MMN macmin silver ltd

Pure speculation

  1. 3 Posts.
    Macmin today announced the conversion of 675,000
    employee options to ordinary shares at 4.5c per share.

    Resonable to think that some/all of these new MMN shares will find there way to the market soon ???
    Otherwise why exercise right now ??
    These options are good for another 4 years.

    << 1,675,000 Non transferable Options (Employee) exercisable between 25 September 2001 and 24 September 2006 at 4.5 cents >>

    Not a bad gain right now with the shares selling @ 12c
    Let's see how the price of silver performs in the short term. Could see some pressure on MMN - imo.
    -----------------------------------------------------
    FULL TEXT:
    Appendix 3B-Conversion of employee options

    MACMIN LIMITED 2002-06-05 ASX-SIGNAL-G

    HOMEX - Brisbane

    +++++++++++++++++++++++++
    APPENDIX 3B
    NEW ISSUE ANNOUNCEMENT

    APPLICATION FOR QUOTATION OF ADDITIONAL SECURITIES AND AGREEMENT

    Information or documents not available now must be given to ASX as
    soon as available. Information and documents given to ASX become
    ASX's property and may be made public.

    Introduced 1/7/96. Origin Appendix 5. Amended 1/7/98, 1/9/99,
    1/7/2000.

    Name of Entity
    Macmin Limited

    ACN or ARBN
    53 056 776 160

    We (the entity) give ASX the following information.


    PART 1 - ALL ISSUES
    You must complete the relevant sections (attach sheets if
    there is not enough space).



    1. Class of securities issued Ordinary Shares
    or to be issued

    2. Number of securities issued 675,000
    or to be issued (if known)
    or maximum number which
    may be issued

    3. Principal terms of the securities Ordinary Shares
    (eg, if options, exercise price
    and expiry date; if partly paid
    securities, the amount
    outstanding and due dates for
    payment; if convertible securities,
    the conversion price and dates
    for conversion)

    4. Do the securities rank equally Yes
    in all respects from the date
    of allotment with an existing
    class of quoted securities

    If the additional securities
    do not rank equally, please
    state:
    * the date from which they do
    * the extent to which they
    participate for the next
    dividend, (in the case of
    a trust, distribution) or
    interest payment
    * the extent to which they do
    not rank equally, other than
    in relation to the next
    dividend, distribution or
    interest payment

    5. Issue price or consideration $0.045 per share

    6. Purpose of the issue (if conversion of employee
    issued as consideration for options
    the acquisition of assets,
    clearly identify those
    assets)

    7. Dates of entering securities 5 June 2002
    into uncertified holdings
    or despatch of certificates

    NUMBER CLASS
    8. Number and class of all Refer attached
    securities quoted on schedule
    ASX (including the
    securities in clause
    2 if applicable)

    NUMBER CLASS
    9. Number and class of all Refer attached
    securities not quoted sechedule
    on ASX (including the
    securities in clause 2
    if applicable)

    10.Dividend policy (in the case No dividend distribution is
    of a trust, distribution envisaged in the near
    policy) on the increased future
    capital (interests)

    PART 2 - BONUS ISSUE OR PRO RATA ISSUE

    Items 11 to 33 are Not Applicable

    PART 3 - QUOTATION OF SECURITIES
    You need only complete this section if you are applying for quotation
    of securities

    Items 34 to 37 are Not Applicable
    34. Type of securities (tick one)

    (a) X Securities described in Part 1

    (b) All other securities

    Example: restricted securities at the end of the escrowed period,
    partly paid securities that become fully paid, employee incentive
    share securities when restriction ends, securities issued on expiry
    or conversion of convertible securities

    Entities that have Ticked Box 34(a)

    Additional Securities Forming a New Class of Securities
    (If the additional securities do not form a new class, go to 43)

    Tick to indicate you are providing the information or documents

    35. If the securites are equity securities, the names of
    the 20 largest holders of the additional securities,
    and the number and percentage of additional securities
    held by those holders

    36. If the securites are equity securities, a distribution
    schedule of the additional securities setting out the
    number of holders in the categories
    1 - 1,000
    1,001 - 5,000
    5,001 - 10,000
    10,001 - 100,000
    100,001 - and over

    37. A copy of any trust deed for the additional securities
    (now go to 43)

    Entities that have Ticked Box 34 (b)

    Items 38 to 42 are Not Applicable

    ALL ENTITIES

    Fees

    43. Payment method (tick one)

    Cheque attached

    Electronic payment made
    Note: Payment may be made electronically if Appendix 3B is
    given to ASX electronically at the same time.

    Periodic payment as agreed with the home branch has been
    arranged
    Note: Arrangements can be made for employee incentive
    schemes that involve frequent issues of securities.

    QUOTATION AGREEMENT

    1. Quotation of our additional securities is in ASX's absolute
    discretion. ASX may quote the securities on any conditions it
    decides.

    2. We warrant the following to ASX.

    * The issue of the securities to be quoted complies with the
    complies with the law and is not for an illegal purpose.

    * There is no reason why those securities should not be granted
    quotation.

    * An offer of the securities for sale within 12 months after
    their issue will not require disclosure under section 707(3)
    or section 1012C(6) of the Corporations Act.

    * Section 724 or section 1016E of the Corporations Act does not
    apply to any applications received by us in relation to any
    securities to be quoted and that no-one has any right to
    return any securities to be quoted under sections 737, 738 or
    1016F of the Corporations Act at the time that we request that
    the securities be quoted.

    * We warrant that if confirmation is required under section
    1017F of the Corporations Act in relation to the securities to
    be quoted, it has been provided at the time that we request
    that the securities be quoted.

    * If we are a trust, we warrant that no person has the right to
    return the securities to be quoted under section 1019B of the
    Corporations Act at the time that we request that the
    securities be quoted.

    3. We will indemnify ASX to the fullest extent permitted by law in
    respect of any claim, action or expense arising from or connected
    with any breach of the warranties in this agreement.

    4. We give ASX the information and documents required by this form.
    If any information or document not available now, will give it to
    ASX before quotation of the securities begins. We acknowledge that
    ASX is relying on the information and documents. We warrant that
    they are (will be) true and complete.


    G M Edwards
    DIRECTOR/COMPANY SECRETARY
    05/06/2002

    ANNEXURE "A"

    8. Number and class of all securities quoted on ASX (including the
    additional securities) -

    Note:

    NUMBER CLASS

    259,441,902 Ordinary Shares Fully Paid
    (including 9,000,000 additional)

    259,441,902 Total Shares

    90,576,608 Options exercisable on or before
    20 September 2005

    90,576,608 TOTAL OPTIONS


    9. Number and class of all Issued securities not quoted on ASX
    (including options, preference shares, convertible notes, partly paid
    shares, loan securities, etc)

    655,000 Non transferable Options (Employees) exercisable between
    1 December 1998 and 1 December 2002 at 20 cents.

    2,295,000 Non transferable Options (Employees) exercisable between
    28 May 2000 and 28 May 2004 at 20 cents.

    3,200,000 Non transferable Options (Directors) exercisable between
    4 July 2001 and 3 July 2002

    1,675,000 Non transferable Options (Employee) exercisable between
    25 September 2001 and 24 September 2006 at 4.5 cents.



 
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