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PEEL MINING LIMITED — Share Issue/Capital Change 2008
Sep 1, 2008
65545_rns_2008-09-01_d8a7f51d-fffe-4886-a262-eb23e36c306b.pdf
Share Issue/Capital Change
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Exploring forgotten mineral fields
2 September 2008
Manager of Company Announcements Australian Securities Exchange Exchange Centre Level 3 20 Bridge Street SYDNEY NSW 2000
Dear Sir/Madam
PROPOSED ISSUE OF SECURITIES – DIRECTOR OPTIONS
In accordance with Listing Rule 3.10.3, Peel Exploration Limited ( Company ) wishes to advise that it proposes to grant director options to Mr Craig McGown, a NonExecutive Director of the Company as set out below.
| Class ofSecurity | Numberto beissued | Principal terms | IssuePrice | Purpose of issue | Shareholderapprovalrequired | Issuetoclass |
|---|---|---|---|---|---|---|
| DirectorOptions | 1,000,000 | Exercise price of$0.30 on orbefore 30 April2011 (Non-quoted) | Nil | To provide costeffective considerationto Mr McGown for hisongoing commitmentand contribution tothe Company | Shareholderapprovalwill besought atthe 2008AnnualGeneralMeeting | No |
The Company will provide shareholders with the Notice of Annual General Meeting where approval for the issue of the options will be sought. The Company will also lodge an Appendix 3B at the appropriate time in accordance with the Listing Rules of Australian Securities Exchange.
Yours faithfully
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DAVID HOCKING COMPANY SECRETARY
Peel Exploration Limited ACN 119 343 73 4 Telephone (08) 9382 3955 Fax (08) 9388 1025 Email [email protected] Level 1, 79 Hay Street, Subiaco, Western Australia 600 8