Archipelago Resources PLC Exercise of Options (7540P)

TIDMAR.

RNS Number : 7540P

Archipelago Resources PLC

04 October 2013

4 October 2013

AIM: AR.

Archipelago Resources Plc

("Archipelago" or "the Company")

Exercise of Options

Archipelago has today issued a total of 1,300,000 ordinary shares of 1 pence each ("Ordinary Shares") as a result of 1,300,000 options being exercised under the Company's 2002 Unapproved Executive Share Option Scheme at an exercise price of 38.5 pence per Ordinary Share.

The options exercised include 400,000 options held by Mr Graeme Duncan and 400,000 options held by Mr Stephen Sulistyo, each of whom are directors of the Company.

Application has been made for these Ordinary Shares to be admitted to trading on AIM on 10 October 2013.

As a result of this share issue, the Company has in issue 583,135,936 Ordinary Shares, with voting rights.

Following the exercise of these options, Mr Duncan holds a total of 480,000 Ordinary Shares in the Company which represent 0.08% of the Company's total voting rights and Mr Sulistyo holds a total of 400,000 Ordinary Shares in the Company which represent 0.07% of the Company's total voting rights.

As announced on 27 September 2013, PT Rajawali Corpora has made an unconditional recommended cash offer for the entire issued and to be issued share capital of the Company. Each of Mr Duncan and Mr Sulistyo have given irrevocable undertakings to accept the offer in respect of all Ordinary Shares held by them, including Ordinary Shares issued on the exercise of options.

For further information please contact:

 
 Archipelago Resources Plc              Liberum Capital Limited 
  President - Corporate Strategy         Joint Broker to Archipelago Resources 
  Matthew Salthouse                      Plc 
  Phone: + 65 6535 3419                  Tim Graham / Ryan de Franck / Joshua 
                                         Hughes 
                                         Phone: [phone] 
-------------------------------------  --------------------------------------- 
 Grant Thornton UK LLP                  Canaccord Genuity Limited 
  Nominated Adviser to Archipelago       Joint Broker to Archipelago Resources 
  Resources Plc                          Plc 
  Philip Secrett / David Hignell         Andrew Chubb / Christopher Fincken 
  Phone: [phone]            Phone: [phone] 
-------------------------------------  --------------------------------------- 
 Buchanan 
  PR Adviser to Archipelago Resources 
  Plc 
  Bobby Morse / Gordon Poole 
  Phone: [phone] 
-------------------------------------  --------------------------------------- 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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