Microsoft Word - 2015 Option Awards (Web Final)
PRESS RELEASE 23 JANUARY 2015
SERABI GOLD plc ("Serabi" or "the Company")
Award of Share Options
The Company announces that on 22 January 2015 the board of directors of Serabi agreed to award in aggregate 15,000,000 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 last AGM held on 24
June 2014. 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 5.5 pence per share. The pricing of the options represents a 18% premium to the
London 5 day volume weighted average price and a 31% premium to the 20 day volume weighted average price, both as of
21 January 2015. The London closing price as at 21 January 2015 was 5.375 pence. The award represents 2.285% of the current issued share capital of 656,389,204 ordinary shares.
Options granted to directors of the Company are as follows:
|
Director
|
Number of new options over Ordinary Shares
|
|
Mike Hodgson
|
3,900,000
|
|
Clive Line
|
2,800,000
|
|
T Sean Harvey
|
1,600,000
|
|
Melvyn Williams
|
1,300,000
|
|
Aquiles Alegria
|
1,000,000
|
|
Nicolas Banados
|
1,000,000
|
|
Eduardo Rosselot
|
1,000,000
|
|
Felipe Swett
|
1,000,000
|
|
13,600,000
|
Enquiries
SERABI GOLD plc
Michael Hodgson t +44 (0)20 7246 6830
Chief Executive m +44 (0)7799 473621
Clive Line t +44 (0)20 7246 6830
Finance Director m +44 (0)7710 151692
e [email protected] www.serabigold.com
BEAUMONT CORNISH Limited
Nominated Adviser & Financial Adviser
Roland Cornish t +44 (0)20 7628 3396
Michael Cornish t +44 (0)20 7628 3396
PEEL HUNT LLP UK Broker
Matthew Armitt t +44 (0)20 7418 9000
Ross Allister t +44 (0)20 7418 9000
Blytheweigh
UK Public Relations
Tim Blyth t +44 (0)20 7138 3204
m +44 7816 924626
Halimah Hussain t +44 (0)20 7138 3203
m +44 7725 978141
Copies of this release are available from the Company's website at www.serabigold.com
SERABI GOLD PLC
2nd Floor, 30-32 Ludgate Hill, London EC4M 7DR This document is not intended to and does t +44 (0)20 7246 6830 f +44 (0)20 7246 6831 e [email protected] www.serabigold.com not amount to an invitation or inducement to Registered Office 66 Lincoln's Inn Fields, London, WC2A 3LH Company Number 5131528 subscribe for shares in Serabi Gold plc
PRESS RELEASE 23 JANUARY 2015
SERABI GOLD plc ("Serabi" or "the Company")
Qualified Persons Statement
The scientific and technical information contained within this announcement has been reviewed and approved by Michael Hodgson, a Director of the Company. Mr Hodgson is an Economic Geologist by training with over 26 years' experience in the mining industry. He holds a BSc (Hons) Geology, University of London, a MSc Mining Geology, University of Leicester and is a Fellow of the Institute of Materials, Minerals and Mining and a Chartered Engineer of the Engineering Council of UK, recognising him as both a Qualified Person for the purposes of Canadian National Instrument 43-101 and by the AIM Guidance Note on Mining and Oil & Gas Companies dated June 2009.
Forward Looking Statements
Certain statements in this announcement are, or may be deemed to be, forward looking statements. Forward looking statements are identified by their use of terms and phrases such as ''believe'', ''could'', "should" ''envisage'', ''estimate'', ''intend'', ''may'', ''plan'', ''will'' or the negative of those, variations or comparable expressions, including references to assumptions. These forward looking statements are not based on historical facts but rather on the Directors' current expectations and assumptions regarding the Company's future growth, results of operations, performance, future capital and other expenditures (including the amount, nature and sources of funding thereof), competitive advantages, business
prospects and opportunities. Such forward looking statements reflect the Directors' current beliefs and assumptions and are based on information currently available to the Directors. A number of factors could cause actual results to differ materially from the results discussed in the forward looking statements including risks associated with vulnerability to general economic and business conditions, competition, environmental and other regulatory changes, actions by governmental authorities, the availability of capital markets, reliance on key personnel, uninsured and underinsured losses and other factors, many of which are beyond the control of the Company. Although any forward looking statements contained in this announcement are based upon what the Directors believe to be reasonable assumptions, the Company cannot assure investors that actual results will be consistent with such forward looking statements.
.
Neither the Toronto Stock Exchange, nor any other securities regulatory authority, has approved or disapproved of the contents of this news release.
SERABI GOLD PLC
2nd Floor, 30-32 Ludgate Hill, London EC4M 7DR This document is not intended to and does t +44 (0)20 7246 6830 f +44 (0)20 7246 6831 e [email protected] www.serabigold.com not amount to an invitation or inducement to Registered Office 66 Lincoln's Inn Fields, London, WC2A 3LH Company Number 5131528 subscribe for shares in Serabi Gold plc