13th Dec 2012 15:21
Rare Earth Minerals plc
("REM" or the "Company")
Issue of Options
REM announces that it has issued options over a total of 68 million new ordinary shares of 0.01p each in the Company at an exercise price of 0.06p per share (compared to the latest mid market price on AIM of 0.06 p). These options will vest immediately and will expire on 31 December 2020.
The options represent in aggregate 3.22% of the existing issued share capital and have been issued on the following basis: Directors 0.95%, and management, consultants and advisers 2.27%.
The options for the Directors have been issued as follows:
Name | Options issued | Existing options | Ordinary shares | Total | % of issued share capital
|
A.Fairbourn | 20,000,000 | - | 6,666,667 | 26,666,667 | 1.26% |
Previously it was announced on 2 February 2011 that Mr Fairbourn would be allocated options over 20 million ordinary shares at an exercise price of 1 pence per share conditional on shareholder approval to increase the permitted level of options. This has now occurred. These options have now been awarded at an amended exercise price as outlined above.
For further information please contact:
Rare Earth Minerals plc | |
David Lenigas | +44 (0) 207 440 0647 |
Richard Griffiths | |
WH Ireland Limited | |
James Joyce | +44 (0) 207 220 1666 |
James Bavister |
Related Shares:
Cadence Mineral