Blencowe Resources (LSE:BRES), the natural resources company focussed on the development of the Orom-Cross Graphite Project in Uganda, reports the issue of options to directors and senior management.
Given the stage of development of the Company and to further align Directors and Senior Management with shareholders, the Company now announces the grant of 6 million options as set out below, at 6p per share, for a period of five years.
These options will not vest unless the share price of the Company trades in excess of 10p per share for 10 consecutive days.
In addition, the options granted to the CEO and COO will only vest on delivery of a pre-feasibility study.
|
Cameron Pearce (Chairman) |
1,500,000 |
£0.06 |
|
Mike Ralston (CEO) |
1,500,000 |
£0.06 |
|
Iain Wearing (COO) |
1,500,000 |
£0.06 |
|
Lionshead Consultants Ltd (Sam Quinn) (Non Exec Director) |
1,000,000 |
£0.06 |
|
Alexander Passmore (Non Exec Director) |
500,000 |
£0.06 |