Stratmin Global Resources PLC Grant of Options (1297C)

TIDMSTGR

RNS Number : 1297C

Stratmin Global Resources PLC

12 March 2014

Stratmin Global Resources Plc

('Stratmin' or the 'Company')

Grant of Options

Further to the earlier announcements made today, Stratmin also announces that the Company has granted options over, in aggregate, 7,000,000 ordinary shares of 4p each (the "Ordinary Shares") to Manoli Yannaghas, Managing Director of the Company, Laurie Hunter, the newly appointed Non-Executive Chairman of the Company, Gobind Sahney, the outgoing Non-Executive Chairman of the Company, and certain employees of the Company in accordance with the Company's March 2012 share option scheme (the "Options") (the "Award"). The grant of the Options to Mr Yannaghas and Mr Hunter is in accordance with the terms of their respective letters of appointment and the grant of Options to Mr Sahney is in accordance with the terms of his compromise agreement.

The Options granted have a three year term at a weighted average exercise price of 15.7 pence per share and in certain instances, the vesting of the Options will be dependent on the Company achieving certain operational and financial performance conditions. Vested options may be exercised during the remaining period of their three year term.

With specific reference to the Options granted to Mr Yannaghas, they have been structured in such a way that they will vest after each forthcoming quarter of calendar year 2014 only if the Company achieves specific operational and financial performance conditions. The Options granted to Mr Yannaghas have a weighted average exercise price of 16.3 pence.

The table below sets out the Option and Ordinary Share holdings of Mr Yannaghas, Mr Hunter and Mr Sahney in the Company following the Award.

 
Director /               New options     Vesting Date  Exercise Price  Total number 
 former director    granted pursuant                          (pence)   of Ordinary 
                        to the Award                                    Shares held 
                                                                        in Stratmin 
 
Manoli Yannaghas           1,000,000      12 Mar 2014            14.0        37,500 
                             150,000      31 Mar 2014            14.0 
                             650,000      30 Jun 2014            17.0 
                             450,000     31 Sept 2014            21.0 
                           2,250,000 
 
Laurie Hunter              1,000,000    12 March 2014            14.0           nil 
                                        12 March 2015 
                                          (or earlier 
                                       if the Company 
                             500,000   is taken over)            17.0 
                                        12 March 2015 
                                          (or earlier 
                                       if the Company 
                             500,000   is taken over)            0.21 
                           2,000,000 
 
Gobind Sahney                750,000    12 March 2014            14.0           nil

For further information please visit www.stratminglobal.com or contact:

Stratmin Global Resources Plc

Manoli Yannaghas (Managing Director) +44 (0) 20 7467 1700

Strand Hanson Limited (Nominated & Financial Adviser)

James Spinney / Ritchie Balmer +44 (0) 20 7409 3494

Hume Capital Securities plc (Sole Broker)

Jon Belliss / Abigail Wayne +44 (0) 20 3693 1470

Blytheweigh (Financial PR)

Tim Blythe / Halimah Hussain / Camilla Horsfall +44 (0) 20 7138 3204

-ends-

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