27 Apr 2007 10:17
Maghreb Minerals PLC27 April 2007 Maghreb Minerals Plc ("the Company") - Share Options The Board of the Company has agreed to the cancellation of 1,593,333 shareoptions that had vested in accordance with the terms of the Company's EmployeeUnapproved Share Option Plan. These share options had, or would have vested by1 July 2007 at prices of 17 pence per share (in respect of 1,233,333 shareoptions), of 10.75 pence per share (in respect of 133,333 share options) and of10 pence per share (in respect of 226,667 share options). The Board approved the issue of 1,593,333 new share options at a vesting priceof 9 pence per share, being a premium of 10.7% to the share price as at 18April 2007. In terms of the Employee Unapproved Share Option Plan, the new shareoptions will vest in three equal instalments, the first instalment vesting inApril 2008. Following the cancellation of the vested options and the issue of the new shareoptions, the number of share options held by Messrs Riddler and Storer remainthe same at 1,200,000 and 800,000 respectively. The share options held by Mr RJ Collier have increased from 500,000 to 650,000. There are 350,000 shareoptions which have been allocated to key employees of the Group. The total number of options outstanding is now 3,000,000 being 5.9% of the current issued share capital By Order of the BoardEJ HywoodCompany Secretary ENQUIRIES: Maghreb Minerals Plc Tel: +44 (0) 20 7556 7038Gordon Riddler, Executive Chairman Hanson Westhouse Limited Tel: +44 (0) 20 7601 6100Tim Metcalfe / Anita Ghanekar Bankside Consultants Tel: +44 (0) 20 7367 8888Michael Padley / Michael Spriggs This information is provided by RNS The company news service from the London Stock Exchange