Red Metal Limited

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Home Investors ASX Announcements Issue of Incentive Options
Issue of Incentive Options
In accordance with resolutions passed at the Company’s Annual General Meeting held on 19 November 2015, the Company has issued a total of 1,200,000 options exercisable at 5 cents and expiring on 22 November 2018 to the Directors (comprising 600,000 options to Mr Rutherford and 300,000 options to each of Mr Barwick and Mr Pitt). The options are exercisable in two tranches, with 50% being exercisable at any time from the date of issue, and 50% being exercisable after 22 November 2016.
 
In addition, the Directors have issued 1,225,000 options exercisable at 5 cents and expiring on 22 November 2018 to technical and administrative staff. The options are exercisable in two tranches, with 50% being exercisable at any time from the date of issue, and 50% being exercisable after 22 November 2016. These incentive options are issued pursuant to the Company’s 15% capacity under the Australian Securities Exchange Listing Rules.
 
An Appendix 3B is attached.