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Grant of Options

RNS Number : 1523M
African Potash Ltd
11 July 2014
 



African Potash Limited / Index: AIM / Epic: AFPO / Sector: Mining

11 July 2014

African Potash Limited

('African Potash' or 'the Company')
Grant of Options

 

African Potash (AIM:AFPO), the AIM listed exploration company focused on sub-Saharan potash assets, announces that it has granted options to subscribe (the "Options") for a total of 26,849,358 new ordinary shares of no par value each in the Company ("Ordinary Shares") to the directors and certain other key personnel.

 

As disclosed previously, Options were issued on 14 November 2012 under the Company's Share Option Scheme (adopted by the Board on 26 September 2011) and held unallocated, to be used at the Board's direction (as management/staff incentives). These Options have now been allocated as follows:

 

Name

 

No. of Options granted

Exercise Price

Exercise Period

Simon Dorling

1,000,000

3p

14 November 2013 - 13 November 2018

Edward Marlow

1,000,000

3p

14 November 2013 - 13 November 2018

Andrew Groves

500,000

3p

14 November 2013 - 13 November 2018

Jean-Pierre Conrad

500,000

3p

14 November 2013 - 13 November 2018

Neil Clayton

350,000

3p

14 November 2013 - 13 November 2018


3,350,000



 

In addition, the following new Options have also been granted:

 

Name

 

No. of Options granted

Exercise Price

Exercise Period

Simon Dorling

2,000,000

 4p

11 July 2014 - 11 July 2020

Edward Marlow

3,000,000

4p

11 July 2014 - 11 July 2020

Andrew Groves

1,000,000

4p

11 July 2014 - 11 July 2020

Jean-Pierre Conrad

1,000,000

4p

11 July 2014 - 11 July 2020

Other employees and consultants

8,000,000

4p

11 July 2014 - 11 July 2020

To be held unallocated and used at the Board's discretion (as management/staff incentives)

8,499,358




23,499,358



 

 

Details of the directors' holdings of Ordinary Shares and Options are as follows:

 

Name

 

No. of Options

No. of Existing Ordinary Shares

Simon Dorling

3,000,000

-

Edward Marlow

4,000,000

16,578,947

Andrew Groves

1,500,000

15,526,316

Jean-Pierre Conrad

1,500,000

526,316

 

The total number of Options now outstanding over Ordinary Shares is 28,499,358 representing 10 per cent. of the Company's total issued share capital.

 

 

* * ENDS * *

 

 

For further information visit www.africanpotash.com or contact the following:

Ed Marlow

African Potash Limited

+44 (0) 20 7408 9200      

Stewart Dickson  (Corporate Finance)

Cantor Fitzgerald Europe

+44 (0) 20 7894 7000      

David Foreman (Corporate Finance)

Cantor Fitzgerald Europe

+44 (0) 20 7894 7000      

Jeremy Stephenson (Corporate Broking)

Cantor Fitzgerald Europe

+44 (0) 20 7894 7000      

Richard Greenfield

GMP Securities Europe LLP

+44 (0) 20 7647 2836      

Susie Geliher

St Brides Media & Finance Ltd

+44 (0) 20 7236 1177      

Charlotte Heap

St Brides Media & Finance Ltd

+44 (0) 20 7236 1177      

 

About African Potash

 

African Potash was established to invest in/acquire potash assets or projects in sub-Saharan Africa. The Directors believe the fundamentals of the global potash market, a key source of potassium fertiliser, represent a compelling opportunity to create shareholder value.

 

The Company is currently focused on the Lac Dinga Project in the Republic of Congo and has a highly experienced Board with a proven track record in identifying, operating and developing resource projects in Africa.

 

 


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