07:00 Tue 12 Jan 2021
Caledonia Mining Crp - Issue of Long Term Incentive Awards
Caledonia Mining Corporation Plc
(NYSE American: CMCL; AIM: CMCL)
Issue of Long Term Incentive Awards
| Name | Position | Grant values |
| | Director and Chief Executive Officer | |
| | Director and Chief Financial Officer | |
| | Chief Operating Officer | |
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
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
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 Camilla Horsfall |
Tel: +44 1534 679 802 Tel: +44 7817 841793 |
| WH Adrian Hadden/James Sinclair-Ford |
Tel: +44 20 7220 1751 |
| Blytheweigh Tim Blythe/Megan Ray |
Tel: +44 207 138 3204 |
| 3PPB Patrick Chidley Paul Durham |
Tel: +1 917 991 7701 Tel: +1 203 940 2538 |
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Quick facts: Caledonia Mining Corporation PLC
Price: -
Market: AIM
Market Cap: -
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