Issue of Options to Directors

RNS Number : 6744K

Mineral & Financial Invest. Limited

26 June 2014

 



MINERAL & FINANCIAL LIMITED

("Mineral & Financial", "MAFL", or the "Company")

Issue of Options to Directors

Mineral & Financial Limited today announces that options (the "Options") over a total of 500,000 ordinary shares in the Company are being allotted to Directors of the Company priced at 7.89 pence each.

The option price was determined based on the last Net Asset Value ("NAV") update for MAFL as of 31 March 2014. The NAV at 31 March 2014 was £1.082 million, or 7.89p per share (unaudited).

Following the issue of these share options, the total number of shares under option is 518,292, representing 3.8% of the Company's existing issued share capital of 13,722,062 ordinary shares. The Options are exercisable at any time and valid for 5 years, and are renewable annually for up to a further five years thereafter.

The options are being allotted to the following Executive Directors of the Company.

Name	Share options granted	Exercise price (£)	Total options held after grant
Alastair Ford	210,000	£ 0.0789	228,292
Laurence Read	185,000	£ 0.0789	185,000
Jacques Vaillancourt	105,000	£ 0.0789	105,000

For more information:

Laurence Read, Director 

[phone]

Katy Mitchell, WH Ireland

[phone]

 

END

 

 

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