REG - Scotgold Resources - Grant of Options to PMDRs

Scotgold ResourcesAnnouncement

24/05/2022 16:30

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RNS Number : 6549M  Scotgold Resources Ltd  24 May 2022

 

24 May 2022

Scotgold Resources Limited

("Scotgold" or the "Company")

Grant of Options to PMDRs

Scotgold Resources Limited (AIM: SGZ) ("Scotgold" or the "Company") announces
that it has granted unlisted options over 800,000 depositary interests of no
par value each in the Company ("Ordinary Shares") with an exercise price of
75p per Ordinary Share and an expiry date of 23 May 2027 (the "Options") to
the following employees:

                                    Number of Options Granted
 Sean Duffy (CFO)                   400,000
 Louise Iommi (VP Human Resources)  200,000
 Kobus Byleveldt (Mining Manager)   200,000

 

The Options shall vest on 23 May 2025 subject to the above-mentioned
employees being an employee in good standing of the Company or any controlled
entity of the Company at that date.

The Options have been granted under the Enterprise Management Incentive scheme
(EMI Scheme) of the Company, and where restrictions apply, the similar
"Unapproved Scheme" of the Company.

Sean Duffy, Louise Lommi and Kobus Byleveldt are deemed to be Persons
discharging managerial responsibilities ("PDMR") under   Market Abuse
Regulation.

 

NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING
MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM

 1.     Details of the person discharging managerial responsibilities/person closely
        associated
 (a)    Full name of person Dealing                                                   1.    Sean Duffy

                                                                                      2.    Louise Iommi

                                                                                      3.    Kobus Byleveldt

 2.     Reason for notification
 (a)    Position/status                                                               1.    Chief Financial Officer

                                                                                      2.    VP Human Resources

                                                                                      3.    Mining Manager
 (b)    Initial notification/ Amendment                                               Initial notification
 3.     Details of the issuer, emission allowance market participant, auction
        platform, auctioneer or auction monitor
 (a)    Name of entity                                                                Scotgold Resources Limited
 (b)    LEI                                                                           213800HL5A2K7LW2G360
 4.     Details of the transaction(s): section to be repeated for (i) each type of
        instrument; (ii) each type of transaction; (iii) each date; and (iv) each
        place where transactions have been conducted
 (a)    Description of the financial instrument, type of instrument                   Options over Ordinary Shares of no par value each in the Company
 (b)    Identification code                                                           AU000XINEAK5
 (c)    Nature of the transaction                                                     Grant of Options
 (d)    Price(s) and volume(s)                                                        Prices(s)          Volume(s)
                                                                                      1.    75 pence     400,000
                                                                                      2.    75 pence     200,000
                                                                                      3.    75 pence     200,000

 
 (e)    Aggregated information:                                                       Single transaction as in 4(d) above

        - Aggregated volume

        - Price
 (f)    Date of transaction                                                           23 May 2022

 (g)    Place of transaction                                                          Outside a Trading Venue

 

(e)

Aggregated information:

- Aggregated volume

- Price

Single transaction as in 4(d) above

(f)

Date of transaction

23 May 2022

 

(g)

Place of transaction

Outside a Trading Venue

 

 

This announcement contains inside information for the purposes of Article 7 of
the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law
by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is
disclosed in accordance with the Company's obligations under Article 17 of
MAR.

 Scotgold Resources Limited  SP Angel Corporate Finance LLP   Celicourt Communications

 Chief Executive Officer     Nomad and Broker                 Financial PR

 Philip Day                  Ewan Leggat / Charlie Bouverat   Felicity Winkles/Josh Funnell

                             Tel +44 (0) 20 3470 0470         Tel +44 (0) 208 434 2643

                                                              Tel +44 (0) 774 8843 871

 

 

Notes

 

Scotgold Resources Ltd (AIM:SGZ), is Scotland's first commercial gold
producer. The Company poured first gold in November 2020 at its Cononish Gold
and Silver Mine ('Cononish) in Tyndrum, Scotland and is developing it into a
+23,500-ounce gold mine per annum by end of Q1 2023. Cononish is a high-grade
underground mining operation with a central processing plant producing gold
concentrate for off-take and gold doré for the Scottish Jewellery industry.
Once in full production, the mine has anticipated forecast operating costs of
c.£544/oz AISC, which will place Cononish in the lowest quartile of gold
mining operations globally.

 

It is Scotgold's vision to build a mid-tier gold mining company in Scotland
with multiple operations in the country that enhance the local environment and
economy in ways that have an enduring positive impact.

 

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