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24 Oct 2008 07:00
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24thΒ October 2008Β
VANE Minerals PlcΒ
("VANE" or the "Company")
RemunerationΒ Review andΒ Grant ofΒ OptionsΒ
Β
VANE Minerals today announcesΒ that followingΒ the results of aΒ remunerationΒ review carriedΒ outΒ by theΒ Company's RemunerationΒ Committee,Β It has been decided thatΒ shareΒ optionsΒ beΒ grantedΒ to Directors and senior managementΒ on the followingΒ terms,Β in line with theΒ Company's existing option scheme:
Acting upon the recommendation of the RemunerationΒ Committee, the Company yesterdayΒ awarded share optionsΒ to the following individuals:
|
Kris Hefton |
Director, VANE Minerals (US) LLC |
4,400,000 |
|
Matthew Idiens |
Commercial Director, VANE Minerals Plc |
2,200,000 |
|
Ian McNeill |
Finance Manager, VANE Minerals Plc |
1,750,000 |
|
Luis Perez |
Director, Minerals VANE SA de CV |
1,050,000 |
Commenting today,Β David Ingmire, head of the remuneration committee said:Β
"Those granted options have beenΒ influentialΒ in VANE securing theΒ Company's funding, generating revenues and a portfolio of highly prospective uranium projects which we are currently in the process of drilling.Β IΒ alsoΒ believe the work managementΒ hasΒ done bringing Uranium One into partnershipΒ with VANE deserves to be rewarded. At a time like this in the economic cycle, however,Β we areΒ also trying toΒ ensureΒ VANE is very secure when it comes toΒ retaining key staff to drive the business forward. The granting of today's options represents an opportunity forΒ Directors and managementΒ to benefit with other VANE shareholders inΒ aΒ successful realisation of the Company's strategyΒ ofΒ bringing North American uranium mines into production.Β It also shows the level of confidence the team has in its ability to grow the business."
For furtherΒ information, please contact:
|
VANE Minerals Plc |
+44 (0) 20 7667 6322 |
|
Matthew Idiens |
|
|
Ambrian PartnersΒ Limited |
+44 (0) 20 7634Β 4709Β |
|
Richard Brown |
|
|
Thomas Weisel Partners |
+44 (0) 20 7877 4478 |
|
Paul Newman |
|
|
Threadneedle CommunicationsΒ |
+44 (0)Β 20 7653 9850 |
|
Laurence Read/Beth Harris |
+44 (0) 79 7995 923 |
Notes to Editors
VANE Minerals is an exploration company, with a cash flow, financed in part by production from the Silver/GoldΒ Diablito MineΒ inΒ Western Mexico. The Company has assembled a highly qualified andΒ experienced management teamΒ with a proven track record in exploration and development. VANE now has projects inΒ Mexico,Β ParaguayΒ and theΒ US, incorporating exposure to gold, silver, copper and uranium. The Company's principal objective is to utilise the funds generated from Diablito to identify and explore undervalued and under-explored projects, create value in those projects and realise that value through exploitation or disposal to third parties. For furtherΒ information, please visitΒ www.vaneminerals.com.
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