26th Feb 2008 12:55
Central African Gold PLC26 February 2008 Central African Gold Plc ('CAG' or the 'Company') Employee Share Option Scheme Central African Gold Plc, the AIM traded gold mining and exploration company,has announced that 3,549,000 share options have been granted to executiveDirectors and employees of CAG following the Board meeting of 15 January 2008approving the grant of options in principle, based on the closing mid marketprice on 14 January 2008, subject to consultation with a number of majorshareholders. The consultation process was completed on 22 February 2008 andaccordingly the options were formally granted on 25 February 2008. The number of options granted and the total number of options now held by suchemployees is as follows: Number of options granted Total number of options held following grantGreg Hunter 400,000 2,000,000Charles Prentice 1,000,000 1,000,000Other employees 2,149,000 9,220,000Total 3,549,000 12,220,000 Each option is convertible into one ordinary share of 0.5p each in the Company("Ordinary Share") at an exercise price of 27.75p per share, vesting over threeyears in equal tranches from the date of grant, with each tranche exercisablewithin five years of vesting. The Directors' interests in the existing issued share capital of the Company areas follows: Number of Ordinary % of existing Ordinary Shares SharesGreg Hunter 800,000 0.5%Charles Prentice - 0.0%Roy Pitchford 6,400,000 3.8%Total 7,200,000 4.3% **ENDS** Enquiries: Central African Gold PlcGreg Hunter/Nicole BroomeTel: +27 (0) 11 676 2500 Strand Partners LimitedSimon Raggett/Braden SaundersTel: +44 (0) 20 7409 3494 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Canal+