African Copper PLC

African Copper PLC

July 14, 2011 02:00 ET

African Copper Plc: Grant of Options

LONDON, UNITED KINGDOM--(Marketwire - July 14, 2011) - The Compensation Committee of African Copper Plc ("ACU" or "the Company"), (AIM:ACU)(BOTSWANA:AFRICAN COPPER) the AIM and Botswana listed copper producer and exploration company, announces that on 12 July 2011 it granted 17,150,000 options over ordinary shares in the capital of the Company under the African Copper Unapproved Share Option Plan at an exercise price of 3.13 pence per share, being the closing mid-market price on the day preceding the awards. The options have a maximum term of 10 years and are exercisable as to 40% immediately with the balance exercisable as to 20% on each of the next three annual anniversaries of the awards.

The options have been awarded to members of the executive management team and to the following directors of the Company:
Director Number of options
David Rodier (Non-executive Chairman) 500,000
R D Corrans (Non-executive Director) 500,000
Prof S Simukanga (Non-executive Director) 500,000
Jordan Soko (Interim Chief Executive Officer) 2,500,000
Brad Kipp (Chief Financial Officer) 2,500,000
Various executive team members 10,650,000
Total 17,150,000
Following the grant of the above options, the interests of each of the above in the capital of the Company are as follows:
Director No. of % of No. of
No. of
No. of
Shares issued at 77.5p at 76.0p at 3.13p Options
David Rodier - - - - 500,000 500,000
R D Corrans - - 150,000 150,000 500,000 800,000
Prof S Simukanga - - - - 500,000 500,000
Jordan Soko - - - - 2,500,000 2,500,000
Brad Kipp 300,000 0.03% 1,250,000 100,000 2,500,000 3,850,000
The current issued share capital of the Company is 928,798,988.

Notes to Editors:

African Copper Plc is an AIM and Botswana listed copper producer and exploration company, currently focused on Botswana. The Company's flagship project is the copper producing open pit Mowana Mine. ACU also operates the Thakadu copper mine. Both deposits are situated on the highly prospective Matsitama belt, located close to Botswana's second largest city, Francistown, in the north-eastern part of the country.

Contact Information

  • African Copper Plc
    Brad Kipp
    Chief Financial Officer
    +1 (416) 847 4866

    Tavistock Communications (PR and IR)
    Simon Hudson/Lydia Eades
    +44 (0) 20 7920 3150

    Canaccord Genuity (NOMAD and Broker)
    Andrew Chubb/Tarica Mpinga
    +44 (0) 20 7050 6500