Grant of Options

ECR MINERALS plc
(“ECR Minerals”, “ECR” or the “Company”)

 

AIM: ECR

US OTC: MTGDY

 

LONDON: 31 DECEMBER 2014 - ECR Minerals plc announces the grant of 208,940,427 share options (the “Options”) to directors, staff and consultants. The Options have been granted under the Company’s unapproved share option plan (the “Option Plan”).

Each Option is exercisable to acquire one ordinary share of the Company at a price of £0.00275 (0.275 pence) per share. The Options will remain valid, subject to the rules of the Option Plan, until the fifth anniversary of the date of grant. The Options will vest immediately.

The exercise price of the Options equates to a premium of approximately 45% to the closing mid-market price of the Company’s shares on AIM on 30 December 2014.

Options have been granted to directors of the Company as follows:

Director

Number of options held prior to this grant

Number of options granted

Total number of options held

% of current issued ordinary share capital

Stephen Clayson

58,945,872

71,055,089

130,000,961

3.71%

Paul Johnson

27,522,936

35,527,545

63,050,481

1.80%

Richard Watts

19,816,514

25,579,832

45,396,346

1.30%

 

Paul Johnson, Non-Executive Chairman of ECR, commented:

“The ECR team in the UK, Argentina and the Philippines continue to work in a smart, efficient and results oriented manner to drive the business forward and build value for our shareholders. It is crucial that this high level of commitment is maintained and that the interests of directors, staff and key consultants remain aligned with those of shareholders. Incentive share options are an important means of achieving this.”

 

FOR FURTHER INFORMATION PLEASE CONTACT:

 

ECR Minerals plc  Tel: +44 (0)20 7929 1010
Paul Johnson, Non-Executive Chairman    
Stephen Clayson, Director & Chief Executive Officer    
Richard (Dick) Watts, Technical Director      
Email:This email address is being protected from spambots. You need JavaScript enabled to view it.    
Website: www.ecrminerals.com    
     
Cairn Financial Advisers LLP  Tel: +44 (0)207 148 7900
Nominated Adviser    
Jo Turner/Liam Murray    
     
Daniel Stewart & Company plc   Tel:  +44 (0)20 7776 6550
Broker    
Colin Rowbury