Scotgold Resources Ltd EMI Scheme and Grant of Options (7640R)
July 01 2020 - 10:17AM
UK Regulatory
TIDMSGZ
RNS Number : 7640R
Scotgold Resources Ltd
01 July 2020
Scotgold Resources Limited
1 July, 2020
Scotgold Resources Limited
("Scotgold" or the "Company)
Enterprise Management Incentive Scheme
Scotgold Resources Limited (AIM: SGZ) ("Scotgold" or the
"Company") announces that it has introduced an Enterprise
Management Incentive scheme (EMI Scheme). Pursuant to this scheme,
and where restrictions apply, a similar "Unapproved Scheme", the
following unlisted options have been awarded to the individuals
below, all of whom constitute PDMRs for the purpose of the EU
Market Abuse Regulation (the "Share Options") ( together, the
"Share Option Grant").
The Share Options shall be exercisable for a period of 5 years
from the date of grant (being todays date), at an exercise price of
71p per depositary interest of no par value each ("Ordinary Share")
and shall vest subject to performance based conditions as detailed
below.
-- 60% of the Share Options awarded will vest upon cumulative
gold equivalent production exceeding 500oz Au and 40% will vest
upon exceeding 10,000oz Au.
-- In the case of the CEO Richard Gray, 100% of the Share
Options will vest upon cumulative gold equivalent production
exceeding 500oz Au.
Individual Position Number of Share Options
Richard Gray CEO 400,000
---------------------- ------------------------
Marshall Badza Mine Manager 300,000
---------------------- ------------------------
Nigel Smalley (NS) Plant Manager 225,000
---------------------- ------------------------
Jeff Hogg Financial Controller 225,000
---------------------- ------------------------
As a condition for the granting of the new Share Options to
Nigel Smalley, the 120,000 options, exercisable at 34p, previously
held by him have been relinquished and cancelled.
The Company currently has total issued capital of 51,351,733
shares and had 1,150,000 options on issue. On conclusion of the
transactions described here, the Company will have a total of
2,180,000 options on issue which, if all options were exercised,
would result in a fully diluted capital of 53,531,733 shares.
1. Details of the person discharging managerial responsibilities/person
closely associated
(a) Full name Richard Gray
of person
Dealing
------------------------------- --------------------------------------
2. Reason for notification
-----------------------------------------------------------------------
(a) Position/status CEO
------------------------------- --------------------------------------
(b) Initial notification/ Initial notification
Amendment
------------------------------- --------------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-----------------------------------------------------------------------
(a) Name of entity Scotgold Resources Limited
------------------------------- --------------------------------------
(b) LEI 213800HL5A2K7LW2G360
------------------------------- --------------------------------------
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 Share Options
of the financial
instrument,
type of instrument
------------------------------- --------------------------------------
(b) Identification AU000XINEAK5
code
------------------------------- --------------------------------------
(c) Nature of Grant of Share Options
the transaction
------------------------------- --------------------------------------
(d) Price(s) Prices(s) Volume(s)
and volume(s) 71 pence 400,000
------------------------------- --------------------------------------
(e) Aggregated
information:
- Aggregated N/A
volume
- Price
------------------------------- --------------------------------------
(f) Date of transaction 1 July 2020
------------------------------- --------------------------------------
(g) Place of Outside a Trading Venue
transaction
------------------------------- --------------------------------------
1. Details of the person discharging managerial responsibilities/person
closely associated
(a) Full name Marshall Badza
of person
Dealing
------------------------------- --------------------------------------
2. Reason for notification
-----------------------------------------------------------------------
(a) Position/status Mine Manager
------------------------------- --------------------------------------
(b) Initial notification/ Initial notification
Amendment
------------------------------- --------------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-----------------------------------------------------------------------
(a) Name of entity Scotgold Resources Limited
------------------------------- --------------------------------------
(b) LEI 213800HL5A2K7LW2G360
------------------------------- --------------------------------------
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 Share Options
of the financial
instrument,
type of instrument
------------------------------- --------------------------------------
(b) Identification AU000XINEAK5
code
------------------------------- --------------------------------------
(c) Nature of Grant of Share Options
the transaction
------------------------------- --------------------------------------
(d) Price(s) Prices(s) Volume(s)
and volume(s) 71 pence 300,000
------------------------------- --------------------------------------
(e) Aggregated
information:
- Aggregated N/A
volume
- Price
------------------------------- --------------------------------------
(f) Date of transaction 1 July 2020
------------------------------- --------------------------------------
(g) Place of Outside a Trading Venue
transaction
------------------------------- --------------------------------------
1. Details of the person discharging managerial responsibilities/person
closely associated
(a) Full name Nigel Smalley
of person
Dealing
------------------------------- --------------------------------------
2. Reason for notification
-----------------------------------------------------------------------
(a) Position/status Plant Manager
------------------------------- --------------------------------------
(b) Initial notification/ Initial notification
Amendment
------------------------------- --------------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-----------------------------------------------------------------------
(a) Name of entity Scotgold Resources Limited
------------------------------- --------------------------------------
(b) LEI 213800HL5A2K7LW2G360
------------------------------- --------------------------------------
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 Share Options
of the financial
instrument,
type of instrument
------------------------------- --------------------------------------
(b) Identification AU000XINEAK5
code
------------------------------- --------------------------------------
(c) Nature of Grant of Share Options
the transaction
------------------------------- --------------------------------------
(d) Price(s) Prices(s) Volume(s)
and volume(s) 71 pence 225,000
------------------------------- --------------------------------------
(e) Aggregated
information:
- Aggregated N/A
volume
- Price
------------------------------- --------------------------------------
(f) Date of transaction 1 July 2020
------------------------------- --------------------------------------
(g) Place of Outside a Trading Venue
transaction
------------------------------- --------------------------------------
1. Details of the person discharging managerial responsibilities/person
closely associated
(a) Full name Jeff Hogg
of person
Dealing
------------------------------- --------------------------------------
2. Reason for notification
-----------------------------------------------------------------------
(a) Position/status Financial Controller
------------------------------- --------------------------------------
(b) Initial notification/ Initial notification
Amendment
------------------------------- --------------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-----------------------------------------------------------------------
(a) Name of entity Scotgold Resources Limited
------------------------------- --------------------------------------
(b) LEI 213800HL5A2K7LW2G360
------------------------------- --------------------------------------
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 Share Options
of the financial
instrument,
type of instrument
------------------------------- --------------------------------------
(b) Identification AU000XINEAK5
code
------------------------------- --------------------------------------
(c) Nature of Grant of Share Options
the transaction
------------------------------- --------------------------------------
(d) Price(s) Prices(s) Volume(s)
and volume(s) 71 pence 225,000
------------------------------- --------------------------------------
(e) Aggregated
information:
- Aggregated N/A
volume
- Price
------------------------------- --------------------------------------
(f) Date of transaction 1 July 2020
------------------------------- --------------------------------------
(g) Place of Outside a Trading Venue
transaction
------------------------------- --------------------------------------
1. Details of the person discharging managerial responsibilities/person
closely associated
(a) Full name Nigel Smalley
of person
Dealing
------------------------------ ---------------------------------------
2. Reason for notification
-----------------------------------------------------------------------
(a) Position/status
------------------------------ ---------------------------------------
(b) Initial notification/ Initial notification
Amendment
------------------------------ ---------------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-----------------------------------------------------------------------
(a) Name of entity Scotgold Resources Limited
------------------------------ ---------------------------------------
(b) LEI 213800HL5A2K7LW2G360
------------------------------ ---------------------------------------
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 Share Options
of the financial
instrument,
type of instrument
------------------------------ ---------------------------------------
(b) Identification AU000XINEAK5
code
------------------------------ ---------------------------------------
(c) Nature of Cancellation of Share Options
the transaction
------------------------------ ---------------------------------------
(d) Price(s) Prices(s) Volume(s)
and volume(s) 34 pence 120,000
------------------------------ ---------------------------------------
(e) Aggregated
information:
- Aggregated N/A
volume
- Price
------------------------------ ---------------------------------------
(f) Date of transaction 1 July 2020
------------------------------ ---------------------------------------
(g) Place of Outside a Trading Venue
transaction
------------------------------ ---------------------------------------
Certain information contained in this announcement would have
been deemed inside information for the purposes of Article 7 of
Regulation (EU) No 596/2014 until the release of this
announcement.
For further information please contact:
Scotgold Resources Tel: +44 (0)1838 400
Limited 306
Richard Gray
SP Angel Corporate Tel +44 (0) 20 3470
Finance LLP 0470
Nomad and Broker
Ewan Leggat / Charlie
Bouverat
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
MSCEASXFEFDEEFA
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