Stratmin Global Resources PLC Grant of Options (1297C)
March 12 2014 - 8:03AM
UK Regulatory
TIDMSTGR
RNS Number : 1297C
Stratmin Global Resources PLC
12 March 2014
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-
This information is provided by RNS
The company news service from the London Stock Exchange
END
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