Incentive Option Package for ChiefExecutiveOfficer

RNS Number : 2048S

Scotgold Resources Ltd

06 July 2015

 

Scotgold Resources Limited

Incentive Option Package for Chief Executive Officer

Scotgold announces that it has entered into two Incentive Option Agreements with Mr Richard Gray, Chief Executive Officer.  The grant of the options is subject to shareholder and regulatory approval which will be sought at the earliest available opportunity.

The Incentive Option Agreements are structured as two tranches.

The first, Tranche A, is for 5 Million options to acquire ordinary shares at an exercise price of 0.6p, which will vest and become exercisable when the Company has successfully concluded the financing of the Cononish Gold and Silver Project.

The second, Tranche B, is for 33 Million options to acquire ordinary shares at an exercise price of 0.6p, which will vest and become exercisable when the Cononish Gold and Silver Project produces its first dore.

Each option is exercisable into one ordinary fully paid share in Scotgold. The agreements were entered into on 30^th June 2015 and the options will lapse on 30 June 2025.

Scotgold Resources Limited             Westhouse Securities Limited

Richard Gray

Chief Executive Officer                           Martin Davison

Tel: [phone]                      Tel: [phone]

Capital Markets Consultants             Vicarage Capital Limited

Simon Rothschild                                   Rupert Williams

Tel [phone]                       Tel: [phone]

 

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