Griffin Mining Ld EXTENSION OF SHARE PURCHASE OPTIONS (9456H)
20 November 2018 - 4:20PM
UK Regulatory
TIDMGFM
RNS Number : 9456H
Griffin Mining Ld
20 November 2018
Griffin Mining Limited
8(th) Floor, 54 Jermyn Street, London, SW1Y 6LX. United
Kingdom
Telephone: + 44 (0)20 7629 7772 Facsimile: + 44 (0)20 7629
7773
E mail: griffin@griffinmining.com
Extension of Share Purchase Options
20(th) November 2018
Griffin Mining Ltd ("the Company") is pleased to announce, with
the unanimous agreement of all the issued option holders, the
extension of the exercise periods of share purchase options
over:
1. 4,350,000 new ordinary shares (vested) exercisable at 40 pence per new ordinary share; and
2. 10,732,500 new ordinary shares (vested) exercisable at 30 pence per new ordinary share; and
3. 6,666,667 new ordinary shares (currently not vested)
exercisable at 30 pence per new ordinary share
from 31(st) December 2018 in respect of the options exercisable
at 40 pence per share and 31(st) December 2020 in respect of the
options exercisable at 30 pence per share, to the 31(st) December
2022.
This will prevent the need in the short-term for the majority of
the option holders, once exercising their options, to sell a
significant portion of the resulting shares to meet the associated
subscription costs and personal income tax liabilities imposed on
such exercise.
Within the above the following persons discharging management
responsibility have agreed to the extension of options in which
they have an interest.
Name Number of options Number of options Number of options
exercisable at exercisable at exercisable at
40 pence per 30 pence per 40 pence per
new ordinary new ordinary new ordinary
share. share. Vested share. Unvested
All vested
Roger Goodwin
Finance director 500,000 1,000,000 500,000
------------------ ------------------ ------------------
Dal Brynelsen
Director - 600,000 300,000
------------------ ------------------ ------------------
Rupert Crowe
Director - 600,000 300,000
------------------ ------------------ ------------------
Adam Usdan
Director - - 1,166,666
------------------ ------------------ ------------------
Mark Hine
Chief operating
Officer - 125,000 125,000
------------------ ------------------ ------------------
Further information
Griffin Mining Limited
Mladen Ninkov - Chairman Telephone: +44(0)20 7629 7772
Roger Goodwin - Finance Director
Panmure Gordon (UK) Limited Telephone: +44 (0)20 7886 2500
Dominic Morley
Griffin Mining Limited's shares are quoted on the Alternative
Investment Market (AIM) of the London Stock Exchange (symbol
GFM).
The Company's news releases are available on the Company's web
site: www.griffinmining.com
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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