Business
Serabi Gold plc: Award of Share Options
Serabi Gold plc: Award of Share Options.
About this update from Serabi Gold Plc
[{"type":"text","content":"\n Serabi Gold plc: Award of Share OptionsFor immediate release 2 July 2018Serabi Gold plc (“Serabi” or the “Company”)Award of Share OptionsThe Company announces that on 2 July 2018 the board of directors of Serabi agreed to award in aggregate 1,700,000 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.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.The options have an exercise price of 75.0 pence per share. The pricing of the options represents a 23 per cent premium to the London closing price as at 29 June 2018 of 61 pence, a 15 per cent premium to the London 10 day weighted average price and a 9 per cent premium to the 20 day weighted average price, both also as of 29 June 2018. The award represents 2.89% of the current issued share capital of 58,764,072 ordinary shares. Options granted to directors of the Company are as follows:DirectorNumber of new options over Ordinary SharesMike Hodgson400,000Clive Line300,000T Sean Harvey100,000Melvyn Williams125,000Aquiles Alegria100,000Nicolas Banados100,000Eduardo Rosselot100,000Mark Sawyer100,000Felipe Swett100,000 1,425,000The following disclosure is made in accordance with Article 19 of the EU Market Abuse Regulation 596/2014.1 Details of the person discharging managerial responsibilities / person closely associated a)Name1. Mike Hodgson2. Clive Line3. Terence Sean Harvey4. Melvyn Williams5. Aquiles Alegria6. Nicolas Banados7. Eduardo Rosselot8. Mark Sawyer9. Felipe Swett2 Reason for the notification a)Position/status1. Chief Executive Officer2. Finance Director3. Non-Executive Director4. Non-Execu...