Caledonia Mining Corporation PLC Issue of Long Term Incentive Awards (3004L)
12 January 2021 - 6:00PM
UK Regulatory
TIDMCMCL
RNS Number : 3004L
Caledonia Mining Corporation PLC
12 January 2021
Caledonia Mining Corporation Plc
(NYSE American: CMCL; AIM: CMCL)
Issue of Long Term Incentive Awards
St Helier, January 12, 2021: Caledonia Mining Corporation Plc
(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 USD155,257.64
Officer
----------------------------- --------------
Mark Learmonth Director and Chief Financial USD96,002.12
Officer
----------------------------- --------------
Dana Roets Chief Operating Officer USD97,917.94
----------------------------- --------------
The awards are in the form of Performance Units ("PUs") as
defined in the Plan. The vesting date for the PUs shall be the
third anniversary of the date of the award, being January 11,
2024.
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 USD17.71.
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 targeted gold production. If actual performance is less
than 70% of target, no PUs will vest; if actual performance is
greater than 70% of target, the number of vesting PUs will be
adjusted pro rata on a linear basis, subject to a maximum of 200%
of the initial target PUs. Each PU 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 PUs in the
form of securities in the Company.
For further information please contact:
Caledonia Mining Corporation Plc
Mark Learmonth Tel: +44 1534 679 802
Camilla Horsfall Tel: +44 7817 841793
WH Ireland
Adrian Hadden/James Sinclair-Ford Tel: +44 20 7220 1751
Blytheweigh
Tim Blythe/Megan Ray Tel: +44 207 138 3204
3PPB
Patrick Chidley Tel: +1 917 991 7701
Paul Durham Tel: +1 203 940 2538
Note: This announcement contains inside information which is
disclosed in accordance with the Market Abuse Regulation (EU) No.
596/2014 .
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END
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