TIDMATH

RNS Number : 9112Z

ATH Resources plc

24 January 2011

 
 Press Release   24 January 2011

ATH Resources plc

("ATH Resources" or the "Group")

Grant of Options

ATH Resources plc (AIM:ATH), one of the UK's largest coal producers, announces on 20 January 2011 it granted up to 1,666,572 options over ordinary shares in the Company under the terms of its Long Term Incentive Plan ("LTIP").

The Options granted pursuant to the LTIP will be capable of exercise only if certain performance criteria have been achieved. Total shareholder return (calculated by reference to the share price and any dividends paid during the performance period) will have to exceed an average of 15 per cent compound per annum as measured from the date of issue up to and including the 20 January 2014. These options will not be exercisable prior to 3 years from the date of the grant and will lapse on the 5th anniversary of the date of grant.

Pursuant to the terms of the LTIP, the Options will be exercisable at 1 pence per share.

The Directors set out below have been granted the following number of Options under the LTIP which will be exercisable only if the performance criteria have been achieved and if the Director is in the Company's employment at the time the options are exercised and is not under notice of dismissal:

 
 Name of Director       LTIP 
 Alistair Black         210,000 
 Andrew Weatherstone    180,000

- Ends -

For further information:

 
 ATH Resources plc 
 David Port, Executive Chairman       Tel: +44 (0) 7836 693798 
  Alistair Black, Chief Executive    Tel: +44 (0) 1302 760 462 
                                                 www.ath.co.uk 
 
 
 Seymour Pierce Ltd 
 Sarah Jacobs / John Cowie (Nominated   Tel: +44 (0) 207 107 8000 
  Adviser) 
 Richard Redmayne / Katie Ratner 
  (Broker) 
                                            www.seymourpierce.com

Media enquiries:

 
 Abchurch 
 Sarah Hollins / Mark Dixon      Tel: +44 (0) 207 398 7729 
 mark.dixon@abchurch-group.com      www.abchurch-group.com

Notes to Editors

ATH Resources was listed on the AIM market of the London Stock Exchange in June 2004 and operates three surface coal mines in Scotland; Skares Road, in East Ayrshire, Glenmuckloch in Dumfries and Galloway and Muir Dean in Fife. The Group is currently one of the largest producers of coal in the UK producing approximately 2 million tonnes per annum. Coal is used to generate around a third of the UK's electricity and the Group holds coal supply contracts with four of the UK's main electricity generating companies.

Further information on ATH Resources can be found at www.ath.co.uk

This information is provided by RNS

The company news service from the London Stock Exchange

END

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