Serabi Gold plc Award Of Share Options

 
TIDMSRB 
 
   For immediate release 
 
   7 April 2017 
 
   Serabi Gold plc 
 
   ("Serabi" or the "Company") 
 
   Award of Share Options 
 
   The Company announces that on 7 April 2017 the board of directors of 
Serabi agreed to award in aggregate 15,650,000 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 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 5.00 pence per share. The pricing 
of the options represents a 5 per cent premium to the London closing 
price as at 6 April 2017 of 4.75 pence, a 1 per cent premium to the 
London 10 day weighted average price and a 2 per cent premium to the 20 
day weighted average price, both also as of 6 April 2017.  The award 
represents 2.24% of the current issued share capital of 698,701,772 
ordinary shares. 
 
   Options granted to directors of the Company are as follows: 
 
 
 
 
Director           Number of new options over Ordinary Shares 
Mike Hodgson                                        4,000,000 
Clive Line                                          3,000,000 
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 
                                                   13,900,000 
 
 
   The 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) 
 
   Name 
 
   1. Mike Hodgson 
 
   2. Clive Line 
 
   3. Terence Sean Harvey 
 
   4. Melvyn Williams 
 
   5. Aquiles Alegria 
 
   6. Nicolas Banados 
 
   7. Eduardo Rosselot 
 
   8. Felipe Swett 
 
   2 
 
   Reason for the notification 
 
   a) 
 
   Position/status 
 
   1. Chief Executive Officer 
 
   2. Finance Director 
 
   3. Non-Executive Director 
 
   4. Non-Executive Director 
 
   5. Non-Executive Director 
 
   6. Non-Executive Director 
 
   7. Non-Executive Director 
 
   8. Non-Executive Director 
 
   b) 
 
   Initial notification /Amendment 
 
   Initial Notification 
 
   3 
 
   Details of the issuer, emission allowance market participant, auction 
platform, auctioneer or auction monitor 
 
   a) 
 
   Name 
 
   Serabi Gold plc 
 
   b) 
 
   LEI 
 
   213800LTYC1HF9RTUE37 
 
   4 
 
   Details of the transaction(s): section to be repeated for (i) each type 
of instrument; (ii) each type of transaction; (iii) each date; and (iv) 
each place where transactions have been conducted 
 
   a) 
 
   Description of the financial instrument, type of instrument 
 
   Options over Ordinary Shares of 0.5p each ("Ordinary Shares") 
 
   Identification code 
 
   GB00B4T0YL77 
 
   b) 
 
   Nature of the transaction 
 
   Issue of Options over Ordinary Shares 
 
   c) 
 
   Price(s) and volume(s) 
 
 
 
 
Director           Price payable on exercise of option   Volume(s) 
Mike Hodgson                    GBP0.0500                4,000,000 
Clive Line                      GBP0.0500                3,000,000 
T Sean Harvey                   GBP0.0500                1,600,000 
Melvyn Williams                 GBP0.0500                1,300,000 
Aquiles Alegria                 GBP0.0500                1,000,000 
Nicolas Banados                 GBP0.0500                1,000,000 
Eduardo Rosselot                GBP0.0500                1,000,000 
Felipe Swett                    GBP0.0500                1,000,000 
 
 
   d) 
 
   Aggregated information 
 
   - Aggregated volume 
 
   13,900,000 options over Ordinary Shares 
 
   - Price 
 
   Price payable on exercise of option - UKGBP0.0500 
 
   1/3 exercisable immediately on award; 
 
   1/3 vesting on the first anniversary of the award; and 1/3 vesting on 
the second anniversary of the award 
 
   e) 
 
   Date of the transaction 
 
   7 April 2017 
 
   f) 
 
   Place of the transaction 
 
   Outside a trading venue 
 
   Enquiries: 
 
 
 
 
Serabi Gold plc 
Michael Hodgson                Tel: [phone] 
Chief Executive                Mobile: [phone] 
 
Clive Line                     Tel: [phone] 
Finance Director               Mobile: [phone] 
 
Email: [e-mail] 
Website: www.serabigold.com 
 
Beaumont Cornish Limited 
 Nominated Adviser and 
 Financial Adviser 
Roland Cornish                 Tel: [phone] 
Michael Cornish                Tel: [phone] 
 
Peel Hunt LLP 
 UK Broker 
Matthew Armitt                 Tel: [phone] 
Ross Allister                  Tel: [phone] 
 
Blytheweigh 
 Public Relations 
Tim Blythe                     Tel: [phone] 
Camilla Horsfall               Tel: [phone] 
 
 
   Copies of this announcement are available from the Company's website at 
www.serabigold.com. 
 
   Neither the Toronto Stock Exchange, nor any other securities regulatory 
authority, has approved or disapproved of the contents of this 
announcement. 
 
   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. 
 
   ENDS 
 
   This announcement is distributed by Nasdaq Corporate Solutions on behalf 
of Nasdaq Corporate Solutions clients. 
 
   The issuer of this announcement warrants that they are solely 
responsible for the content, accuracy and originality of the information 
contained therein. 
 
   Source: Serabi Gold plc via Globenewswire 
 
 
  http://www.serabigold.com 
 

(END) Dow Jones Newswires

April 07, 2017 06:15 ET (10:15 GMT)

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