Directors' Dealings, Grant of Options & Issue of E

RNS Number : 9312X

URU Metals Limited

22 February 2012

 

22 February 2012

URU METALS LIMITED

Directors' Dealings, Grant of Options and Issue of Equity

Directors' Dealings and Grant of Options

The Board of Directors of URU Metals Limited ("URU Metals" or "URU" or "the Company") announces that on 21 February 2012 it awarded 1,850,000 options over ordinary shares of US$0.01 in the Company ("Options") to certain Directors and employees of URU Metals. The Options may not be exercised later than the tenth anniversary of the date of grant, vest equally over three years and are exercisable at 7 pence per share, being the mid-market closing price of the Company's ordinary shares of US$0.01 each on 20 February 2012.

The Options have been awarded as follows:

Name and title	Director/employee	Number of Options granted on 21/02/12
Paul Loudon Non-executive Chairman	Director	500,000
John Lynch Non-executive Director	Director	500,000
Roger Lemaitre Chief Executive Officer	Employee	500,000
Russel Swarts Chief Financial Officer	Employee	350,000
	TOTAL	1,850,000

Issue of Equity

The Board of Directors announces that on 21 February 2012 it issued 66,666 new ordinary shares of US$0.01 each in the Company, following the exercise of options by an employee of the Company. The options were exercised at a price of 4.88p per share.  

The new ordinary shares will rank pari passu with existing ordinary shares in the Company and application will be made for these new ordinary shares to be admitted to trading on AIM, which is expected to occur on or around 29 February 2012.
  
As a consequence of the exercise of share options as detailed above, the Company's issued share capital now comprises 113,276,722 ordinary shares of US$0.01 each. There are no ordinary shares held in treasury. Therefore the total number of voting rights in URU Metals is now 113,276,722. 

Contact details:

URU Metals Limited

Paul Loudon                              [phone]

John Lynch                                [phone]

Fairfax I.S. PLC (Nominated Adviser and Joint Broker)

Ewan Leggat/Laura Littley          [phone]

Daniel Stewart & Company Plc (Joint Broker)

Sean Lunn/Noelle Greenaway       [phone]

Brand: Mining IR

Dr Iestyn Adams/Andre Morrall   [phone]

 

END

 

 

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