Directors’ Interests

Directors’ Interests 25

Coalspur Mines non-executive chairman Ian Middlemas and non-executive directors Colin Steyn and Mark Pearce have each exercised options to acquire shares in the company at 8 cents each, while the coal miner’s shares are currently trading at $1.80 each. Mr Steyn has also acquired 6 million shares at a price of $1.78 each as part of a share placement, and transferred 650,000 shares in an off-market transaction to another Coalspur director Denis Turcotte. Mr Steyn’s stake of 123.5 million shares is currently valued at $222 million.

Rialto Energy non-executive director Chaim Lebovits has been issued 13.3 million shares as part consideration for Rialto’s purchase of the remaining share capital in C&L Natural Resources, a company Mr Lebovits founded. This brings his total stake in the oil and gas explorer to 13.5 million shares worth $5.8 million.