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Griffin Mining Ld (GFM)

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Tuesday 20 November, 2018

Griffin Mining Ld

EXTENSION OF SHARE PURCHASE OPTIONS

RNS Number : 9456H
Griffin Mining Ld
20 November 2018
 

 

 

Griffin Mining Limited

 

8th Floor, 54 Jermyn Street, London, SW1Y 6LX. United Kingdom

Telephone: + 44 (0)20 7629 7772  Facsimile:  + 44 (0)20 7629 7773

E mail: [email protected]

 

Extension of Share Purchase Options

 

20th November 2018

Griffin Mining Ltd ("the Company") is pleased to announce, with the unanimous agreement of all the issued option holders, the extension of the exercise periods of share purchase options over:

1.   4,350,000 new ordinary shares (vested) exercisable at 40 pence per new ordinary share; and

2.   10,732,500 new ordinary shares (vested) exercisable at 30 pence per new ordinary share; and

3.   6,666,667 new ordinary shares (currently not vested) exercisable at 30 pence per new ordinary share

from 31st December 2018 in respect of the options exercisable at 40 pence per share and 31st December 2020 in respect of the options exercisable at 30 pence per share, to the 31st December 2022.

This will prevent the need in the short-term for the majority of the option holders, once exercising their options, to sell a significant portion of the resulting shares to meet the associated subscription costs and personal income tax liabilities imposed on such exercise.

Within the above the following persons discharging management responsibility have agreed to the extension of options in which they have an interest.

Name

Number of options exercisable at 40 pence per new ordinary share.

All vested

Number of options exercisable at 30 pence per new ordinary share. Vested

Number of options exercisable at 40 pence per new ordinary share. Unvested

Roger Goodwin

Finance director

500,000

1,000,000

500,000

Dal Brynelsen

Director

-

600,000

300,000

Rupert Crowe

Director

-

600,000

300,000

Adam Usdan

Director

-

-

1,166,666

Mark Hine

Chief operating Officer

-

125,000

125,000

 

 

 

 

 

 

 

 

Further information

 

Griffin Mining Limited

Mladen Ninkov - Chairman                               Telephone: +44(0)20 7629 7772

Roger Goodwin - Finance Director

 

Panmure Gordon (UK) Limited                                   Telephone: +44 (0)20 7886 2500

             Dominic Morley

           

 

 

Griffin Mining Limited's shares are quoted on the Alternative Investment Market (AIM) of the London Stock Exchange (symbol GFM).

The Company's news releases are available on the Company's web site: www.griffinmining.com


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
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