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HIGH PEAK ROYALTIES LIMITED — Share Issue/Capital Change 2008
Jul 8, 2008
65070_rns_2008-07-08_1af67f1c-73a6-47df-913b-83070d182dc4.pdf
Share Issue/Capital Change
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ASX ANNOUNCEMENT 9 JULY 2008
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Issue of Options
Issue of Options to Directors and Company Secretary
Torrens Energy Limited wishes to advise that in accordance with the Company’s annual review of Board performance and remuneration, it proposes to issue, subject to shareholder approval at the next General Meeting of Shareholders, the following unlisted options to each of the Directors and Company Secretary.
Options to Directors: The following options to be issued to each of the Company’s Directors: Dennis Gee, Marcus Gracey, John Canaris and David Eiszele.
| Options | Vesting Date | Exercise Price | Expiry |
|---|---|---|---|
| 100,000 | 2 July 2009 | $0.44 | 30 June 2011 |
| 130,000 | 2 July 2009 | $0.66 | 30 June 2011 |
| 160,000 | 2 July 2009 | $0.99 | 30 June 2011 |
Options to Company Secretary: The following options to be issued to the Company Secretary: Jade Styants
| Options | Vesting Date | Exercise Price | Expiry |
|---|---|---|---|
| 50,000 | 2 July 2009 | $0.44 | 30 June 2011 |
| 65,000 | 2 July 2009 | $0.66 | 30 June 2011 |
| 80,000 | 2 July 2009 | $0.99 | 30 June 2011 |
This proposed issue of options recognises the individual contribution and experience of the above Officers and provides an incentive to secure their ongoing commitment.
Issue of Options to Employees
Torrens Energy Limited also wishes to advise that pursuant to the Torrens Energy Limited Incentive Share Option Scheme approved by shareholders on 20 November 2007 and in accordance with an employee remuneration review, the Board has resolved to issue 150,000 options to a key employee, with the following terms:
| Options | Vesting Date | Exercise Price | Expiry |
|---|---|---|---|
| 30,000 | 2 July 2009 | $0.44 | 30 June 2011 |
| 50,000 | 2 July 2009 | $0.66 | 30 June 2011 |
| 70,000 | 2 July 2009 | $0.99 | 30 June 2011 |
Please find attached an Appendix 3B.
TORRENS ENERGY LTD SUSTAINABLE ENERGY – RENEWABLE ENERGY 64 Thomas St, West Perth WA 6005 T: +61 8 9321 4566 E: [email protected] PO Box 781, West Perth WA 6872 F: +61 8 9321 4022 W: www.torrensenergy.com