Issue of Options
October 17 2007 - 7:26AM
UK Regulatory
RNS Number:8576F
Neptune Minerals Plc
17 October 2007
FOR IMMEDIATE RELEASE 17 October, 2007
NEPTUNE MINERALS PLC
("Neptune" or the "Company")
ISSUE OF OPTIONS UNDER THE NEPTUNE EXECUTIVE INCENTIVE PLAN
Pursuant to the Company's Executive and Non Executive Incentive Plan and as a
component of employees' remuneration packages, Neptune today issued the
following options to staff and directors.
No of Options Exercise price per First Exercise date Expiry date
ordinary share
3,719,222 35 pence 17 October 2008 17 October 2012
Included in the above options are options to directors, issued as follows:
Exercise price
No of per ordinary First
Director Options share Exercise date Expiry date
Simon McDonald 700,000 35 pence 17 October 2008 17 October 2012
John Feenan 609,000 35 pence 17 October 2008 17 October 2012
Peter Vanderspuy 166,667 35 pence 17 October 2008 17 October 2012
John Goodwin 138,889 35 pence 17 October 2008 17 October 2012
In addition to the price and duration conditions above the options will be
subject to the following conditions:
* Options will be forfeited on the termination of employment, unless the
remuneration committee or Board (in the case of employees) exercises their
discretion to allow them to vest.
* In the event of a change of control, merger or scheme of arrangement or
voluntary winding up the options will vest and may be exercised.
As a consequence of the issue of options referred to above, the Company now has
the following options on issue:
No of Options Exercise price per First Exercise date Expiry date
ordinary share
2,883,250 25 pence 10 October 2006 10 October 2010
3,719,222 35 pence 17 October 2008 17 October 2012
Total number of options on issue is 6,602,472.
END
For further information please contact:
Simon McDonald (Neptune MD and CEO): info@nepmins.com
Olly Cairns (Blue Oar Securities Plc, Nomad and Broker): T: +61 (0) 8 6430 1631
Sofia Rehman (Cardew Group, PR): T: +44 (0) 20 7930 0777
The Neptune Minerals Website is www.neptuneminerals.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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