Templar Minerals Ltd

Issue of Options

RNS Number : 5329T
Templar Minerals Limited
08 June 2009
 



For Immediate Release                                                                                                                     8 June 2009



Templar Minerals Limited

('Templar Minerals' or 'the Company')


Issue of Options


Further to the announcement on 22 April 2009, Templar Minerals announces that it has today agreed to issue 11.2 million new options to consultants. The subscription for new options in ordinary shares in the Company is at an exercise price of 2.35p per share being the closing mid price per share on 3 June 2009, with a term of 10 years from the date of this announcement. The new options represent 1.9% of the existing Ordinary shares in issue.


The new options have been issued pursuant to the Company's share option scheme as set out in the AiM Admission Document of the Company dated 4 May 2007. The options have been issued to consultants in relation to their ongoing work and project management within the Group, as part of their remuneration arrangementsThe options will vest 50% now and 50% on the first anniversary of the date of grant, also subject to each person continuing to act at least in their existing capacity within the Group.


Currently, Directors, staff and consultants take only a small part of their remuneration in the form of cash and the issue of the options as remuneration enables the Group to build an experienced management team whilst also maintaining the Group's cash reserves for the development of its assets.


Enquiries

Templar Minerals Limited

David Lenigas                                                                                Tel: +44 (0)20 7016 5100 

Beaumont Cornish Limited

Roland Cornish / Rosalind Hill Abrahams                                       Tel: +44 (0)20 7628 3396 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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