Business
GRANT OF OPTIONS
GRANT OF OPTIONS.
About this update from Ecr Minerals Plc
[{"type":"text","content":"\n\n \n \n \n GRANT OF OPTIONS\n \n \n\n \n ECR Minerals plc\n \n \n\n \n \n \n ECR MINERALS plc\n \n \n (“ECR Minerals”, “ECR” or the “Company”)\n \n \n AIM: ECR\n \n \n US OTC: MTGDY\n \n \n GRANT OF OPTIONS\n \n \n LONDON: 12 AUGUST 2013\n \n \n ECR Minerals plc announces the grant of 130 million share options (the \n “Options”) to directors, staff and consultants. The Options have been \n granted under the Company’s unapproved share option plan (the “Option \n Plan”).\n \n \n Each Option is exercisable to acquire one ordinary share of the Company \n at a price of 0.2p per share. The Options will remain valid, subject to \n the rules of the Option Plan, until the fifth anniversary of the date of \n grant. The Options will vest immediately.\n \n \n The exercise price of the Options equates to a premium of approximately \n 40% to the closing mid-market price of the Company’s shares on AIM on 9 \n August 2013.\n \n \n Options have been granted to directors of the Company as follows:\n \n \n \n \n Stephen Clayson\n \n \n \n \n \n 55,045,872 Options\n \n \n \n \n Paul Johnson\n \n \n \n \n 27,522,936 Options\n \n \n \n \n Richard Watts\n \n \n \n \n 19,816,514 Options\n \n \n \n \n Paul Johnson, Non-Executive Chairman of ECR, commented:\n \n \n “The award of these Options is intended to reflect the hard work to date \n on the part of the board and other members of the ECR team, as well as \n the success of the Company’s restructuring and renaissance. Even more \n importantly, the Options provide an added incentive to maintain the same \n level of commitment and determination to drive the business forward for \n the benefit of shareholders.”\n \n \n ABOUT ECR MINERALS PLC\n \n \n ECR is a mineral development company with, among other interests, the \n right to earn a 50% interest in the Itogon gold-silver project in the \n Philippines. The Itogon project is an advanced exploration project \n located in a gold and copper mining district on the island of Luzon in \n the north of the Philippines, and benefits from an extensive historical \n dataset.\n \n \n The Company also has 100% ownership of the Sierra de las Minas gold \n project in La Rioja Province, Argentina; and a substantial minority \n stake in THEMAC Resources Group Ltd (TSX-V: MAC), which is focused on \n the development of the Copper Flat copper-molybdenum-gold-sil...