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MELBOURNE, May 17, 2018 /CNW/ - OceanaGold Corporation
(TSX/ASX: OGC) (the "Company") today announced that in order
to continue to align the Company with leading governance practices,
it proposes to present an amended Performance Rights Plan to reduce
the maximum number of securities to be issued or reserved for
issuance under its Performance Rights Plan from 5% of the issued
and outstanding Common Shares of the Company to 3.3%. The
shareholders' resolution to approve the amendment to the
Performance Rights Plan will be presented from the floor at the
upcoming shareholders' meeting to be held on June 1, 2018.
Reference is made to the Notice of Meeting and Management
Information Circular in respect of the Annual General and Special
Meeting of Shareholders dated April 26,
2018 ("Circular"). All undefined capitalised terms
have the meaning given to it in the Circular unless the context
requires otherwise. The amendments to the Circular are as
follows:
Section A (iv) – Resolution 3: Re-approval of Performance
Rights Plan
The amendment to the Plan involves reducing the maximum number
of Common Shares to be issued or reserved for issuance on
redemption of Performance Rights issued under the Plan from 5% of
the issued and outstanding Common Shares of the Company to
3.3%. The Performance Rights Plan is the only active equity
compensation plan for employees of the Company. There are no other
changes to the Performance Rights Plan otherwise.
As of the date of this media release, an aggregate of
617,464,893 Common Shares of the Company were issued and
outstanding. A total of 649,503 options remained outstanding
under the Option Plan, 7,795,095 performance rights remained
outstanding under the Performance Rights Plan, NIL options remained
outstanding under the Pacific Rim Incentive Stock Option Plan, and
1,016,098 options remained outstanding under the Romarco
Replacement Stock Option Plan. Together, they represent
approximately 1.58 % of the issued and outstanding Common Shares on
a non-diluted basis.
If the amended Performance Rights Plan with the new 3.3% maximum
limit on the number of securities to be issued or reserved for
issuance under the Performance Rights Plan is approved at the
upcoming shareholders' meeting, 20,376,341 Common Shares of the
Company would be available for issuance under all of the Company's
current incentive plans and a total of 10,915,646 performance
rights would remain available for grant under the Performance
Rights Plan, being the only active equity compensation plan
(representing approximately 1.8% of the issued and outstanding
Common Shares on a non-diluted basis) as at the date of this
release.
The Board of Directors of the Company recommends that
shareholders vote IN FAVOUR OF ALL resolutions to be presented at
the meeting.
Due to the essence of time, all shareholders are encouraged to
submit their proxies and voting instruction forms prior to the
voting deadlines, being 9.00AM
AEST on May 29, 2018 for holders
of CDIs listed on the Australian Securities Stock Exchange, and
7.00pm EDT on May 29, 2018 for holders of common shares
listed on the Toronto Stock Exchange.
Investors are advised to read this media release in conjunction
with the Circular. If you have already submitted your proxies or
voting instruction forms but would like to change your voting
instructions in light of the proposed amendment to the Performance
Rights Plan, you can re-submit your proxy or voting instruction
form to override your previous voting instructions to
Computershare. You can submit your vote via mail, internet or
telephone. Please refer to the instructions found on the
relevant proxy or voting instruction forms for further information.
SHAREHOLDER QUESTIONS
A copy of the amended 2018 Performance Rights Plan will be made
available on the "Corporate Reports" page of the Company's website
at
http://www.oceanagold.com/investors-and-media/corporate-reports/.
Shareholders who have questions regarding the Plan or require
assistance with voting may contact our Investor Relations team
(contact details below).
About OceanaGold
OceanaGold Corporation is a mid-tier, high-margin, multinational
gold producer with assets located in the
Philippines, New Zealand
and the United States. The
Company's assets encompass the Didipio Gold-Copper Mine located on
the island of Luzon in the
Philippines. On the North Island of New Zealand, the Company operates the
high-grade Waihi Gold Mine while on the South Island of
New Zealand, the Company operates
the largest gold mine in the country at the Macraes Goldfield which
is made up of a series of open pit mines and the Frasers
underground mine. In the United
States, the Company operates the Haile Gold Mine, a
top-tier, long-life, high-margin asset located in South Carolina. OceanaGold also has a
significant pipeline of organic growth and exploration
opportunities in the Americas and Asia-Pacific regions.
OceanaGold has operated sustainably over the past 27 years with
a proven track-record for environmental management and community
and social engagement. The Company has a strong social license to
operate and works collaboratively with its valued stakeholders to
identify and invest in social programs that are designed to build
capacity and not dependency.
In 2018, the Company expects to produce 480,000 to 530,000
ounces of gold and 15,000 to 16,000 tonnes of copper with All-In
Sustaining Costs that range from $725
to $775 per ounce sold.
SOURCE OceanaGold Corporation