Business
Share Appreciation Right Scheme and Notice of GM
Share Appreciation Right Scheme and Notice of GM.
About this update from Keras Resources Plc
[{"type":"text","content":"\n \nRNS Number : 6119W Keras Resources PLC 28 April 2016 \n\nKeras Resources plc / Index: AIM / Epic: KRS / Sector: Mining\n28 April 2016\nKeras Resources plc (\"Keras\" or \"the Company\")\nShare Appreciation Right Scheme and Notice of General Meeting\n \nKeras Resources Plc, the Australian gold mining company, is pleased to announce that it has established a Share Appreciation Right Scheme (the \"Scheme\") to incentivise Directors and senior executives through the grant of \"share appreciation rights\" (\"SARs\"). \n \nThe Company will grant SARs to Keras' Directors (the \"Directors\") under the Scheme, subject to the receipt of shareholder approval, which is to be sought at a general meeting of the Company (\"General Meeting\").\n \nAs such, a circular containing information about the background to and the rationale for the implementation of the Scheme will be posted to shareholders today (the \"Circular\"). The Circular contains a Notice of General Meeting which will be held at Craven House, West Street, Farnham, Surrey GU9 7EN on Monday 16 May 2016 at 11:00 am.\n \nThe key points which are set out in the Circular are presented below and a copy of the Circular is also available on the Company's website: http://www.kerasplc.com/ \n \nShare Appreciation Right Scheme \nKeras has established the Scheme to incentivise Directors and senior executives through the grant of SARs. \n \nSARs take the form of conditional rights to receive ordinary shares of 0.1p each in Keras (the \"Shares\") or cash to the value of the difference between the exercise price (the one day volume weighted average price (\"VWAP\") of a Share on the day prior to the exercise date) and the grant price (the three calendar month VWAP of a Share immediately preceding the date of grant of the SARs).\n \nA SAR may be exercised at any time between a given vesting date (\"Vesting Date\") and a final date (the \"Vesting Period\"). The Vesting Date is the date on which the Company confirms that any performance or other condition attaching to the SAR has been satisfied.\n \nOn the recommendation of Keras' Remuneration Committee, participants are granted SARs at the discretion of the Board and may be subject to such performance and other terms and conditions as the Board may determine, which may include the attain...