Issue of Options

RNS Number : 9010C

Rare Earth Minerals PLC

01 July 2016

 

                                                                                                                                                1 July 2016

Rare Earth Minerals Plc.

("Rare Earth Minerals", "REM" or "the Company")

Issue of Options

Rare Earth Minerals plc (AIM: REM) today announces that it has issued options over a total of 300,000,000 ordinary shares at an exercise price of 0.44p per share (being the closing mid-market price on 30 June 2016 of 0.44p). These options will vest immediately and will expire on 30 June 2021. The options were issued under the Company's share incentive plan ("SIP"), as announced on 11 September 2014.

The options represent in aggregate 4.02% of the existing issued share capital and have been issued to directors. Following this issue, the Company has 624,000,000 outstanding options in total, representing approximately 8.36% of the existing issued share capital.

The options for the directors have been issued as follows:

Name	New Options issued	Existing Options	Ordinary shares held	Total	% of issued capital
A.Suckling	120,000,000	-	-	120,000,000	1.60
K.Morzaria	60,000,000	60,000,000	5,000,000	125,000,000	1.68
D.Strang	60,000,000	60,000,000	-	120,000,000	1.60
A.Fairbourn	60,000,000	60,000,000	-	120,000,000	1.60

For further information, please contact: 

Rare Earth Minerals plc                                                                                      [phone]

Kiran Morzaria

WH Ireland Limited (NOMAD & Broker)                                                         [phone]

James Joyce

Mark Leonard

 

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