June 30, 2021
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 27, 2020 (the “plan”).
The Company granted a total of 709,000 options to certain directors, officers, employees and consultants of the Company. The options were granted on June 30, 2021 with an exercise price of $5.00 per share. The options are exercisable for a five-year period from the date of grant, with 1/3rd of the options vesting after 12 months, 1/3rd after 24 months and the remainder after 36 months.
Following the award of the options, there are 11,015,000 options outstanding under the plan, representing 6.3% of the issued and outstanding shares of the Company.