Option Award and PCA Dealing

RNS Number : 6006U

Scotgold Resources Ltd

30 July 2020

 

Scotgold Resources Limited

30 July, 2020

Scotgold Resources Limited

Option Award and PCA Dealing

Scotgold Resources Limited (AIM: SGZ) ("Scotgold" or the "Company") announces that it has awarded Saint Consulting (UK) Limited 200,000 share options pursuant to services being provided for the construction activities required to complete the Cononish Gold and Silver Mine processing plant and other infrastructure ("Share Options"). 

The Share Options have an exercise price of 71p per depositary interest of no par value each  and vest upon successful completion of hot commissioning of the Cononish mine processing plant if achieved on or before 31 December 2020.  The Share Options shall lapse if unexercised by 31 December 2023.

Saint Consulting (UK) Limited is an entity controlled by Jason Saint, who is considered a person discharging managerial responsibility in the Company ("PDMR"), and, as such, constitutes a Person Closely Associated ("PCA") to Jason Saint for the purposes of the EU Market Abuse Regulation.

The Company currently has total issued capital of 51,351,733 ordinary shares and had 2,180,000 options in issue.  On conclusion of the transactions described here, the Company will have a total of 2,380,000 options in issue which, if all options were exercised, would result in a fully diluted capital of 53,731,733 ordinary shares.

 

1.	Details of the person discharging managerial responsibilities/person closely associated
(a)	Full name of person Dealing	Saint Consulting (UK) Limited
2.	Reason for notification
(a)	Position/status	PCA of Jason Saint, a PDMR
(b)	Initial notification/ Amendment	Initial notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
(a)	Name of entity	Scotgold Resources Limited
(b)	LEI	213800HL5A2K7LW2G360
4.	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
(a)	Description of the financial instrument, type of instrument	Share Options
(b)	Identification code	AU000XINEAK5
(c)	Nature of the transaction	Grant of Share Options
(d)	Price(s) and volume(s)	Prices(s) Volume(s) 71 pence 200,000
(e)	Aggregated information: - Aggregated volume - Price	N/A
(f)	Date of transaction	29 July 2020
(g)	Place of transaction	Outside a Trading Venue

Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.

For further information please contact:

Scotgold Resources Limited Richard Gray	Tel: [phone]
SP Angel Corporate Finance LLP Nomad and Broker Ewan Leggat / Charlie Bouverat	Tel [phone]

 

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