TORONTO, Jan. 10, 2013 /CNW/ - The Board of Directors of Patagonia Gold Plc (TSX: PAT, AIM: PGD) today announced approval to grant options over
14,500,000 ordinary shares of one pence each ("Options") to certain
Directors under the Company's share option arrangements, as follows:
|
Name
|
Existing options
|
New Issue
|
Total options
over ordinary
shares
|
|
Carlos Miguens
|
10,500,000
|
9,000,000
|
19,500,000
|
|
William Humphries
|
10,500,000
|
3,000,000
|
13,500,000
|
|
Sir John Craven
|
2,000,000
|
1,500,000
|
3,500,000
|
|
Gonzalo Tanoira
|
4,000,000
|
1,000,000
|
5,000,000
|
The Options are exercisable (in whole or in part) at any time up to the
tenth anniversary of the date of grant and are exercisable at a price
of 22.75 pence per ordinary share. The grant of the Options was
recommended by the Company's Remuneration Committee at a meeting held
on October 18, 2012. However they were unable to be granted until the
Company's share authorities were renewed at the general meeting of the
Company held on January 8, 2012. Vesting of the Options is subject to
performance criteria linked to the achievement of certain operational
targets by the Company.
About Patagonia Gold
Patagonia Gold Plc is an advanced mining exploration company that seeks
to grow shareholder value through the acquisition, exploration and
development of gold and silver projects in the southern Patagonia
region of Argentina. The Company is primarily focused on the
development of three projects: the flagship Cap-Oeste project, the
nearby COSE project and the Lomada heap leach project, which is
expected to begin generating free cash flow by 2013. Patagonia Gold,
indirectly through its subsidiaries or under option agreements, has
mineral rights to over 220 properties in several provinces of Argentina
and Chile, and is one of the largest landholders in the province of
Santa Cruz.
Patagonia Gold is listed on the Toronto Stock Exchange (TSX) under the
symbol PAT and has been listed on the AIM market of the London Stock
Exchange under the symbol PGD since 2003.
www.patagoniagold.com
SOURCE: Patagonia Gold plc
Contact Information
Bill Humphries / Nigel Everest
Patagonia Gold Plc
Tel: +44 (0)20 7409 7444
Philip Yee, CFO
Patagonia Gold Plc
Tel: +1 (416) 572 2007
Colin Languedoc
Barnes Communications Inc.
Tel: +1 (416) 367-5000
Angela Hallett / James Spinney
Strand Hanson Limited
Tel: +44 (0)20 7409 3494
Rory Scott
Mirabaud Securities LLP
Tel: +44 (0)20 7878 3360
David Bick / Mark Longson
Square 1 Consulting
+44 (0)20 7929 5599