10 Jan 2013 07:00
Patagonia Gold PLC
("Patagonia Gold" or "the Company")
Grant of Options
On 9 January 2013, the Board agreed to grant options over 14,500,000 ordinary shares of 1p each ("Options") to certain Directors under the Company's share option arrangements as follows.
Name | Existing options | New Issue | Total options over ordinary shares |
Carlos Miguens | 10,500,000 | 9,000,000 | 19,500,000 |
William Humphries | 10,500,000 | 3,000,000 | 13,500,000 |
Sir John Craven | 2,000,000 | 1,500,000 | 3,500,000 |
Gonzalo Tanoira | 4,000,000 | 1,000,000 | 5,000,000 |
The Options are exercisable (in whole or in part) at any time up to the tenth anniversary of the date of grant and are exercisable at a price of 22.75p per ordinary share. The grant of the Options was recommended by the Company's Remuneration Committee at a meeting held on 18th October 2012, however they were unable to be granted until the Company's share authorities were renewed at the general meeting of the Company held on 8 January 2012. Vesting of the Options is subject to performance criteria linked to the achievement of certain operational targets by the Company.
Enquiries:
Bill Humphries/Nigel Everest | Philip Yee, CFO |
Patagonia Gold Plc | Patagonia Gold Plc |
Tel: +44 (0) 20 7409 7444 | Tel: +1 (416) 572 2007 |
Rory Scott | David Bick/Mark Longson |
Mirabaud Securities LLP | Square 1 Consulting |
Tel: +44 (0) 20 7878 3360 | Tel:+44 (0) 20 7929 5599 |
Angela Hallett/James Spinney | Colin Languedoc |
Strand Hanson Limited | Barnes Communications Inc. |
Tel: +44 (0) 20 7409 3494 | Tel: +1 (416) 367 5000 |