Business
MANAGEMENT APPOINTMENTS & GRANT OF SHARE OPTIONS
MANAGEMENT APPOINTMENTS & GRANT OF SHARE OPTIONS.
About this update from Kefi Gold And Copper Plc
[{"type":"text","content":"\n \nRNS Number : 5556D KEFI Minerals plc 01 February 2018 \n\n1 February 2018\nKEFI Minerals plc\n(\"KEFI\" or the \"Company\")\nMANAGEMENT APPOINTMENTS\nAND\nGRANT OF SHARE OPTIONS\nKEFI Minerals, the AIM-quoted gold and copper exploration and development company with projects in the Kingdom of Saudi Arabia and the Democratic Republic of Ethiopia, announces that it has expanded its senior management team as part of preparations for development and operations.\nIn addition, in accordance with the share option scheme of the Company (the \"Scheme\"), the Directors have approved the recommendation of the Remuneration and Nominations Committee to make a grant of share options over 12,600,000 new ordinary shares of the Company (\"Ordinary Shares\") to Certain Directors and senior managers (the \"Options\"). The Options have an exercise price of 4.5p per Ordinary Share, representing a c. 23% premium to the VWAP for the week commencing 22 January 2018. Following the grant of the Options, there will be options outstanding under the Scheme and pursuant to earlier arrangements over approximately 9.3%of the issued Ordinary Share capital as compared with the Scheme limit of 10%.\nManagement Appointments\nThree people have been appointed to the Company's senior management team (\"Excom\") which currently comprises Harry Anagnostaras-Adams (Executive Chairman) and John Leach (Finance Director). The three new appointments are the members of International Mining Performance: David Munro to serve as Head of Operations, Eddy Solbrandt as Head of Systems and Brian Hosking as Head of Human Resources and Technical Planning as from March 2018. Wayne Nicoletto remains as Managing Director, Ethiopia and Jeff Rayner as Adviser-Exploration Strategy. Brief descriptions of the new appointees are set out below. The Excom reports to the Company's Board via the Executive Chairman.\nThe Company considers the new appointees to be high calibre individuals, whose appointment is timed to provide the senior operational leadership required for the Company's exciting next chapter. They have committed to take at least half of their remuneration in KEFI shares, which is consistent with the past practice of the existing Excom. Their share-based fees for the first year will be based on the then agreed share market price also to be used for issuance of shares in th...