18:23:01 EDT Thu 28 Mar 2024
Enter Symbol
or Name
USA
CA



Condor Gold PLC
Symbol COG
Shares Issued 95,163,522
Close 2020-06-02 C$ 0.65
Market Cap C$ 61,856,289
Recent Sedar Documents

Condor Gold grants options to buy 3.7 million shares

2020-06-02 13:47 ET - News Release

Mr. Mark Child reports

GRANT OF OPTIONS

Condor Gold PLC has granted 3.7 million share options, representing 3.2 per cent of the issued share capital, under the company's existing share options scheme.

The 2020 options were granted by the remuneration committee and approved by the board as part of the share option scheme, whereby options are granted annually as an incentive to directors, employees and consultants. The 2020 options were granted as shown in the table.

Mark Child, chairman and CEO                 1,000,000
Jim Mellon, non-executive director             300,000
Kate Harcourt, non-executive director          300,000
Andrew Cheatle, non-executive director         300,000
Ian Stalker, non-executive director            300,000
David Crawford, chief technical officer        300,000
Jeffrey Karoly, chief financial officer        300,000
Other employees and consultants                900,000

In August, 2018, the company established an enterprise management incentive scheme as a subplan within the framework and in accordance with the rules of the share option scheme. The EMI scheme is open only to employees of Condor Gold. Of the 2020 options, 300,000 were awarded through the EMI scheme.

The 2020 options have an exercise price of 42 pence per share, equivalent to the closing price on the Alternative Investment Market on May 29, 2020, and are exercisable for a period of five years from the grant date, with the restriction that no options can be exercised within 12 months of the grant date, only up to 50 per cent of the said options can be exercised in the following 12 months and thereafter, 100 per cent of the said options can be exercisable, provided that the grantee remains with the company.

Following the grant of the 2020 options outlined above, the total share options outstanding will represent 11.2 per cent of the 117,048,627 ordinary shares in issue.

About Condor Gold PLC

Condor Gold is a gold exploration and development company with a focus on Nicaragua.

We seek Safe Harbor.

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