19th Jul 2013 07:00
19 July 2013
Strategic Minerals Plc
( "Strategic Minerals " or the "Company" )
Grant of Options
Strategic Minerals Plc (AIM: SML; USOTC: SMCDY), the magnetite iron ore producer and exploration company, announces that it has adopted an unapproved Enterprise Management Incentive Scheme ("EMI Scheme"). The following share options ("Options") have been approved by the Board for issuance under the EMI Scheme to certain directors of the Company, the details of which are set out below:
Director/employee | Number of Options Granted | Exercise price per Option | Vesting date |
James Fyfe, Chairman | 10,000,000 | 5p | Immediately |
5,000,000 | 7.5p | 30 June 2014 | |
5,000,000 | 10p | 30 June 2015 | |
Paul Harrison, CEO | 10,000,000 | 5p | Immediately |
5,000,000 | 7.5p | 30 June 2014 | |
5,000,000 | 10p | 30 June 2015 | |
David Anderson, Finance Director | 5,000,000 | 5p | 01 October 2013 |
2,500,000 | 7.5p | 01 October 2014 | |
2,500,000 | 10p | 01 October 2015 | |
TOTAL | 50,000,000 |
A further 10,000,000 Options have been granted to a senior employee of which 6,000,000 vest now with an exercise price of 5p and 4,000,000 vest on 30 June 2014 with an exercise price of 7.5p.
Each Option is exercisable into one ordinary share of 0.1p each in the Company. Once vested, the Options may be exercised at any time up until their expiry date of 27 June 2016. The Options represent 10.8% of the Company's current issued share capital. Following the grant of Options outlined above, there are a total of 78,094,983 share options outstanding over the Company's share capital, representing 14.1% of the Company's current issued share capital.
For further information:
Company | |
Strategic Minerals plc | +44(0) 20 7124 3050 |
Paul Harrison, CEO | +44(0) 7921 588589 |
Nominated Adviser/Joint Broker | |
Allenby Capital Limited | |
Jeremy Porter / James Reeve | +44 (0) 20 3328 5656 |
Joint Broker | |
Daniel Stewart & Company Plc | |
David Hart | +44 (0) 20 7776 6550 |
Financial Public Relations | |
GTH Communications Limited | |
Toby Hall / Suzanne Johnson Walsh | +44 (0) 20 7822 7493/7492 |
About Strategic Minerals
Strategic Minerals PLC (AIM: SML) is developing a portfolio of projects that provide near term production along with those that potentially offer longer term capital gains. Strategic Minerals currently holds iron ore stockpile assets in North America and exploration properties in Australia. The Company has commenced production at its first magnetite operation, the Cobre stockpile in New Mexico and is actively seeking to acquire and develop other projects within the same segment. www.strategicminerals.net
Related Shares:
Strategic Minerals