Anglesey Mining PLC Annual Financial Report -16-


proposed for the purpose of, or in connection with, a scheme for the 
reconstruction of the Company or its amalgamation with any other company or 
companies, all outstanding Options may be exercised, conditionally on the 
compromise or arrangement becoming effective, immediately prior to the Court 
sanctioning the compromise or arrangement and up to the date the compromise or 
arrangement becomes effective. If not so exercised, the Option shall lapse 
immediately. 
 
7.5 If notice is given of a resolution for the voluntary winding up of the 
Company, all outstanding Options may be exercised, conditionally on the 
passing of the resolution, at any time during the period commencing on the 
date the notice is given and ending on the commencement of the winding up. If 
not so exercised, the Options shall lapse immediately. 
 
7.6 The Company shall, as soon as reasonably practicable, notify each Option 
Holder of the occurrence of any of the events referred to in Rule 7 and 
explain how this affects his position under the Scheme. 
 
8 Alterations 
 
8.1 Subject to Rule 8.2, the Remuneration Committee may at any time alter or 
add to all or any of the provisions of this Scheme, or the terms of an Option 
granted under it, in any respect. 
 
8.2 No alteration or addition shall be made under Rule 8.1 which may 
materially adversely affect an Option Holder as regards an Option granted 
prior to the alteration or addition being made without the consent of Option 
Holders who, if they exercised their Options in full would thereby become 
entitled, in aggregate, to not less than three quarters of all the Shares 
which would fall to be allotted upon exercise in full of all outstanding 
Options. 
 
8.3 As soon as reasonably practicable after making any alteration or addition 
under Rule 8.1, the Company shall give notice in writing thereof to any Option 
Holder affected thereby. 
 
9 Listing 
 
9.1 While the Shares are listed or traded on OFEX, the Alternative Investment 
Market, the Official list of the London Stock Exchange, NASDAQ, EASDAQ or any 
other Recognised Investment Exchange, the Company shall, at its expense, make 
application for and use its reasonable endeavours to obtain listing for, or 
admission to trading on, such relevant exchange for Shares allotted pursuant 
to the exercise of any Option. 
 
10 Powers of Remuneration Committee and administration of Scheme 
 
10.1 The Remuneration Committee shall be responsible for, and shall have the 
conduct of, the administration of the Scheme, including but not limited to 
determining the Eligible Employees to whom, and subject to the rules of the 
scheme the terms on which, Options are granted. 
 
10.2 Subject to Rules 10.3 and 10.4, the decision of the Remuneration 
Committee shall be final and binding in all matters relating to the Scheme, 
including but not limited to the resolution of any ambiguity in the Rules of 
the Scheme, and it may at any time discontinue selecting Eligible Employees 
for the grant of further Options or amend any of the Rules of the Scheme in 
any way it thinks fit. 
 
10.3 Subject to Rules 10.4 and 10.5, no amendment may be made for the benefit 
of Option Holders to the Rules of the Scheme without the prior approval of the 
Company in general meeting except for: 
 
10.3.1 minor amendments to benefit the administration of the scheme, to take 
account of a change in legislation or to obtain or maintain favourable tax, 
exchange control or regulatory treatment for participants in the scheme or for 
the Company or for members of its group. 
 
10.3.2 an amendment which is necessary or desirable in order to comply with or 
take account of the requirements of the London Stock Exchange, the guidelines 
published by the Association of British Insurers, the National Association of 
Pension Funds or any other organisation representing institutional investors 
or any other legal or regulatory requirement or any proposed change thereto. 
 
10.4 The Remuneration Committee may, in its absolute discretion, send to 
Option Holders copies of any notice or other document sent to the Company's 
shareholders. 
 
11 Indemnity 
 
11.1 The Option Holder will indemnify the Company from and against all 
liability, actions, claims and reasonable costs in respect of any PAYE and 
related costs, fines or penalties, or employees' and employers' National 
Insurance contributions in respect of the exercise of an Option by the Option 
Holder in the event that the Company is held liable for such payment which 
sums shall become payable to the Company, within one month of the exercise of 
an Option in accordance with Rule 4. 
 
12 Miscellaneous 
 
12.1 The rights and obligations of any individual under the terms of his 
office or employment with any Group Member shall not be affected by his 
participation in this Scheme or any right which he may have to participate 
therein, and an individual who participates therein shall waive any and all 
claims to compensation or damages in consequence of the termination of his 
office or employment for any reason whatsoever insofar as those claims arise 
or may arise from his ceasing to have rights under or be entitled to exercise 
any Option as a result of such termination. 
 
12.2 Any notice or other communication under or in connection with this Scheme 
may be given by personal delivery or by sending the same by post, in the case 
of the Company to its registered office, and in the case of an individual to 
his last known address, or, where he is a director or employee of a Group 
Member, either to his last known address or to the address of the place of 
business at which he performs the whole or substantially the whole of the 
duties of his office or employment, and where a notice or other communication 
is given by first-class post, it shall be deemed to have been received 48 
hours after it was put into the post properly addressed and stamped. 
 
12.3 The Company shall at all times keep available for issue such authorised 
and unissued Shares as may be required to meet in full the subsisting 
subscription rights of Option Holders. 
 
12.4 In the event that Shares are transferred to an Option Holder in pursuance 
of any Option granted under this Scheme, the Option Holder shall, if so 
required by the person making the transfer, join that person in making a claim 
for relief under section 165 of the Taxation of Chargeable Gains Act 1992 in 
respect of the disposal made by him in effecting such transfer. 
 
12.5 The formation, existence, construction, performance, validity and all 
aspects whatsoever of this Scheme, any term of this Scheme and any Option 
granted under it shall be governed by English law. The English Courts shall 
have jurisdiction to settle any disputes which may arise out of or in 
connection with this Scheme. 
 
13 Termination 
 
The Company in general meeting or the Remuneration Committee may at any time 
resolve to terminate this Scheme in which event no further Options shall be 
granted but the provisions of this Scheme shall in relation to the Options 
then subsisting continue in full force and effect. 
 
 
Anglesey Mining plc 
 
Parys Mountain, Amlwch, Anglesey, LL68 9RE 
Phone 01407 831275 
mail@angleseymining.co.uk 
 
London office Painters' Hall 
9 Little Trinity Lane, London, EC4V 2AD 
Phone 020 7653 9881 
 
Labrador Iron - Toronto 220 Bay Street, Suite 700 
Toronto, Ontario, M5J 2W4, Canada 
Phone +1 647 728 4107 
 
Registrars Capita Asset Services 
Northern House, Woodsome Park 
Fenay Bridge, Huddersfield, HD8 0LA 
Phone 0871 664 0300 
 
Calls cost 10p per minute plus network extras 
From overseas +44 208 639 3399 
Fax 01484 600911 
 
Registered office Tower Bridge House, 
St. Katharine's Way, London, E1W 1DD 
 
Web site www.angleseymining.co.uk 
 
Company registered number 1849957 
 
Shares listed The London Stock Exchange - LSE:AYM 
 
 
Glossary 
 
AGM - the annual general meeting to be held on 30 September 2014. 
 
C$ - Canadian dollars. At 31 March 2014 GBP1 sterling was equivalent to C$1.84 
(2013 - C$1.55). 
 
DRO - direct railing ore - iron ore which can be mined and sold without any 
further processing. 
 
DSO - direct shipping ore - iron ore which can be mined and sold after a 
simple washing and screening operation. 
 
Hematite or haematite - iron oxide Fe2O3, one of the most abundant forms of 
iron ore. Chemically pure hematite is about 71% iron. 
 
JORC - Australasian Joint Ore Reserves Committee - a set of minimum standards 
for public reporting and displaying information related to mineral properties. 
 
LIM - Labrador Iron Mines Holdings Limited and its group of companies. 
 
mtpa - million tonnes per annum 
 
NI 43-101 - a standard equivalent to JORC used in Canada. 
 
tonne - metric tonne of 2,204.6 pounds avoirdupois, used for measuring current 
mineral production and resources. 
 
 
 
END
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