Directors' Disclosure
29 November 2013
Iofina plc
("Iofina" or the "Company")
(LSE AIM: IOF)
Directors' Disclosure
Iofina, specialists in the exploration and production of iodine and iodine specialty chemical derivatives, announces a change in the beneficial ownership in the share capital of the Company for George Lantz, Chief Executive Officer, and Jeff Ploen, Non-Executive Deputy Chairman.
J. Paul Consulting, Inc. (a company in which Jeff Ploen has the sole beneficial interest) has granted to Mr Lantz 125,000 options over such number of ordinary shares in the capital of the Company held by J. Paul Consulting, Inc. with an exercise price per share of £1.51, being the closing share price on the day Mr Lantz joined the Company, with 33.3% of such options vested at grant date, and 33.3% to vest at each of 19 September 2014 at 19 September 2015.
Lance Baller, the former Chief Executive Officer of IOF, has granted to Mr Lantz 125,000 options over such number of ordinary shares in the capital of the Company held by Mr Baller with an exercise price per share of £1.51, being the closing share price on the day Mr Lantz joined the Company, with 33.3% of such options vested at grant date, and 33.3% to vest at each of 19 September 2014 at 19 September 2015.
Following the grant of options the revised holdings of Mr Lantz and Mr Ploen are set out below:
|
Director |
Number of Shares |
% of issued share capital |
Total Number of Shares Under Option |
Exercise Price |
|
George Lantz |
26,433 |
0.02 |
500,000 |
151p |
|
|
|
|
|
|
|
Jeff Ploen |
9,400,000* |
7.39 |
Nil |
|
* Includes 1,200,000 Shares held by J Paul Consulting, Inc.
Each of J Paul Consulting, Inc. and Lance Baller is prohibited from selling the aforementioned number of shares as are required to satisfy their undertaking to Mr Lantz. The Company is not a party to the arrangements agreed between Mr Ploen, Mr Baller and Mr Lantz respectively, both of which are private transactions agreed between them.
For further information, please contact:
Gary Gatchell, Finance Director
Tel: +44 (0) 20 3006 3135
Simon Holden, Company Secretary
Tel: +44 (0) 7800 500 097
Iofina plc
www.iofina.com
Ben Colegrave/Chris Sim/James Rudd
Investec
Tel: +44(0)20 7597 5970
Media Contact:
Dominic Barretto/Anna Legge
Yellow Jersey PR Limited
Tel: +44(0) 7768 537 739
About Iofina
Iofina specializes in the exploration and production of iodine, iodine specialty chemical derivatives, produced water and natural gas. Iofina's business strategy is to identify, develop, build, own and operate iodine extraction plants currently focused in North America based on Iofina's WET® IOsorb™ technology. Iofina has iodine production operations in the United States, specifically in Texas, California, Montana, Oklahoma and Wyoming. The Group has complete vertical integration from the production of iodine in the field to the manufacture of the chemical end products derived from iodine to the consumer and the recycling of iodine using iodinated side-streams from waste chemical processes in Europe, North America and Asia. The Group utilizes its portfolio of patented and patent pending technology, proprietary methods and trademarks throughout all business lines.
This information is provided by RNS
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