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RNS Number : 8221H

Sirius Minerals Plc

18 March 2015

18 March 2015

Sirius Minerals Plc

Director Dealing and Option Exercise

The Directors of Sirius Minerals Plc (AIM: SXX, OTCQX: SRUXY) ("Sirius" or "the Company") were notified late yesterday that Broadscope Pty Ltd as trustee for the Catlow Family Trust of which Mr Christopher Catlow is a beneficiary, sold 3,987,000 of the Company's 0.25p ordinary shares during 16 and 17 March ("Sale Shares") at an average price of 7.46p each.

The net proceeds from the Sale Shares will be used by Broadscope Pty Ltd as trustee for the Catlow Family Trust of which Christopher Catlow is a beneficiary, to exercise 6,200,000 options ("Options") granted in April 2010 and due to expire in April 2015, and in relation to which the Company has today received an exercise notice. The Options are exercised at 4.5p per share, raising a total of GBP279,000 and the monies will be used for general working capital purposes.

An application will be made for the 6,200,000 shares to be issued pursuant to the exercise of the Options ("Option Shares"), which will rank pari passu with the Company's existing ordinary shares, to be admitted to trading on AIM with admission expected to take place from 8am on 24 March 2015.

Following the sale of the Sale Shares and issue of the Option Shares, Mr Catlow will have an increased indirect beneficial interest of 102,213,000 shares representing 4.77% of the Company's issued share capital.

Following the placement of shares completed on 11 March 2015 the Company was in an open period where directors and employees could buy or sell Sirius shares. The Company has now returned to a close period as it moves towards, what Sirius expects to be, a more intense period of activity in relation to the current approval process for the York Potash Project's mine and mineral transport system.

In addition, as a result of the placing of shares announced on 11 March 2015, Christopher Fraser, Managing Director & Chief Executive Officer, retains a direct and indirect beneficial interest of 122,628,314 shares, which now represents 5.72% of the Company's issued share capital.

Following the issue of the Option Shares, the Company's issued share capital will consist of 2,142,461,436 ordinary shares. This figure may be used by shareholders in the Company as the denominator for the calculation by which they will determine if they are required to notify their interest in, or a change of interest in, the share capital of the Company under the Financial Conduct Authority's Disclosure and Transparency Rules.

For further information, please contact:

 
 Sirius Minerals Plc 
  Investor Relations            Email: ir@siriusminerals.com         Tel: +44 845 
                                                                         524 0247 
---------------------------  -------------------------------  ------------------- 
 Joint Brokers 
  Liberum Capital Limited       Clayton Bush                     Tel: +44 20 3100 
                                                                             2222 
 Macquarie Capital (Europe)   Ken Fleming, Nick                  Tel: +44 20 3037 
  Limited (NOMAD)              Harland, Nick Stamp                           2000 
 WH Ireland                   Adrian Hadden                      Tel: +44 20 7220 
                                                                             1666 
---------------------------  -------------------------------  ------------------- 
 Media Enquiries              Jos Simson, Mike                   Tel: +44 20 7920 
  Tavistock                    Bartlett,                                     3150 
                               Emily Fenton 
---------------------------  -------------------------------  ------------------- 
 Warrant Trading Enquiries 
  Liberum Capital Limited       Simon Smith                      Tel: +44 20 3100 
                                                                             2171 
---------------------------  -------------------------------  -------------------

About Sirius Minerals Plc

Sirius Minerals is a potash development company with properties in the United Kingdom (North Yorkshire) and the United States (North Dakota). Its primary focus is the development of the York Potash Project which has the world's largest and highest grade deposit of polyhalite, a multi-nutrient form of potash containing potassium, sulphur, magnesium and calcium. Incorporated in 2003, Sirius Minerals' shares are traded on the London Stock Exchange's AIM market. Its shares are also traded in the United States on the OTCQX through a sponsored ADR facility. Further information on the Company can be found at www.siriusminerals.com.

This information is provided by RNS

The company news service from the London Stock Exchange

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