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Polo Resources Ltd (POL)

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Friday 30 March, 2012

Polo Resources Ltd

Issue of Share Options

RNS Number : 4813A
Polo Resources Limited
30 March 2012
 



30  March 2012

 

 

Polo Resources Limited

 

("Polo", "Polo Resources" or the "Company")

 

 

ISSUES OF SHARE OPTIONS

 

 

Polo Resources Limited (AIM and TSX: POL), announces the issue of share options as part of an ongoing programme of incentives for its employees and key consultants.

 

Following the recommendation of the Remuneration Committee, Polo has agreed to grant additional share options under the Polo Resources Limited Share Option Plan at an exercise price of 4 pence per share to the Directors and Approved Grantees (as defined in the Share Plan Rules) of the Company as follows:

 

Share options


Stephen R. Dattels

20,000,000

Neil L. Herbert

20,000,000

Ian Burns

10,000,000

Guy Elliott

  5,000,000

Ian Stalker

  5,000,000

James Mellon

  5,000,000

Bryan Smith

  5,000,000

Approved Grantees

18,500,000

 

TOTAL

88,500,000

 

 

The above options will vest equally over three years or earlier where performance related conditions have been achieved and will be exercisable pursuant to and on the terms of the Polo Resources Limited Share Plan 2008 Rules. The options must be exercised no later than 12 months after the first anniversary of vesting after which they will lapse.

 

Following the grant listed above, the total issued share capital of the Company is 2,294,086,098 shares and 2,447,086,098 fully diluted shares. Polo has 153,000,000 shares under option representing 6.67 per cent. of the current issued share capital. Following the above the directors of Polo (together with their family as defined in the AIM Rules for Companies) will have the following interests in the Company:

 

Director's interest

Ordinary Shares held

% of Issued share capital

Total Share Options

Stephen R. Dattels

224,040,835

9.77

40,000,000

Neil L. Herbert

81,385,625

3.55

40,000,000

Ian Burns

-

0.0

10,000,000

Guy Elliott

10,000,000

0.44

10,000,000

Ian Stalker

5,895,000

0.26

10,000,000

James Mellon

24,500,000

1.07

10,000,000

Bryan Smith

10,581,241

0.46

10,000,000





TOTAL

356,402,701

15.54

130,000,000

 

  

For further information, please contact:

 

Polo Resources Limited

Ian Burns, Finance Director

+ 2782 404 36 37



Evolution Securities

Chris Sim, Neil Elliot, George Price

+44 (0) 20 7071 4300



Liberum Capital

Chris Bowman, Tim Graham

+44 (0) 20 3100 2228



Blythe Weigh Communications

Tim Blythe, Matthew Neal, Robert Kellner

+44 (0) 207 138 3204

 



Toronto

Borden Ladner Gervais LLP

Jeffery Barnes, Terence Lui

 

+1 416 367 6229



 

About the Company

Polo Resources is a natural resources investment company focused on investing in undervalued companies and projects with strong fundamentals and attractive growth prospects. For complete details on Polo Resources: www.poloresources.com.

 

 

CAUTIONARY STATEMENT

 

The AIM Market of London Stock Exchange plc does not accept responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. All statements, other than statements of historical fact, in this news release are forward-looking statements that involve various risks and uncertainties, including, without limitation, statements regarding potential values, the future plans and objectives of Polo Resources Limited. There can be no assurance that such statements will prove to be accurate, achievable or recognizable in the near term.

 

Actual results and future events could differ materially from those anticipated in such statements. These and all subsequent written and oral forward-looking statements are based on the estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. Polo Resources Limited assumes no obligation to update forward-looking statements should circumstances or management's estimates or opinions change.

 


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