Serabi Gold plc - Award of Share-Options
![Serabi Gold plc - Award of Share-Options](https://www.minenportal.de/media/goldseiten-news.jpg)
Director Number of new options over Ordinary Shares
Mike Hodgson 4,200,000
Clive Line 3,700,000
T Sean Harvey 1,900,000
Eduardo Rosselot 1,900,000
Dr. Doug Jones 950,000
Melvyn Williams 950,000
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13,600,000
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The grant of options has been undertaken as part of the Company's annual review and further reflects, following the successful share placement announced on 17 January 2013, the transition of the company from a gold exploration business to that of a mine developer with first gold production scheduled to commence before the end of the current year.
The options have been granted under the Serabi Mining 2011 Share Option Plan (the "2011 Plan") which the Company adopted on 28 January 2011. 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 granted to Dr. Jones will all vest immediately in recognition of the higher exercise price that has been assigned to these options but are otherwise issued on the same terms and conditions.
The Board has made further option awards to other employees of the Company representing a further 1,150,000 new options over ordinary shares with an exercise price of 6.1 pence,, under the 2011 Plan and on the same terms and conditions applying to the Directors (except Dr. Jones)
Copies of this release 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 news release.
Enquiries:
Serabi Gold plc
Michael Hodgson, Chief Executive
Tel: +44 (0)20 7246 6830
Mobile: +44 (0)7799 473621
Clive Line, Finance Director
Tel: +44 (0)20 7246 6830
Mobile: +44 (0)7710 151692
contact@serabigold.com
www.serabigold.com
Beaumont Cornish Limited
Nominated Adviser
Roland Cornish, Tel: +44 (0)20 7628 3396
Michael Cornish, Tel: +44 (0)20 7628 3396
Fox Davies Capital Ltd
UK Broker
Simon Leathers, Tel: +44 (0)20 3463 5010
Jonathan Evans, Tel: +44 (0)20 3463 5010
Blythe Weigh Communications Ltd
Public Relations
Tim Blythe, Tel: +44 (0)20 7138 3204
Rob Kellner, Tel: +44 (0)20 7138 3204