REG - Caledonia Mining Crp - Issue of Long-Term Incentive Awards

Caledonia MiningAnnouncement

26/01/2022 07:05

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RNS Number : 6256Z  Caledonia Mining Corporation PLC  26 January 2022

Caledonia Mining Corporation Plc

(NYSE American: CMCL; AIM: CMCL; VFEX: CMCL)

Issue of Long-Term Incentive Awards

 

St Helier, January 26, 2022:  Caledonia Mining Corporation Plc (the "Company"
or "Caledonia") announces that it has made new long term incentive plan awards
under the Company's 2015 Omnibus Equity Incentive Compensation Plan (the
"Plan").  Awards that have been made to "Persons Discharging Managerial
Responsibility" within the meaning of the Market Abuse Regulation (EU) No.
596/2014 are as follows:

 Name            Position                              Grant values
 Steve Curtis    Director and Chief Executive Officer  US$476,486.10
 Mark Learmonth  Director and Chief Financial Officer  US$441,945.00
 Dana Roets      Director and Chief Operating Officer  US$200,340.40

The awards are in the form of Performance Units ("PUs") as defined in the
Plan. The vesting date for the PUs shall be January 11, 2025.

The number of PUs awarded is equal to the monetary value of the award divided
by the "Fair Market Value" (as defined in the Plan) of the Company's shares,
being, in this case, the greater of (i) the closing price of Caledonia's
shares on the NYSE American on the trading day preceding the date of the award
or (ii) the volume-weighted average closing price of Caledonia's shares on the
NYSE American for the five days preceding the date of the award, which
resulted in a price of US$12.01.

The final number of PUs which vest on maturity of the awards will be adjusted
to reflect the actual performance of the Company in terms of various operating
metrics, subject to certain minimum and maximum thresholds.

Each PU that vests entitles the participant to receive one Caledonia common
share (or a security representing a share) on the maturity of the award.
Shares that are issued pursuant to vesting PUs are subject to a minimum
holding period of one year in case vested awards become subject to forfeiture,
reduction or cancellation.

Enquiries

 Caledonia Mining Corporation Plc

 Mark Learmonth                      Tel: +44 1534 679 802

 Camilla Horsfall                    Tel: +44 7817 841793
 WH Ireland

 Adrian Hadden/ Andrew De Andrade    Tel: +44 20 7220 1751
 Blytheweigh Financial PR

 Tim Blythe/Megan Ray                Tel: +44 207 138 3204
 3PPB

 Patrick Chidley                     Tel: +1 917 991 7701

 Paul Durham                         Tel: +1 203 940 2538
 Curate Public Relations (Zimbabwe)

 Debra Tatenda                       Tel: +263 77802131

Note: The information contained within this announcement is deemed by the
Company to constitute inside information under the Market Abuse Regulation
(EU) No. 596/2014 ("MAR") as it forms part of UK domestic law by virtue of
the European Union (Withdrawal) Act 2018 and is disclosed in accordance with
the Company's obligations under Article 17 of MAR.

 

 

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