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Sierra Rutile Ltd (SRX)

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Friday 04 November, 2011

Sierra Rutile Ltd

Exercise of Options and Directors' Dealings

RNS Number : 5613R
Sierra Rutile Limited
04 November 2011
 



Sierra Rutile Limited (the "Company")

 

Exercise of Options and Directors' Dealings

 

 

The Company received notices of exercise of options from option holders on the 3rd and 4th November. The Company issued 8,048,750 and 1,331,250 shares of no par value in the Company ("Ordinary Shares") (being 9,380,000 Ordinary Shares in aggregate) on 3rd and 4th November respectively pursuant to the exercise of share options.

 

Of these, the following directors of the Company exercised options over an aggregate 3,375,000 Ordinary Shares, and consequently sold the resultant shares at a share price of 30p per Ordinary Share:

 

Director

Number of options exercised

Date of grant

Exercise price

Number of Ordinary Shares held post exercise

% of Ordinary Share capital

Michael Barton*

750,000

3 March 2011

20p

Nil

0%

Michael Brown*

750,000

3 March 2011

20p

Nil

0%

Jan Castro*

1,125,000

3 March 2011

20p

Nil

0%

Francois Colette

750,000

3 March 2011

20p

Nil

0%

 

*Representatives of Pala Investment Holdings Limited 

 

Pursuant to the exercise of these options, the Company has made application to the London Stock Exchange for 9,380,000 new Ordinary Shares to be admitted to trading on AIM ("Admission"). It is expected that Admission will become effective on 10 November 2011.

 

Following this notification, the Company has 508,905,000 Ordinary Shares in issue.

 

 

For further information:

 

Sierra Rutile Limited                               www.sierra-rutile.com

John Sisay, Chief Executive Officer          Telephone: +44 (0) 20 7321 0000

 

Collins Stewart Europe Limited

John Prior/Adam Miller                           Telephone: +44 (0) 20 7523 8350

 

Aura Financial

Michael Oke/Andy Mills                          Telephone: +44 (0) 20 7321 0000

 


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