Key points
- Mel Togolo has been appointed PNG country manager effective Sept. 1, 2006, after 10 years as general manager corporate affairs at Placer Dome Niugini Ltd.
- Nautilus signed an agreement with UP Communications Ltd. of British Columbia to provide investor relations services for $5,000 per month plus expenses, effective April 24, 2006, for 19 months.
- UP Communications was granted 100,000 incentive stock options exercisable at $2.20 per share for two years, vesting over 19 months.
- The company granted 475,000 options to two officers at $2.20 per share for three years, and vice-presidents Justin Baulch and Glen Creed have left Nautilus.
Nautilus Minerals Inc. is confirming a number of updates.
The company has appointed Mel Togolo as the PNG country manager, effective Sept. 1, 2006. Mr. Togolo has 25 years experience working in senior roles in industry and government, both internationally and within PNG, is currently vice-president of the business council of PNG and in January, 2004, was made a commander of the Most Excellent Order of the British Empire (CBE) for services to commerce and industry. He has represented industry at board level including Westpac Ltd., Highlands Gold Ltd. and Bougainville Copper Ltd. and has been deputy chairman of investment promotion authority of PNG. For the last 10 years he has worked as general manager — corporate affairs, Placer Dome Niugini Ltd. Mr. Togolo studied philosophy and theology and has postgraduate degrees in economics and geography and has presented in excess of 20 papers on the impact of industry on the development of developing countries.
David Heydon commented: “We are pleased that Nautilus has been able to retain an individual with the skills and standing of Mel Togolo to represent the company in the key role of PNG country manager. In his role as PNG country manager Mel will play a critical role in facilitating the permitting process for the Solwara Au — Cu project. Mel’s appointment further reinforces the already considerable skill within the Nautilus management team and provides us with the understanding of, and relationships in PNG to deliver on our corporate goal of being the first company to develop subsea metal resources.”
The company has entered into an agreement with UP Communications Ltd. to provide investor relations services to the company. UPC, is a British Columbia company, that provides investor relations services to public companies. The company will pay UPC a fee of $5,000 per month plus expenses, effective from April 24, 2006, for a period of 19 months. In addition, the company has granted to UPC 100,000 incentive stock options for a period of two years with an exercise price of $2.20 per share vesting over 19 months.
The company has further granted a total of 475,000 options to two officers of the company at a price of $2.20 for a term of three years vesting as to 20 per cent every six months for a period of 30 months starting six months after the date of grant.
Justin Baulch, vice-president, exploration, and Glen Creed, vice-president, sustainability, have left the company. The company is currently interviewing new staff.
