Grant of Options

RNS Number : 9155M

Landore Resources Limited

22 July 2014

 



Landore Resources Limited

("Landore" or the "Company")

Grant of Options

Landore announces that, on 21 July 2014, the remuneration committee of the Company approved the grant of options over, in aggregate, 9,300,000 ordinary shares of 1p each in the share capital of the Company ("Ordinary Shares") to certain key employees and directors of the Company employees under stand alone option deeds (the "Options"). These were then approved by the board on the same date.

The following Options were granted to directors of the Company:

Name	Number of Options	Total number of Ordinary Shares held under option
William Humphries	4,500,000	21,500,000
Richard Prickett	2,500,000	12,500,000
Charles Wilkinson	250,000	1,500,000
Helen Green	250,000	1,000,000

The Options are exercisable (in whole or in part) at any time up to the fifth anniversary of the date of grant and are exercisable at a price of 3.525p per Ordinary Share, being the closing share price on 21 July 2014.

An additional 1,800,000 Options were granted to key employees of the Company. As a result, following the grant of the Options, the Company now has a total of 45,100,000 options over Ordinary Shares outstanding, representing 8.7 percent of the Ordinary Shares currently in issue.

Enquiries:

Bill Humphries / Richard Prickett

Landore Resources Limited

Tel: [phone]

Tel: [phone]

Angela Hallett/James Spinney

Strand Hanson Limited

Tel: [phone]

Jon Belliss

Hume Capital Securities plc

Tel: [phone]

David Bick

Financial PR

Tel: [phone]

 

END

 

 

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