20th Apr 2006 07:00
Dwyka Diamonds Limited20 April 2006 Dwyka Diamonds Limited ("Dwyka" or "the Company") Issue of options under the Dwyka Diamonds Option Plans Dwyka announces that in accordance with the shareholder approval received on 28November 2003 and 30 November 2005, it has today issued 1,500,000 options underthe terms of the Dwyka Diamonds Option Plans to employees of the Company. Existing option plan Of the options issued today, 250,000 were issued under the terms of the DwykaDiamonds Option Plan, approved by shareholders on 28 November 2003, and theywill not be quoted on ASX or AIM, and may not be transferred without the priorwritten approval of the Board of Dwyka. The 250,000 options issued today areexercisable at A$0.87 each on or before 30 June 2009. The employees may onlyexercise their options in the following tranches: in respect of: (i) one third of the options issued, 12 months after the deemed date of the issue of the options (21 December 2006); (ii) another one third of the options issued, 24 months after the deemed date of the issue of the options (21 December 2007); and (iii) the remaining one third of the options issued, 36 months after the deemed date of the issue of the options (21 December 2008). Replacement option plan The remaining 1,250,000 options issued, were issued under the terms of the DwykaDiamonds Replacement Option Plan, approved by shareholders on 30 November 2005,and they will not be quoted on ASX or AIM, and may not be transferred withoutthe written approval of the Board of Dwyka. The 1,250,000 options today areexercisable at A$1.00 each on or before 30 June 2009. The employees may onlyexercise their options in the following tranches: in respect of: (i) one third of the options issued, 12 months after the deemed date of the issue of the options (21 December 2006); (ii) another one third of the options issued, 24 months after the deemed date of the issue of the options (21 December 2007); and (iii) the remaining one third of the options issued, 36 months after the deemed date of the issue of the options (21 December 2008). Shares which are issued as a result of the exercise of options granted under theoption plans will rank pari passu in all respects with all shares in issue, andthe Company will apply for quotation of those shares on ASX and AIM. For further information please contact: In Australia: In United Kingdom: Mike Langoulant Laurence Read/ Leesa Peters Dwyka Diamonds Limited Conduit PR +61 (0) 8 9324 2955 +44 (0) 20 7429 6605/ +44 (0) 7812 159 885 Or visit: http://www.dwykadiamonds.com/ This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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