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    Appointment of Managing Director and Chief Executive Officer

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    Sheikh Nasiruddin
    Heron Resources Limited has appointed Jonathan Shellabear as its new Managing Director and Chief Executive Officer effective August 1, 2011. Mr. Shellabear has extensive experience in the Australian and international mining industries from senior roles at NM Rothschild & Sons and Deutsche Bank. Most recently, he was Managing Director and CEO of Dominion Mining Limited until its acquisition in February 2011. As Managing Director and CEO of Heron, Mr. Shellabear will receive a base salary of $475,000 per year along with short-term and long-term incentive bonuses, including 6 million stock options vesting over three years.

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    Appointment of Managing Director and Chief Executive Officer

    Uploaded by

    Sheikh Nasiruddin
    46 views2 pages
    Heron Resources Limited has appointed Jonathan Shellabear as its new Managing Director and Chief Executive Officer effective August 1, 2011. Mr. Shellabear has extensive experience in the Australian and international mining industries from senior roles at NM Rothschild & Sons and Deutsche Bank. Most recently, he was Managing Director and CEO of Dominion Mining Limited until its acquisition in February 2011. As Managing Director and CEO of Heron, Mr. Shellabear will receive a base salary of $475,000 per year along with short-term and long-term incentive bonuses, including 6 million stock options vesting over three years.

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    Heron Resources Limited has appointed Jonathan Shellabear as its new Managing Director and Chief Executive Officer effective August 1, 2011. Mr. Shellabear has extensive experience in the Australian and international mining industries from senior roles at NM Rothschild & Sons and Deutsche Bank. Most recently, he was Managing Director and CEO of Dominion Mining Limited until its acquisition in February 2011. As Managing Director and CEO of Heron, Mr. Shellabear will receive a base salary of $475,000 per year along with short-term and long-term incentive bonuses, including 6 million stock options vesting over three years.

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    46 views2 pages

    Appointment of Managing Director and Chief Executive Officer

    Uploaded by

    Sheikh Nasiruddin
    Heron Resources Limited has appointed Jonathan Shellabear as its new Managing Director and Chief Executive Officer effective August 1, 2011. Mr. Shellabear has extensive experience in the Australian and international mining industries from senior roles at NM Rothschild & Sons and Deutsche Bank. Most recently, he was Managing Director and CEO of Dominion Mining Limited until its acquisition in February 2011. As Managing Director and CEO of Heron, Mr. Shellabear will receive a base salary of $475,000 per year along with short-term and long-term incentive bonuses, including 6 million stock options vesting over three years.

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    Heron Resources Limited

    ABN: 30 068 263 098


    Level1, 37 Ord Street, West Perth WA 6005
    Phone: +61 (0) 8 9215 4444
    Website: www.heronresources.com.au
    Email: info@heronresouces.com.au
    ASX: HRR

    ASX Release – 27 June 2011

    APPOINTMENT OF MANAGING DIRECTOR AND CHIEF EXECUTIVE OFFICER


    Heron Resources Limited (ASX:HRR) is pleased to announce Mr Jonathan Shellabear has been appointed Managing
    Director and Chief Executive Officer, effective from 1 August 2011.
    Mr Shellabear is a senior executive with extensive experience in the Australian and international mining industries having
    held senior corporate and investment banking roles with NM Rothschild & Sons (Australia) Limited and Deutsche Bank. Most
    recently he was the Managing Director and Chief Executive Officer of Dominion Mining Limited, a position he held until
    February 2011 following the completion of the agreed takeover of Dominion by Kingsgate Consolidated Limited.
    Mr Shellabear holds a Bachelor of Science degree with Honours in Geology from the University of Western Australia
    and a Master of Business Administration from the University of Western Australia.
    The key terms and conditions of Mr Shellabear’s employment are attached.
    The Chairman of Heron, Mr Craig Readhead said Mr Shellabear’s appointment reflected the Board’s determination to
    deliver shareholder value and fast track an organic and acquisitive growth program.
    “We are delighted to have been able to attract someone of Jonathan’s proven calibre and experience to lead the
    Company and we look forward to his contribution to the Company’s growth in what will be an exciting new phase for
    Heron,” Mr Readhead said.
    Mr Shellabear said Heron has a great opportunity to deliver significant value for shareholders.
    “The Company has an excellent portfolio of assets with unrealized potential and a robust corporate platform to facilitate
    growth. I am excited about joining Heron and I look forward to the challenge of developing the Company’s asset
    portfolio and enhancing shareholder value.”
    Mr Readhead concluded “With the appointment of Mr Shellabear, the Board is confident that we have the balance of
    skills, experience and leadership qualities necessary to identify additional growth opportunities along with advancing
    the organic opportunities within the Company. His commitment confirms that potential”.

    Craig Readhead
    Chairman

    For media inquiries, please contact: Paul Downie, FD, +61 414 947 129, +61 8 9386 1233
    Annexure
    Terms and Conditions of Appointment

    Base Salary: $475,000 per annum


    Short term Incentive (STI): An annual opportunity of up to 50% of base salary for outstanding performance based on
    achievement of both financial and non-financial KPIs.
    Long term Incentive (LTI): Subject to Shareholder Approval, the granting of 6 million options in three equal tranches.
    Tranche A: 2 million options with an exercise price at a 25% premium to the 5 day VWAP of Heron Resources
    Limited prior to acceptance of a letter of employment (23 June 2011). The options will vest in one year from 23
    June 2011 and have a term of three years.
    Tranche B: 2 million options with an exercise price at a 50% premium to the 5 day VWAP of Heron Resources
    Limited prior to acceptance of a letter of employment (23 June 2011). The options will vest in two years from
    23 June 2011 and have a term of four years.
    Tranche C: 2 million options with an exercise price at a 75% premium to the 5 day VWAP of Heron Resources
    prior to acceptance of a letter of employment (23 June 2011). The options will vest in three years from 23
    June 2011 and have a term of five years.

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