16th Jan 2015 07:00
Sierra Rutile Limited
Grant of Share Options
London, UK, 16 January 2015: Sierra Rutile Limited (AIM: SRX) ("Sierra Rutile") announces that it has granted share options over 12,275,000 ordinary shares in the capital of Sierra Rutile to management and directors on 15 January 2015. The share options are exercisable at a price of 30 pence per share and will vest in four equal tranches on 15 January 2016, 15 April 2016, 15 July 2016 and 15 October 2016. The share options will expire on the third anniversary of the date of grant, being 15 January 2018.
Details of the share options granted to directors were as follows:
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Directors | Options Granted | ||||
John Sisay, Chief Executive Officer & Director | 1,250,000 | ||||
Michael Barton, Non-Executive Chairman & Director | 400,000 | ||||
Alex Kamara, Non-Executive Director | 400,000 | ||||
Michael Brown, Non-Executive Director | 400,000 | ||||
Charles Entrekin, Non-Executive Director | 400,000 | ||||
Richard Lister, Non-Executive Director | 400,000 | ||||
Stephen Gill, Non-Executive Director | 400,000 | ||||
Management | 8,625,000 | ||||
Following the grant of share options as detailed above, the total number of vested and unvested share options outstanding as of 15 January 2015 is 21,100,000 share options.
For Further Information:
Sierra Rutile Limited Yves Ilunga, Chief Financial Officer
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+44 (0)20 7074 1800 |
RBC Capital Markets Nominated Adviser and Joint Corporate Broker Jonny 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 Marc Cohen / Christina Clark |
+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 910 million tonnes (as at 30 September 2013).
www.sierra-rutile.com
Related Shares:
SRX.L