Issue of options
(Thomson Reuters ONE) - MARIANA RESOURCES LIMITEDAIM & PLUS: MARLDate: 27 July 2009.Restructure of Employee OptionsFollowing a recommendation from the Company's remuneration committee,the Board of Directors has restructured the options under theCompany's Employee Option Plan held by employees who remain in thegroup. The restructure halves the number of options held, inexchange for a reduction of the exercise price to 6 pence, except forthose options expiring 31 August 2012 which are not included in therestructuring.. Other rights or conditions pertaining to the optionsare not affected. Certain former employees of the Group werepermitted to retain their options as part of their redundancypackage, but these options are not included in the restructure.To provide further incentive for Group employees the Board hasdecided to issue 865,000 more options pursuant to the Employee OptionPlan. The options will expire on 30 June 2013 and are exercisable at6 pence per share after 30 June 2010. The exercise price is a 33%premium over the market price on 30 June 2009.The net effect of the above changes is to increase the number ofemployee options by 435,000 to 2,795,000. This representsapproximately 2.7% of issued capital.Issue of options to directorsThe directors have decided to similarly restructure optionsexercisable at 24p, 28p and 30p expiring 31 May 2012, held bydirectors John Horsburgh and John Sutcliffe. They have also decidedto issue a total of 600,000 more options exercisable at 6 pence pershare to directors. The options may only be exercised after 30 June2010 and the options will expire on 30 June 2013. The net effect ofthe changes is to increase the number of options in which directorshave an interest by 100,000 to 3,550,000, which representsapproximately 3.4% of issued capital.Issues of options to Nominated Adviser and BrokerIn exchange for a reduction of annual fees, the Company has agreed toissue to its Nominated Adviser, RFC Corporate Finance Ltd 1,000,000options exercisable at 5 pence per share expiring 6 July 2012 and toits broker, JM Finn Capital Markets Ltd 1,000,000 options exercisableat 5 pence per share, of which 333,333 expire on 6 March 2010,333,333 expire on 6 November 2010 and 333,334 expire on 6 July 2011.For more information:Mariana Resources LimitedJohn Horsburgh (Chairman) +61 2 9437 4588John Sutcliffe (MD) +59 32 298 6464RFC Corporate Finance Limited (Nomad)Rob Adamson +61 2 9250 0041Will Souter +61 2 9250 0050FinnCap (Broker)Joe Lunn (Analyst) +44 20 7600 1658Matthew Robinson +44 20 7600 1658Or visit website at www.marianaresources.comOptions on issueAs a consequence of the restructure and issues referred to above, theCompany has the following options on issue.+-------------------------------------------------------------------+| Exercise price | Expiry date | Number of options ||--------------------+--------------------------+-------------------|| | | ||--------------------+--------------------------+-------------------|| Employee options | | ||--------------------+--------------------------+-------------------|| 24p | 31 January 2012 | 21,000 ||--------------------+--------------------------+-------------------|| 28p | 31 January 2012 | 20,000 ||--------------------+--------------------------+-------------------|| 30p | 31 January 2012 | 19,000 ||--------------------+--------------------------+-------------------|| 15p | 31 October 2012 | 25,000 ||--------------------+--------------------------+-------------------|| 20p | 31 October 2012 | 25,000 ||--------------------+--------------------------+-------------------|| 25p | 31 October 2012 | 20,000 ||--------------------+--------------------------+-------------------|| 10p | 31 August 2012 | 476,000 ||--------------------+--------------------------+-------------------|| 15p | 31 August 2012 | 450,000 ||--------------------+--------------------------+-------------------|| 20p | 31 August 2012 | 444,000 ||--------------------+--------------------------+-------------------|| 6p | 31 May 2011 | 20,000 ||--------------------+--------------------------+-------------------|| 6p | 31 January 2012 | 100,000 ||--------------------+--------------------------+-------------------|| 6p | 31 October 2012 | 310,000 ||--------------------+--------------------------+-------------------|| 6p | 30 June 2013 | 865,000 || | | ||--------------------+--------------------------+-------------------|| | Total employee options | 2,795,000 ||--------------------+--------------------------+-------------------|| Directors' options | | ||--------------------+--------------------------+-------------------|| 8p | 15 June 2010 | 400,000 ||--------------------+--------------------------+-------------------|| 15p | 1 July 2010 | 150,000 ||--------------------+--------------------------+-------------------|| 6p | 31 May 2012 | 500,000 ||--------------------+--------------------------+-------------------|| 10p | 31 May 2012 | 400,000 ||--------------------+--------------------------+-------------------|| 15p | 31 May 2012 | 300,000 ||--------------------+--------------------------+-------------------|| 20p | 31 May 2012 | 300,000 ||--------------------+--------------------------+-------------------|| 10p | 31 May 2013 | 300,000 ||--------------------+--------------------------+-------------------|| 15p | 31 May 2013 | 300,000 ||--------------------+--------------------------+-------------------|| 20p | 31 May 2013 | 300,000 ||--------------------+--------------------------+-------------------|| 6p | 30 June 2013 | 600,000 || | | ||--------------------+--------------------------+-------------------|| | Total directors' options | 3,550,000 ||--------------------+--------------------------+-------------------|| Other options | | ||--------------------+--------------------------+-------------------|| 8p | 14 October 2009 | 140,000 ||--------------------+--------------------------+-------------------|| 8p | 28 October 2009 | 200,000 ||--------------------+--------------------------+-------------------|| 8p | 6 February 2010 | 300,000 ||--------------------+--------------------------+-------------------|| 25p | 18 May 2010 | 353,548 ||--------------------+--------------------------+-------------------|| 20p | 1 August 2010 | 164,124 ||--------------------+--------------------------+-------------------|| 15p | 1 July 2010 | 4,221,676 ||--------------------+--------------------------+-------------------|| 5p | 6 March 2010 | 333,333 ||--------------------+--------------------------+-------------------|| 5p | 6 November 2010 | 333,333 ||--------------------+--------------------------+-------------------|| 5p | 6 July 2011 | 333,334 ||--------------------+--------------------------+-------------------|| 5p | 6 July 2012 | 1,000,000 ||--------------------+--------------------------+-------------------|| | | ||--------------------+--------------------------+-------------------|| | Total other options | 7,379,348 |+-------------------------------------------------------------------+---END OF MESSAGE---This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
Datum: 27.07.2009 - 08:40 Uhr
Sprache: Deutsch
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