Polo Resources Limited AWARD OF SHARE OPTIONS (7370S)

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   [phone] 
 
 Allenby Capital Limited (Nominated 
  adviser & joint broker) 
  - John Depasquale                       [phone] 
 Liberum Capital (Joint broker) 
  - Henry Freeman                         [phone] 
 Blytheweigh (Public relations) 
  - Tim Blythe, Camilla Horsfall, Simon 
  Woods                                   [phone] 
 

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 [e-mail] or visit www.rns.com.

END

DSHFRMPTMBTTMJP

(END) Dow Jones Newswires

June 27, 2018 04:26 ET (08:26 GMT)