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6 Jul 2015 07:00
Scotgold Resources Limited
Incentive Option Package for Chief Executive Officer
Scotgold announces that it has entered into two Incentive Option Agreements with Mr Richard Gray, Chief Executive Officer. The grant of the options is subject to shareholder and regulatory approval which will be sought at the earliest available opportunity.
The Incentive Option Agreements are structured as two tranches.
The first, Tranche A, is for 5 Million options to acquire ordinary shares at an exercise price of 0.6p, which will vest and become exercisable when the Company has successfully concluded the financing of the Cononish Gold and Silver Project.
The second, Tranche B, is for 33 Million options to acquire ordinary shares at an exercise price of 0.6p, which will vest and become exercisable when the Cononish Gold and Silver Project produces its first dore.
Each option is exercisable into one ordinary fully paid share in Scotgold. The agreements were entered into on 30th June 2015 and the options will lapse on 30 June 2025.
Scotgold Resources Limited Westhouse Securities Limited
Richard Gray
Chief Executive Officer Martin Davison
Tel: +44 (0)7905 884 021 Tel: +44 (0)20 7601 6100
Capital Markets Consultants Vicarage Capital Limited
Simon Rothschild Rupert Williams
Tel +44 (0)7703 167 065 Tel: +44 (0)20 3651 2911
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