Proposed issue of options to non-exec director (3689X)
14 Febbraio 2012 - 9:30AM
UK Regulatory
TIDMBKY
RNS Number : 3689X
Berkeley Resources Limited
14 February 2012
14 February 2012
BERKELEY RESOURCES LIMITED
Proposed Issue of Options to Non-Executive Director
The Board of Berkeley Resources Limited (the Company) advises
that it proposes to issue 250,000 incentive options at an exercise
price of $0.44 (being 125% of the 5 day VWAP) expiring 4 years from
the date of issue to its recently appointed Non-Executive Director
Mr Laurie Marsland. The options will be subject to shareholders
approval at the Company's next shareholder meeting, and will vest
equally over a 3 year period, with all options vesting
automatically on a Change of Control event.
Following the issue of these options, Mr Laurie Marsland will
have a total of 250,000 options over the Company's ordinary shares
at an exercise price of $0.44.
It has been the Company's policy to award Directors and
Employees with incentive options to align their interests with
those of shareholders and conserve cash while properly remunerating
all staff. The policy of awarding incentive options allows the
Company to attract highly experienced and qualified Board members
in a competitive market.
Enquiries - Managing Director: Brendan James Tel: +34 923 193 903
RBC Capital Markets: Martin Eales Tel: +44 20 7029 7881
This information is provided by RNS
The company news service from the London Stock Exchange
END
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