REG - Scotgold Resources - Grant of Options to PMDRs

Scotgold ResourcesAnnouncement

31/08/2022 16:00

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RNS Number : 8149X  Scotgold Resources Ltd  31 August 2022

 

31 August 2022

 

Scotgold Resources Limited

("Scotgold" or the "Company")

Grant of Options to PMDRs

Scotgold Resources Limited (AIM: SGZ) ("Scotgold" or the "Company") announces
that further to its announcement of 11 May 2021 and in line with Mr Phillip
Day's terms of employment, the Company has granted unlisted options over
400,000 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 31 August 2027 (the "Options").

The Options shall vest on 1 September 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
of the Company, and where restrictions apply, the similar "Unapproved Scheme"
of the Company.

The notification below, made in accordance with the requirements of the UK
Market Abuse Regulation, provides further detail.

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                                                   Phillip Day

 2.     Reason for notification
 (a)    Position/status                                                               Chief Executive Officer
 (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)
                                                                                      75 pence   400,000

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

        - Aggregated volume

        - Price
 (f)    Date of transaction                                                           31 Aug 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

31 Aug 2022

 

(g)

Place of transaction

Outside a Trading Venue

 

 

 

 Scotgold Resources Limited  Shore Capital             Celicourt Communications

 Chief Executive Officer     Nomad and Broker          Financial PR

 Philip Day                  Toby Gibbs / John More    Felicity Winkles/Josh Funnell

                             Tel +44 (0) 20 7408 4090  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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