Serabi Gold plc Award Of Share Options
28 Maggio 2020 - 11:30AM
UK Regulatory
TIDMSRB
For immediate release
28 May 2020
Serabi Gold plc
("Serabi" or the "Company")
Award of Share Options
The Company announces that on 27 May 2020 the board of directors of
Serabi agreed to award in aggregate 2,050,000 new options over ordinary
shares to employees, directors and officers of the Company. The option
grant is part of the Company's annual compensation review and the
issuance is made under the Serabi 2011 Share Option Plan (the "2011
Plan") which the Company adopted on 28 January 2011 and was re-affirmed
by shareholders at the Company's AGM held on 15 June 2017. The 2011
Plan allows the Company to issue a number of options up to an aggregate
of 10% of its issued and outstanding common shares.
The options granted will vest in three equal tranches, with one-third
vesting and being exercisable immediately on award, one-third vesting on
the first anniversary of the award and the remainder vesting on the
second anniversary of the award and the options will lapse three years
after the date of the award.
The options have an exercise price of 85 pence per share. The pricing of
the options represents a three per cent premium to the London closing
price as at 27 May 2020 of 82.5 pence and a two per cent premium to the
London 10 day weighted average price also as of 27 May 2020. The award
represents 3.48% of the current issued share capital of 58,959,551
ordinary shares.
Options granted to directors of the Company are as follows:
Director Number of new options over Ordinary Shares
----------------- ------------------------------------------
Mike Hodgson 500,000
Clive Line 350,000
Melvyn Williams 150,000
Aquiles Alegria 100,000
Luis Azevedo 100,000
Nicolas Banados 100,000
T Sean Harvey 100,000
Eduardo Rosselot 100,000
Mark Sawyer 100,000
1,600,000
------------------------------------------
The following disclosure is made in accordance with Article 19 of the EU
Market Abuse Regulation 596/2014.
1
Details of the person discharging managerial responsibilities / person
closely associated
a)
Name
1. Mike Hodgson
2. Clive Line
3. Melvyn Williams
4. Aquiles Alegria
5. Luis Azevedo
6. Nicolas Banados
7. T. Sean Harvey
8. Eduardo Rosselot
9. Mark Sawyer
2
Reason for the notification
a)
Position/status
1. Chief Executive Officer
2. Finance Director
3. Non-Executive Director
4. Non-Executive Director
5. Non-Executive Director
6. Non-Executive Director
7. Non-Executive Director
8. Non-Executive Director
9. Non-Executive Director
b)
Initial notification /Amendment
Initial Notification
3
Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a)
Name
Serabi Gold plc
b)
LEI
213800LTYC1HF9RTUE37
4
Details of the transaction(s): section to be repeated for (i) each type
of instrument; (ii) each type of transaction; (iii) each date; and (iv)
each place where transactions have been conducted
a)
Description of the financial instrument, type of instrument
Options over Ordinary Shares of 10p each ("Ordinary Shares")
Identification code
GB00BG5NDX91
b)
Nature of the transaction
Issue of Options over Ordinary Shares
c)
Price(s) and volume(s)
Director Price payable on exercise of option Volume(s)
----------------- ------------------------------------ ---------
Mike Hodgson GBP0.850 500,000
Clive Line GBP0.850 350,000
Melvyn Williams GBP0.850 150,000
Aquiles Alegria GBP0.850 100,000
Luis Azevedo GBP0.850 100,000
Nicolas Banados GBP0.850 100,000
T Sean Harvey GBP0.850 100,000
Eduardo Rosselot GBP0.850 100,000
Mark Sawyer GBP0.850 100,000
d)
Aggregated information
- Aggregated volume
1,600,000 options over Ordinary Shares
- Price
Price payable on exercise of option -- UKGBP0.8500
1/3 exercisable immediately on award;
1/3 vesting on the first anniversary of the award; and 1/3 vesting on
the second anniversary of the award
e)
Date of the transaction
27 May 2020
f)
Place of the transaction
Outside a trading venue
The person who arranged for the release of this announcement on behalf
of the Company was Clive Line, Director.
Enquiries:
Serabi Gold plc
Michael Hodgson Tel: +44 (0)20 7246 6830
Chief Executive Mobile: +44 (0)7799 473621
Clive Line Tel: +44 (0)20 7246 6830
Finance Director Mobile: +44 (0)7710 151692
Email: contact@serabigold.com
-----------------------------
Website: www.serabigold.com
-----------------------------
Beaumont Cornish Limited
Nominated Adviser and
Financial Adviser
Roland Cornish Tel: +44 (0)20 7628 3396
Michael Cornish Tel: +44 (0)20 7628 3396
Peel Hunt LLP
UK Broker
Ross Allister Tel: +44 (0)20 7418 9000
Copies of this announcement are available from the Company's website at
www.serabigold.com.
Neither the Toronto Stock Exchange, nor any other securities regulatory
authority, has approved or disapproved of the contents of this
announcement.
Qualified Persons Statement
The scientific and technical information contained within this
announcement has been reviewed and approved by Michael Hodgson, a
Director of the Company. Mr Hodgson is an Economic Geologist by training
with over 26 years' experience in the mining industry. He holds a BSc
(Hons) Geology, University of London, a MSc Mining Geology, University
of Leicester and is a Fellow of the Institute of Materials, Minerals and
Mining and a Chartered Engineer of the Engineering Council of UK,
recognising him as both a Qualified Person for the purposes of Canadian
National Instrument 43-101 and by the AIM Guidance Note on Mining and
Oil & Gas Companies dated June 2009.
Forward Looking Statements
Certain statements in this announcement are, or may be deemed to be,
forward looking statements. Forward looking statements are identi ed by
their use of terms and phrases such as "believe", "could", "should"
"envisage", "estimate", "intend", "may", "plan", "will" or
the negative of those, variations or comparable expressions, including
references to assumptions. These forward looking statements are not
based on historical facts but rather on the Directors' current
expectations and assumptions regarding the Company's future growth,
results of operations, performance, future capital and other
expenditures (including the amount, nature and sources of funding
thereof), competitive advantages, business prospects and opportunities.
Such forward looking statements re ect the Directors' current beliefs
and assumptions and are based on information currently available to the
Directors. A number of factors could cause actual results to differ
materially from the results discussed in the forward looking statements
including risks associated with vulnerability to general economic and
business conditions, competition, environmental and other regulatory
changes, actions by governmental authorities, the availability of
capital markets, reliance on key personnel, uninsured and underinsured
losses and other factors, many of which are beyond the control of the
Company. Although any forward looking statements contained in this
announcement are based upon what the Directors believe to be reasonable
assumptions, the Company cannot assure investors that actual results
will be consistent with such forward looking statements.
ENDS
Attachment
-- Option Awards vWEB
https://ml-eu.globenewswire.com/Resource/Download/d79fd4fe-64ba-4be0-8992-fbfdf5490c2d
(END) Dow Jones Newswires
May 28, 2020 05:30 ET (09:30 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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