20th Aug 2008 13:00
Altona Resources Plc / Index: AIM / Epic: ANR / Sector: Exploration & Production
20 August 2008
Altona Resources Plc ('Altona' or 'the Company')
Issue of Options
Altona Resources Plc, the AIM listed Australian based energy company, announces the issue today of 24 million options to the directors of the Company, with a term of 5 years from the date of issue, as follows:
|
Director |
Position |
5p Exercise Price |
7p Exercise Price |
Total Options |
|
Christopher Lambert |
Executive Chairman |
3,000,000 |
3,000,000 |
6,000,000 |
|
Christopher Schrape |
Managing Director |
3,000,000 |
3,000,000 |
6,000,000 |
|
Anthony Samaha |
Finance Director |
2,500,000 |
2,500,000 |
5,000,000 |
|
Michael Zheng |
Non-Executive Director |
1,500,000 |
1,500,000 |
3,000,000 |
|
Norman Kennedy |
Non-Executive Director |
1,250,000 |
1,250,000 |
2,500,000 |
|
Phillip Sutherland |
Non-Executive Director |
750,000 |
750,000 |
1,500,000 |
|
Total Options |
12,000,000 |
12,000,000 |
24,000,000 |
The above options total approximately 6.7% of the current issued capital and have been issued to incentivise the directors of Altona towards further significant progress in the development of the Company's Arckaringa Coal Project and the achievement of value accretive milestones.
In addition to the above options to directors, a further 750,000 options have been issued today to an employee of the Company, with 375,000 exercisable at 5p and 375,000 exercisable at 7p. The options have a term of 5 years from the date of issue.
***Ends***
For further information visit www.altonaresources.com or please contact:
|
Christopher Lambert |
Chairman |
Tel: +44 (0) 207 024 8391 |
|
Christopher Schrape |
Managing Director |
Tel: +61 (0) 417 984 434 |
|
Hugh Oram |
Ambrian Partners Limited |
Tel: +44 (0) 207 634 4705 |
|
Victoria Thomas |
St Brides Media & Finance Ltd |
Tel: +44 (0) 207 236 1177 |
Notes to Editors:
About Altona
Altona Resources Plc is an Australian based energy Company that was admitted to trading on AIM in March 2005. Altona's primary focus is the completion of a bankable feasibility study for its wholly owned Arckaringa Project for an integrated 10 million barrel per year Coal to Liquid ('CTL') plant with a 560 MW co-generation power facility.
The Company holds, through its wholly owned subsidiary Arckaringa Energy Pty Ltd, a 100% interest in three exploration licences covering 2,500 sq. kms in the northern portion of the Permian Arckaringa Basin in South Australia. These include three coal deposits, Westfield (EL3360), Wintinna (EL3361) and Murloocoppie (EL3362). All three lie close to the Adelaide to Darwin railway and the Stuart Highway. Containing more than 7.5 billion tonnes of coal (based on previous JORC standards) these coal deposits are effectively one of the world's largest undeveloped energy banks, capable of conversion into clean liquid fuels, low cost power and high value industrial feedstocks.
About Coal-to-Liquids (also see www.altonaresources.com)
CTL is a proven technology which converts coal into more environmentally clean and manageable energy sources including gas and synthetic fuels. The process involves two major stages, gasification to produce synthetic gas ("Syngas") rich in hydrogen and carbon, and a liquefication stage where the Syngas is reacted over a catalyst to produce high quality, ultraclean synthetic fuels and chemical feedstocks.
CTL is a prime example of clean coal technology - the associated combined cycle units produce negligible sulphur oxides, significantly less nitrogen oxides and 10 - 20% less CO2 per unit of power generated than a conventional coal fired plant, whilst carbon capture and storage offers the potential to reduce the overall greenhouse gas emissions from CTL to below the "well to wheel" level of fuels derived from crude oil.
The technology is best demonstrated in South Africa, where currently 30% of the country's gasoline and diesel fuel needs are met through CTL plants
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