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Landore Resources Ltd. (LON:LND)

Landore Resources Ltd. (LON:LND)


Share Price
1.13 p
Change
0 (0.00 %)
Market Cap
£11.77 m
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Landore Resources Ltd. RNS Release

Award of Share Options


RNS Number : 1440A
Landore Resources Limited
22 December 2017
 

 

 

LANDORE RESOURCES LIMITED

("Landore Resources" or "the Company")

(AIM Ticker: LND.L)

 

 

Award of Share Options

 

 

London, United Kingdom - December 22, 2017 - Landore Resources Limited (AIM:LND) ("Landore Resources" or "the Company") announces that a total of 5 million options over ordinary shares of no par value in the Company (the "New Share Options") ("Ordinary Shares") have been awarded to William Humphries, the Company's Chief Executive Officer. The award follows a highly successful year for Landore Resources including the updated Mineral Resource estimate for the BAM East Gold Deposit as announced on 11 December 2017.

 

The exercise price of the New Share Options is 2.2 pence, being a 10 per cent. premium to the price at which the Company completed its recent subscription as announced on 19 October 2017 and a 8.9 per cent. premium to the mid-market closing price of Company's Ordinary Shares on 21 December 2017. The New Share Options are not subject to any performance conditions and will expire 5 years from the date of the award.

 

Following the award of the New Share Options, there are currently 73,350,000 options over Ordinary Shares ("Share Options") outstanding. A summary of the Share Options held by the William Humphries is 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


4,500,000

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


10,000,000

5 July 2017

4 July 2022

3.2


5,000,000

22 December 2017

21 December 2022

2.2






 

PDMR Notification Forms:

The notifications below are made in accordance with the requirements of Market Abuse Regulation:

1.

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

William Humphries

2.

Reason for the Notification

a)

Position/status

Chief Executive Officer

b)

Initial notification/amendment

Initial notification

3.

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Landore Resources Limited

b)

LEI

21380019CJ5T1PNY3Q69

4.

Details of the transaction(s):section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

a)

Description of the Financial instrument, type of instrument

Ordinary shares of no par value each in the share capital of the Landore Resources Limited

Identification code

GB00B06VJ325

b)

Nature of the Transaction

Issue of options to acquire ordinary shares

c)

Price(s) and volume(s)

Price(s)

Volume(s)

2.2 pence

5,000,000

d)

Aggregated information

Aggregated volume Price

N/A (Single transaction)

e)

Date of the transaction

22 December 2017

f)

Place of the transaction

Outside a trading venue

 

 

 

- ENDS -

 

About Landore Resources

 

Landore Resources is an exploration company that seeks to grow shareholder value through the acquisition, exploration and development of precious and base metal projects in eastern Canada. The Company is primarily focused on the development of the Junior Lake Project. Landore Resources has mineral rights to 5 properties in eastern Canada. The Company is headquartered in Guernsey, with an exploration office located in Thunder Bay, Ontario, Canada.

 

 

For more information, please contact:

 

Bill Humphries, Chief Executive Officer           Tel: 07734 681262

Richard Prickett, Finance Director                   Tel: 07775 651421

Landore Resources Limited                             www.landore.com

 

Angela Hallett / James Spinney / Jack Botros  Tel: 020 7409 3494

Strand Hanson Limited

Nominated Advisor and Broker

 

This announcement contains inside information as defined in Article 7 of the Market Abuse Regulation No 596/2014.


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