Grant of Options

RNS Number : 6791J

Strategic Minerals PLC

19 July 2013

 



19 July 2013

Strategic Minerals Plc

( "Strategic Minerals " or the "Company" )

Grant of Options

Strategic Minerals Plc (AIM: SML; USOTC: SMCDY), the magnetite iron ore producer and exploration company, announces that it has adopted an unapproved Enterprise Management Incentive Scheme ("EMI Scheme"). The following share options ("Options") have been approved by the Board for issuance under the EMI Scheme to certain directors of the Company, the details of which are set out below:

Director/employee	Number of Options Granted	Exercise price per Option	Vesting date
James Fyfe, Chairman	10,000,000	5p	Immediately
	5,000,000	7.5p	30 June 2014
	5,000,000	10p	30 June 2015
Paul Harrison, CEO	10,000,000	5p	Immediately
	5,000,000	7.5p	30 June 2014
	5,000,000	10p	30 June 2015
David Anderson, Finance Director	5,000,000	5p	01 October 2013
	2,500,000	7.5p	01 October 2014
	2,500,000	10p	01 October 2015
TOTAL	50,000,000

A further 10,000,000 Options have been granted to a senior employee of which 6,000,000 vest now with an exercise price of 5p and 4,000,000 vest on 30 June 2014 with an exercise price of 7.5p.

Each Option is exercisable into one ordinary share of 0.1p each in the Company. Once vested, the Options may be exercised at any time up until their expiry date of 27 June 2016. The Options represent 10.8% of the Company's current issued share capital. Following the grant of Options outlined above, there are a total of 78,094,983 share options outstanding over the Company's share capital, representing 14.1% of the Company's current issued share capital.

For further information:

Company
Strategic Minerals plc	[phone]
Paul Harrison, CEO	[phone]
Nominated Adviser/Joint Broker
Allenby Capital Limited
Jeremy Porter / James Reeve	[phone]
Joint Broker
Daniel Stewart & Company Plc
David Hart	[phone]
Financial Public Relations
GTH Communications Limited
Toby Hall / Suzanne Johnson Walsh	[phone]/7492

About Strategic Minerals

Strategic Minerals PLC (AIM: SML) is developing a portfolio of projects that provide near term production along with those that potentially offer longer term capital gains. Strategic Minerals currently holds iron ore stockpile assets in North America and exploration properties in Australia. The Company has commenced production at its first magnetite operation, the Cobre stockpile in New Mexico and is actively seeking to acquire and develop other projects within the same segment. www.strategicminerals.net

 

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