Metals Exploration PLC
08 November 2005
METALS EXPLORATION PLC
GRANT OF WARRANTS
8 November 2005
The Board of Metals Exploration plc announces that on 3 November 2005, it
granted warrants to certain directors (and their related parties) and third
parties to subscribe for up to 5,800,000 ordinary shares. Each warrant entitles
the holder to subscribe for one ordinary share of 1 pence each in the capital of
the Company.
In accordance with Rule 17 of the AIM Rules the Company discloses that warrants
have been granted to the following directors (and their related parties) on the
principle terms and conditions as set out below:
Warrant Holder Exercise Exercise Period Number of Total Number of
Price Warrants Warrants held by
Granted Director or Related
Party post-grant
Gary Powell 12p 7 years from date of grant 1,000,000 1,500,000
40p 7 years from date of grant 500,000
Reef Securities Limited (a 20p 7 years from date of grant 1,000,000 2,500,000
related party to Steven
Smith) 40p 7 years from date of grant 500,000
Philip Barnett 20p 7 years from date of grant 500,000 2,000,000
40p 7 years from date of grant 500,000
Additionally warrants were granted to the following third parties:
Warrant Holder Exercise Exercise Period Number of Total Number of
Price Warrants Warrants post-grant
Granted
Ennismore Consultants 20p 7 years from date of grant 1,000,000 2,500,000
Limited 40p 7 years from date of grant 500,000
Mobfi S.A. 12p 2 years from date of grant 300,000 520,960
Enquiries:
Steven Smith: Chairman + 44 (0) 7797 721858
Jonathan Anderson: Investor Relations + 44 (0) 7950 410680
Philip Hayden-Slater: WH Ireland Limited + 44 (0) 2072 201666
This information is provided by RNS
The company news service from the London Stock Exchange