Emed Mining - Issue of Share Options
24-12-2009

The Board of EMED Mining Public Limited (“EMED Mining” or the “Company”) is pleased to announce that in accordance with the Company share option scheme, at its board meeting on 22nd December 2009 it allocated 10,000,000 share options, subject to shareholder approval. 

The Company’s share price at that date was 10.75p. 

Approval for the grant of such options will be sought from shareholders at the Company’s next general meeting.

The 10,000,000 share options have been allocated at an exercise price of 13.4p (based on a 20% premium over the weighted average share price from 1 December to the close of trading on 23 December) and expire 4 years from the date of issue.

The 10,000,000 share options have been allocated as follows –

• 1,800,000 share options to the Managing Director;
• 1,200,000 share options to the Finance Director;
• 600,000 share options to the Chairman;
• 367,000 share options to each of the Non Executive Directors; 
• The remaining 6,033,000 share options to other employees and consultants within the EMED Mining Group. 

The options have been issued as part of the Company’s incentive option scheme.

ENDS

ENQUIRIES

Bishopsgate Communications
Nick Rome

Click here to return to the press release archive