Business
Award of Options
Award of Options.
About this update from Serabi Gold Plc
[{"type":"text","content":"\n \n\n\n\n\n Award of options\n\nThe Company announces that the board of directors of Serabi (the \"Board\") has\nagreed to award in aggregate 1,130,000 new options over ordinary shares to its\nDirectors (representing 1.77% of the current issued share capital of 63,968,529\nordinary shares). The options are exercisable at C$0.60, equivalent to\napproximately UK£0.37 per ordinary share, which compares to the closing mid-\nmarket share price in London of 28.5 pence per ordinary share on 27 May 2011.\nThe option awards are as follows:\n\n Director Number of new options over Ordinary Shares\n\n Mike Hodgson 250,000\n\n Clive Line 250,000\n\n Sean Harvey 200,000\n\n Melvyn Williams 200,000\n\n Doug Jones 200,000\n\n Graham Roberts 30,000\n\n\nThe options have been granted under the Serabi Mining 2011 Share Option Plan\n(the \"2011 Plan\") which the Company adopted on 28 January 2011. The options\ngranted will vest in three equal tranches, with one-third vesting and being\nexercisable immediately on award, one-third vesting on the first anniversary of\nthe award and the remainder vesting on the second anniversary of the award and\nthe options will lapse three years after the date of the award.\n\nThe Board has made further option awards to other eligible participants of the\n2011 Option Plan representing a further 500,000 new options over ordinary shares\nalso with an exercise price of C$0.60 (approximately UK£0.37) and with the same\nvesting and expiry periods.\n\n\nEnquiries:\n\n Serabi Mining plc\n\n Michael Hodgson Tel: 020 7246 6830\n\n Chief Executive Mobile: 07799 473621\n\n\n\n Clive Line Tel: 020 7246 6830\n\n Finance Director Mobile: 07710 151692\n\n\n\n Email: [email protected]\n\n Website: www.serabimining.com\n\n\n\n Beaumont Cornish Limited\n Nominated Adviser\n\n Roland Cornish Tel: 020 7628 3396\n\n Michael Cornish Tel: 020 7628 3396\n\n\n\n Hybridan LLP\n UK Broker\n\n Claire Noyce Tel: 020 7947 4350\n\n\n\n Farm Street Communications\n Public Relations\n\n Simon Robinson Tel: 07593 340107\n\n\n\n Fig House Communications\n Investor Relations\n\n Rebecca Greco Tel: + 1 416 822 6483\n\n\n\nCopies of this release are available from the Company's website at\nwww.serabimining.com.\n\n\n\nNeither the Toronto Stock Exchange, nor any other securities regulatory\nauthority, has approved or disapproved ...