PALM Panther Metals Plc

TIDMPALM

RNS Number : 0334B

Asian Plantations Limited

10 April 2012

10 April 2012

Asian Plantations Limited

("APL" or the "Company")

Grant of Options

Asian Plantations Limited (LSE: PALM), a palm oil plantation company with operations in Malaysia, announces that, further to the approval of the Company's Share Option Scheme by shareholders on 22 February 2011, it has granted options over, in aggregate, 3,747,000 ordinary shares of no par value in the share capital of the Company ("Ordinary Shares") to certain directors, employees and consultants (the "Grant"). A summary of Share Option Scheme is included in the circular sent to shareholders on 27 January 2011 and is available on the Company's website.

Details of the grant of options are as follows:

 
 Name            Position                 Date of        Number     Exercise   Total number 
                                            grant    of options    price per     of options 
                                                        granted        share 
 Tan Sri 
  Linggi         Chairman                9/5/2011      500,000*     SGD$1.55        500,000 
 Tan Sri         Non-Executive 
  Moggie          Director               9/5/2011      150,000*     SGD$1.55        150,000 
 Dennis Melka    Executive Director      9/5/2011    1,100,000*     SGD$1.55      1,500,000 
                                        12/5/2011     400,000**     SGD$5.07 
 Graeme Brown    Executive Director      9/5/2011    1,100,000*     SGD$1.55      1,500,000 
                                        12/5/2011     400,000**     SGD$5.07 
  Other staff                            9/5/2011        97,000     SGD$1.55 
   and consultants 
 
 
 *    a first tranche of 25% shall vest when: 
 
                 (a) the average market price of the Ordinary Shares 
                  is not less than 205 pence for 30 consecutive market 
                  days; and 
 
                 (b) the CPO Crushing Mill License has been issued to 
                  the Company by the Malaysian Palm Oil Board, or similar 
                  regulatory authority, in the course of 2011. 
 
      a second tranche of 25% shall be granted when: 
 
                 (c) the average market price of the Ordinary Shares 
                  is not less than 205 pence for 30 consecutive market 
                  days; and 
 
                 (d) the BJ Plantation is fully planted by 31 March 2012; 
 
      a third tranche of 25% shall be granted when, in 2012, 
       the average market price of the Ordinary Shares is not 
       less than 225 pence for 30 consecutive market days; 
       and 
 
      a fourth tranche of 25% shall be granted when the average 
       market price of the Ordinary Shares is not less than 
       300 pence for 30 consecutive market days. 
 
      Irrespective of the above, there is a selling restriction 
       on the above shares until 31 March 2012. 
 
 **   Options vest on 1 June 2012 and are valid for five years. 
 

Following the Grant, there are now options outstanding over, in aggregate, 3,747,000 Ordinary Shares representing approximately 8.11 per cent. of the Company's existing issued share capital.

For further information contact:

 
 Asian Plantations Limited 
  Graeme Brown, Joint Chief Executive    Tel: +65 6325 0970 
  Officer 
  Dennis Melka, Joint Chief Executive 
  Officer 
 Strand Hanson Limited 
  James Harris                           Tel: +44 (0) 20 7409 3494 
  Paul Cocker 
  Liam Buswell 
 Panmure Gordon (UK) Limited 
  Tom Nicholson                          Tel: +65 8614 7553 
  Callum Stewart                         Tel: +44 (0) 20 7459 3600 
 Macquarie Capital (Europe) Limited 
  Steve Baldwin                          Tel: +44 (0) 20 3037 2000 
  Dan Iacopetti 
 Bankside Consultants 
  Simon Rothschild                       Tel: +44 (0) 20 7367 8871 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

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