REG-Serabi Gold plc: Award of Share Options <Origin Href="QuoteRef">SRB.L</Origin>

Serabi GoldAnnouncement

17/05/2016 07:05

For immediate release 
              17 May 2016 
 
 Serabi Gold plc 
 ("Serabi" or the "Company") 
 Award of Share Options 
 
 The Company announces that on 16 May 2016 the board of directors of Serabi
agreed to award in aggregate 15,650,000 new options over ordinary shares to
employees, directors and officers of the Company. The option grant is part of
the Company's annual compensation review and the issuance is made under the
Serabi 2011 Share Option Plan (the "2011 Plan") which the Company adopted on
28 January 2011 and was re-affirmed by shareholders at the Company's last AGM
held on 24 June 2014.  The 2011 Plan allows the Company to issue a number of
options up to an aggregate of 10% of its issued and outstanding common shares.

 
 The options granted will vest in three equal tranches, with one-third vesting
and being exercisable immediately on award, one-third vesting on the first
anniversary of the award and the remainder vesting on the second anniversary
of the award and the options will lapse three years after the date of the
award. 
 
 The options have an exercise price of 5.0 pence per share. The pricing of the
options represents a 7.31% premium to the London 10 day weighted average price
and a 10.70% premium to the 20 day weighted average price, both as of 16 May
2016.  The London closing price as at 16 May 2016 was 4.875 pence.  The
award represents 2.38% of the current issued share capital of 656,389,204
ordinary shares. 
 
  Options granted to directors of the Company are as follows: 
 
  Director            Number of new options over Ordinary Shares   
  Mike Hodgson                         4,000,000                   
  Clive Line                           3,000,000                   
  T Sean Harvey                        1,600,000                   
  Melvyn Williams                      1,300,000                   
  Aquiles Alegria                      1,000,000                   
  Nicolas Banados                      1,000,000                   
  Eduardo Rosselot                     1,000,000                   
  Felipe Swett                         1,000,000                   
                                     13,900,000                   
 
 Enquiries: 
 
  Serabi Gold plc                                                                                 
  Michael Hodgson                                                     Tel: +44 (0)20 7246 6830     
  Chief Executive                                                     Mobile: +44 (0)7799 473621   
                                                                                                 
  Clive Line                                                          Tel: +44 (0)20 7246 6830     
  Finance Director                                                    Mobile: +44 (0)7710 151692   
                                                                                                 
  Email: contact@serabigold.com                                                                   
  Website:  www.serabigold.com                                                                   
                                                                                                 
  Beaumont Cornish Limited Nominated Adviser and Financial Adviser                                
  Roland Cornish                                                      Tel: +44 (0)20 7628 3396     
  Michael Cornish                                                     Tel: +44 (0)20 7628 3396     
                                                                                                 
  Peel Hunt LLP UK Broker                                                                         
  Matthew Armitt                                                      Tel: +44 (0)20 7418 9000     
  Ross Allister                                                       Tel: +44 (0)20 7418 9000     
                                                                                                 
  Blytheweigh Public Relations                                                                    
  Tim Blythe                                                          Tel: +44 (0)20 7138 3204     
  Camilla Horsfall                                                    Tel: +44 (0)20 7138 3224     
 
 Copies of this announcement are available from the Company's website at
www.serabigold.com . 
 
 Neither the Toronto Stock Exchange, nor any other securities regulatory
authority, has approved or disapproved of the contents of this announcement. 
 
 Qualified Persons Statement 
 The scientific and technical information contained within this announcement
has been reviewed and approved by Michael Hodgson, a Director of the Company.
Mr Hodgson is an Economic Geologist by training with over 26 years' experience
in the mining industry. He holds a BSc (Hons) Geology, University of London, a
MSc Mining Geology, University of Leicester and is a Fellow of the Institute
of Materials, Minerals and Mining and a Chartered Engineer of the Engineering
Council of UK, recognising him as both a Qualified Person for the purposes of
Canadian National Instrument 43-101 and by the AIM Guidance Note on Mining and
Oil & Gas Companies dated June 2009. 
 
 Forward Looking Statements 
 Certain statements in this announcement are, or may be deemed to be, forward
looking statements. Forward looking statements are identified by their use of
terms and phrases such as ''believe'', ''could'', "should" ''envisage'',
''estimate'', ''intend'', ''may'', ''plan'', ''will'' or the negative of
those, variations or comparable expressions, including references to
assumptions. These forward looking statements are not based on historical
facts but rather on the Directors' current expectations and assumptions
regarding the Company's future growth, results of operations, performance,
future capital and other expenditures (including the amount, nature and
sources of funding thereof), competitive advantages, business prospects and
opportunities. Such forward looking statements reflect the Directors' current
beliefs and assumptions and are based on information currently available to
the Directors. A number of factors could cause actual results to differ
materially from the results discussed in the forward looking statements
including risks associated with vulnerability to general economic and business
conditions, competition, environmental and other regulatory changes, actions
by governmental authorities, the availability of capital markets, reliance on
key personnel, uninsured and underinsured losses and other factors, many of
which are beyond the control of the Company. Although any forward looking
statements contained in this announcement are based upon what the Directors
believe to be reasonable assumptions, the Company cannot assure investors that
actual results will be consistent with such forward looking statements. 
 
 ENDS 
 

 This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf
of NASDAQ OMX Corporate Solutions clients. 
 The issuer of this announcement warrants that they are solely responsible for
the content, accuracy and originality of the information contained therein. 
 Source: Serabi Gold plc via Globenewswire 
 HUG#2012999