Market Dynamics
Sierra Rutile Limited: Extension of exercise period for Options
Time: 2014-03-12 Source from: Sierra Rutile Limited
Sierra Rutile Limited ("Sierra Rutile") announces that further to the announcement dated 19 November 2013, senior management employees and directors (“Option Holders”) have been restricted from being able to exercise certain share options (the "Options"), pursuant to the Sierra Rutile's Share Option Plan (the "Share Option Plan"), which would otherwise lapse on 3 March 2014.
In order to allow Option Holders the opportunity to exercise their share options in accordance with the intent of the Remuneration Committee when the options were originally granted on 3 March 2011, the Board approved an amendment of the terms of the 7,493,750 Options granted to senior management employees and directors to extend the period for exercise of the Options until 31 July 2014 (the "Extension").
Other than the Extension, no other amendment has been made to the terms and conditions of the Options.