3rd Sep 2009 07:17
Dwyka Resources Limited ('Dwyka' or the 'Company')
Issue of shares and options under Employee Share and Option Plans
and
Notice under Section 708A(5)(e) of the Corporations Act 2001
Issue of Shares Under Share Plan
Dwyka Resources announces that in accordance with shareholder approval received at yesterday's shareholder meeting of an Employee Share Plan ('Plan') and of an issue of shares to directors under the Plan, Dwyka has today issued 2,750,000 ordinary shares ('Shares') under the terms of the Plan at an issue price of $0.11 per Share to Directors of the Company as follows:
|
Director |
Number of Shares issued |
|
Melissa Sturgess |
1,250,000 |
|
Mike Langoulant |
750,000 |
|
Evan Kirby |
750,000 |
In addition, in accordance with the terms of the Plan, Dwyka has today issued a further 2,250,000 Shares at an issue price of $0.11 per Share to other employees and consultants of the Company.
The Shares issued today under the terms of the Plan may not be sold or otherwise dealt with until the later to occur of the following:
(a) any loan in respect of the Share is repaid; and
(b) in respect of:
(i) one half of the Shares, at any time following the date which is 12 months after the date of issue of the Shares (3 September 2010) ; and
(ii) the remaining one half of the Shares, at any time following the date which is 24 months after the date of issue of the Shares (3 September 2011).
Application has now been made for the admission to trading of 5,000,000 Shares on the AIM Market of the London Stock Exchange ('Admission'). Admission is expected to occur on 9 September 2009.
Following these issues, Dwyka now has 223,828,625 Shares on issue.
Issue of Options Under Option Plan
Dwyka further announces that in accordance with shareholder approval received at yesterday's shareholder meeting of an Employee Option Plan ('Option Plan') and of an issue of options to a director under the Option Plan, Dwyka has today issued 750,000 Options under the terms of the Option Plan to Terrence McConnachie, a director of the Company. In addition, a further 5,050,000 Options have been issued in accordance with the terms of the 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 Dwyka. The Options are exercisable at $0.11 each on or before 30 September 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 following the date which is 12 months after the date of issue of the Options (3 September 2010); and
(ii) the remaining half of the Options issued, at any time following the date which is 24 months after the date of issue of the Options (3 September 2011).
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 Shares on issue, and the Company will apply for quotation of those Shares on the ASX and AIM.
The Company gives this notice pursuant to Section 708A(5)(e) of the Corporations Act.
The Shares 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
Dwyka Resources Limited
(+44) (0)78 2555 1397 or melissa@dwyresources.com
In United Kingdom
Richard Greenfield
Ambrian Partners Limited
(+44) (0)20 7634 4700
Press enquiries
Charlie Geller or Leesa Peters
Conduit PR
+44 (0)20 7429 6604/ +44 (0)79 7006 7320
Or visit: http://www.dwyresources.com
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Nyota Minerals