Source - LSE Regulatory
RNS Number : 6906R
Hamak Gold Limited
07 July 2022
 
 

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY IN OR INTO AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA, THE UNITED STATES, ANY TERRITORY OR POSSESSION THEREOF OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION.

7 July 2022

Hamak Gold Limited

("Hamak Gold" or the "Company")

Issue of Shares in lieu of directors' fees and grant of Performance Rights

Hamak Gold Limited (LSE: HAMA) announces that it has issued new ordinary shares to the following directors in respect of fees earned for the quarter since admission to the London stock Exchange on 1 March 2022. The shares are expected to be admitted for trading on 12th July 2022.

Name

No. of Shares

Amara Kamara

145,000

Karl Smithson

125,000

Julius Baiden

50,000

Niall Young

50,000

Walter McCarthy

50,000

Martin Lampshire

45,472

Total

465,472

 

The above fees are in line with the 2,520,000 Fee Shares arrangement that is set out in the Company's Prospectus.

In addition, the Company has granted Performance Rights in accordance with its Unapproved Share Performance Rights Plan to the following directors and to senior management:

Name

No. of Performance Rights

Karl Smithson

511,163

Julius Baiden

223,634

Niall Young

223,634

Walter McCarthy

223,634

Martin Lampshire

223,634

Senior management

724,148

Total

2,129,847

 

Each Performance Right entitles the holder to acquire one ordinary share. The Performance Rights vest in accordance with the following conditions as set out in the Company's Prospectus:

·     50 per cent. (50%) of the Shares shall vest on the Company's first drill intersection showing significant gold mineralisation (as determined by the Senior Technical Consultant to the Board); and

·     the remaining 50 per cent. (50%) of the Shares shall vest on the first date on which the price of the Shares is double that of the price at which Shares are issued in the placing of Shares with certain institutional and retail investors at time of the Listing.

 

For further information you are invited to view the company's website at www.hamakgold.com or please contact:

Hamak Gold Limited

Amara Kamara

Karl Smithson 

 

+231 (0) 77 005 0005

+44 (0) 77 837 07971

Peterhouse Capital Limited (Broker)

Lucy Williams

Guy Miller

Yellow Jersey PR

Tom Randell

Annabelle Wills

+44 (0) 20 7469 0930

 

 

+44 (0) 20 3004 9512

+44 (0) 7775 194357

 

 

 

About Hamak Gold Limited

Hamak Gold Limited (LSE: HAMA) is a UK listed company focussed on gold exploration of a portfolio of licences in highly prospective areas of Liberia and its growth strategy considers other exploration and development opportunities in the wider West Africa region.

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