Oriole Resources plc has granted in aggregate 166,700,000 share options to directors and certain members of staff for securing the BCM International Ltd earn-ins and as incentives.
DIRECTORS’ DEALINGS
The options have an exercise price of 0.33 pence per ordinary share, representing a 14% premium.
Equivalent to 4.28% of Oriole’s current issued share capital, the options will vest over three years beginning immediately.
Non-executive chair Eileen Carr receives 38 million options; chief executive Martin Rosser 30m; independent non-executive director David Pelham 15m; executive director Claire Bay 27m; and chief financial officer Bob Smeeton 27m.
Oriole also awarded “shadow share options” to Cameroonian employees who delivered successful exploration on the company’s projects.
Additionally, Ms Carr and Mr Rosser acquired a total 16,175,585 shares of 0.1 pence each at an average price of 0.30 pence per share.
Ms Carr purchased 13.5 million ordinary shares and now owns 181,672,969 ordinary shares in Oriole, representing 4.66% of the issued share capital of the company.
Mr Rosser bought 2,675,585 and holds 5,675,585 shares, equal to 0.15%.
The number of the company’s shares in issue totals 3,895,872,338.