NICOSIA, CYPRUS--(Marketwire - Mar 25, 2013) - EMED Mining Public Limited (
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
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