Serabi Gold plc

Director / PDMR Shareholding

Director / PDMR Shareholding

For immediate release

8 Decem ber 2021

Serabi Gold Plc

(“Serabi” or the “Company”)

Director / PDMR Shareholding

Serabi announces that on 7 December 2021 the Board of Directors agreed to award in aggregate 864,500 Conditional Share Awards to employees (including directors) of the Company. The awards are part of the Company's normal annual compensation review and the issuance is made under the Serabi 2020 Restricted Share Plan (the “2020 Plan”) which was approved by shareholders on 16 June 2020 and adopted by the Board on 10 November 2020. Details of the 2020 Plan were set out in the Notice of Annual General Meeting dated 15 May 2020, and which is available from the Company’s website.  

While the intention of the Board is that awards under the 2020 Plan should be made annually, as a result of the exceptional circumstances in 2020, no awards under the 2020 Plan were made during 2020 following its approval by shareholders. The Board is therefore combining in this award the annual awards for 2020 and the annual awards for 2021.

The awards are subject to a three-year performance period during which time certain performance criteria stipulated by the Board must be attained. The performance criteria and minimum thresholds to be achieved can be summarised as follows:

A total of 622,900 Conditional Share Awards have been granted by the Board, as recommended by the Remuneration Committee, to directors of the Company as follows:

Director Award Year Percentage of Salary Number of Conditional Shares awarded
Michael Hodgson 2020 50% 162,500
  2021 50% 193,000
Clive Line 2020 50% 128,600
  2021 50% 138,000

The remaining 241,600 Conditional Share Awards have been made to other employees of the Company.   In all cases, the number of Conditional Shares awarded was calculated by reference to the 20 day VWAP average of the Company's shares on the date of grant. The underlying shares to be issued pursuant to each of the Conditional Share Awards will only be issued at the time of vesting and only in such amount (if any) as is required based on the achievement of the performance criteria.

Enquiries:

Serabi Gold plc  
Michael Hodgson Tel: +44 (0)20 7246 6830
Chief Executive Mobile: +44 (0)7799 473621
   
Clive Line Tel: +44 (0)20 7246 6830
Finance Director Mobile: +44 (0)7710 151692
   
Email: [email protected]  
Website: www.serabigold.com  
   
Beaumont Cornish Limited
Nominated Adviser and Financial Adviser
 
Roland Cornish / Michael Cornish Tel: +44 (0)20 7628 3396
   
Peel Hunt LLP
Joint UK Broker
 
Ross Allister / Alexander Allen Tel: +44 (0)20 7418 9000
   
Tamesis Partners LLP
Joint UK Broker
 
Charlie Bendon / Richard Greenfield Tel: +44 (0)20 3882 2868
   
Camarco        
Financial PR
 
Gordon Poole / Emily Hall Tel: +44(0) 20 3757 4980

Copies of this announcement are available from the Company's website at www.serabigold.com.

Neither the Toronto Stock Exchange, nor any other securities regulatory authority, has approved or disapproved of the contents of this announcement.

The notification below, made in accordance with the requirements of the EU Market Abuse Regulations, provides further detail in respect of the transaction as described above.

1
D et ails of t h e p er son d is c h a r gi n g m a n ag er ial re s p o n si b i li t i e s / p er son c los e ly asso c ia te d

a)
Name
1. Mike Hodgson

2. Clive Line

2
Reason for notification

a)
Position / status
1. Chief Executive Officer

2. Finance Director

b)
Initial notification
/Amendment

Initial
3
Detailsoftheissuer, emissionallowancemarketparticipant,auctionplatform, auctioneerorauctionmonitor

a)
Name
Serabi Gold plc

b)
LEI
213800LTYC1HF9RTUE37

4
D et ails of t h e t r a n sa ct i o n ( s ) : s ect ion t o b e re p e a te d f or ( i ) e a c h t y p e of i n s tr u m e n t ; ( ii) e a c h t y p e of tr a n sa c t io n ; ( iii) e a c h d a te ; a n d ( i v) e a c h p la c e w h er e tr a n sa ct io n s h ave b ee n c o ndu cted

a)
Description of the financial instrument, type of instrument
Identification code
Conditional Share Awards over Ordinary Shares of 10p each in Serabi Gold plc (“Ordinary Shares”)

ISIN GB00BG5NDX91

Nature of the transaction

Nil-cost Conditional Share Awards pursuant to the Company’s 2020 Restricted Share Plan

Price(s) and volumes(s)
Conditional Awards over Ordinary Shares granted:

Director Price(s) Volumes(s)
Mike Hodgson nil 355,500
Clive Line nil/a 267,400
     

d)
Aggregated information
Conditional Awards over Ordinary Shares granted:

Director Price(s) Volumes(s)
Mike Hodgson nil 355,500
Clive Line nil 267,400

e)
Date of the transaction
7 December 2021

f)
Place of the transaction
Outside a trading venue

ENDS

Attachment