Blenheim Natural Resources PLC Issue of Warrants and Granting of Share Options (4563C)

TIDMBNR

RNS Number : 4563C

Blenheim Natural Resources PLC

16 October 2015

16 October 2015

BLENHEIM NATURAL RESOURCES PLC (AIM: BNR)

("Blenheim" or "the Company")

Issue of Warrants and Granting of Share Options

Blenheim announces that the Company has agreed to issue 45,000 warrants over Ordinary Shares of 10p each in the Company ("Ordinary Shares") at an exercise price of 65p, being the current bid price, to each of Peterhouse Corporate Finance Limited and Cornhill Capital Limited ("the Broker Warrants") in connection with the Placing announced on 5 October 2015. These Broker Warrants will be exercisable at any time until 15 April 2017.

The Company also announces that 100,000 share options over Ordinary Shares ("Share Options") will be granted to three directors of the Company. These Share Options will be exercisable until 15 October 2018 at a price of 80p per share, being the current mid-market price.

These Share Options are intended to be issued as to 70,000 to Chairman Chris Ells and as to 15,000 each to two other directors, being Mark Parker and David Ovadia. The Company has previously granted 35,000 share options, which are exercisable until 12 June 2016 at a price of 125p per share, to Chris Ells. In aggregation with the new issue of Share Options, Chris Ells will hold unexpired options over 105,000 Ordinary Shares.

The number of Broker Warrants and Share Options referred to above does not reflect the effect of the 100 for 1 share split being proposed at the forthcoming annual general meeting. Pursuant to shareholder approval of the share split, the number of Broker Warrants and Share Options will be also adjusted in the ratio of 100 for 1.

The Company will be seeking the requisite authorities to issue shares pursuant to these Broker Warrants and Share Options at the forthcoming annual general meeting of the Company, to be held on 30 October 2015, following which the Company will issue the Broker Warrants and the Share Options.

For further information please contact:

 
                         Blenheim Natural Resources 
Chris Ells                Plc                            [phone] 
 
Colin Aaronson/Jamie                                     [phone] 
 Barklem                 Grant Thornton UK LLP            5100 
 
Nick Emerson             SI Capital Ltd                  [phone] 
Lucy Williams / Duncan   Peterhouse Corporate Finance    [phone] 
 Vasey                    Limited                         0932 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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October 16, 2015 02:00 ET (06:00 GMT)