Ormonde Mining PLC Granting of Options (9420L)
07 October 2016 - 4:04AM
UK Regulatory
TIDMORM
RNS Number : 9420L
Ormonde Mining PLC
06 October 2016
6 October 2016
Ormonde Mining plc
("Ormonde", "Company" or the "Group")
Granting of Options
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:
PDMR Options granted Total Options
on held following
5 October grant
2016
Stephen Nicol (Director) 3,000,000 6,000,000
Paul Carroll 2,500,000 3,100,000
Enquiries to:
Ormonde Mining plc
Steve Nicol, Managing Director Tel: +353 (0)1 8253570
Capital M Consultants
Simon Rothschild Mob: +44 (0)7703 167065
Murray Consultants
Mark Brennock Tel: +353 (0)1 4980300 Mob: +353 (0)87 2335923
Davy Corporate Finance (Nomad / ESM Adviser, Joint Broker and
Financial Adviser)
Roland French / Barry Murphy Tel: +353 (0)1 6796363
SP Angel Corporate Finance LLP (Joint Broker)
Ewan Leggat Tel: +44 (0)20 3 470 0470
About Ormonde
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
END
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