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19 Aug 2010 07:00
19 August 2010
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 2007/019223/10)
ISIN: GG00B24HM601
Share code on LSE: CRND
Share code on JSE: CRD
(`CRG` or `the Company`)
Announcement of Share options granted to Directors and Persons Discharging Managerial Responsibility pursuant to Disclosure Rule 3.1.4.
CRG announces that the Board of Directors of the Company has approved the grant of options over 3,300,000 ordinary shares of 1p each in the Company ("Shares") to the Chief Executive Officer, Johan du Toit and 1,200,000 Shares to the Chief Financial Officer, Patrick Malaza. These grants mean that Mr du Toit has 6,600,000 Shares under option and Mr. Malaza has 1,650,000 Shares under option.
In addition to their respective options, Mr. du Toit currently holds 350,000 Shares, representing 0.02% per cent. of the Company's issued share capital and Mr. Malaza holds 35,000 Shares, representing 0.002% per cent. of the Company's issued share capital.
Furthermore the Board of Directors has approved the grant of options over a further 5,300,000 Shares to persons discharging managerial responsibility as follows:
|
Name |
Number of existing options |
Number of new options |
Total options held |
Number of Shares held |
% of Issued Share Capital held |
|
Gayton McKenzie |
1,900,000 |
1,000,000 |
2,900,000 |
250,000 |
0.016% |
|
Kenneth Kunene |
1,266,667 |
1,000,000 |
2,266,667 |
50,000 |
0.003% |
|
Mpho Litha |
450,000 |
1,000,000 |
1,450,000 |
- |
- |
|
Riccardo Tonini |
450,000 |
1,000,000 |
1,450,000 |
- |
- |
|
Clive Neuwerth |
150,000 |
300,000 |
450,000 |
30,000 |
0.002% |
|
Keith Matier |
- |
1,000,000 |
1,000,000 |
- |
- |
All of the options set out above will vest in three equal tranches with the first tranche vesting on 06 July 2011, the second tranche on 06 July 2012 and the final tranche on 06 July 2013.
The first tranche has an exercise price of GBP0.04; the second tranche an exercise price of GBP0.06 and the third tranche an exercise price of GBP0.08. Other than the exercise price which will become payable upon exercise of the options, no further consideration has, nor will become payable by the respective grantees.
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.
Issued on behalf of: Central Rand Gold Limited
19 August 2010
For further information, please contact
Central Rand Gold
Johan du Toit / Patrick Malaza +27 (0) 11 674 2304
Evolution Securities Limited +44 (0) 20 7071 4300
Simon Edwards / Chris Sim / Neil Elliot
Macquarie First South Advisers (Pty) Limited +27 (0) 11 583 2000
Annerie Britz / Melanie de Nysschen
Buchanan Communications +44 (0) 20 7466 5000
Bobby Morse / Katharine Sutton
Jenni Newman Public Relations (Pty) Limited +27 (0) 11 506 7300
Jenni Newman
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