board of Beacon Hill Resources Plc ('Beacon Hill' or 'the Company') announces that it intends to seek Shareholder approval to grant options over 5,594,922 Ordinary Shares to Rowan Karstel, the Company's Managing Director, at an exercise price of 3.88 pence per share. A summary of the exercise periods and exercise conditions are provided below:
Number of Options | Exercise Period | Performance Conditions
|
745,990 | 31/12/2013 - 7/11/2018 | Rowan Karstel ('RK') remains in employment of the Company on the date of exercise. |
745,990 | 31/12/2014 - 7/11/2018 | RK remains in employment of the Company on the date of exercise. |
745,990 | 31/12/2015 - 7/11/2018 | RK remains in employment of the Company on the date of exercise. |
1,118,984 | 6/11/2012 - 7/11/2018 | The Company (or a subsidiary) enters into a definitive agreement for allocation of rail capacity on the Sena Railway Line, Mozambique of 0.5 MTPA or greater, or there is a Takeover of the Company. |
1,118,984 | 6/11/2012 - 7/11/2018 | The Minas Moatize project produces 90,000 tons or greater of export specification hard coking coal during 2013 or there is a Takeover of the Company. |
1,118,984 | 6/11/2012 - 7/11/2018 | The mid-market closing price per ordinary share is 5.6p or higher on each of 50 or more days over the period commencing from 6/11/2012 to 31/12/2013 or there is a Takeover of the Company. |
**ENDS**
For further information, please contact: | |
Beacon Hill Resources Plc | |
Rowan Karstel, Managing Director ([email protected]) | |
Timothy Jones, Group Finance Director ([email protected]) | + 44 (0) 1372 464 549 |
David Premraj, Director, Corporate Development ([email protected]) | +61 3 9627 9910 |
Canaccord Genuity Limited (Nominated Adviser) | |
Rob Collins / Sebastian Jones | +44 20 7523 8350 |
St Brides Media & Finance (Media Enquiries) | |
Susie Geliher ([email protected]) / Elisabeth Cowell ([email protected]) | +44 20 7236 1177 |
Related Shares:
BHR.L