Grant of share options

RNS Number : 6166H

Hummingbird Resources PLC

13 July 2012

 

Hummingbird Resources plc

("Hummingbird Resources" or the "Company") (AIM: HUM)

Grant of share options

The Company is pleased to announce that on 11 July 2012, 989,000 options over ordinary shares of 1p each in the Company were granted to certain directors and group employees.  These share options are exercisable at 112p per share and amount to 1.85% of the issued share capital in total. The share options vest in two tranches over a 24 month period assuming certain performance criteria are met in accordance with our policy of retaining and motivating key individuals.

Of the options detailed above, the following were awarded to directors of the Company:

Name                                                                   Options granted

Daniel Betts                                                                      250,000

William Cook                                                                    130,000

David Pelham                                                                     65,000

Ian Cockerill                                                                        50,000

Stephen Betts                                                                    33,000

Roderick Smith                                                                  33,000

Matthew Idiens                                                                 33,000
                                                                                ___________

Total granted to directors                                           594,000

Granted to non directors                                            395,000

                                                                                ___________

TOTAL GRANTED                                                             989,000

                                                                                ___________

The total number of ordinary shares currently in issue is 53,500,565, with options over a total of 5,132,000 ordinary shares outstanding. 

ENDS

Enquiries:

Hummingbird Resources plc

Daniel Betts, Chief Executive Officer

Thomas Hill, Chief Financial Officer and Company Secretary

Robert Monro, Head of Business Development  [phone]

Liberum Capital Limited

Nominated Adviser and Joint Broker

Tom Fyson / Christopher Kololian [phone]

Jefferies Hoare Govett

Joint Broker

Sara Hale / Thomas Rider [phone]

Yellow Jersey PR Limited

Dominic Barretto

[phone]

Harry Fielder

[phone]

Notes to Editors

Hummingbird Resources plc is an AIM quoted mineral exploration company incorporated in England and Wales and headquartered in London. Since its establishment in November 2005, the Company and its subsidiaries (the "Group") has been active in Liberia, West Africa, and is currently the holder of the largest area of mineral exploration ground in the highly prospective Birimian geological region of eastern Liberia.  The Group's total Resource is 3,817,000 ounces of gold (Indicated Resource of 1,373,000 ounces Gold and Inferred Resource of 2,444,000 ounces gold).

The Group has published a NI43-101 compliant Resource on its Dugbe F deposit of 43.01 million tonnes at 1.27 g/t Au to give 1,765,000 ounces of gold using a lower cut-off grade of 0.5 g/t Au and no upper cut-off grade (Indicated Resource of 1,373,000 ounces of gold at 1.28 g/t Au and an Inferred Resource of 392,000 ounces of gold at 1.23 g/t Au).   In addition, the Group has declared a maiden Inferred Resource on its Tuzon project of 52.8 million tonnes at 1.21 g/t Au to give 2,052,000 ounces gold using a lower cut-off grade of 0.5 g/t Au and an upper cut-off grade of 7.0 g/t Au. Tuzon lies 2.6km to the east of the Dugbe F deposit.  Exploration is being carried out to best industry practices.

The Group currently holds exploration licences covering approximately 7,000 square kilometres in total, which constitutes a significant proportion of eastern Liberia containing the Birimian sequence.

For more information, please visit www.hummingbirdresources.co.uk

 

END

 

 

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