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Griffin Mining News
Griffin Mining Limited (“Griffin” or the “Company”) announces that it has today agreed to grant options over 15,000,000 new ordinary shares to key employees and the directors of the Company (the "Options"). Each Option will entitle the holder to subscribe for new ordinary shares in Griffin at 27.5 pence per share (being the offer price of Griffin ordinary shares at the close of business on 9 March 2004) on or before 28 February 2007. The grant of the Options follows the successful placing of 35 million shares at 25 pence per share, to raise £8.75 million, on 24 February 2004. Upon exercise, the resulting new ordinary shares will represent approximately 7.8 per cent of the Company's enlarged issued share capital. These options have been allocated as follows:
The remaining 250,000 are to be held and allocated on the appointment of additional key staff.
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Griffin Mining Limited 6th Floor 60 St James's Street London SW1A 1LE |
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Tel: +44 (0)20 7629 7772 Fax: +44 (0)20 7629 7773 |
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