Platinproduktion Aquarius Platinum Australia
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PR Newswire
London, September 16
Aquarius Platinum Limited ASX, JSE & LSE 16 September 2013 Board and Executive Management Cash reduction initiatives Aquarius Platinum Limited (Aquarius) advises a range of initiatives designed to reduce operating costs and conserve cash resources during the present difficult operating environment. To assist in the preservation of the Company's cash resources the non-executive directors have agreed to a reduction in directors' fees of 10% and offered to receive 25% of their remaining director fees in shares in lieu of cash subject to regulatory and shareholder approval at the Company's AGM to be held in late November 2013. The number of shares would be calculated by dividing 25% of the residual fee by the simple average of the share price over the preceding calendar quarter. The first affected payment would be due on 31 March 2014. In terms of an unsolicited proposal which Mr Nel, CEO, submitted to the Board on 3 July 2013, he offered to receive approximately 70% of his salary and any applicable bonuses he may receive over the next three years (commencing from 1 July 2013) in shares instead of cash. The number of shares to be issued will be fixed at 708,000 per annum and set at US$0.62 per share, being the VWAP of the share price on the LSE for the month of June 2013, being the month preceding the date of submission of the proposal. Any shares issued as part of a bonus will be issued on the same terms. In addition, Mr. Nel has, for the second consecutive year, asked not to be considered for a salary increase in 2014. The Remuneration Committee and Board of Aquarius, after having taken appropriate legal and governance advice unanimously approved the proposal, subject to shareholder approval. A Directors/Employees Share Plan (Plan) will be placed before shareholders for approval at the November 2013 AGM to allow participants to acquire shares in the Company by way of a salary sacrifice at terms and conditions as agreed. This Plan will act as a quasi long term incentive plan and reduce the cash component of remuneration of participating individuals. Participants will be entitled to sell some of the shares issued to them to the extent that it is required to cover any taxes due by the Participant. The Board of the Company believes that the implementation of the Directors/ Employees Share Plan, the proposed reduction in the cash component of Mr Nel's salary and the proposed amendments to non-executive directors' fees demonstrate an acknowledgement of the difficult operating conditions and need for restraint and also demonstrate a further alignment of: * the Company and its key executives, * a reduction in cash outflows at a time when corporate costs are being restructured, and * the long term objectives of the Company and its shareholders. With the initiatives detailed above as well as other corporate cost saving initiatives, Aquarius' cash corporate costs in the Group has been reduced by in excess of 50% to below $6 million per annum. Full details will be outlined in the Company's AGM notice of meeting that will be mailed to shareholders in early November 2013. For further information please contact: Jean Nel - CEO Willi Boehm - Company Secretary +27100012848 +61893675211 or visit: www.aquariusplatinum.com
Quelle: PR Newswire
18:35:16 1,62 $ 187
17:17:51 1,60 $ 130
15:30:16 1,62 $ 1.500
15:30:04 1,62 $ 500
GrB
PR Newswire
London, October 30
AQUARIUS PLATINUM LIMITED Exempt Company Number EC 26290 (Incorporated in Bermuda) Annual Report 2013 A copy of the above document has been submitted to the National Storage Mechanism and will shortly be available for inspection at: www.Hemscott.com/nsm.do The document is also available on the company's website www.aquariusplatinum.com and can be obtained in hard-copy format from the United Kingdom Secretaries, St James's Corporate Services Limited, Suite 31, Second Floor, 107 Cheapside, London, EC2V 6DN.
31 October 2013
Quelle: PR Newswire
LSE 45.25p -1.63% §
JSE R7.41 -0.87%§
http://aquariusplatinum.com/
Main Listing on the ASX, secondary listings on the LSE and the JSE and a sponsored Level 1 ADR in the USA.
FY2013 group attributable production increased by 13% to 325,103 PGM ounces (excluding operations on care and maintenance) (FY2012: 411,398 PGM ounces)
FY2013 revenue decreased by 24% to $371 million (FY2012: $486 million)
Aquarius is a focused, independent platinum group metals (PGMs) producer, with assets on both the Bushveld Complex in South Africa and the Great Dyke in Zimbabwe. These are the two most renowned PGM-bearing deposits in the world.
http://aquariusplatinum.com/why_invest