Print   

IncaGold plc (the 'Company')

Appointment of Director

On 3 November 2009, the Company announced that shareholders had approved proposals to allow the Company to consider opportunities within cosmetic surgery insurance. 

The Board is pleased to announce that it has made application to the FSA to become an authorised insurance broker and such application is progressing satisfactorily. The Board is also pleased to announce the appointment of Michael Evans to the Board with immediate effect. 

Michael Evans has extensive experience in the insurance industry spanning over 35 years. He commenced his career with the United Friendly Assurance Society and subsequently went on to establish, develop and sell three insurance businesses. The Board believes that Michael's considerable insurance experience will be valuable as the Company develops its cosmetic surgery insurance product.

The Company has granted Michael Evans options over 9,000,000 ordinary shares at an exercise price of 0.3p per share, which is at a premium to the mid market price as at the close of business on 9 April 2009, which was 0.275p. The options will vest in three tranches as follows:

• 3,000,000 options will vest on the first anniversary of his appointment;

• 3,000,000 options will vest on the second anniversary of his appointment; and

• 3,000,000 options will vest on the third anniversary of his appointment.

After vesting, the options will be exercisable at any time until 1 April 2014. If all the options were exercised Michael Evans would be interested in approximately 2.33 per cent. of the enlarged issued share capital, assuming no other shares were issued by the Company. 

Michael Richard Evans, aged 63, has held the following directorships within the last five years:

Current:         nil

Past:               All Accidents Limited

                         Legal and Insurance Services On Line Limited

Michael was a director of the following companies at the time of the following events:

MACC Limited - voluntary creditors liquidation - entered into on 18 April 2002

Motor Claims Advisory Centre Limited - compulsory liquidation - entered into on 27 April 2000

Welton Motors Limited - compulsory liquidation - entered into on 3 April 2000

There are no further disclosures to be made in accordance with schedule 2 (g) of the AIM Rules. 

Contact:

IncaGold plc   

Justin Martin, Director  

Tel: +44(0)1624 820040   

 Website: www.incagoldplc.com

   

Zeus Capital Limited
Ross Andrews

Tom Rowley   

Tel:   +44(0)161 8311512   

Website:  www.zeuscapital.co.uk

ENDBOAILMATMMJMBIL