Directorate Change and Directors dealings (5970W)

TIDMHRE

RNS Number : 5970W

Hameldon Resources Limited

22 November 2010

22 November 2010

HAMELDON RESOURCES LIMITED (AIM: HRE)

DIRECTORATE CHANGES

AND

DIRECTOR DEALINGS

AND

GRANT OF OPTIONS

Directorate Changes

The directors have resolved to strengthen the Company's Board and are pleased to announce that Alistair Ford will join the Board as a Non Executive Director with immediate effect.

Mr. Ford (aged 39) has been one of London's leading commentators on junior natural resource companies for more than ten years. He has extensive experience in the analysis and appraisal of junior mining companies across the globe. Educated at Oxford University, Mr. Ford has been the Editor of Minesite.com since January 2008.

The Board also announces that Non Executive Directors Jane Ketchum and David Ketchum will be stepping down from the Board to pursue other corporate interests, effective immediately.

The Board wishes to thank Jane and David for their excellent work, support and assistance, which has been highly valuable during their time with HRE.

There are no further disclosures to be made in relation to Mr. Ford under Schedule Two, paragraph (g) of the AIM Rules for Companies.

Director Dealings

The Board also announces that a total of 7,516,000 new ordinary shares of 0.25p each ("New Ordinary Shares") will be conditionally issued to Directors below, in lieu of directors' fees payable monthly in arrears to them in accordance with the terms of their appointments, at the prices and the amounts set out below. The Company will also conditionally issue 7,701,008 New Ordinary Shares to settle accrued fees owing to previous directors of the Company.

 
                  Number of New      Average Price 
                   Ordinary Shares    (p) 
 Ilyas Khan       3,596,000          1.0 
 Stephen Smith    3,596,000          1.0 
 Waseem Shiraz    324,000            1.0 
 

The issuance of New Ordinary Shares is subject to the following outstanding conditions precedent: (i) passing of all resolutions ("Resolutions") set out in the Company's notice of Extraordinary General Meeting sent to shareholders on 2 November 2010; and (ii) admission of the New Ordinary Shares to trading on AIM.

Grant of Options

The Board also announces that it has granted share options to certain directors and employees of the Company. Share options have been granted over a total of 5,487,804 Ordinary Shares at an exercise price of 0.82 pence per share ("Options"), exercisable for up to five years from the vesting start date. 25% of the Options shall vest at the end of each quarter of employment such that all Options shall be vested one year after the date of grant. The allocation of Options to directors is as follows:

 
                              Number of Options Issued and Held 
 Waseem Shiraz    Director    1,829,268 
 Alistair Ford    Director    1,829,268 
 

In addition, Options over a further 1,829,268 Ordinary Shares have been granted to an employee of the Company on the same terms as above.

Hameldon Resources Limited

Waseem Shiraz

[phone]

Tom Winnifrith

[phone]

Strand Hanson Limited

James Harris / Angela Peace

[phone]

Bishopsgate Communications

Nick Rome / Michael Kinirons

[phone]

This information is provided by RNS

The company news service from the London Stock Exchange

END

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