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Sierra Rutile Ltd (SRX)

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Tuesday 22 November, 2011

Sierra Rutile Ltd

Exercise of Options and Director's Dealings

RNS Number : 5754S
Sierra Rutile Limited
22 November 2011
 



Sierra Rutile Limited (the "Company")

 

Exercise of Options and Director's Dealings

 

 

The Company received notices of exercise of options from option holders on the 20th November. The Company issued 250,000 and 100,000 shares of no par value in the Company ("Ordinary Shares") (being 350,000 Ordinary Shares in aggregate) on 20th November pursuant to the exercise of share options.

 

Of these, the following director of the Company exercised options over 250,000 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

Francois Colette

250,000

3 March 2011

20p

Nil

0%

 

 

Pursuant to the exercise of these options, the Company has made application to the London Stock Exchange for 350,000 new Ordinary Shares to be admitted to trading on AIM ("Admission"). It is expected that Admission will become effective on 28 November 2011.

 

Following Admission, the Company will have 509,255,000 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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