ECR Minerals plc Grant of Options

 
TIDMECR 
 
 

ECR MINERALS plc

("ECR Minerals", "ECR" or the "Company")

AIM: ECR

US OTC: MTGDY

GRANT OF OPTIONS

LONDON: 31 DECEMBER 2014 - ECR Minerals plc announces the grant of 208,940,427 share options (the "Options") to directors, staff and consultants. The Options have been granted under the Company's unapproved share option plan (the "Option Plan").

Each Option is exercisable to acquire one ordinary share of the Company at a price of GBP0.00275 (0.275 pence) per share. The Options will remain valid, subject to the rules of the Option Plan, until the fifth anniversary of the date of grant. The Options will vest immediately.

The exercise price of the Options equates to a premium of approximately 45% to the closing mid-market price of the Company's shares on AIM on 30 December 2014.

Options have been granted to directors of the Company as follows:

 
Director          Number of   Number of   Total number of  % of current 
                  options     options     options held     issued 
                  held        granted                      ordinary 
                  prior to                                 share capital 
                  this 
                  grant 
Stephen Clayson   58,945,872  71,055,089  130,000,961      3.71% 
Paul Johnson      27,522,936  35,527,545  63,050,481       1.80% 
Richard Watts     19,816,514  25,579,832  45,396,346       1.30% 
 
 

Paul Johnson, Non-Executive Chairman of ECR, commented:

"The ECR team in the UK, Argentina and the Philippines continue to work in a smart, efficient and results oriented manner to drive the business forward and build value for our shareholders. It is crucial that this high level of commitment is maintained and that the interests of directors, staff and key consultants remain aligned with those of shareholders. Incentive share options are an important means of achieving this."

FOR FURTHER INFORMATION PLEASE CONTACT:

 
ECR Minerals                     Tel: [phone] 
plc 
Paul Johnson, Non-Executive 
Chairman 
Stephen Clayson, 
Director & CEO 
Richard (Dick) Watts, 
Technical Director 
Email: 
[e-mail] 
Website: 
www.ecrminerals.com 
Cairn Financial                  Tel: [phone] 
Advisers LLP 
Nominated 
Adviser 
Jo Turner/Liam 
Murray 
Daniel Stewart                   Tel: [phone] 
& Company plc 
Broker 
Colin 
Rowbury 
 
 
 
 
This information is provided by Business Wire