Business
Shares Option Scheme
Shares Option Scheme.
About this update from Cora Gold Ltd.
[{"type":"text","content":"\n \nRNS Number : 8488Z Cora Gold Limited 20 December 2017 \n\nThe information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 (\"MAR\"). Upon publication of this announcement via a regulatory information service (\"RIS\"), the inside information contained in this document is now considered to be in the public domain.\n \nCora Gold Limited / EPIC: CORA.L / Market: AIM / Sector: Mining\n20 December 2017\n Cora Gold Limited (\"Cora Gold\", \"Cora\" or \"the Company\")\nShare Option Scheme\n \nCora Gold Limited, the West African focused gold exploration company, announces the establishment of a share option scheme (the \"Scheme\") and the granting of options (the \"Options\").\n \nAs outlined in the Company's Admission Document dated 4 October 2017, the formation of a Scheme has been under consideration as a tool to further align the interests of the Board and Management with those of Cora Gold's shareholders.\n \nOn 18 December 2017 Options were granted over a total of 2,550,000 ordinary shares of no par value in the capital of the Company (\"Ordinary Shares\"), equivalent to 4.64% of the current issued Ordinary Shares. The exercise price of the Options is 16.50 pence per Ordinary Share, a premium of 34.69% to the previous trading day's closing mid-market price of the Ordinary Shares. The Options are for a period of five years from the Date of Grant.\n \nThe Options are subject to the following principal conditions:\n \n1. Each option holder executing an option deed letter with the Company (\"Grant Date\"); \n2. Approval by shareholders at the Company's next annual general meeting (\"Approval\");\n3. The Options are not assignable or transferable;\n4. The option holder remaining a director, employee or consultant to the Company or a subsidiary of the Company, or for a period not exceeding six-months of them ceasing to be such, or twelve-months in the event of death; \n5. One quarter of the Options vesting immediately on the later of the Grant Dat...