Stirling Resources Limited (ASX:SRE)
Perth, April 8, 2009 AEST (ABN Newswire) - Stirling Resources Limited (ASX:SRE) is pleased to provide further information for its forthcoming Loyalty Bonus issue of options to shareholders.
The Loyalty Bonus issue will recognise and reward the ongoing loyalty of shareholders as the Company gains momentum with its growing portfolio of investments in copper, zircon, gold, iron ore and coking coal assets.
The Loyalty Bonus options are to be issued for no consideration and will be distributed on the basis of one free option for every four shares held. The options will be exercisable at A$0.04 by 30 June 2012. The Company will apply for the options to be listed on the ASX.
It is anticipated that the record date for the Loyalty Bonus issue will be approximately three months after the Company's upcoming general meeting. The Company will keep shareholders informed as to the timing of the Loyalty Bonus issue.
This Loyalty Bonus issue was announced together with the Share Purchase Plan ("SPP") on 3 April 2009. The Company notes that the SPP is not required to be lodged with the Australian Securities and Investments Commission ("ASIC") and corrects the announcement made on 3 April 2009 by confirming that the SPP has not been lodged with the ASIC.
Shareholders who wish to increase the number of free options issued to them under the Loyalty Bonus issue can subscribe for additional shares under the SPP as per their entitlement forms despatched yesterday.
Shareholders will not be required to take any action to receive their bonus entitlement. The options are to be allocated as a loyalty bonus for those shareholders who remain registered as a shareholder on the record date.
As such, all current listed option holders who convert their options into shares in the Company will be entitled to participate in the Loyalty Bonus issue if they also are registered as a shareholder on the record date. Application Forms for the exercise of options are printed on the Option Holding Statements.
For more information, shareholders should contact the office of Stirling Resources Limited on +61-8-6389-6800.
Contact
Michael Kiernan
Managing Director
Tel: +61-8-6389-6800
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