TIDMSGZ

RNS Number : 6006U

Scotgold Resources Ltd

30 July 2020

Scotgold Resources Limited

30 July, 2020

Scotgold Resources Limited

Option Award and PCA Dealing

Scotgold Resources Limited (AIM: SGZ) ("Scotgold" or the "Company") announces that it has awarded Saint Consulting (UK) Limited 200,000 share options pursuant to services being provided for the construction activities required to complete the Cononish Gold and Silver Mine processing plant and other infrastructure ("Share Options").

The Share Options have an exercise price of 71p per depositary interest of no par value each and vest upon successful completion of hot commissioning of the Cononish mine processing plant if achieved on or before 31 December 2020. The Share Options shall lapse if unexercised by 31 December 2023.

Saint Consulting (UK) Limited is an entity controlled by Jason Saint, who is considered a person discharging managerial responsibility in the Company ("PDMR"), and, as such, constitutes a Person Closely Associated ("PCA") to Jason Saint for the purposes of the EU Market Abuse Regulation.

The Company currently has total issued capital of 51,351,733 ordinary shares and had 2,180,000 options in issue. On conclusion of the transactions described here, the Company will have a total of 2,380,000 options in issue which, if all options were exercised, would result in a fully diluted capital of 53,731,733 ordinary shares.

 
 1.     Details of the person discharging managerial responsibilities/person 
         closely associated 
  (a)   Full name                       Saint Consulting (UK) Limited 
         of person 
         Dealing 
       ------------------------------  --------------------------------------- 
 2.     Reason for notification 
       ----------------------------------------------------------------------- 
  (a)   Position/status                 PCA of Jason Saint, a PDMR 
       ------------------------------  --------------------------------------- 
  (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      200,000 
       ------------------------------  --------------------------------------- 
  (e)   Aggregated 
         information: 
         - Aggregated                     N/A 
         volume 
         - Price 
       ------------------------------  --------------------------------------- 
  (f)   Date of transaction             29 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 Limited   Tel: +44 (0)1838 400 
  Richard Gray                 306 
 SP Angel Corporate Finance   Tel +44 (0) 20 3470 
  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

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July 30, 2020 03:21 ET (07:21 GMT)

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