Grant Of Options

RNS Number : 6461Z

Independent Resources PLC

18 January 2011

 

Independent Resources plc

("IRG" or "the Company")

GRANT OF OPTIONS

Independent Resources plc (IRG:L) announces that is has granted the following options to certain directors of the Company as follows:

Director	No. of options
Grayson Nash	945,000
Roberto Bencini	945,000
Timothy James	285,000

All of the above options are exercisable at 43p per share and are subject to the following vesting criteria:

·     one third of the options vests if the average closing daily share price over the period 5 October 2011 to 4 October 2012 equals or exceeds 47.3p;

·     another third vests if the average closing daily share price over the period 5 October 2012 to 4 October 2013 equals or exceeds 52.03p; and

·     the final third vests if the average closing daily share price over the period 5 October 2013 to 4 October 2014 equals or exceeds 57.2p (one third of total shares).

These are the only outstanding options issued by the Company to the executive directors.

For further information, please visit www.ir-plc.com or contact:
Grayson Nash	Independent Resources plc	[phone]
Simon Hudson	Tavistock Communications	020 7920 3150
Lydia Eades		020 7920 3150
Jonathan Wright/ Stewart Dickson (Corporate Finance)	Seymour Pierce Limited	020 7107 8000
Richard Redmayne/David Banks (Corporate Broking)

 

END

 

 

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