Grant of Warrants

8th Nov 2005 07:01

Metals Exploration PLC08 November 2005 METALS EXPLORATION PLC GRANT OF WARRANTS 8 November 2005 The Board of Metals Exploration plc announces that on 3 November 2005, itgranted warrants to certain directors (and their related parties) and thirdparties to subscribe for up to 5,800,000 ordinary shares. Each warrant entitlesthe holder to subscribe for one ordinary share of 1 pence each in the capital ofthe Company. In accordance with Rule 17 of the AIM Rules the Company discloses that warrantshave been granted to the following directors (and their related parties) on theprinciple terms and conditions as set out below: Warrant Holder Exercise Exercise Period Number of Total Number of Price Warrants Warrants held by Granted Director or Related Party post-grant Gary Powell 12p 7 years from date of grant 1,000,000 1,500,000 40p 7 years from date of grant 500,000 Reef Securities Limited (a 20p 7 years from date of grant 1,000,000 2,500,000related party to StevenSmith) 40p 7 years from date of grant 500,000 Philip Barnett 20p 7 years from date of grant 500,000 2,000,000 40p 7 years from date of grant 500,000 Additionally warrants were granted to the following third parties:Warrant Holder Exercise Exercise Period Number of Total Number of Price Warrants Warrants post-grant Granted Ennismore Consultants 20p 7 years from date of grant 1,000,000 2,500,000Limited 40p 7 years from date of grant 500,000 Mobfi S.A. 12p 2 years from date of grant 300,000 520,960 Enquiries: Steven Smith: Chairman + 44 (0) 7797 721858Jonathan Anderson: Investor Relations + 44 (0) 7950 410680Philip Hayden-Slater: WH Ireland Limited + 44 (0) 2072 201666 This information is provided by RNS The company news service from the London Stock Exchange

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