Caledonia Mining Corporation Plc Issue of Long-Term Incentive Awards
January 26 2022 - 2:00AM
Caledonia Mining Corporation Plc (NYSE American: CMCL; AIM: CMCL;
VFEX: CMCL) (the “Company” or “Caledonia”) announces that it has
made new long term incentive plan awards under the Company’s 2015
Omnibus Equity Incentive Compensation Plan (the
“
Plan”). Awards that have been made to “Persons
Discharging Managerial Responsibility” within the meaning of the
Market Abuse Regulation (EU) No. 596/2014 are as follows:
Name |
Position |
Grant values |
Steve Curtis |
Director and Chief Executive Officer |
US$476,486.10 |
Mark Learmonth |
Director and Chief Financial Officer |
US$441,945.00 |
Dana Roets |
Director and Chief Operating Officer |
US$200,340.40 |
The awards are in the form of Performance Units
(“PUs”) as defined in the Plan. The vesting date
for the PUs shall be January 11, 2025.
The number of PUs awarded is equal to the
monetary value of the award divided by the “Fair Market Value” (as
defined in the Plan) of the Company’s shares, being, in this case,
the greater of (i) the closing price of Caledonia’s shares on the
NYSE American on the trading day preceding the date of the award or
(ii) the volume-weighted average closing price of Caledonia’s
shares on the NYSE American for the five days preceding the date of
the award, which resulted in a price of US$12.01.
The final number of PUs which vest on maturity
of the awards will be adjusted to reflect the actual performance of
the Company in terms of various operating metrics, subject to
certain minimum and maximum thresholds.
Each PU that vests entitles the participant to
receive one Caledonia common share (or a security representing a
share) on the maturity of the award. Shares that are
issued pursuant to vesting PUs are subject to a minimum holding
period of one year in case vested awards become subject to
forfeiture, reduction or cancellation.
Enquiries
Caledonia Mining Corporation PlcMark
LearmonthCamilla Horsfall |
Tel: +44 1534 679 802Tel: +44 7817 841793 |
WH IrelandAdrian
Hadden/ Andrew De Andrade |
Tel: +44 20 7220 1751 |
Blytheweigh Financial
PRTim Blythe/Megan Ray |
Tel: +44 207 138 3204 |
3PPBPatrick
ChidleyPaul Durham |
Tel: +1 917 991 7701Tel: +1 203
940 2538 |
Curate Public Relations
(Zimbabwe)Debra Tatenda |
Tel: +263 77802131 |
Note: The
information contained within this announcement is deemed by the
Company to constitute inside information under the Market Abuse
Regulation (EU) No. 596/2014 (“MAR”)
as it forms part of UK domestic law by virtue of the
European Union (Withdrawal) Act 2018 and is
disclosed in accordance with the Company's obligations under
Article 17 of MAR.
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