Conditional Share Awards
Board awarded 310,922 conditional share awards to employees under 2020 Restricted Share Plan.
- Conditional Share Awards granted 310,922
- Total Conditional Share Awards in issue 2,814,541
- Percentage of issued share capital 3.7%
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Serabi announces that on 27 March 2024 the Board of Directors agreed to award in aggregate 310,922 Conditional Share Awards to employees of the Company. None of the awards have been made to Directors of the Company The awards are part of the Company's normal compensation review for senior management and the issuance is made under the Serabi 2020 Restricted Share Plan (the “2020 Plan”) which was approved by shareholders on 16 June 2020 and adopted by the Board on 10 November 2020. Shareholders confirmed the Board’s continuing authority to make awards under the 2020 Plan at the Annual General Meeting held on 27 June 2023.
The performance criteria and minimum thresholds to be achieved can be summarised as follows:
The Company made a similar award on 1 February 2024 to other members of management including its Executive Directors (see news release issued 2 February 2024) Consistent with that award the number of Conditional Shares awarded has been calculated by reference to the 30 day VWAP average of the Company's shares of on 30 January 2024.
Following these latest awards there are 2,814,541 Conditional Share Awards in issue representing 3.7% of the issued share capital of the Company.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.