RNS

RNS Number : 0982Y
Ortac Resources Limited
12 May 2016
 

 

12 May 2016

 

Ortac Resources Limited ('Ortac' or 'the Company')

Issue of Share Options

 

Ortac Resources Ltd, the AIM listed exploration and resource development company, has on the basis of the recommendation of its Remuneration Committee, resolved to grant options over 150,000,000 ordinary shares of no par value in the Company ("Shares") to Directors and senior management.

 

The new share options represent 2.61% of the current issued share capital of the Company and, when aggregated with the outstanding share options granted by the Company, the total incentive share options represent 6.77% of the current issued share capital of Ortac. Directors of the Company were granted new share options, as follows:

 

Chief Executive Officer, Vassilios Carellas

65,000,000

Executive Chairman, Anthony Balme

50,000,000

Non-Executive Director, Paul Heber               

20,000,000

 

The new share options were issued today and are exercisable from 12 May 2016 until 12 May 2021 and have an exercise price of 0.05p per Share, which represents a premium of approximately 67% to the closing mid-market Share price on 11 May 2016.

 

- ENDS -

 

For additional information please visit  - www.ortacresources.com

 

Ortac Resources Ltd

Vassilios Carellas (CEO)

 

+44 (0) 20 7389 9050

SP Angel (Nominated Adviser & Broker)

Ewan Leggat / Tercel Moore

 

Beaufort Securities (Joint Broker)

Jon Beliss / Elliot Hance

+44 (0) 20 3470 0470

 

+44 (0) 20 7382 8300

 

 

Yellow Jersey PR (Media Relations)

Dominic Barretto / Aidan Stanley

+44 (0) 7768 537 739

 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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