TIDMCMCL
RNS Number : 9275M
Caledonia Mining Corporation PLC
14 January 2019
Caledonia Mining Corporation Plc
(NYSE American: CMCL; AIM: CMCL; TSX: CAL)
Issue of Securities to Directors and Long Term Incentive
Awards
St Helier, January 14, 2019: Caledonia Mining Corporation Plc
(the "Company" or "Caledonia") announces that following the
maturing of long term incentive plan awards on January 11, 2019 (i)
a total of 93,664 securities in the Company have been issued to
Caledonia's Chief Executive Officer and Chief Financial Officer and
(ii) the Company has made new long term incentive plan awards to
members of its senior management team.
The securities have been issued in the form of depositary
interests representing shares in the Company. The number of
securities issued and the resulting interests of the recipients in
the share capital of the Company are set out below:
Name Position Number of Resulting interest
depositary in share capital of
interests the Company (number
issued and percentage)
Director and Chief Executive
Steve Curtis Officer 67,082 161,382 (1.5%)
------------------------------ ------------ ---------------------
Director and Chief Financial
Mark Learmonth Officer 26,582 96,688 (0.9%)
------------------------------ ------------ ---------------------
Application has been made by Caledonia for the admission of the
depositary interests to trading on AIM and it is anticipated that
trading in such securities will commence on January 16, 2019.
Following issue of the shares underlying the depositary
interests, the Company has a total number of shares in issue of
10,696,817 common shares of no par value each. Caledonia has no
shares in treasury; therefore, this figure may be used by holders
of securities in the Company as the denominator for the
calculations by which they determine if they are required to notify
their interest in, or a change to their interest in, the
Company.
Further details of the transactions are set out in the
notifications below.
Caledonia also announces that the Compensation Committee of the
board of directors has made new long term incentive plan awards
under the Company's 2015 Omnibus Equity Incentive Compensation Plan
(the "Plan") to the following members of its senior management:
Name Position Grant values
Steve Curtis Director and Chief Executive USD270,000
Officer
------------------------------ -------------
Dana Roets Chief Operating Officer USD170,000
------------------------------ -------------
Caxton Mangezi General Manager, Blanket Mine USD143,401
------------------------------ -------------
The awards are in the form of Performance Units ("PSUs") as
defined in the Plan and constitute the combined "Tranche 4 PSUs"
and "Tranche 5 PSUs" as set out in the announcement of the Company
made on January 12, 2016, as increased commensurate with increases
in recipients' salaries since 2016. The vesting date for the PSUs
shall be the third anniversary of the date of the award, being
January 11, 2022.
The number of PSUs 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 the greater of (i) the closing price
of Caledonia's shares on the Toronto Stock Exchange on the trading
day preceding the date of the award or (ii) the volume-weighted
average closing price of Caledonia's shares on the Toronto Stock
Exchange for the five days preceding the date of the award,
converted to the USD equivalent based on the CAD/USD exchange rate
for the 3 months immediately preceding the valuation date, i.e.
approximately USD 6.09.
The final number of PSUs which vest on maturity of the awards
will be adjusted to reflect the actual performance of the Company
in terms of targeted gold production. If actual performance is less
than 70% of target, no PSUs will vest; if actual performance is
greater than 70% of target, the number of vesting PSUs will be
adjusted pro rata on a linear basis, subject to a maximum of 200%
of the initial target PSUs. Each PSU entitles the participant to
receive the cash equivalent of the Fair Market Value of one
Caledonia common share on the maturity of the award or
alternatively to elect to receive some or all of the PSUs in the
form of securities in the Company.
For further information please contact:
Caledonia Mining Corporation Plc
Mark Learmonth Tel: +44 1534 679 802
Maurice Mason Tel: +44 759 078 1139
WH Ireland
Adrian Hadden/Jessica Cave/James Sinclair-Ford Tel: +44 20 7220 1751
Blytheweigh
Tim Blythe/Camilla Horsfall/Megan Ray Tel: +44 207 138 3204
Note: This announcement contains inside information which is
disclosed in accordance with the Market Abuse Regulation.
NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS
DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY
ASSOCIATED WITH THEM
1 Details of the person discharging managerial responsibilities/person
closely associated
a) Name Steve Curtis
-------------------------------- -------------------------------------
2 Reason for the notification
-------------------------------------------------------------------------
a) Position/status Director and Chief Executive Officer
-------------------------------- -------------------------------------
b) Initial notification/ Amendment Initial notification
-------------------------------- -------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-------------------------------------------------------------------------
a) Name Caledonia Mining Corporation Plc
-------------------------------- -------------------------------------
b) LEI 21380093ZBI4BFM75Y51
-------------------------------- -------------------------------------
4 Details of the transaction(s): section to be repeated for (i)
each type of instrument; (ii) each type of transaction; (iii)
each date; and (iv) each place where transactions have been
conducted
-------------------------------------------------------------------------
a) Description of the financial Depositary interests representing
instrument, type of instrument common shares of no par value
Identification code JE00BF0XVB15
-------------------------------- -------------------------------------
b) Nature of the transaction Issue of securities
-------------------------------- -------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
CAD8.0742 67,082
----------
-------------------------------- -------------------------------------
d) Aggregated information
- Aggregated volume 67,082
- Price CAD8.0742
-------------------------------- -------------------------------------
e) Date of the transaction 11 January 2019
-------------------------------- -------------------------------------
f) Place of the transaction AIM of the London Stock Exchange
plc
-------------------------------- -------------------------------------
NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS
DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY
ASSOCIATED WITH THEM
1 Details of the person discharging managerial responsibilities/person
closely associated
a) Name Mark Learmonth
-------------------------------- -------------------------------------
2 Reason for the notification
-------------------------------------------------------------------------
a) Position/status Director and Chief Financial Officer
-------------------------------- -------------------------------------
b) Initial notification/ Amendment Initial notification
-------------------------------- -------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-------------------------------------------------------------------------
a) Name Caledonia Mining Corporation Plc
-------------------------------- -------------------------------------
b) LEI 21380093ZBI4BFM75Y51
-------------------------------- -------------------------------------
4 Details of the transaction(s): section to be repeated for (i)
each type of instrument; (ii) each type of transaction; (iii)
each date; and (iv) each place where transactions have been
conducted
-------------------------------------------------------------------------
a) Description of the financial Depositary interests representing
instrument, type of instrument common shares of no par value
Identification code JE00BF0XVB15
-------------------------------- -------------------------------------
b) Nature of the transaction Issue of securities
-------------------------------- -------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
CAD8.0742 26,582
----------
-------------------------------- -------------------------------------
d) Aggregated information
- Aggregated volume 26,582
- Price CAD8.0742
-------------------------------- -------------------------------------
e) Date of the transaction 11 January 2019
-------------------------------- -------------------------------------
f) Place of the transaction AIM of the London Stock Exchange
plc
-------------------------------- -------------------------------------
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
DSHUAONRKBAAAAR
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