For immediate
release 7
April 2017
Serabi Gold plc ("Serabi" or the
"Company")Award of Share Options
The Company announces that on 7 April 2017 the
board of directors of Serabi agreed to award in aggregate
15,650,000 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 24 June 2014. 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 5.00 pence
per share. The pricing of the options represents a 5 per cent
premium to the London closing price as at 6 April 2017 of 4.75
pence, a 1 per cent premium to the London 10 day weighted average
price and a 2 per cent premium to the 20 day weighted average
price, both also as of 6 April 2017. The award represents
2.24% of the current issued share capital of 698,701,772 ordinary
shares.
Options granted to directors of the Company are as
follows:
Director |
Number of new options over Ordinary Shares |
Mike
Hodgson |
4,000,000 |
Clive
Line |
3,000,000 |
T Sean
Harvey |
1,600,000 |
Melvyn
Williams |
1,300,000 |
Aquiles
Alegria |
1,000,000 |
Nicolas
Banados |
1,000,000 |
Eduardo
Rosselot |
1,000,000 |
Felipe
Swett |
1,000,000 |
|
13,900,000 |
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. Terence Sean Harvey
4. Melvyn Williams
5. Aquiles Alegria
6. Nicolas Banados
7. Eduardo Rosselot
8. Felipe Swett
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
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 0.5p each ("Ordinary Shares")
Identification code
GB00B4T0YL77
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 |
£0.0500 |
4,000,000 |
Clive
Line |
£0.0500 |
3,000,000 |
T Sean
Harvey |
£0.0500 |
1,600,000 |
Melvyn
Williams |
£0.0500 |
1,300,000 |
Aquiles
Alegria |
£0.0500 |
1,000,000 |
Nicolas
Banados |
£0.0500 |
1,000,000 |
Eduardo
Rosselot |
£0.0500 |
1,000,000 |
Felipe
Swett |
£0.0500 |
1,000,000 |
d)
Aggregated information
- Aggregated volume13,900,000 options over Ordinary Shares
- PricePrice payable on exercise of option - UK£0.05001/3
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
7 April 2017
f)
Place of the transaction
Outside a trading venue
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 LimitedNominated Adviser and Financial Adviser |
|
Roland
Cornish |
Tel: +44
(0)20 7628 3396 |
Michael
Cornish |
Tel: +44
(0)20 7628 3396 |
|
|
Peel
Hunt LLPUK Broker |
|
Matthew
Armitt |
Tel: +44
(0)20 7418 9000 |
Ross
Allister |
Tel: +44
(0)20 7418 9000 |
|
|
Blytheweigh Public Relations |
|
Tim
Blythe |
Tel: +44
(0)20 7138 3204 |
Camilla
Horsfall |
Tel: +44
(0)20 7138 3224 |
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 StatementThe 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 StatementsCertain
statements in this announcement are, or may be deemed to be,
forward looking statements. Forward looking statements are
identified 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 reflect 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
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