20th Jan 2009 10:07
Patagonia Gold PLC
("Patagonia Gold" or "the Company")
Re-pricing of Options
On 19 January 2009 the Board of Directors agreed, following a recommendation from the Company's remuneration committee and subject to subsequent approval by shareholders at the Company's next Annual General Meeting, to re-price certain outstanding share options that have been issued to employees who remain within the group in order to incentivise those individuals and to reflect a more realistic price level given the current market in the Company's shares. A total of 16,787,000 share options will be re-priced to 8p, being a 10 per cent. premium to the mid market price at close of business on 19 January 2009
Included are the following grants of options to Directors:
|
Director |
Share Options Re-priced |
New Exercise Price |
Original Exercise Price(s) |
|
Sir John Craven |
1,500,000 |
8p |
13.75p |
|
Carlos Miguens |
1,500,000 |
8p |
15.75p |
|
William Humphries |
3,500,000 |
8p |
13.50 to 15.75p |
|
Gonzalo Tanoira |
1,281,000 |
8p |
15.75p |
|
Richard Prickett |
3,406,000 |
8p |
13.50 to 15.75p |
|
Marc Sale |
3,400,000 |
8p |
9.875 to 15.75p |
Enquiries:
Bill Humphries/Richard Prickett
Patagonia Gold Plc
Tel: +44(0)20 7409 7444
Simon Raggett / Angela Peace
Strand Partners Limited
Tel: +44(0)20 7409 3494
Related Shares:
Patagonia Gold