Serabi Gold plc
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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
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Number of new options over Ordinary Shares
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Mike Hodgson
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275,000
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Clive Line
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225,000
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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
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Michael Hodgson
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Tel: 020 7246 6830
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Chief Executive
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Mobile: 07799 473621
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Clive Line
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Tel: 020 7246 6830
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Finance Director
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Mobile: 07710 151692
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Email:
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Website: www.serabigold.com
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Beaumont Cornish Limited
Nominated Adviser
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Roland Cornish
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Tel: 020 7628 3396
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Michael Cornish
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Tel: 020 7628 3396
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Fox Davies Capital Limited
UK Broker
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Simon Leathers
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Tel: 020 3463 5010
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Jonathan Evans
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Tel: 020 3463 5010
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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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