London Mining - Grant of Options
(Thomson Reuters ONE) - London Mining announces that it has granted options over 3,620,000Ordinary Shares at exercise prices ranging from GBP 1.31 to GBP 1.61per Ordinary Share to certain Directors and employees under the termsof the London Mining plc No.1 Share Option Plan (the "Share OptionPlan") and nil-cost option awards over 250,000 Ordinary Shares tocertain employees under the terms of the London Mining Long-TermIncentive Plan (the "LTIP").Subject to continued employment with the Company, Directors andemployees may exercise one-third of their options on the first,second and third anniversaries of their respective exercise dates andthe LTIP awards on the third anniversary of such date. Any optionsthat are not exercised by 1 July 2019 will lapse. Further details ofthe Share Option Plan and the LTIP are set out in the Prospectusdated 24 September 2007 which is available on the Company's website(www.londonmining.co.uk).The grants include grants to the following primary insiders: GraemeHossie (Managing Director), Rachel Rhodes (Finance Director),Benjamin Lee (Head of Corporate Development), Rohit Bhoothalingam(Head of Legal) and Thomas Credland (Head of Investor Relations). Allof the options and LTIP awards granted to primary insiders (with theexception of options granted to Rachel Rhodes) are connected to therecruitment or appointment of the primary insiders into their currentroles.Graeme Hossie received an option under the terms of the Share OptionPlan over 1,500,000 Ordinary Shares at an exercise price of GBP 1.31per Ordinary Share. Graeme Hossie may exercise one-third of hisoptions today and, subject to continued employment with the Company,one-third of his options on 9 February 2010 and one-third of hisoptions on 9 February 2011. Following the grant, Graeme Hossie,together with his close associates, has options over 3,000,000Ordinary Shares pursuant to the Share Option Plan, 4,718,884 OrdinaryShares pursuant to the LTIP and has a beneficial interest in3,750,000 Ordinary Shares.Rachel Rhodes received an option under the terms of the Share OptionPlan over 500,000 Ordinary Shares at an exercise price of GBP 1.31per Ordinary Share. Subject to continued employment with theCompany, Rachel Rhodes may exercise one-third of her options on 24April 2010 and one-third of her options on each of the first andsecond anniversaries of 24 April 2010. Following the grant, RachelRhodes has options over 1,000,000 Ordinary Shares pursuant to theShare Option Plan and 314,592 Ordinary Shares pursuant to the LTIP.Benjamin Lee received an option under the terms of the Share OptionPlan over 250,000 Ordinary Shares at an exercise price of GBP1.31 perOrdinary Share and a nil-cost option award over 100,000 OrdinaryShares under the terms of the LTIP. Subject to continued employmentwith the Company, Benjamin Lee may exercise one-third of his optionson 1 April 2010 and one-third of his options on each of the first andsecond anniversaries of 1 April 2010. Subject to continued employmentwith the Company, Benjamin Lee may exercise all of his LTIP awards on1 April 2012.Rohit Bhoothalingam received an option under the terms of the ShareOption Plan over 150,000 Ordinary Shares at an exercise price of GBP1.61 per Ordinary Share and a nil-cost option award over 150,000Ordinary Shares under the terms of the LTIP. Subject to continuedemployment with the Company, Rohit Bhoothalingam may exerciseone-third of his options on 8 December 2009 and one-third of hisoptions on each of the first and second anniversaries of 8 December2009. Subject to continued employment with the Company, RohitBhoothalingam may exercise all of his LTIP awards on 8 December 2011.Thomas Credland received an option under the terms of the ShareOption Plan over 100,000 Ordinary Shares at an exercise price of GBP1.31 per Ordinary Share. Subject to continued employment with theCompany, Thomas Credland may exercise one-third of his options on 16March 2010 and one-third of his options on each of the first andsecond anniversaries of 16 March 2010.For more information, please contact:London Mining PlcThomas Credland, Head of Investor Relations +44 (0) 20 7201 5000Crux Kommunikasjon ASCharlotte Knudsen +47 97 56 19 59About London MiningFounded in April 2005, London Mining is incorporated and registeredin the UK. In 2007, London Mining raised over USD 185 million toadvance iron ore production from its projects, and listed on the OsloAxess, a marketplace regulated by the Oslo Stock Exchange. In 2008,it sold its Brazilian mine to Arcelor Mittal for USD 810 million andreturned GBP 220 million to shareholders. The Company currently hasiron ore projects and mines in China, Sierra Leone, Saudi Arabia andGreenland, and coal assets in South Africa and Colombia. LondonMining trades under the Reuters symbol LOND.OL and Bloomberg symbolLOND:NO.http://hugin.info/137683/R/1333280/316010.pdfThis announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
Datum: 06.08.2009 - 22:08 Uhr
Sprache: Deutsch
News-ID 4452
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