Amendment to existing options

RNS Number : 9749S

BlueRock Diamonds PLC

30 September 2014

 



BlueRock Diamonds plc

Amendment to existing options for Executive Directors

30 September 2014

Following the announcement of our fundraising announced earlier today, we have pleasure in announcing changes to the terms of the options which were granted to our CEO, Riaan Visser and our CTO, John Kilham, on 19 August 2013, immediately prior to our admission to AIM. The terms of the options for all of the other directors remain unchanged.

In recognition of the work completed to date and the fact that neither Riaan Visser nor John Kilham are being paid market salaries, on 30 September 2014, the Board has decided to amend the conversion terms of the options granted to Riaan Visser and John Kilham, such that the option exercise prices have been reduced to 14 pence (Tranche 1), 22 pence (Tranche 2) and 40 pence (Tranche 3). No other changes have been made to the terms of the option.  The amendments will take effect immediately.

Following the amendments outlined above, the terms of the options granted to the Directors will be as follows:

Director	Number of Ordinary Shares subject to Share Options	Tranche 1		Tranche 2		Tranche 3
		Number	Exercise Price (pence)	Number	Exercise Price (pence)	Number	Exercise Price (pence)
P. Beck	472,876	157,625	18	157,625	40	157,626	55
J. Kilham	472,876	157,625	14	157,625	22	157,626	40
T. Leslie	472,876	157,625	18	157,625	40	157,626	55
A. Markgraaff	472,876	157,625	18	157,625	40	157,626	55
J. Quirk	945,750	315,250	18	315,250	40	315,250	55
R. Visser	1,891,502	630,500	14	630,501	22	630,501	40
Total	4,728,756	1,576,250	-	1,576,251	-	1,576,255	-

Enquiries:

BlueRock Diamonds plc

Riaan Visser, CEO

www.bluerockdiamonds.co.uk     

[phone]

SP Angel Corporate Finance LLP

Nominated Adviser & Broker

David Facey / Katy Birkin / Liz Yong                   

[phone]

 

END

 

 

RDSEAXNEDSNLEEF