CORCEL PLC — Regulatory Filings 2013

Jan 29, 2013

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RNS Number : 6424W

Regency Mines PLC

29 January 2013

REGENCY MINES PLC

("Regency" or "the Company")

Grant of Options

29 January 2013

Regency Mines plc announces the grant of 60,000,000 options over 60,000,0000 ordinary shares of £0.001 in the capital of the Company ("Ordinary Shares") representing 6.37% of the current issued share capital. Further details of the grants are outlined below. 

The Board has approved the grant of the following options to Executive Directors of the Company:

	Quantity	Exercise  Price (£)	Exercisable  from	Expiration
Andrew Bell
	4,000,000	0.015	Immediate	01-Jun-16
	4,000,000	0.025	Immediate	01-Jun-17
	4,000,000	0.035	01-Jun-14	01-Jun-18
	4,000,000	0.045	01-Jun-15	01-Jun-19
Edmund Bugnosen
	2,000,000	0.015	Immediate	01-Jun-16
	2,000,000	0.025	Immediate	01-Jun-17
	2,000,000	0.035	01-Jun-14	01-Jun-18
	2,000,000	0.045	01-Jun-15	01-Jun-19
Scott Kaintz
	4,000,000	0.015	Immediate	01-Jun-16
	3,000,000	0.025	Immediate	01-Jun-17
	3,000,000	0.035	01-Jun-14	01-Jun-18
	2,000,000	0.045	01-Jun-15	01-Jun-19

Further, the Board approved the grant of the following options to the Non-Executive Directors of the Company as outlined below:

	Quantity	Exercise  Price (£)	Exercisable from	Expiration
John Watkins
	1,000,000	0.015	Immediate	01-Jun-16
	1,000,000	0.025	Immediate	01-Jun-17
Julian Lee
	1,000,000	0.015	Immediate	01-Jun-16
	1,000,000	0.025	Immediate	01-Jun-17

Lastly the Board also approved 20,000,000 stand-alone options to be granted at the Board's discretion to key staff and project managers.  This grant of options will have an exercise period of two years from date of grant, expirations between 1 June 2016 and 1 June 2019, and strike prices between £0.015 and £0.045.    

The Board considers the award of these options to be in line with the Company's policy of providing incentives to senior management and to Project Managers and equivalent in order to fully align employee interests with that of shareholders, facilitate retention and performance, and maximize value realisation from the Company's projects in Papua New Guinea, Sudan, and Australia.  

Enquiries:

Andrew Bell	020 7402 4580 or    07766 474849	Regency Mines plc	Chairman
Sandra Spencer	020 7402 4580 or 07757 660 798	Regency Mines plc	Public and Investor Relations
Gerry Beaney/ Daniela Amihood	020 7383 5100	Grant Thornton Corporate Finance	Nominated Adviser
Nick Emerson	01483 413500	Simple Investments Ltd	Broker

This information is provided by RNS

The company news service from the London Stock Exchange

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