Issue of Shares

RNS Number : 6906R

Hamak Gold Limited

07 July 2022

 

 

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY IN OR INTO AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA, THE UNITED STATES, ANY TERRITORY OR POSSESSION THEREOF OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION.

7 July 2022

Hamak Gold Limited

("Hamak Gold" or the "Company")

Issue of Shares in lieu of directors' fees and grant of Performance Rights

Hamak Gold Limited (LSE: HAMA) announces that it has issued new ordinary shares to the following directors in respect of fees earned for the quarter since admission to the London stock Exchange on 1 March 2022. The shares are expected to be admitted for trading on 12^th July 2022.

Name	No. of Shares
Amara Kamara	145,000
Karl Smithson	125,000
Julius Baiden	50,000
Niall Young	50,000
Walter McCarthy	50,000
Martin Lampshire	45,472
Total	465,472

The above fees are in line with the 2,520,000 Fee Shares arrangement that is set out in the Company's Prospectus.

In addition, the Company has granted Performance Rights in accordance with its Unapproved Share Performance Rights Plan to the following directors and to senior management:

Name	No. of Performance Rights
Karl Smithson	511,163
Julius Baiden	223,634
Niall Young	223,634
Walter McCarthy	223,634
Martin Lampshire	223,634
Senior management	724,148
Total	2,129,847

Each Performance Right entitles the holder to acquire one ordinary share. The Performance Rights vest in accordance with the following conditions as set out in the Company's Prospectus:

· 50 per cent. (50%) of the Shares shall vest on the Company's first drill intersection showing significant gold mineralisation (as determined by the Senior Technical Consultant to the Board); and

· the remaining 50 per cent. (50%) of the Shares shall vest on the first date on which the price of the Shares is double that of the price at which Shares are issued in the placing of Shares with certain institutional and retail investors at time of the Listing.

For further information you are invited to view the company's website at www.hamakgold.com or please contact:

Hamak Gold Limited Amara Kamara Karl Smithson	[phone] [phone]
Peterhouse Capital Limited (Broker) Lucy Williams Guy Miller Yellow Jersey PR Tom Randell Annabelle Wills	[phone] [phone] + 44 (0) 7775 194357

About Hamak Gold Limited

Hamak Gold Limited (LSE: HAMA) is a UK listed company focussed on gold exploration of a portfolio of licences in highly prospective areas of Liberia and its growth strategy considers other exploration and development opportunities in the wider West Africa region.

 

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