Business
Director / PDMR Shareholding
Director / PDMR Shareholding.
About this update from Serabi Gold Plc
[{"type":"text","content":"\n \n \n Director / PDMR Shareholding\n \n \n \n \n For immediate release\n \n \n 8\n Decem\n ber 2021\n \n \n Serabi Gold Plc\n \n (“Serabi” or the “Company”)\n \n Director / PDMR Shareholding\n \n Serabi announces that on 7 December 2021 the Board of Directors agreed to award in aggregate 864,500 Conditional Share Awards to employees (including directors) of the Company. The awards are part of the Company's normal annual compensation review and the issuance is made under the Serabi 2020 Restricted Share Plan (the “2020 Plan”) which was approved by shareholders on 16 June 2020 and adopted by the Board on 10 November 2020. Details of the 2020 Plan were set out in the Notice of Annual General Meeting dated 15 May 2020, and which is available from the Company’s website. \n While the intention of the Board is that awards under the 2020 Plan should be made annually, as a result of the exceptional circumstances in 2020, no awards under the 2020 Plan were made during 2020 following its approval by shareholders. The Board is therefore combining in this award the annual awards for 2020 and the annual awards for 2021.\n The awards are subject to a three-year performance period during which time certain performance criteria stipulated by the Board must be attained. The performance criteria and minimum thresholds to be achieved can be summarised as follows:\n \n 40% of the award is subject to Total Shareholder Return, (where TSR must be 1.2 times or more the BMO Junior Gold Index)\n 30% of the award is subject to Return on Capital Employed (where ROCE premium over Weighted Average Cost of Capital must be 1.2 times or more), and\n 30% of the award is subject to Return on Sales (where ROS must exceed average annual budget by 10 per cent or more)\n \n A total of 622,900 Conditional Share Awards have been granted by the Board, as recommended by the Remuneration Committee, to directors of the Company as follows:\n \n \n Director\n Award Year\n Percentage of Salary\n Number of Conditional Shares awarded\n \n \n Michael Hodgson\n 2020\n 50%\n 162,500\n \n \n \n 2021\n 50%\n 193,000\n \n \n Clive Line\n 2020\n 50%\n 128,600\n \n \n \n 2021\n 50%\n 138,000\n \n \n The remaining 241,600 Conditional Share Awards have been made to other employees of the Company. In all cases, the number of Conditional Shares awarded ...