RNS Number : 9244L
Patagonia Gold PLC
20 January 2009
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
This information is provided by RNS
The company news service from the London Stock Exchange
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