Toronto Ontario, June 4, 2008
- Nautilus Minerals Inc. (TSX & AIM: NUS)
(the "Company" or "Nautilus") announces the results of its Annual General Meeting ("AGM") held today and additional matters as set forth below.AGM -- Report of Voting Results
Pursuant to section 11.3 of Canadian National Instrument 51-102 -- Continuous Disclosure Obligations
, the Company provides the following report on the voting results of the matters considered at the AGM, the particulars of which are set out in more detail in the Company's Information Circular, dated April 14, 2008:
- Number of Directors: The shareholders approved setting the number of directors of the Company at six (6).
- Election of Directors: Geoffrey Loudon, David De Witt, David Heydon, Russell Debney, Farhad Moshiri and John O'Reilly were elected as directors of the Company for the ensuing year.
- Appointment and Remuneration of Auditor: PricewaterhouseCoopers LLP were re-appointed the auditor of the Company for the ensuing year and the directors were authorised to fix their remuneration.
- Amended Stock Option Plan: An amended 10% "rolling" stock option plan that replaces the Company's existing 10% "rolling" stock option plan was approved to facilitate the administration of the Company's stock options on a going forward basis.
None of the matters considered at the AGM required the vote to be conducted by ballot.New CEO and President
The Company announced on April 14, 2008 that, as part of the Company's succession plan, Stephen Rogers had been selected as the Company's new President and CEO. The transition with David Heydon, the Company's outgoing President and CEO, has been completed and the Company is pleased to announce that Stephen Rogers has been appointed as President and CEO, effective immediately.
Nautilus' outgoing CEO and President, David Heydon commented "I have been working closely with Steve Rogers over the last 18 months and we have built a strong relationship, this has enabled us to complete a smooth and effective handover in the last months. I look forward to continuing to work with Steve in my new capacity as non-executive director".New Director
Following the AGM the board of directors of the Company resolved to increase the size of the board to seven (7) members and appointed Stephen Rogers as an executive director of the Company.
The Company is required to disclose under the AIM Rules for Companies the following information in relation to the appointment of Stephen Rogers (53) as a director of the Company:Current directorships and partnerships held by Mr Rogers
NilDirectorships and partnerships held by Mr Rogers in the last five years
Clough Java Offshore Pte Ltd
Clough Oil & Gas India Pty Ltd
Clough Singapore Constructor Pte Ltd
Clough Sino-Thai Co. Ltd
Clough (Thailand) Co. Ltd
Clough UK Limited
PT Clough (Commissioner)
Peritia Project Management Pty Ltd
There is no further information, in connection with his appointment, which is required to be disclosed in accordance with Rule 17 and Schedule 2(g) of the AIM Rules for Companies.Grant of Options
The Company has granted 255,000 options to 6 employees of the Company effective from June 3, 2008 at a price of C$2.97 for a term of three years vesting as to 20% every six months for a period of 30 months starting six months from the date of grant.
In addition, the Company has granted 600,000 options to Stephen Rogers in conjunction with this appointment as President and CEO of the Company effective from June 3, 2008 at a price of C$2.97 for a term of three years vesting as to 20% every six months for a period of 30 months starting six months from the date of grant.Exercise of Options
As a result of the exercise of options, the Company has made an application for 20,000 common shares to be admitted to the AIM and TSX. The shares are expected to be admitted to trading on June 10, 2008.About Nautilus Minerals Inc.
Nautilus is the first company to commercially explore the ocean floor for gold and copper seafloor massive sulphide deposits and subject to timely permitting is positioning itself to become an emerging producer in 2010. The Company's main focus is the Solwara 1 Project, which is located in the territorial waters of Papua New Guinea in the western Pacific Ocean. Nautilus is listed on the TSX and on AIM, and has among its largest shareholders two of the world's leading international resource companies, Teck Cominco (7.2%) and Anglo American (5.7%). Epion (22.4%) is controlled by the founder of Metalloinvest one of the largest and fastest growing mining and metallurgical holdings in Russia.
For more information please refer www.nautilusminerals.com or contact:
Nautilus Minerals Inc. (Toronto)
Tel: +1 (416) 551 1100
Australian Project Office
Tel: +61 (7) 3318 5555
Numis Securities Limited (NOMAD)
John Harrison/James Black
Tel: + 44(0) 20 7260 1000 Neither the TSX nor the London Stock Exchange accept responsibility for the adequacy or accuracy of this press release.