EMED Mining Public Limited: Amendment of Option Agreements
NICOSIA, CYPRUS -- (Marketwire) -- 03/25/13 -- EMED Mining Public Limited (AIM: EMED)
(TSX: EMD)
EMED Mining Public Limited (the "Company") announces that it has agreed
to vary the terms of certain option agreements dated 23 March 2009,
with the persons or entities set our below (the "Option Holders"). The
agreements grant to the Option Holder a right to subscribe for new
ordinary shares in the capital of the Company at a subscription price
of 4.13 pence per ordinary share during the option period which is due
to expire on 23 March 2013 (the "Option Period"). As previously
announced, the Company planned to release its audited annual accounts
for the year ended 31 December 2012 after the 23 March and therefore the
Option Period would expire during a close period (as defined under the
AIM Rules for Companies published by London Stock Exchange plc).
At the Company's AGM in 2011, shareholders approved the variation of
the Company's option agreements on a base-by-case basis to extend the
final exercise date of the option to a date not exceeding 10 business
days following the end of a close period. Accordingly, the Company has
now entered into a Deed of Amendment with each of the Option Holders to
extend the Option Period applicable to their options on this basis.
Details of the option agreements which have been amended are set out
below:
Option Holder Number of shares
subject to option
Samerang Enterprises Limited (beneficially owned 2,000,000
by Harry Anagnostaras-Adams)
DCC Geo Consultants Ltd (beneficially owned by 1,100,000
Dimtri Constantinedes)
Blue Strong Kolchis Consultants (beneficially 1,250,000
owned by Ronald Cunneen)
SABMAG Holdings Limited (beneficially owned by 1,500,000
John Leach)
Brilliant Shrewd Meg Resources Limited 500,000
(beneficially owned by John Ingram)
N Adamides Geological Services Ltd (beneficially 200,000
owned by Nicos Adamides)
Digger Suppa Annuation Fund (beneficially owned 1,000,000
by Ronnie Beevor)
Ross Bhappu 500,000
Ashwath Mehra 500,000
Angelo Farci 200,000
Enquiries
EMED Mining Harry Anagnostaras-Adams +357 9945 7843
RFC Ambrian Stuart Laing +61 8 9480 2500
Fox-Davies Capital Simon Leathers/Susan Walker +44 203 463 5022
Bishopsgate Communications Nick Rome +44 207 562 3350
Proconsul Capital Andreas Curkovic +1 416 577 9927
For further information on the Company's activities, visit
www.emed-mining.com
This information is provided by RNS
The company news service from the London Stock Exchange
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