E-options to Warehouse

Stephen Tindall has clarified the status of 1 million share options in eVentures granted in his name.

Although the eVentures prospectus states the options were granted to him, he has signed a trust agreement with his company, The Warehouse, assigning the benefit of the options to it.

The prospectus, analysed in the Business Herald last Saturday, said eVentures issued 5 million shares to The Warehouse but it made no mention that Mr Tindall had made The Warehouse the beneficiary of the options.

In contrast, the prospectus spells out that two overseas directors of eVentures were granted 1 million each on behalf of the organisations they represent.