3Legs Resources plc Issue of ordinary shares to Directors (9450D)

TIDM3LEG

RNS Number : 9450D

3Legs Resources plc

03 April 2014

For Immediate Release

3 April 2014

3Legs Resources plc

Issue of ordinary shares to Directors in part payment of Directors' fees

3Legs Resources plc (the "Company") announces that it has approved the issue (the "Issue") and allocation of 43,567 Ordinary Shares of 0.025 pence in the Company ("Shares") to the four non-executive Directors of the Company, in part payment of non-executive Directors' fees. As previously announced, the non-executive Directors of the Company have agreed to reduce their Directors' fees by 20% and take one third of the balance of their fees in Shares. The present Issue is in respect of the period from 1 January to 31 March 2014.

The market value of the Shares for the purposes of the Issue is calculated as their average closing middle market price for the five dealing days prior to expiry of the period to which the Issue relates, and equals 24.10 pence per Share. The total value of the Issue is GBP10,499.65 and upon its completion the Company will have 84,938,374 shares in issue. Details of the allocations made and the resulting non-executive Directors' shareholdings are as follows.

 
 Name             Number of new Shares   Number of Shares     Interest in issued 
                        allocated         held following       share capital of 
                                               Issue         the Company following 
                                                                     Issue 
---------------  ---------------------  -----------------  ----------------------- 
 Timothy Eggar                  16,597            529,365                    0.62% 
---------------  ---------------------  -----------------  ----------------------- 
 David Bremner                   8,990            122,155                    0.14% 
---------------  ---------------------  -----------------  ----------------------- 
 Richard Hills                   8,990             47,155                    0.06% 
---------------  ---------------------  -----------------  ----------------------- 
 Rod Perry                       8,990            142,155                    0.17% 
---------------  ---------------------  -----------------  -----------------------

This information is given in compliance with AIM Rule 17.

For further information contact:

 
 3Legs Resources plc                Tel:    +44 1624 811 611 
 Kamlesh Parmar, Chief Executive 
  Officer 
 Alexander Fraser, Chief 
  Financial Officer 
 
 Jefferies Hoare Govett             Tel:    +44 207 029 8000 
 Simon Hardy 
 Graham Hertrich 
 
 Northland Capital Partners         Tel:    +44 207 382 1100 
 Louis Castro 
 Matthew Johnson 
 
 FTI Consulting                     Tel:    +44 207 831 3113 
 Oliver Winters 
 Shannon Brushe

This information is provided by RNS

The company news service from the London Stock Exchange

END

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