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4 October 2013
AIM: AR.
Archipelago Resources Plc
("Archipelago" or "the Company")
Exercise of Options
Archipelago has today issued a total of 1,300,000 ordinary shares of 1 pence each ("Ordinary Shares") as a result of 1,300,000 options being exercised under the Company's 2002 Unapproved Executive Share Option Scheme at an exercise price of 38.5 pence per Ordinary Share.
The options exercised include 400,000 options held by Mr Graeme Duncan and 400,000 options held by Mr Stephen Sulistyo, each of whom are directors of the Company.
Application has been made for these Ordinary Shares to be admitted to trading on AIM on 10 October 2013.
As a result of this share issue, the Company has in issue 583,135,936 Ordinary Shares, with voting rights.
Following the exercise of these options, Mr Duncan holds a total of 480,000 Ordinary Shares in the Company which represent 0.08% of the Company's total voting rights and Mr Sulistyo holds a total of 400,000 Ordinary Shares in the Company which represent 0.07% of the Company's total voting rights.
As announced on 27 September 2013, PT Rajawali Corpora has made an unconditional recommended cash offer for the entire issued and to be issued share capital of the Company. Each of Mr Duncan and Mr Sulistyo have given irrevocable undertakings to accept the offer in respect of all Ordinary Shares held by them, including Ordinary Shares issued on the exercise of options.
For further information please contact:
Archipelago Resources Plc |
Liberum Capital Limited |
Grant Thornton UK LLP |
Canaccord Genuity Limited |
Buchanan |
This information is provided by RNS
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