Business
Grant of Options
Grant of Options.
About this update from Bezant Resources Plc
[{"type":"text","content":"\n Tanzania Gold PLC\n15 June 2007\n\n\n 15 June 2007\n\n Tanzania Gold Plc\n ('Tanzania Gold' or 'the Company')\n\n Grant of Options\n\nTanzania Gold announces that the Board of the Company yesterday approved the\nadoption of a new unapproved share option plan and has today granted thereunder\noptions over, in aggregate, 2,197,800 ordinary shares of 0.2p each in the share\ncapital of the Company ('Shares') to Clive Sinclair-Poulton, the Company's Chief\nExecutive Officer, Mark Burchnall, an Executive Director of the Company, Dr\nBernard Olivier, the Company's Technical Director, Melissa Sturgess and Gerard\nNealon, both non-executive directors of the Company, and to a consultant of the\nCompany.\n\nAll of the share options granted are subject to a performance hurdle and may\nonly be exercised if the Company's middle market share price has increased by a\nspecified percentage on the first, second and third anniversaries of the date on\nwhich the options were granted.\n\nDetails of the grant of options to the directors of the Company are as follows:\n\nName Number of Exercise Date of Period during which Total number\n share price disclosure exercisable of share\n options per and options held\n granted Share transaction following\n this grant\n\nClive 439,560 91p 15 June The option vests in 439,560\nSinclair-Poulton 2007 three equal parts\n on 15 June 2008, 15\n June 2009 and 15\n June 2010.\n\nMark Burchnall 219,780 91p 15 June The option vests in 219,780\n 2007 three equal parts\n on 15 June 2008, 15\n June 2009 and 15\n June 2010.\n\nBernard 219,780 91p 15 June The option vests in 219,780\nOlivier 2007 three equal parts\n on 15 June 2008, 15\n June 2009 and 15\n June 2010.\n\nGerard 439,560 91p 15 June The option vests in 439,560\nNealon 2007 three equal parts\n on 15 June 2008, 15\n June 2009 and 15\n June 2010.\n\nMelissa 439,560 91p 15 June The option vests in 439,560\nSturgess 2007 three equal parts\n on 15 June 2008, 15\n June 2009 and 15\n June 2010.\n\nIn addition, options over a further 439,560 Shares were granted to a consultant\nto the Company on identical terms.\n\nThe share option plan will be ratified at the forthcoming EGM and the rules of\nthe plan will be available for inspection by shareholders at that meeting.\n\nFurther information:\n\nClive Sinclair-Poulton Tanzania Gold Plc Tel: +353 (85) 739 2674\nChief Ex...