Grant of Options
November 18 2009 - 3:22AM
UK Regulatory
TIDMMIRL
RNS Number : 6806C
Minera IRL Limited
18 November 2009
Minera IRL Limited
("Minera IRL" or "the Company")
Grant of Options
London, 18 November, 2009: Minera IRL (AIM: MIRL), the South American precious
metals mining company, announces that on 17 November 2009 a total of 2,300,000
options over ordinary shares of nil par value in the Company ('Options') were
granted to certain Directors and executives, pursuant to the Minera IRL Limited
Incentive Stock Option Scheme ('Scheme'), which was approved by shareholders on
29 November 2006.
The Options are exercisable at 91.25p per share, which represents a 25 per cent.
premium on the closing price of 73p on the AIM market on the 16 November, and
will vest immediately. The Options shall expire after 5 years from the date of
grant.
Following the grant, the interests of Directors in Options is as follows:
Director Options granted
Resultant Option holding
C C Chamberlain 750,000 3,000,000
D A Jones 100,000
250,000
G D Ross 50,000 125,000
Total 900,000
3,375,000
The Scheme permits the grant of options up to a maximum of 10 per cent. of the
total number of ordinary shares in issue (including options exercised, but
excluding options that have lapsed). This grant represents options over
approximately 3 per cent of the current 75,807,882 ordinary shares of the
Company in issue. The total number of options granted to date which are still
outstanding is 6,430,000 representing approximately 8.5 per cent of the total
number of ordinary shares in issue.
For more information contact:
+------------------------------------------+-------------+-----------------------+
| Minera IRL | +511 4181230 |
| Courtney Chamberlain, Executive Chairman | |
| Trish Kent, Vice President, Corporate Relations | |
+--------------------------------------------------------+-----------------------+
| Arbuthnot Securities (Nominated Adviser | | + 44 (0)20 7012 2000 |
| & Broker, London) | | |
+------------------------------------------+-------------+-----------------------+
| John Prior | |
| Edward Burbidge | |
+--------------------------------------------------------+-----------------------+
| Fox-Davies Capital | + 44 (0)20 7936 5200 |
+--------------------------------------------------------+-----------------------+
| David Poraj-Wilczynski | |
| Jason Bahnsen | |
+--------------------------------------------------------+-----------------------+
| Bankside Consultants (Financial PR, London) | + 44 (0)20 7367 8888 |
+--------------------------------------------------------+-----------------------+
| Simon Rothschild | |
+--------------------------------------------------------+-----------------------+
| Louise Mason | |
+--------------------------------------------------------+-----------------------+
| Synergy Asociados (Public Relations, Lima) | + 511 628 6300 |
+--------------------------------------------------------+-----------------------+
| Magaly Villena | + 511 99855 2232 |
+------------------------------------------+-------------+-----------------------+
Minera IRL Limited ("MIRL") is the AIM and BVL, Lima, Peru listed holding
company of precious metals mining and exploration companies focused in Latin
America. MIRL is led by an experienced senior management team with extensive
industry experience, particularly in operating in South America. The Group
operates the Corihuarmi Gold Mine and the emerging Ollachea Gold Project in
Peru.
www.minera-irl.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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