Business
EXTENSION OF SHARE PURCHASE OPTIONS
EXTENSION OF SHARE PURCHASE OPTIONS.
About this update from Griffin Mining Limited
[{"type":"text","content":"\n \nRNS Number : 9456H Griffin Mining Ld 20 November 2018 \n\n \n \nGriffin Mining Limited\n \n8th Floor, 54 Jermyn Street, London, SW1Y 6LX. United Kingdom\nTelephone: + 44 (0)20 7629 7772 Facsimile: + 44 (0)20 7629 7773\nE mail: [email protected]\n \nExtension of Share Purchase Options\n \n20th November 2018\nGriffin Mining Ltd (\"the Company\") is pleased to announce, with the unanimous agreement of all the issued option holders, the extension of the exercise periods of share purchase options over:\n1. 4,350,000 new ordinary shares (vested) exercisable at 40 pence per new ordinary share; and\n2. 10,732,500 new ordinary shares (vested) exercisable at 30 pence per new ordinary share; and\n3. 6,666,667 new ordinary shares (currently not vested) exercisable at 30 pence per new ordinary share\nfrom 31st December 2018 in respect of the options exercisable at 40 pence per share and 31st December 2020 in respect of the options exercisable at 30 pence per share, to the 31st December 2022.\nThis will prevent the need in the short-term for the majority of the option holders, once exercising their options, to sell a significant portion of the resulting shares to meet the associated subscription costs and personal income tax liabilities imposed on such exercise. \nWithin the above the following persons discharging management responsibility have agreed to the extension of options in which they have an interest.\n\n\n\n\nName\n\n\nNumber of options exercisable at 40 pence per new ordinary share. \nAll vested\n\n\nNumber of options exercisable at 30 pence per new ordinary share. Vested\n\n\nNumber of options exercisable at 40 pence per new ordinary share. Unvested\n\n\n\n\nRoger Goodwin\nFinance director\n\n\n500,000\n\n\n1,000,000\n\n\n500,000\n\n\n\n\nDal Brynelsen\nDirector\n\n\n-\n\n\n600,000\n\n\n300,000\n\n\n\n\nRupert Crowe\nDirector\n\n\n-\n\n\n600,000\n\n\n300,000\n\n\n\n\nAdam Usdan \nDirector\n\n\n-\n\n\n-\n\n\n1,166,666\n\n\n\n\nMark Hine\nChief operating Officer\n\n\n-\n\n\n125,000\n\n\n125,000\n\n\n\n\n \n \n \n \n \n \n \n \nFurther information\n \nGriffin Mining Limited\nMladen Ninkov - Chairman ...