Advises Employee Issue of Securities
Vancouver, Mar 6, 2014 AEST (ABN Newswire) - Coalspur Mines Limited ("Coalspur" or "Company") (
ASX:CPL) (TSE:CPT) advises that the attached appendix 3B relates to the issue of securities to employees under the Company's Long Term Incentive Plans.
The Company also advises that President and CEO, Ms Gill Winckler, has been offered 2,257,514 Performance Rights and 1,007,514 Unlisted Options, subject to shareholder approval at the upcoming Annual General Meeting. The terms of these Performance Rights and Unlisted Options are as follows:
Performance Rights
Performance Condition:
Successful completion of performance tests
demonstrating that Vista Phase 1 facilities
meet performance guarantees under EPC contract
Expiry Date:
December 31, 2016
Number:
1,250,000
Performance Condition:
Clean coal production from the Vista Project over three consecutive months equals or exceeds an annualized rate of 6 million tonnes
Expiry Date:
December 31, 2016
Number:
1,007,514
Options
Unlisted options to be granted at an exercise price being the higher of CAD0.30, the Market Price (as defined by the ASX Listing Rules) of Shares on the date of grant and the VWAP of Shares for the five trading days preceding the date of grant. The options will vest on February 13, 2017 provided that construction of Phase 1 of the Vista Project has been completed by this date.
Further details will be provided in the Notice of Annual General Meeting to be circulated to shareholders.
View the Appendix 3B, please visit:
http://media.abnnewswire.net/media/en/docs/76720-ASX-CPL-669801.pdf
About Coalspur Mines Limited
Coalspur Mines Limited (ASX:CPL) (TSE:CPT) is a coal development company with approximately 55,000 hectares of coal leases located within the Hinton region of Alberta, Canada. Coalspur's flagship project is Vista, which covers approximately 10,000 hectares and provides a large scale, surface mineable, thermal coal development. Vista is located adjacent to CN Rail's main line, which is suitable for the transport of coal to deepwater ports on Canada's west coast. Coalspur has secured a port allocation agreement with Ridley Terminals Inc., which is essential to the logistics supply chain necessary to export coal from Vista to the growing demand from the Asia Pacific countries.
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