Serabi Gold Share Discussion Threads

[backinblack80] 14/9/2020 22:49

tiger, I reckon you don't know what you're talking about. You are the guy who was stating bad news on a Friday..Being a massive pessimist is fine but you seem to be very lacking on how you communicate your views, particularly as you are so frequently wrong.

[borisjohnsonshair] 14/9/2020 21:51

You aren't an insider, just staff.

[borisjohnsonshair] 14/9/2020 21:50

You are a pleb, not a Director.

[tightfist] 14/9/2020 20:59

Hi Tiger, each to their own. Share options at my ex-employer were generally held for the long term - and there was a escalating and demanding qualifying level before a fresh award was made each year. I had retired 5 years before I finally sold out - I know others took it out towards the 10 year limit..Now no longer an "insider" we will never know what happens in this instance..There are special relaxed CG rules for employee share schemes, cannot remember how/if this impacts on straight options.. Cheers, tightfist

[kennyp52] 14/9/2020 20:02

If the U.K. government reverts to higher tax rates for CGT then there could be a lot more share options exercise before the end of the tax year !

[tiger60] 14/9/2020 19:03

You don’t know what you are talking about. My share options plus many employees are just a bonus- take the difference. Doubt his holding.

[borisjohnsonshair] 14/9/2020 18:42

Insider deals anyway, so we'll find out anyway.....having said that, he won't be now. He'll sell depending on his personal circumstances and opinion on SRBs potential.

[tiger60] 14/9/2020 18:27

Most employee share option schemes result in selling at the same time. Just collecting the difference between exercise price and option price.

[sherry35] 14/9/2020 18:04

TF & BJH - I view this as a vote of confidence vote in the company. The ex-director has put some skin in the game. I was just curious about the expiration of the remaining options.

[borisjohnsonshair] 14/9/2020 16:53

agreed, particularly if vested.....as can't be flipped. He's getting 110.5p stock that's worth 600p, for 75p. Good for him!!

[tightfist] 14/9/2020 16:46

Hi Sherry,.From the 2019 AR text, P66: ".....Options vest in three annual equal instalments with the initial vesting on the date of the award. Any option which is unexercised after a period of three years from the date of grant expires. Options are also forfeited if a holder leaves the Group before the options vest or are exercised although the Committee may exercise discretionary powers in certain circumstances...."..1/3 of these options had already vested. Conventionally the remainder of the options were to expire on 1st July 2021 - in this circumstance were discretionary powers exercised?.I am more interested in the vote of confidence. Cheers, tightfist

[borisjohnsonshair] 14/9/2020 16:43

No brainer to exercise. Let's see if he sells.

[borisjohnsonshair] 14/9/2020 16:41

I totally agree

[sherry35] 14/9/2020 16:31

tightfist - isn't there a "use it or loose it" clause on director stock options once the person steps down as a director? For example, a resigned director has 3 months to exercise his options before loosing them forever.

[sherry35] 14/9/2020 16:27

Serabi Gold issues 125,000 shares to former director
2020-09-14 08:32 ET - News Release
Mr. Michael Hodgson reports

EXERCISE OF SHARE OPTIONS AND TOTAL VOTING RIGHTS

Serabi Gold PLC has issued 125,000 new ordinary shares following an exercise of options by a former director at an exercise price of 75 pence per new ordinary share. The new ordinary shares will rank pari passu with the existing ordinary shares in issue. Application is being made for the new ordinary shares to be admitted to trading on the Alternative Investment Market on or around Sept. 18, 2020, and they will also be listed on the Toronto Stock Exchange. The proceeds of the exercise amounted to 93,750 pounds sterling.

Total voting rights

Following admission, the company's issued share capital will consist of 59,084,551 ordinary shares with voting rights. The company does not hold any ordinary shares in treasury. Therefore, the total number of ordinary shares in the company with voting rights is 59,084,551.

...

[tightfist] 14/9/2020 16:22

Looking back, the £0.75 options seem to have appeared in the 2019 AR and the only ex-director who was awarded over 100k (125k to be precise) was Melvyn Williams, who stood down as chairman in June 2020..IMO good to see £94k of his own money going in and increasing his SRB shareholding 8-fold on the face if it, NIAI. Cheers, tightfist

[tiger60] 14/9/2020 15:33

That doesn't make sense

[borisjohnsonshair] 14/9/2020 15:28

Ex-Director clearly still connected. Converting before license news out!!! Happy Tuesday.

[trader536] 14/9/2020 15:16

Mine closure RNS out soon

[tiger60] 14/9/2020 15:15

RNS out but nothing exciting!

[ppvn] 14/9/2020 13:38

I'm in the same position with EUA. but have learnt some painful lessons on AIM tiddlers with no cashflow. Much happier being here and when our market cap matches GGP with their negative cashflow I'll be happy - as long as its our market cap reaching £850mm and not GGP crashing to £65mm like ours!