REG - Hamak Gold Limited - Issue of Shares

Hamak GoldAnnouncement

07/07/2022 12:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20220707:nRSG6906Ra&default-theme=true

RNS Number : 6906R  Hamak Gold Limited  07 July 2022

 

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR
INDIRECTLY IN OR INTO AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA,
THE UNITED STATES, ANY TERRITORY OR POSSESSION THEREOF OR ANY OTHER
JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS
OF SUCH JURISDICTION.

7 July 2022

Hamak Gold Limited

("Hamak Gold" or the "Company")

Issue of Shares in lieu of directors' fees and grant of Performance Rights

Hamak Gold Limited (LSE: HAMA) announces that it has issued new ordinary
shares to the following directors in respect of fees earned for the quarter
since admission to the London stock Exchange on 1 March 2022. The shares are
expected to be admitted for trading on 12(th) July 2022.

 Name              No. of Shares
 Amara Kamara      145,000
 Karl Smithson     125,000
 Julius Baiden     50,000
 Niall Young       50,000
 Walter McCarthy   50,000
 Martin Lampshire  45,472
 Total             465,472

 

The above fees are in line with the 2,520,000 Fee Shares arrangement that is
set out in the Company's Prospectus.

In addition, the Company has granted Performance Rights in accordance with its
Unapproved Share Performance Rights Plan to the following directors and to
senior management:

 Name               No. of Performance Rights
 Karl Smithson      511,163
 Julius Baiden      223,634
 Niall Young        223,634
 Walter McCarthy    223,634
 Martin Lampshire   223,634
 Senior management  724,148
 Total              2,129,847

 

Each Performance Right entitles the holder to acquire one ordinary share. The
Performance Rights vest in accordance with the following conditions as set out
in the Company's Prospectus:

·     50 per cent. (50%) of the Shares shall vest on the Company's first
drill intersection showing significant gold mineralisation (as determined by
the Senior Technical Consultant to the Board); and

·     the remaining 50 per cent. (50%) of the Shares shall vest on the
first date on which the price of the Shares is double that of the price at
which Shares are issued in the placing of Shares with certain institutional
and retail investors at time of the Listing.

 

For further information you are invited to view the company's website at
www.hamakgold.com or please contact:

 Hamak Gold Limited

 Amara Kamara                         +231 (0) 77 005 0005

 Karl Smithson                        +44 (0) 77 837 07971
 Peterhouse Capital Limited (Broker)  +44 (0) 20 7469 0930

 Lucy Williams

 Guy Miller

 Yellow Jersey PR                     +44 (0) 20 3004 9512

 Tom Randell                          +44 (0) 7775 194357

 Annabelle Wills

 

About Hamak Gold Limited

Hamak Gold Limited (LSE: HAMA) is a UK listed company focussed on gold
exploration of a portfolio of licences in highly prospective areas of Liberia
and its growth strategy considers other exploration and development
opportunities in the wider West Africa region.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  IOEFLFIIDEIDIIF