21st Dec 2012 12:44
NOT FOR DISTRIBUTION IN THE UNITED STATES OR FOR DISSEMINATION TO US NEWS WIRE SERVICES.
21 December 2012
AIM: STEL
Stellar Diamonds plc
("Stellar" or the "Company")
Grant of Share Options
Stellar, the London Listed (AIM: STEL) diamond mining and exploration company focused on West Africa announces the grant of share options to directors and employees of the Company or its subsidiaries. A total of 9,300,000 share options have been granted at an exercise price of 3 pence per ordinary share, exercisable for a period of 5 years from the date of grant, subject to the terms of the unapproved Company share option scheme. The exercise price represents a premium of 9% to the closing share price on 19 December 2012.
The allocation of the share options is detailed in the following table:
Directors | Position | Share Options granted | Exercise price (£) | Total number of Share Options held |
Lord Daresbury | Non-Executive Chairman | 1,000,000 | 0.03 | 2,702,000 |
Karl Smithson | Chief Executive Officer | 2,000,000 | 0.03 | 6,006,500 |
Steven Poulton | Non-Executive Director | 800,000 | 0.03 | 2,252,000 |
James Campbell | Non-Executive Director | 600,000 | 0.03 | 1,570,000 |
Luis da Silva | Non-Executive Director | 600,000 | 0.03 | 1,953,000 |
Dr. Markus Elsässer | Non-Executive Director | 1,000,000 | 0.03 | 1,000,000 |
6,000,000 | 15,483,500 | |||
Other Employees | 3,300,000 | 0.03 | 8,970,075 | |
Total | 24,453,575 |
Following these option grants the total number of shares under option is 24,153,575 representing 8.30% of the company's share capital of 294,512,400 ordinary shares.
About Stellar Diamonds plc
Stellar is a London (AIM: STEL) listed West African focussed diamond mining and exploration company which is advancing the Droujba kimberlite pipe in Guinea and the Tongo kimberlite dyke project in Sierra Leone, which combined have a JORC Compliant, inferred diamond resource of approximately 4 million carats. In April 2012 the Company announced a dispute with the Ministry of Mines in Sierra Leone over its two Kono licences and remains in discussions with the Government of Sierra Leone regarding the proper reinstatement of these licences.
For further information contact the following or visit the Company's website at www.stellar-diamonds.com.
Stellar Diamonds plc
Karl Smithson, Chief Executive Tel: +44 (0) 20 7257 2930
Northland Capital Partners Limited
(Nominated Advisor and Broker)
Gavin Burnell, Edward Hutton Tel: +44 (0) 20 7796 8800
Daniel Stewart & Company plc
(Co-Broker)
Martin Lampshire, Antony Legge Tel: +44 (0) 20 7776 6550
Pelham Bell Pottinger
James MacFarlane, Joanna Boon Tel: +44 (0) 20 7861 3232
Related Shares:
Stellar Diamonds