Business
Board appointments and Issue of Options
Board appointments and Issue of Options.
About this update from Reabold Resources Plc
[{"type":"text","content":"\n \nRNS Number : 1356U Reabold Resources PLC 19 October 2017 \n\n \n\n\n\n\nFor immediate release\n\n\n19 October 2017\n\n\n\n\n \n\n\n \n\n\n\n\nReabold Resources plc\n(\"Reabold\" or the \"Company\")\n \nDirector Appointments\nIssue of Options\nReabold, the AIM listed investment company operating in the natural resources sector, is pleased to announce that Sachin Oza and Stephen Williams, the Joint Chief Executive Officers of the Company, have been appointed to the Board of Directors with immediate effect. Mr Oza and Mr Williams will now both be acting as Directors and Joint Chief Executive Officers.\nMr Oza and Mr Williams each hold 10,000,000 ordinary shares in the Company (or 0.65% of the Company's issued share capital each) which they acquired under the placing to raise £3.96 million announced on 20 September 2017 (the \"Placing\") and at the Placing price of 0.5 pence per Placing share (the \"Placing Price\"). \nFollowing the Placing and in connection with the appointment of Mr Oza and Mr Williams to the Board, the Company also advises that options over Ordinary Shares (the \"Options\") as set out below were granted on 19 October 2017 over a total of 190 million common shares representing 12.33% of the issued share capital of the Company and expire four years from the date of grant. \n\n\n\n\nExecutive\n\n\nPosition\n\n\nNew Options Issued\n\n\nExercise Price\n\n\nVesting Period\n\n\nExpiry\n\n\n\n\nSachin Oza\n\n\nCEO\n\n\n30,000,000\n30,000,000\n30,000,000\n\n\n0.50p\n0.75p\n1.00p\n\n\nImmediately\n12 months from grant\n18 months from grant\n\n\n19-Oct-21\n19-Oct-21\n19-Oct-21\n\n\n\n\nStephen Williams\n\n\nCEO\n\n\n30,000,000\n30,000,000\n30,000,000\n\n\n0.50p\n0.75p\n1.00p\n\n\nImmediately\n12 months from grant\n18 months from grant\n\n\n19-Oct-21\n19-Oct-21\n19-Oct-21\n\n\n\n\nAnthony Samaha\n\n\nFinance Director\n\n\n10,000,000\n\n\n0.5p\n\n\nImmediately\n\n\n19-Oct-21\n\n\n\n\n \nOf the 190m stock options: 70 million have an exercise price of 0.50p and vest immediately and are in line with both the Placing Price as set out above, and with the subscription price of a subsequent fund raising totalling £1.76 million announced on 2 October 2017; 60 million have an exercise price of 0.75p, representing a premium of 50% to the Placing Price and vest 12 mo...