Kavango Resources plc (LSE:KAV), the exploration company targeting the discovery of world-class mineral deposits in Botswana, announces the Board has approved the grant of 48,000,000 share options to directors and PDMRs of the Company (the “Director Options”) and 20,000,000 share options to key consultants to the Company (the “Consultant Options”).
More information on the terms of the option grants and amendments is provided below.
The Director Options are exercisable at a price of 1.1 pence per Ordinary Share for a period of seven years.
The Consultant Options are exercisable at a price of 1.1 pence per Ordinary Share for a period of seven years. The Consultant Options are subject to phased vesting over twenty four months from the date of grant, with 2,000,000 of the Consultant Options vesting immediately, 4,000,000 vesting after twelve months and the remainder vesting after twenty four months, subject to continuous employment or commercial engagement with the Company.
For further information, please contact:
Kavango Resources Plc
Ben Turney. +46 7697 406 06
First Equity (Broker)
Jason Robertson. +44 207 374 2212
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF REGULATION 2014/596/EU WHICH IS PART OF DOMESTIC UK LAW PURSUANT TO THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS (SI 2019/310) (“UK MAR”). UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION (AS DEFINED IN UK MAR) IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.