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DEVELOP GLOBAL LIMITED — Capital/Financing Update 2009
Jul 1, 2009
64801_rns_2009-07-01_45e1d6d4-0fd7-4ed8-adef-eb4d4eb0cd96.pdf
Capital/Financing Update
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ASX Announcement Code: VXR
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2 July 2009
Proposed Issue of Unlisted Options
Following the appointment of Mr Anthony Reilly as an Executive Director, the Board of Venturex Resources Limited has granted to Mr Reilly, subject to Shareholder approval at the next General Meeting, 5,000,000 unlisted options to acquire shares in the Company.
The proposed issue of unlisted options to Mr Reilly represents a component of an appropriate remuneration package linked directly to the performance of the Company.
Mr Reilly’s primary focus will be the ongoing development of the Company’s Brazilian business arm (CMG Mineracao Limitada) and general commercial management.
In accordance with ASX Listing Rule 3.10.3, the following information is provided regarding the issue of the options:
For further details:
Dr Tim Sugden Managing Director T: +61 8 6424 9188 M: +61 407 085 032 E: [email protected]
Board
Allan Trench Non-Executive Chairman
Tim Sugden Managing Director Michael Mulroney Non-Executive Director
Class of Securities: Unlisted Options Number of Securities: 5,000,000 in two tranches Principal Terms: Exercise Price: $0.15 Term of Options is three years from date of issue Vesting Conditions: 1) 2,500,000 12 months after date of issue 2) 2,500,000 24 months after date of issue Non-vested options will expire if Mr Reilly leaves the Company for any reason prior to the vesting dates. Issue Price/Consideration: Nil Purpose of the Issue: As part of reasonable remuneration for the Executive Director Shareholder Approval: The Company will seek Shareholder approval at the AGM (if not before) Class of Securities: The issue will not be made to a class of security holders
Liza Carpene Company Secretary
TIM SUGDEN Managing Director
Contact Details
Registered Office: Level 1 35 Richardson Street West Perth WA 6005 T: +61 8 6424 9188 F: +61 8 9463 7836
E: [email protected] W: www.venturexresources.com
ABN: 28 122 180 205
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