Horizonte Minerals Plc
TSX : HZM
AIM : HZM

Horizonte Minerals Plc

September 21, 2011 09:20 ET

Horizonte Minerals Awards Stock Options

TORONTO, ONTARIO--(Marketwire - Sept. 21, 2011) - Horizonte Minerals (TSX:HZM)(AIM:HZM) ("Horizonte" or "the Company") reports that on the basis of the recommendation of its Remuneration Committee and in accordance with the Company's Enterprise Management Incentive Rules, it has awarded 14,380,000 options ("the Awarded Options") to directors and senior management to buy ordinary shares in the Company. The Awarded Options include the following grants to directors of the Company:

Jeremy Martin 2,000,000
David Hall 1,000,000
Nicholas Winer 1,500,000
Bill Fisher 1,500,000
Allan Walker 1,000,000

All of the Awarded Options have an exercise price of 15.4p and are exercisable from 21 September 2013. The exercise price was set on a 20-day average closing price at a 10% per cent premium to the closing market price on 19 September 2011. The total number of options currently outstanding is 27,380,000, which represents 9.79% of current issued share capital of the Company of 279,559,980 ordinary shares.

Application has been made to the London Stock Exchange for a block listing totalling 27,380,000 ordinary shares of 1p each in the Company. These shares will be allotted and issued in due course upon the exercise of options pursuant to the Company's share option schemes. These shares will rank pari passu with the existing issued ordinary shares of the Company. Trading in the ordinary shares under the block listing is expected to commence on 22 September 2011. The ordinary shares issuable upon exercise of the Awarded Options have also been reserved for listing on the Toronto Stock Exchange ("TSX").

About Horizonte Minerals

Horizonte Minerals Plc is an AIM and TSX quoted exploration and development company with a portfolio of nickel and gold projects in the Carajas District of Brazil. The Company is focused on creating value by generating and rapidly advancing exploration projects in tandem with joint ventures with major mining companies, providing mid-term cash flow which is then used to develop the business and pipeline projects.

Horizonte has two committed major mining partners: Teck Resources Limited, a major strategic shareholder in the Company, and AngloGold Ashanti Limited, a JV partner on the gold portfolio.

CAUTIONARY STATEMENT REGARDING FORWARD LOOKING INFORMATION

Except for statements of historical fact relating to the Company, certain information contained in this press release constitutes "forward-looking information" under Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to the making of an application by the Company to the London Stock Exchange for a block listing. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". In addition, statements relating to "mineral reserves" or "mineral resources" are deemed to be forward-looking statements, as they involve the implied assessment, based on certain estimates and assumptions, that the mineral resources and mineral reserves described can be profitably mined in the future. Forward-looking information is based on the reasonable assumptions, estimates, analysis and opinions of management made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances at the date that such statements are made, and are inherently subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to risks related to: the trading market for the ordinary shares of the Company and various risks associated with the legal and regulatory framework within which the Company operates.

Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

Contact Information

  • Horizonte Minerals plc
    Jeremy Martin
    +44 (0) 20 7763 7157

    Horizonte Minerals plc
    David Hall
    +44 (0) 20 7763 7157

    Horizonte Minerals plc - Investor Relations
    Sebastian de Kloet
    1-416-970-5277

    Panmure Gordon (UK) Limited (Nomad and Broker)
    Dominic Morley
    +44 (0) 20 7459 3600

    UK Investor Relations
    Felicity Edwards
    +44 (0) 20 7236 1177