BMR Mining PLC Grant of Options (0829Q)
June 15 2015 - 1:00AM
UK Regulatory
TIDMBMR
RNS Number : 0829Q
BMR Mining PLC
15 June 2015
BMR Mining PLC
(the "Company")
Grant of Options
BMR Mining PLC (AIM: BMR) announces that, as part of
remuneration and incentivisation arrangements, the Company has
granted a total of 13,196,546 share options (the "Options"),
representing 10.0 per cent. of the current issued share capital, to
subscribe for new ordinary shares of GBP0.01 each in the Company to
Alex Borrelli, Jeremy Hawke, Dennis Bailey and Norman Lott as
follows:
Name Position Number of options
granted
--------------- ------------------------------ ------------------
Chairman/ Chief Executive
Alex Borrelli Officer 6,070,411
--------------- ------------------------------ ------------------
Jeremy Hawke Executive Director 2,903,240
--------------- ------------------------------ ------------------
Senior Consultant (Non-Board
Dennis Bailey position) 2,903,240
--------------- ------------------------------ ------------------
Chief Financial Officer
Norman Lott (Non-Board position) 1,319,655
--------------- ------------------------------ ------------------
These Options vest as follows:
-- 25 per cent. immediately;
-- 25 per cent. on the first announcement of interim or year-end
results following successful testing of the pilot plant;
-- 25 per cent. on the first announcement of interim or year-end
results following first revenue from a commercial sale of product
from the production plant; and
-- 25 per cent. on the announcement of the next interim or
year-end results thereafter demonstrating a continuing commercial
revenue stream.
The exercise price is 6p, being 150 per cent. of the closing
mid-market price on 8 June 2015, the date the options were granted.
Any unexercised Options will lapse if the option holder leaves the
Company for any reason.
Pursuant to the announcement on 28 May 2015, Antony
Gardner-Hillman was appointed to the Board with immediate effect on
that day. Mr Gardner-Hillman has since been appointed to the
Remuneration Committee and in this role, in consultation with the
Company's Nominated Adviser as an independent member, reviewed the
terms of the options and given recommendations on the terms to the
Board.
Antony Gardner-Hillman is a solicitor of the Senior Courts of
England and Wales and has a first-class honours degree in
Jurisprudence from Oxford University. He co-founded the Jersey
Trust Company group in 1987 and was a director and shareholder for
21 years until he resigned as non-executive group chairman and
disposed of his remaining shareholding in the group holding company
in 2008. He was a partner of Crills, a Jersey law firm, from 1987
to 2002, and a Jersey resident non-executive partner of the
international law firm Holman, Fenwick & Willan (Jersey
partnership) from 1987 to 2003. Since 2008 he has worked full-time
on a varied portfolio of directorship appointments (including with
AIM listed companies).
In addition, Dennis Bailey, who has been acting as Senior
Consultant to the Company, has been appointed Company Secretary
with immediate effect in addition to his role as Senior
Consultant.
Norman Lott is now acting as Chief Financial Officer on a
part-time basis.
Ends
For further information:
BMR Mining PLC 07747 020 600
Alex Borrelli, CEO and Chairman
WH Ireland Limited 020 7220 1666
Chris Fielding, Head of Corporate Finance
This information is provided by RNS
The company news service from the London Stock Exchange
END
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