5th Feb 2013 07:00
Sierra Rutile Limited
Grant of Options
London, UK, 5 February 2013: Sierra Rutile Limited (the "Company") announces that it has granted options over 3,800,000 shares in the capital of the Company to directors and senior management on 4 February 2013.
The options are exercisable at a price of 69.50 pence per share and will vest in four equal tranches on 4 February 2014, 31 May 2014, 31 July 2014 and 31 October 2014. 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 | ||||
Executive Director |
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John Sisay, Chief Executive Officer | 500,000 | 7,630,000 |
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Non-Executive Directors |
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Jan Castro, Chairman | 300,000 | 2,175,000 |
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Alex Kamara | 200,000 | 1,950,000 |
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Charles Entrekin | 200,000 | 2,200,000 |
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Michael Barton | 200,000 | 1,450,000 |
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Michael Brown | 200,000 | 1,450,000 |
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Richard Lister | 200,000 | 950,000 |
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Senior Management | 2,000,000 | 10,391,250 |
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Following the grant of options as detailed above, the total number of vested and unvested options outstanding as of 4 February 2013 is 28,196,250.
ENDS
For Further Information:
Sierra Rutile Limited John Nagulendran, Company Secretary Yves Ilunga, Chief Financial Officer
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+41(0) 41 560 9070 +44 (0)20 7074 1800 |
RBC Capital Markets Nominated Adviser and Joint Corporate Broker Martin Eales / Jonathan 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 Andy Jones/ Anthony Hughes |
+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 600 million tonnes (as at February 2011).
www.sierra-rutile.com
Related Shares:
SRX.L