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Churchill MD assigns options to Pala



06 November 2009 @ 03:29 pm BST

Churchill Mining managing director Paul Mazak has assigned 1,500,000 share options to Pala Investments Holdings.

The proceeds will be used to satisfy a family settlement.

The options comprise 1,200,000 with a strike price of 0.12 that expire on 28 March 2012 and 300,000 with a strike price of 0.20 that expire on 15 April 2010.

Pala has agreed to pay a consideration for the options based on valuing each ordinary share at 100p.

Story provided by Business Financial Newswire

© 2009 BFNNews.com. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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