BAAR, Switzerland, Sept. 23, 2011 /CNW/ - Manas Petroleum Corp.
("Manas"or the "Company") (TSX-V: MNP; OTCBB: MNAP) is pleased to
announce the results of its Annual and Special Meeting of Stockholders
held September 22, 2011, which was attended, in person or by proxy, by
shareholders holding 75,821,050 shares, or approximately 44% of the
shares entitled to vote at the meeting.
At the meeting, Heinz J. Scholz, Michael J. Velletta, Dr. Richard Schenz
and Dr. Werner Ladwein were elected to the Board of Directors, the
appointment of BDO AG as the Company's independent registered public
accounting firm was ratified, the Company's 2011 stock option plan was
adopted and the proposal to issue 2,000,000 shares to Dr. Werner
Ladwein was approved. However, because the proposal to increase
authorized capital from 300,000,000 common shares to 500,000,000 common
shares required the affirmative vote of more than 50% of the voting
power and because only 44% of the voting power was present at the
meeting in person or by proxy, this last proposal was not approved.
At a meeting of the Board of Directors held immediately following the
shareholder meeting, the Company's Board of Directors approved the
issuance of an aggregate total of 9,100,000 stock options to four
directors, two officers and one employee, none of whom is a U.S.
Person. Of the total, the Company granted options to purchase
4,000,000 shares to Dr. Werner Ladwein, 1,000,000 shares to each of
Heinz Scholz, Michael Velletta, Dr. Richard Schenz, Peter-Mark Vogel
and Ari Muljana, and one hundred thousand shares to an employee in its
Swiss executive office. All of these stock options are for a term of
ten years from the date of grant, have an exercise price of US$0.215
(being the closing share price, last sale of the day on September 21,
2011, on the OTC BB), and vest in four equal installments over 24
months, with installments vesting at six months, 12 months, 18 months
and 24 months after the date of grant.
About Manas Petroleum Corp.
Manas Petroleum is an international oil and gas company with primary
focus on exploration and development in South-Eastern Europe, Central
Asia and Mongolia. In Albania, Manas participates in a 1.7 million
acre exploration project through its equity interest in Petromanas
Energy Inc., a Canadian public company. In Kyrgyz Republic, Manas has
signed a US$54 million farm-out agreement with Santos International, a
subsidiary of one of Australia's largest oil and gas companies. In
addition to the development of its Kyrgyz Republic project, Santos is
developing the company's neighboring Tajikistan license under an option
farm out agreement. In Mongolia, Manas owns record title to the two
Production Sharing Contracts covering Blocks XIII and XIV through its
wholly-owned subsidiary Gobi Energy Partners GmbH, but 26% of the
beneficial ownership interest in these blocks is held in trust for
SOURCE Manas Petroleum Corp.
For further information:
Manas Petroleum Corp.
Bahnofstr. 9, P.O. Box 155
CH-6341 Baar, Switzerland
Phone: +41 44 718 1030
Fax: +41 44 718 1039