Award of jointly held incentive shares
Angel Mining plc (the "Company")
AIM: ANGM
The Company announces that pursuant to the commencement of a Joint Ownership Share Plan (“JSOP”) the following directors of the Company have acquired an interest in new ordinary shares of 1p each in the Company (“Ordinary Shares”), which they hold jointly with an Employee Benefit Trust. Under these arrangements, each participant will benefit from growth in value of an Ordinary Share above 5.89p per share:
| Director | JSOP shares | Existing shareholding | Shareholding interest (inc. JSOP shares) | Percentage (inc. JSOP shares) |
|---|---|---|---|---|
| Nicholas Hall | 12,500,000 | 3,500,000 | 16,000,000 | 5.43% |
| Timothy Daffern | 12,500,000 | 600,000 | 13,100,000 | 4.45% |
| Francis Chapman | 2,500,000 | 1,000,000 | 3,500,000 | 1.19% |
| Daniel Bordessa | 2,500,000 | Nil | 2,500,000 | 0.85% |
In total, the Company has issued 31,000,000 new Ordinary Shares pursuant to the JSOP. Application has been made for these shares to be admitted to trading on AIM and dealings are expected to commence on 2 December, 2009. On admission, the Company will have 294,530,552 shares in issue.
Nicholas Hall, CEO commented;
“The JSOP is a tax efficient alternative to an unapproved share option scheme. As the Company completes the transition from being a minerals exploration business to a mining company the board believes that this is the right time to incentivise the new team with an effective equity scheme, linked to growth in share value”.
For further information please contact:
| For further information please contact | |
|---|---|
| Angel Mining plc Nicholas Hall, Chief Executive |
07931 709 053 |
| WH Ireland Limited Adrian Kirk |
0161 832 2174 |
| Fox-Davies Capital David Poraj-Wilczynski |
0207 936 5200 |
| Bishopsgate Communications Limited Nick Rome |
0207 562 3366 |