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7 Dec 2011 07:00
Central Rand Gold Limited (Incorporated as a company with limited liability under the laws of Guernsey, Company Number 45108) (Incorporated as an external company with limited liability under the laws of South Africa, Registration number 2007/0192231/10) ISIN: GG00B24HM601 LSE share code: CRND JSE share code: CRD ("Central Rand Gold" or the "Company")
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OPTIONS GRANTED TO EXECUTIVES
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Share options granted to Executive Directors and Executive Committee Members
Central Rand Gold announces that on Tuesday, 6 December 2011, the board of directors of the Company approved the grant of the following options over ordinary shares in the Company ("Options"):
- Johan du Toit (Chief Executive Officer): 18,000,000 Options;
- Patrick Malaza (Chief Financial Officer): 11,400,000 Options; and
- 30,000,000 Options to certain members of the Company's Executive Committee.
The Options will vest in three equal tranches, with the first tranche vesting on 8 November 2012, the second tranche a year thereafter and the final tranche vesting on 8 November 2014.
The first tranche has an exercise price of £0.01; the second tranche an exercise price of £0.015 and the third tranche an exercise price of £0.0225. Each of the three tranches will remain exercisable for a period of three years after vesting and will be capable of being exercised in part or in full at any time after vesting and during the exercise period. No consideration has been paid for the Options.
Following the above grant of Options, the following directors have beneficial interests in the share capital of the Company as shown below:
Director | Number of Ordinary Shares held | % of issued share capital | Number of Options held |
Johan du Toit | 350,000 | 0.022% | 24,600,000 |
Patrick Malaza | 35,000 | 0.002% | 12,300,000 |
For further information, please contact:
Central Rand Gold +27 (0) 11 674 2304
Johan du Toit / Patrick Malaza
Evolution Securities Limited +44 (0) 20 7071 4300
Chris Sim / Neil Elliot
Merchantec Capital +27 (0) 11 325 6363
Roger Pitt / Monique Martinez
Buchanan +44 (0) 20 7466 5000
Bobby Morse / James Strong
Jenni Newman Public Relations (Proprietary) Limited +27 (0) 11 506 7351
Jenni Newman
7 December 2011
Johannesburg
JSE Sponsor
Merchantec Capital
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