🕐21.05.12 - 08:27 Uhr

SERABI GOLD PLC : AWARD OF SHARE OPTIONS



Serabi Gold plc
   

Published: 08:00 CEST 21-05-2012 /Thomson Reuters /Source: Serabi Gold plc /XLON: SRB /ISIN: GB00B4T0YL77

Serabi Gold plc : Award of Share Options

SERABI GOLD PLC

("Serabi" or the "Company")

 

AWARD OF SHARE OPTIONS

 

The Company announces that the board of directors of Serabi (the "Board") has agreed to award in aggregate 500,000 new options over ordinary shares to its Executive Directors (representing 0.55% of the current issued share capital of 91,268,529 ordinary shares).

The options are exercisable at 10 pence which compares to the closing mid-market share price in London of 9.62 pence per ordinary share on 18 May 2012.  The option awards are as follows:

 


Director

Number of new options over Ordinary Shares

Mike Hodgson

275,000

Clive Line

225,000

 

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. 

Enquiries:


Serabi Gold plc

 

Michael Hodgson

Tel: 020 7246 6830

Chief Executive

Mobile: 07799 473621

 

 

Clive Line

Tel: 020 7246 6830

Finance Director

Mobile: 07710 151692

 

 

Email:

 

Website:  www.serabigold.com

 

 

 

Beaumont Cornish Limited

Nominated Adviser

 

Roland Cornish

Tel: 020 7628 3396

Michael Cornish

Tel: 020 7628 3396

 

 

Fox Davies Capital Limited

UK Broker

 

Simon Leathers

Tel: 020 3463 5010

Jonathan Evans

Tel: 020 3463 5010

 

Copies of this release are available from the Companys 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.

 

ENDS





This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients.

Source: Serabi Gold plc, 66 Lincolns Inn Fields, London WC2A 3LH, UK
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