Press releases

MDM operating update

Issue of share options to a director

30 April 2010

MDM Engineering Limited (“MDM” or the “Company”) announces that it has issued 50,000 share options (the “Options”) to the Company’s Chief Executive, Martin Smith. The Options have an exercise price of 175 pence per share and will vest in three equal tranches on 15 March 2011, 15 March 2012 and 15 March 2013. The expiry date for the Options is 15 March 2015. The Options were issued in accordance with the terms of Martin Smith’s contract of employment which commenced on 15 March 2010.

Key Information:

MDM Engineering Group Limited is a minerals process and project management company focused on the mining industry. The Company provides a wide range of services from preliminary and final feasibility studies, through to plant design, construction and commissioning. To date, the Company's clients have largely been junior and mid-tier mining corporations with operations in Africa.

In May 2008, the Company successfully listed on the AIM market of the London Stock Exchange. The MDM Engineering core technical team has a 20 year track record of completing a wide range of studies and execution projects across a variety of minerals, including precious metals, base metals, ferrous and non-ferrous metals, uranium and diamonds.

The Company has adopted an approach to project execution based on an open-book Engineering, Procurement, Construction Management ("EPCM" or ";cost-plus") basis. With a core focus on Africa, MDM Engineering is setting the benchmark standard for best practice in the mining services industry through its commitment to providing the highest quality services and actively engaging with clients to ensure maximum transparency.

Enquiries:

MDM Engineering Group Limited

Martin Smith (CEO)
Tel: +27 (0) 11 993 4300

George Bennett (Executive Director)
Tel: +27 (0) 11 993 4300

Dominique de la Roche (Finance Director)
Tel: +27 (0) 11 993 4300

Numis Securities Limited

John Harrison (Nominated Adviser)
Tel: +44 (0) 207 260 1000

James Black (Corporate Broker)
Tel: +44 (0) 207 260 1000

 

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