BMR Mining grants 13.2m share options

15th Jun 2015 10:15

BMR Mining has granted four directors a total of just under 13.2m share options to subscribe for new ordinary shares in the firm at an exercise price of 6p.Chief executive Alex Borrelli was granted 6.07m, while executive director Jeremy Hawke and senior consultant Dennis Bailey were each granted 2.9m and chief financial officer Normal Lott was granted 1.3m.Altogether the share options represent 10% of the issued share capital.One quarter of the options vest immediately, another quarter at the release of the first set of results following the successful testing of the pilot plant, a further quarter at the first results released following the first revenue from a commercial sale of product from the production plant and the final quarter at the first set of results released where the company has demonstrated a continuing commercial revenue stream.The share price had risen 12.82% to 5.50p by 12:04.