Baobab Resources plc (
Following this issue the directors' interests in the Company are as follows:
Ben James holds 864,500 ordinary shares in the Company, representing 0.45% of the issued share capital. In addition, Mr. James is interested in 5,200,000 options over ordinary shares in the Company as follows:
-------------------------------------- Stock Options Option Exercise Expiry Held Price Date -------------------------------------- 1,000,000 GBP0.0615 16 April 2012 1,200,000 GBP0.10 30 June 2013 3,000,000 GBP0.40 31 January 2013Jeremy Dowler holds 8,165,169 ordinary shares in the Company, representing 4.29% of the issued share capital. In addition, Mr. Dowler is interested in 2,700,000 options over ordinary shares in the Company as follows:
-------------------------------------- Stock Options Option Exercise Expiry Held Price Date -------------------------------------- 1,200,000 GBP0.10 30 June 2013 1,500,000 GBP0.40 31 January 2013Jon Crowe holds 8,940,001 ordinary shares in the Company, representing 4.70% of the issued share capital. Mr. Crowe holds 2,300,001 directly, has an interest in 6,500,000 Ordinary Shares held indirectly by R J Broadhurst (Mr. Crowe's wife) and himself as trustee for the R & J Superannuation Fund and 140,000 Ordinary Shares held indirectly through Millridge Holdings Pty Limited of which Mr. Crowe is a shareholder. In addition, Mr. Crowe is interested in 1,400,000 options over ordinary shares in the Company as follows:
-------------------------------------- Stock Options Option Exercise Expiry Held Price Date -------------------------------------- 800,000 GBP0.10 30 June 2013 600,000 GBP0.40 31 January 2013Jonathan Beardsworth holds 250,000 ordinary shares in the Company, representing 0.13% of the issued share capital. Mr. Beardsworth is interested in 1,400,000 options over ordinary shares in the Company as follows:
-------------------------------------- Stock Options Option Exercise Expiry Held Price Date -------------------------------------- 800,000 GBP0.10 30 June 2013 600,000 GBP0.40 31 January 2013Following the exercise of options by directors, the Company has 190.137,900 of ordinary shares in issue. Application has been made for the new ordinary shares to be admitted to AIM and admission is expected on 27 January 2012.
In addition, the Board has offered certain key employees and contractors of the Company the opportunity to relinquish their rights to options with a strike price of 40p expiring in January 2013 and April 2013 and to receive the equivalent number of options at a strike price of 20p with identical terms attached. 3,800,000 options with a strike price of 40p were issued on 9 March 2011 and 1,500,000 options with a strike price of 40p were issued on 4 July 2011.
The directors have waived their rights to receive options at a strike price of 20p in exchange for relinquishing their rights to options with a strike price of 40p.
Download of this announcement is available from the Baobab website at: http://www.baobabresources.com
About Baobab Resources plc
Baobab Resources plc (LON:BAO) is a Mozambican-focused explorer with a large landholding in the central north of the country. The company's flagship project is the Tete iron ore deposit.
Contact
Baobab Resources PLCBen James: Managing Director
Tel: +61 8 9430 7151
Jeremy Dowler: Chairman
Tel: +44 1372 450529
Grant Thornton Corporate Finance
Gerry Beaney / David Hignell
Tel: +44 20 7383 5100
Shore Capital Group
Jerry Keen / Toby Gibbs
Tel: +44 20 7468 7964
Fortbridge Consulting
Matt Beale
Tel: +44 7966 389 196
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