Sirius Minerals Plc Remuneration Report & Lapse of Options (5757J)
April 08 2015 - 1:01AM
UK Regulatory
TIDMSXX
RNS Number : 5757J
Sirius Minerals Plc
08 April 2015
8 April 2015
Sirius Minerals Plc
Remuneration Report & Lapse of Options
The Directors of Sirius Minerals Plc (AIM: SXX, OTCQX: SRUXY)
("Sirius" or the "Company") provide an update on the results of its
Remuneration Committee meeting. Following its recommendation, which
mirrors the previous year's recommendation, the Board has confirmed
that no share bonuses are to be awarded to Executive Directors or
employees under the Company's Short Term Incentive Plan ("STIP") or
the Company's Long Term Incentive Plan ("LTIP") in relation to the
fiscal year ended 31 March 2015.
Pursuant to the LTIP share awards granted for the fiscal year
ended 31 March 2013 (announced on 21 May 2013), 847,381 new
ordinary shares of 0.25p each ("LTIP Shares") have vested in April
2015 and will be issued to employees of the Company.
285,714 LTIP Shares will be issued to Chris Fraser, Chief
Executive Officer and Managing Director. Following the issue, Chris
Fraser will have a total direct and indirect beneficial interest in
122,914,028 ordinary shares in the Company, representing 5.7 per
cent of the Company's total voting rights.
An application has been made for the 847,381 LTIP Shares, which
will rank pari passu with the Company's existing ordinary shares,
to be admitted to trading on AIM and trading in such shares is
expected to commence at 8am Thursday 9 April 2015.
Following the issue of the LTIP Shares, the total number of
shares in issue and the total number of ordinary shares in the
Company with voting rights will be 2,146,867,642. This figure may
be used by shareholders in the Company as the denominator for the
calculation by which they will determine if they are required to
notify their interest in, or a change of interest in, the share
capital of the Company under the Financial Conduct Authority's
Disclosure and Transparency Rules.
Lapse of options
Details of all issued options in Company shares are available on
the Company's website at all times and the website is updated
frequently. An update today reflects that 43,800,000 options lapsed
on 5 April 2015 ("Lapsed Options"). The holder of the Lapsed
Options was Broadscope Pty Ltd as trustee for the Catlow Family
Trust, of which Mr Christopher Catlow is a beneficiary.
For further information, please contact:
Sirius Minerals Plc
Investor Relations Email: ir@siriusminerals.com Tel: +44 845
524 0247
--------------------------- ------------------------------- ---------------
Joint Brokers
Liberum Capital Limited Clayton Bush Tel: +44 20
3100 2222
Macquarie Capital (Europe) Ken Fleming, Tel: +44 20
Limited (NOMAD) Nick Harland, 3037 2000
Nick Stamp
WH Ireland Adrian Hadden Tel: +44 20
7220 1666
--------------------------- ------------------------------- ---------------
Media Enquiries Jos Simson, Mike Tel: +44 20
Tavistock Bartlett, 7920 3150
Emily Fenton
--------------------------- ------------------------------- ---------------
Warrant Trading Enquiries
Liberum Capital Limited Simon Smith Tel: +44 20
3100 2171
--------------------------- ------------------------------- ---------------
About Sirius Minerals Plc
Sirius Minerals is a potash development company with properties
in the United Kingdom (North Yorkshire) and the United States
(North Dakota). Its primary focus is the development of the York
Potash Project which has the world's largest and highest grade
deposit of polyhalite, a multi-nutrient form of potash containing
potassium, sulphur, magnesium and calcium. Incorporated in 2003,
Sirius Minerals' shares are traded on the London Stock Exchange's
AIM market. Its shares are also traded in the United States on the
OTCQX through a sponsored ADR facility. Further information on the
Company can be found at www.siriusminerals.com.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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