Ormonde Mining plc announces that on 5 October 2016 the Company granted options ("Options") over 5,950,000 ordinary shares in the capital of the Company ("Ordinary Shares") to certain employees, including PDMRs, of the Group pursuant to the Company's 2006 Share Option Plan.
The PDMRs options will vest in three tranches, with the first tranche vesting as at 5 October 2016 and the remaining Options vesting on the first and second anniversary of the date of grant of the Options.
The exercise price for each option is Euro 0.025, being the nominal value of each Ordinary Share (the minimum price at which the Company can issue shares; being higher than the closing price of an Ordinary Shares on the ESM Market of the Irish Stock Exchange on 5 October 2016, of Euro 0.022).
Details of the PDMR option awards are included below:
Roland French / Barry Murphy Tel: +353 (0)1 6796363
SP Angel Corporate Finance LLP (Joint Broker)
Ewan LeggatTel:+44 (0)20 3 470 0470
Ormonde Mining plc is admitted to trading on the AIM market in London and the ESM market in Dublin and is a mineral development and exploration company focused on Spain (Ticker: ORM). In partnership with funds managed by Oaktree Capital Management ("Oaktree") through the joint venture company Barruecopardo JV BV (Ormonde 30% / Oaktree 70%), the parties are developing a low cost tungsten mining operation at Barruecopardo in Salamanca Province to become a major European supplier of tungsten. Ormonde also has other exploration projects for gold and copper.
This information is provided by RNS
The company news service from the London Stock Exchange
Create your account: sign up and get ahead on news and events
NO INVESTMENT ADVICE
The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...
Ormonde Mining managing director Steve Nicol sat down with Proactive Investors to talk us through the busy phase of work currently underway as the development of the Barruecopardo tungsten mine progresses towards completion.
Fully funded, fully permitted and on track for a 2017 start up,...