| Thu 22 May 2008, 10:36 | | EPS - Eastern Platinum Limited - News Release - Be |
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EPS
EPS
EPS - Eastern Platinum Limited - News Release - Best practice revisions to the
2008 stock option plan
EASTERN PLATINUM LIMITED
(Incorporated in Canada)
(Canadian Registration number BC0722783)
(South African Registration number 2007/006318/10)
Share Code TSX: ELR ISIN: CA2768551038
Share Code AIM: ELR ISIN: CA2768551038
Share Code JSE: EPS ISIN: CA2768551038
NEWS RELEASE
BEST PRACTICE REVISIONS TO THE 2008 STOCK OPTION PLAN
The Company announces that, following consultation with certain advisory groups
on corporate governance to take into account current best practices, it has
revised the terms of its stock option plan (the "Plan") to be presented to
shareholders for approval at the Company`s June 4, 2008 Annual General Meeting.
As revised, the Plan would limit options granted to any one non-executive
director in the aggregate to no more than 0.4% of the issued and outstanding
shares of the Company. This provision would replace that set forth in the
Company`s information circular dated April 23,2008 (the "Circular") which
contemplated that any one non-executive director was limited to options in the
aggregate not exceeding 1% of the issued and outstanding shares of the Company
or having a value not exceeding $1,000,000, calculated in accordance with the
Black-Scholes valuation method.
All other terms of the Plan as detailed in the Circular remain unaltered.
Total shares issued and outstanding: 680,090,604
For further information, please contact:
EASTERN PLATINUM LIMITED
Ian Rozier, President & C.E.O.
+1-604-685-6851 (tel)
+1-604-685-6493 (fax)
info@eastplats.com
www.eastplats.com
NOMAD - Canaccord Adams Limited
Ryan Gaffney - Ryan.Gaffney@CanaccordAdams.com
+44 20 7050 6500
JSE SPONSOR - PSG Capital (Pty) Limited
Anje Maasdorp - anjem@psgcapital.com
+27 21 887 9602
No stock exchange, securities commission or other regulatory authority has
approved or disapproved the information contained herein.
Certain statements included herein constitute "forward-looking statements"
within the meaning of applicable Canadian securities legislation. These forward-
looking statements are based on certain assumptions by Eastplats and Barplats
and as such are not a guarantee of future performance. Actual results could
differ materially from those expressed or implied in such forward-looking
statements due to factors such as general economic and market conditions,
increased costs of production and a decline in metal prices. Eastplats is under
no obligation to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, except as required by
applicable laws.
Date: 22/05/2008 10:36:52 Produced by the JSE SENS Department.
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