Rupert Resources Ltd (“the Company”) announces the issue of options to acquire shares in the Company (“options”) in accordance with the Company’s Stock Option Plan dated August 6, 2010 (the “plan”).
The Company granted a total of 2,625,000 options to certain directors, officers and employees of the Company. The options were granted on August 1, 2018 with an exercise price of $1.00 per share. The options are exercisable for a five-year period from the date of grant, with 50% of the options vesting after 12 months and the remainder after 24 months.
Following the award of the options, there are 10,015,000 options outstanding under the plan, representing 9.0% of the issued and outstanding shares of the Company.