Business
Michael Foster Options Awards
Michael Foster Options Awards.
About this update from Arc Minerals Limited
[{"type":"text","content":"\n \nRNS Number : 5963F Arc Minerals Limited 30 October 2018 \n\nArc Minerals Ltd / Epic: ARCM / Market: AIM / Sector: Mining & Exploration\n \n \n30 October 2018\nArc Minerals Ltd \n('Arc' or the 'Company')\n \nMichael Foster Options Awards\n \nArc Minerals announces that Mr Michael Foster, a non-executive director of the Company has been awarded share options in Arc in lieu of cash remuneration for services rendered with respect to Casa Mining Limited (\"Casa\"). \nMr Foster has been issued options over a total of 1.2 million new ordinary shares of no par value (\"Ordinary Shares\") of the Company (\"Share Options\") which have an exercise price of 4.5 pence per Ordinary Share representing an approximate 34% premium over the closing mid-market price of 3.35p Ordinary Shares on 29 October 2018. The Share Options are exercisable from 29 October 2018 and expire on 30 October 2021. \nFollowing the above grant, there are a total of 37,048,710 share options granted over unissued Ordinary Shares granted to Directors and employees of the Company, representing approximately 5.87% of the Company's current issued Ordinary Share capital of 630,843,391 Ordinary Shares.\nNick von Schirnding commented \"I am pleased that Michael has elected to take options in lieu of fees for his work at the Misisi project where we delineated a 3-million-ounce gold Resource earlier this year.\" \n \n \n**ENDS**\n \nContacts\n \n\n\n\n\nArc Minerals Ltd\nNick von Schirnding (Chairman)\n \n\n\n+44 (0) 20 3874 8664\n\n\n\n\nSP Angel (Nominated Adviser & Broker)\nEwan Leggat / Lindsay Mair / Soltan Tagiev\n\n\n+44 (0) 20 3470 0470\n \n \n\n\n\n\n \n \nNotes to the Editors\nArc Minerals is an AIM listed exploration and mine development company focused on a diversified portfolio of mining projects with interests in Slovakia, Eritrea, the Democratic Republic of the Congo and Zambia. \n \nARC Minerals current holdings include:\n· 100% interest in CASA Mining Limited, a private company that has a 71.25% interest in the 3-million-ounce inferred Resource Akyanga gold deposit in the DRC.\n· A 66% equity interest in Zamsort Limited (\"Zamsort\"), a private company focused on a prospective copper and cob...