Changes to Executive Director Remuneration>
Changes to Executive Director Remuneration
(Thomson Reuters ONE) - Shanta Gold Limited("Shanta Gold" or the "Company")Changes to Executive Director RemunerationIn consideration of the general economic conditions and its effect onShanta Gold the Company has requested and the executive directorshave accepted that a portion of the remuneration of the directors bepaid in ordinary shares of the Company. Each payment will becalculated by reference to the closing mid-market price on the lastbusiness day of each calendar month and converted at the exchangerate ruling at the close of business on that date. Directors affectedand their contractual terms are set out below:Name Total monthly salary (US$) Amount in cash (US$) NotesWalton Imrie 15,000 7,500 1, 4David Scott 11,050 7,500 2, 4Walter Vorwerk 11,500 10,000 3, 41. Mr Imrie's contract which expired on 31 December 2008 has beenrenewed on similar terms and conditions for an indefinite period.2. Mr Scott's contract provides for a payment of $1,050 for any daysworked in excess of 2.5 days per week.3. Mr Vorwerk's contract provides for payment of $1,370 for any daysworked in excess of 2 days per week.4. The current direct and indirect interests of Walton Imrie, DavidScott and Walter Vorwerk in ordinary shares in the Company are asfollows:Name Ordinary shares % interest Options to acquire sharesWalton Imrie 7,110,466 7.01 168,006David Scott - - -Walter Vorwerk 44,000 0.04 830,403The part payment of remuneration in ordinary shares of the Companywill apply from 1 July 2009 until further notice and the Board willreview these arrangements again in June 2010.Contact:Shanta Gold Limited http://www.shantagold.comWalton ImrieMobile: +27 (0) 82 444 2851Walter VorwerkMobile: +27 (0) 83 308 0080Fairfax I.S. PLCEwan Leggat / Laura Littley+44 (0) 20 7598 5368---END OF MESSAGE---This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
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Datum: 30.06.2009 - 16:42 Uhr
Sprache: Deutsch
News-ID 3069
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