Polo Resources Limited AWARD OF SHARE OPTIONS (7370S)
27 June 2018 - 6:26PM
UK Regulatory
TIDMPOL
RNS Number : 7370S
Polo Resources Limited
27 June 2018
27 June 2018
Polo Resources Limited
("Polo" or the "Company")
AWARD OF SHARE OPTiONS
Polo Resources Limited (AIM: POL), the multi-sector investment
company with interests in oil, gold, coal, copper, phosphate,
lithium, iron and vanadium, announces the award of a total of 27.5
million options over ordinary shares in the Company ("Options") to
its management, including its Executive Chairman which is
consistent with the Board's authority in accordance with the rules
of the Company's Share Option Plan as approved by shareholders on
25 January 2017.
The Options are exercisable at 4.5 pence per share, representing
a premium of 20% over the closing price on 25 June 2018 and may
only be exercised in three tranches as set out below:
-- as to one third from 1 July 2018;
-- as to one third from 1 July 2019; and
-- as to one third from 1 July 2020.
Number of Exercise Expiry
options price
Datuk Michael Tang PJN 20,000,000 4.50p 1 July 2028
Mei Ling Yeung 7,500,000 4.50p 1 July 2028
Following the grant of the Options, the total number of options
over ordinary shares outstanding is 27,500,000 representing
approximately 8.82 per cent. of the Company's issued share
capital.
The Directors of the Company, other than Michael Tang, consider,
having consulted with the Company's nominated adviser, Allenby
Capital Limited, that the terms of the grant of Options to Michael
Tang are fair and reasonable insofar as shareholders are
concerned.
For further information, please contact:
Polo Resources Limited
- Kudzayi Denenga, Investor Relations +27 (0) 787 312 919
Allenby Capital Limited (Nominated
adviser & joint broker)
- John Depasquale +44 (0)20 3328 5657
Liberum Capital (Joint broker)
- Henry Freeman +44 (0) 20 3100 2000
Blytheweigh (Public relations)
- Tim Blythe, Camilla Horsfall, Simon
Woods +44 (0) 207 138 3204
About the Company
Polo Resources Limited is a multi-sector investment company
focused on investing in undervalued companies and projects with
strong fundamentals and attractive growth prospects. For complete
details on Polo, please refer to: www.poloresources.com.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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