15th Mar 2005 07:03
Murchison United NL15 March 2005 ASX and AIM Release 15th March 2005 APPOINTMENT OF MANAGING DIRECTOR AND CHIEF EXECUTIVE OFFICER The Company is pleased to announce that it has appointed Mark David Reilly asits Managing Director and Chief Executive Officer. Mr Reilly will be paid asalary of $163,500 per annum inclusive of superannuation. Mr Reilly will alsobe, subject to Shareholder approval, issued 3,500,000 options to acquireordinary shares in the Company at an exercise price of 5.5 cents. The optionswill not be exercisable until Mr Reilly has served not less than 6 monthscontinuous employment with the Company from the date of issue of the options.The Board of Murchison may, at its absolute discretion, pay Mr Reilly a bonus atany time during his employment as Managing Director if the Board believes MrReilly's performance warrants such a bonus. There is however no obligation onthe Company to pay Mr Reilly a bonus in any circumstances. Mr Reilly's employment contract is terminable upon 6 months written notice byeither party. The Notice of Meeting seeking approval for the issue of the options to Mr Reillyreferred above, as well as other matters including approval of the shareplacement announced previously, will be dispatched to Shareholders in the nextfew days. Please call Joe Schiavi with any queries. ________________________ Joe SchiaviCompany Secretary This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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