Business
Award of Share Options
Award of Share Options.
About this update from Serabi Gold Plc
[{"type":"text","content":"\n \n \n Award of Share Options\n \n \n \n \n For immediate release\n \n 28 May 2020\n \n Serabi Gold plc \n (“Serabi” or the “Company”)\n Award of Share Options\n \n The Company announces that on 27 May 2020 the board of directors of Serabi agreed to award in aggregate 2,050,000 new options over ordinary shares to employees, directors and officers of the Company. The option grant is part of the Company's annual compensation review and the issuance is made under the Serabi 2011 Share Option Plan (the “2011 Plan”) which the Company adopted on 28 January 2011 and was re-affirmed by shareholders at the Company’s AGM held on 15 June 2017. The 2011 Plan allows the Company to issue a number of options up to an aggregate of 10% of its issued and outstanding common shares.\n The options granted will vest in three equal tranches, with one-third vesting and being exercisable immediately on award, one-third vesting on the first anniversary of the award and the remainder vesting on the second anniversary of the award and the options will lapse three years after the date of the award.\n The options have an exercise price of 85 pence per share. The pricing of the options represents a three per cent premium to the London closing price as at 27 May 2020 of 82.5 pence and a two per cent premium to the London 10 day weighted average price also as of 27 May 2020. The award represents 3.48% of the current issued share capital of 58,959,551 ordinary shares.\n Options granted to directors of the Company are as follows:\n \n \n Director\n Number of new options over Ordinary Shares\n \n \n Mike Hodgson\n 500,000\n \n \n Clive Line\n 350,000\n \n \n Melvyn Williams\n 150,000\n \n \n Aquiles Alegria\n 100,000\n \n \n Luis Azevedo\n 100,000\n \n \n Nicolas Banados\n 100,000\n \n \n T Sean Harvey\n 100,000\n \n \n Eduardo Rosselot\n 100,000\n \n \n Mark Sawyer\n 100,000\n \n \n \n 1,600,000\n \n \n The following disclosure is made in accordance with Article 19 of the EU Market Abuse Regulation 596/2014.\n \n 1 \n \n \n Details of the person discharging managerial responsibilities / person closely associated \n \n a)\n Name\n 1. Mike Hodgson\n 2. Clive Line\n 3. Melvyn Williams\n 4. Aquiles Alegria\n 5. Luis Azevedo\n 6. Nicolas Banados\n 7. T. Sean Harvey\...