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Landore Resources Ltd

Landore Resources Ld - Award of Share Options

RNS Number : 0173C
Landore Resources Limited
23 June 2016
 

 

23 June 2016

 

 

LANDORE RESOURCES LIMITED

("Landore Resources" or the "Company")

 

Award of Share Options

 

Landore Resources (AIM: LND) announces that, on 22 June 2016, a total of 20,750,000 options over ordinary shares of no par value in the Company (the "New Share Options") ("Ordinary Shares") were awarded to the Directors and certain other members of the Company's management.

The exercise price of the New Share Options is 1.80 pence per New Share Option, which is equivalent to the mid-market closing price of the Ordinary Shares on 22 June 2016. The New Share Options are not subject to any performance conditions and will expire 5 years from the date of award.

Details of the New Share Options awarded are set out below:

Name

No. of New Share Options

Exercise price (p)

Date of expiry

William Humphries

7,000,000

1.80

22 June 2021

Richard Prickett

6,000,000

1.80

22 June 2021

Michele Tuomi

6,000,000

1.80

22 June 2021

Charles Wilkinson

500,000

1.80

22 June 2021

Helen Green

500,000

1.80

22 June 2021

Others

750,000

1.80

22 June 2021

 

The New Share Options are partial compensation for the Directors and senior management whose remuneration was significantly reduced in order to secure the Company's ability to survive in very challenging market conditions and whose loyalty was justified by the significant gold discovery at Junior Lake, as announced on 4 April 2016.

 

Commenting on today's announcement, Charles Wilkinson, Non-Executive Chairman of Landore Resources, said:

 

"For the past two years the Directors, Management and staff have all contributed over and above normal expectations to ensure the Company's survival and continued progress in the difficult times experienced throughout the mining industry. The award of the New Share Options is recognition of their significant commitment and perseverance which resulted in the recently announced gold discovery at Junior Lake."

 

Following the award of the New Share Options, there are currently 65,850,000 options over Ordinary Shares ("Share Options"). A summary of the Share Options held by the Directors and management are set out below:

 


No. of Share Options granted

Date Share Options awarded

Date Share Options expire

Exercise price (p)

William Humphries

1,000,000

28 October 2009

28 October 2019

14.0


4,000,000

6 July 2011

06 July 2016

16.1


1,000,000

20 March 2012

20 March 2017

7.9


1,500,000

26 September 2012

26 September 2017

7.4


4,500,000

1 July 2013

1 July 2018

5.0


5,000,000

25 November 2013

25 November 2018

2.5


4,500,000

21 July 2014

21 July 2019

3.5


7,000,000

22 June 2016

22 June 2021

1.8






Richard Prickett

2,500,000

6 July 2011

6 July 2016

16.1


1,000,000

20 March 2012

20 March 2017

7.9


1,500,000

26 September 2012

26 September 2017

7.4


2,000,000

1 July 2013

1 July 2018

5.0


3,000,000

25 November 2013

25 November 2018

2.5


2,500,000

21 July 2014

21 July 2019

3.5


6,000,000

22 June 2016

22 June 2021

1.8






Michele Tuomi

400,000

6 July 2011

6 July 2016

16.1


500,000

20 March 2012

20 March 2017

7.9


500,000

4 July 2012

4 July 2017

6.5


400,000

26 September 2012

26 September 2017

7.4


1,000,000

25 November 2013

25 November 2018

2.5


500,000

21 March 2014

21 March 2019

2.2


1,500,000

21 July 2014

21 July 2019

3.5


6,000,000

22 June 2016

22 June 2021

1.8






Charles Wilkinson

250,000

6 July 2011

6 July 2016

16.1


250,000

26 September 2012

26 September 2017

7.4


500,000

1 July 2013

1 July 2018

5.0


250,000

25 November 2013

25 November 2018

2.5


250,000

21 July 2014

21 July 2019

3.5


500,000

22 June 2016

22 June 2021

1.8






Helen Green

250,000

6 July 2011

6 July 2016

16.1


250,000

26 September 2012

26 September 2017

7.4


250,000

25 November 2013

25 November 2018

2.5


250,000

21 July 2014

21 July 2019

3.5


500,000

22 June 2016

22 June 2021

1.8

 

 

**ENDS**

 

Enquiries:

 

Bill Humphries/Richard Prickett

Landore Resources Limited

M: +44(0)7734 681262

M: +44(0)7775 651421

 

 

James Spinney/Jack Botros

Strand Hanson Limited

Nominated Adviser and Broker

Tel: +44(0)20 7409 3494

 


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