SOURCE: Serabi Gold plc

Serabi Gold plc

May 21, 2012 02:00 ET

Serabi Gold plc ("Serabi" or the "Company") Award of Share Options

LONDON--(Marketwire - May 21, 2012) - The Company announces that the board of directors of Serabi (the "Board") has agreed to award in aggregate 500,000 new options over ordinary shares to its Executive Directors (representing 0.55% of the current issued share capital of 91,268,529 ordinary shares). The options are exercisable at UK£0.10 which compares to the closing mid-market share price in London of 9.62 pence per ordinary share on 18 May 2012. The option awards are as follows:

Director Number of new options over
Ordinary Shares
Mike Hodgson 275,000
Clive Line 225,000

The options have been granted under the Serabi Mining 2011 Share Option Plan (the "2011 Plan") which the Company adopted on 28 January 2011. 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.

Copies of this release 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 news release.

Contact Information

  • Enquiries:

    Serabi Gold plc
    Michael Hodgson
    Chief Executive
    Tel: 020 7246 6830
    Mobile: 07799 473621

    Clive Line
    Finance Director
    Tel: 020 7246 6830
    Mobile: 07710 151692

    Email: contact@serabigold.com
    Website: www.serabigold.com

    Beaumont Cornish Limited
    Nominated Adviser
    Roland Cornish
    Tel: 020 7628 3396

    Michael Cornish
    Tel: 020 7628 3396

    Fox Davies Capital Limited
    UK Broker
    Simon Leathers
    Tel: 020 3463 5010

    Jonathan Evans
    Tel: 020 3463 5010