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Sierra Rutile Ltd (SRX)

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Thursday 03 March, 2011

Sierra Rutile Ltd

Grant of Share Options

RNS Number : 3111C
Sierra Rutile Limited
03 March 2011
 



Sierra Rutile Limited

 

Grant of Share Options

 

 

3 March 2011: The Board of Sierra Rutile Limited ("SRL") announces that on 3 March 2011 it granted options over 15,700,000 common shares of nil par value in SRL ("Shares") to  senior management employees and directors of SRL.

 

The options were granted pursuant to SRL's Share Option Plan, and are exercisable at 20p per share from the date of vesting. The options will vest quarterly in four equal portions, on 31 March 2011, 30 June 2011, 31 September 2011 and 31 December 2011, subject to continued employment with SRL. The options will expire on the third anniversary of grant.

 

Options granted were as follows:

 


Options Granted

Total Options Held




Executive Director



John Sisay

4,630,000

4,730,000




Non-Executive Directors



Jan Castro, Chairman

1,500,000

1,500,000

Alex Kamara

1,000,000

1,000,000

François Colette

1,000,000

1,000,000

Mike Brown

1,000,000

1,000,000

Mike Barton

1,000,000

1,000,000

Charles Entrekin

1,000,000

1,000,000




Senior management

4,570,000

4,695,000

 

Including the options as detailed above, the total number of outstanding vested and unvested options as of 3 March 2011 is 15,925,000.

 

 

 

ENDS

 

 

 

For further information:

 

 Sierra Rutile Limited

John Sisay, Chief Executive

Telephone: +44 (0) 207 321 0000

 

Arbuthnot Securities

Nominated Adviser & Joint Broker

Hugh Field / Richard Johnson

Telephone: +44 (0) 20 7012 2000

 

Mirabaud Securities LLP

Joint Broker

Peter Krens

Telephone: +44 (0) 20 7321 2508

 

Aura Financial

Andy Mills / Harry Cameron

Telephone: +44 (0) 207 321 0000


This information is provided by RNS
The company news service from the London Stock Exchange
 
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