Key points
- Non-executive directors received 1.8 million options and 400,000 loan shares at a 22-cent exercise price, vesting 20 per cent from Jan. 1, 2014 and every six months thereafter, expiring July 1, 2016.
- Employees, including officers, received 450,000 options and 4.1 million loan shares at a 24-cent exercise price, vesting 40 per cent on Jan. 1, 2015 and 60 per cent on Jan. 1, 2016, expiring July 1, 2016.
- The stock option plan and share loan plan, approved by shareholders, cap the combined shares issuable under both plans at 10 per cent of issued capital.
- Following the grants, Nautilus had 441,272,865 common shares, 4,975,000 options, and 446,247,865 shares on a fully diluted basis.
NAUTILUS MINERALS ISSUES OPTIONS AND LOAN SHARES
Nautilus Minerals Inc. has granted 1.8 million options and issued 400,000 loan shares to its non-executive directors as part of their remuneration for 2013. The company has also granted 450,000 options and issued 4.1 million loan shares to its employees, including officers, as part of the company’s retention plan for employees.
The options and loan shares were granted under the company’s stock option plan and share loan plan, which were approved by shareholders and limit the total number of shares under the two plans to a combined maximum of 10 per cent of the company’s issued capital.
The options and loan shares were granted to the non-executive directors at an exercise price of 22 cents, vesting as to 20 per cent commencing on Jan. 1, 2014, and 20 per cent every six months thereafter, and expiring on July 1, 2016.
The options and loan shares were granted to the employees, including officers, at an exercise price of 24 cents, vesting as to 40 per cent on Jan. 1, 2015, and 60 per cent on Jan. 1, 2016, and expiring on July 1, 2016.
Following the grant of the options and issue of the loan shares described in this press release, the issued capital of Nautilus is as shown in the table.
Security type No.
Common shares (including loan shares) 441,272,865
Options 4,975,000
Fully diluted 446,247,865
