23rd Dec 2009 07:01
NYOTA MINERALS LIMITED (ASX: NYO.ASX; AIM: NYO.L)
ISSUE OF OPTIONS TO EMPLOYEES AND CONSULTANTS
Nyota announces that 1,280,000 options over new ordinary shares of the Company ("Options") have been issued in accordance with the terms of the Company's Employee Option Plan ("Option Plan") to employees and consultants of the Company.
The Options issued pursuant to the terms of the Option Plan will not be quoted on the ASX or AIM and may not be transferred without the prior written approval of the Board of Nyota. The Options are exercisable at A$0.13 each on or before 31 December 2012. The employees may only exercise their Options in the following tranches. In respect of:
(i) one half of the Options issued, at any time after 31 December 2010; and
(ii) the remaining half of the Options issued, at any time after 31 December 2011.
Ordinary shares which are issued as a result of the exercise of Options granted under the Option Plan will rank pari passu in all respects with all existing ordinary shares and the Company will apply for quotation of such ordinary shares on the ASX and AIM.
The Company gives this notice pursuant to Section 708A(5)(e) of the Corporations Act. The Options were issued without disclosure to investors under Part 6D.2 of the Corporations Act, in reliance on Section 708A(5)(e) of the Corporations Act.
The Company, as at the date of this notice, has complied with:
(a) the provisions of Chapter 2M of the Corporations Act as they apply to the Company; and
(b) Section 674 of the Corporations Act.
There is no excluded information for the purposes of Sections 708A(7) and (8) of the Corporations Act.
For further information please contact:
Melissa Sturgess; CEO - Nyota Minerals Limited
(+44) (0)78 2555 1397 or [email protected]
Richard Brown
Ambrian Partners Limited
(+44) (0) 20 7634 4709
Press enquiries
Charlie Geller or Leesa Peters
Conduit PR
+44 (0)20 7429 6604/ +44 (0)752 823 3383
Related Shares:
Nyota Minerals